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Sovereign Wealth Funds Briefing 21.May 2013

Posted on 21 May 2013 by VRS |  Email |Print

Sovereign wealth funds in the Gulf Arab region are raising their allocations to private equity investments at a faster rate than other types of investment, US fund manager Invesco says in a new study.
“Contrary to popular perceptions these vast state funds are not piling into global property and global infrastructure projects,” Nick Tolchard, head of Invesco Middle East said. “As well as a rise in co-investment deals, over and above private equity funds we are seeing an emergence of direct private equity investments coming out of SWFs.”………………………………..Full Article: Source

Posted on 21 May 2013 by VRS |  Email |Print

Nigeria’s $1 billion sovereign wealth fund will start investing in June, as its board has approved the investment policy statements for the three funds it includes, Chief Executive Officer Uche Orji said.
The SWF, inaugurated in October, was set up to invest savings made from the difference between budgeted oil prices and actual market prices. Africa’s biggest oil producer relies on crude exports for more than 90 percent of foreign income and about 80 percent of government revenue, according to the central bank, making it vulnerable to swings in prices…………………………………Full Article: Source

Posted on 21 May 2013 by VRS |  Email |Print

The Nigeria Sovereign Investment Authority (NSIA) on Monday said it would open its investment portfolio with the injection of $525million for the take-off of projects under the Stabilization Fund and the Future Generation Fund early next month.
NSIA is a savings fund established by the Nigeria Sovereign Investment Authority (Establishment) Act 2011 and financed by the Federal Government to build a savings and investments base from the country’s hydrocarbon wealth…………………………………Full Article: Source

Posted on 21 May 2013 by VRS |  Email |Print

South Africa has shelved plans to set up a sovereign wealth fund - which will manage the country’s foreign reserves - due to declining metal prices.
“The creation of a sovereign wealth fund is best timed with stable or rising commodity prices,” Economic Development Minister Ebrahim Patel said in a written reply to a parliamentary question published on his ministry’s website on Monday…………………………………Full Article: Source

Posted on 21 May 2013 by VRS |  Email |Print

The government has quietly dropped plans to establish a South African sovereign wealth fund originally mooted to help manage the country’s foreign reserves and to stabilise the value of the rand.
Economic Development Minister Ebrahim Patel, in reply to Freedom Front Plus MP Corné Mulder, said the creation of such a fund “is best timed with stable or rising commodity prices. In light of market conditions, no immediate steps are contemplated”………………………………..Full Article: Source

Posted on 21 May 2013 by VRS |  Email |Print

Qatar’s sovereign wealth fund is still looking at making an offer to buy into Italian fashion house Gianni Versace SpA, an Italian business daily reports, citing anonymous financial sources.
Qatar Holding LLC of the Qatar Investment Authority would make an offer alongside Italy’s own state investment fund, Fondo Strategico Italiano, or Fsi, daily Il Sole 24 Ore says in a report published over the weekend…………………………………Full Article: Source

Posted on 21 May 2013 by VRS |  Email |Print

Qatar’s sovereign wealth fund has bought a 40-percent stake in a new 290,000-square metre skyscraper project near the centre of Milan with a commercial value of 2.0 billion euros ($2.6 billion), the companies said on Friday.
The project has already involved the construction of the skyscraper headquarters of Italy’s biggest bank UniCredit by Argentine architect Cesar Pelli. “Porta Nuova is one of the most prestigious urban renovation projects in Europe,” real estate giant Hines Italia and Qatar Holding said in a statement…………………………………Full Article: Source

Posted on 21 May 2013 by VRS |  Email |Print

Government of Singapore Investment Corp., which manages more than $100 bilion of assets, said it’s more “cautious” about seeking higher returns on its assets as yields remain low.
The average annual return on bond yields will be about 1.9 percent over the next decade, while equities may offer a 1.6 percent median real return a year during that period, said Lim Chow Kiat, chief investment officer of the fund, citing different portfolio models…………………………………Full Article: Source

Posted on 21 May 2013 by VRS |  Email |Print

Just Dial Ltd, which runs the India-specific local business listings site Justdial.com, has raised Rs 208.66 crore or approximately $38 million from anchor investors, including Singapore sovereign wealth fund Temasek and asset management major Fidelity.
The Mumbai-based firm, which opened its IPO on Monday, said in a filing to exchanges that it sold 3.94 million shares to 15 anchor investors at Rs 530 per share. Just Dial said it expects to raise Rs 936.8 crore through its issue, which closes on May 22…………………………………Full Article: Source

Posted on 21 May 2013 by VRS |  Email |Print

Jin Liqun, chairman of the supervisory board of China Investment Corp - the country’s sovereign wealth fund - will step down on Friday to assume the position of chairman of China International Capital Corp on Monday, Jin told China Daily on Thursday.
He is expected to succeed 64-year-old Li Jiange, who has been CICC’s chairman since 2008. Analysts said that Jin’s decision to join CICC, the country’s first joint venture investment bank and a leader in the financial services sector, may require the 64-year-old finance professional to come up with new strategies to boost the bank’s performance…………………………………Full Article: Source

Posted on 21 May 2013 by VRS |  Email |Print

The state oil fund SOFAZ — an entity that accumulates and manages Azerbaijan’s oil and gas revenues — has announced that it is still interested in property acquisitions in prime business districts of major cities around the world.
The company said that under short-term plans it plans to purchase commercial real estate in Asia. “SOFAZ has its own strategy on the purchase of real estate and related requirements. If the commercial property meets the strategy and all requirements of the fund, then SOFAZ is ready to purchase it,” the fund told Trend news agency…………………………………Full Article: Source

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