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Sovereign Wealth Funds Briefing 29.May 2013

Posted on 29 May 2013 by VRS |  Email |Print

China’s $500 billion sovereign wealth fund is reportedly struggling to fill its head position due to the pressure of handling what the Chinese press are calling ‘the hot potato’.
Previous media reports had suggested Tu Guangshao, Shanghai’s vice-mayor and a man who has a strong background in securities management, had been cast as the shoe-in replacement for the outgoing chairman of the China Investment Corporation (CIC) Lou Jiwei. But it appears the former Bank of China and Shanghai Stock Exchange employee is now reluctant to take the top job………………………………………..Full Article: Source

Posted on 29 May 2013 by VRS |  Email |Print

China’s massive sovereign wealth-fund has named a senior executive at the country’s largest bank, the Industrial & Commercial Bank of China (ICBC), as the head of its supervisory board. China Investment Corp. said on Monday that the decision was “rendered by the State Council of the People’s Republic of China on May 17th, 2013”.
“Mr. Li Xiaopeng has been appointed Chairman of Board of Supervisors of China Investment Corporation (CIC) and Mr. Jin Liqun will no longer serve as Chairman of the Supervisory Board of CIC,” the statement said………………………………………..Full Article: Source

Posted on 29 May 2013 by VRS |  Email |Print

China’s official overseer of foreign-currency reserves is considering real estate and other investments in the United States. Bloomberg News on Monday cited two people with direct knowledge of the situation as saying that the State Administration of Foreign Exchange, or SAFE, began studying the possibility of investing in US real estate after noting signs of a recovery in the country’s property market.
China may acquire real estate, invest in real estate funds or buy stakes in property companies, according to Bloomberg’s sources, who requested anonymity because they weren’t authorized to speak publicly about the matter. The safety of the investments will be SAFE’s top priority, the sources said………………………………………..Full Article: Source

Posted on 29 May 2013 by VRS |  Email |Print

One of the largest pools of institutional assets has moved a considerable part of its capital away from external asset managers over the last 12 months and increased its internal team.
The Abu Dhabi Investment Authority (ADIA) has brought five percentage points of its considerable assets under the auspices of its in-house investment team, its 2012 annual report has revealed this week. ADIA said at the end of 2012, some 75% of its assets were managed internally, down from approximately 80% a year earlier………………………………………..Full Article: Source

Posted on 29 May 2013 by VRS |  Email |Print

Norway’s sovereign wealth fund is now the second-largest investor after the state in VTB, Russia’s state bank, following the privatisation of a 14 per cent government stake this month.
It was the second significant stake in a state bank to be sold as part of plans to privatise Russian banks announced in June 2012. In September, the central bank sold a 7.6 per cent share in Sberbank, Russia’s largest bank, bringing the government ownership to 50 per cent plus one share………………………………………..Full Article: Source

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