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Sovereign Wealth Funds Briefing 30.May 2013

Posted on 30 May 2013 by VRS |  Email |Print

Norway’s $740-billion (U.S.) sovereign wealth fund, the world’s largest, is examining labour conditions in the mining industry and may sell out of firms that violate workers’ rights, the head of the fund’s ethics council said.
The fund could also divest from companies involved in cattle ranching, if working conditions on farms are exploitative, and from firms implicated in illegal or unregulated fishing………………………………………..Full Article: Source

Posted on 30 May 2013 by VRS |  Email |Print

The emerging markets – most notably China – will form a cornerstone of one of the world’s second largest sovereign wealth fund’s investment plans for the coming year, the Abu Dhabi Investment Authority ADIA has announced. In its 2012 annual review, ADIA said it is attempting to reflect a changing ‘economic leadership’ in the world economy, which has seen it reduce its exposure to developed markets.
One of the largest recipients of its allocation shift towards emerging markets is China. ADIA said it will increase its allocation in Chinese equities from $200 million to $500 million having received approval from the Chinese market regulator in 2012………………………………………..Full Article: Source

Posted on 30 May 2013 by VRS |  Email |Print

The Abu Dhabi Investment Authority, one of the world’s largest sovereign wealth funds, will build the first currency printing unit in the emirate, the country’s central bank said on Wednesday.
The central bank first announced plans to set up a currency mint in Abu Dhabi in December 2009, but the project never took off. The currency printing unit, which will be built by ADIA, will cater to demand from other markets, the statement said. No details were given about the cost or when the currency mint would be ready………………………………………..Full Article: Source

Posted on 30 May 2013 by VRS |  Email |Print

Americans aren’t the only ones considering real estate as part of their investment strategy. Recent reports state that China is considering diversifying its foreign exchange reserves, totaling approximately US$3.4 trillion, into U.S. real estate. With the Chinese investment strategy in the past based primarily on investing in U.S. government debt, considering how little this asset class is currently yielding, it does make sense for the Chinese to look at diversifying into other sectors.
When looking at the potential for home prices to continue rising versus U.S. government debt, this diversification seems quite prudent. The ramifications for American home prices could be substantial. It really depends on how China goes about allocating its investment strategy. There are already shortages in many real estate markets across the U.S., which is part of the reason home prices have moved up so quickly………………………………………..Full Article: Source

Posted on 30 May 2013 by VRS |  Email |Print

Azerbaijan’s State Oil Fund, known as Sofaz, is considering investing in the Chinese yuan as it broadens expansion into new currencies to diversify reserves.
“We are currently exploring the Chinese currency,” Sofaz Executive Secretary Shahmar Movsumov told reporters today in Baku, the Azeri capital. “There are some institutional problems to resolve. Investors cannot just come and invest in China any time they wish. There are some very strict terms.”……………………………………….Full Article: Source

Posted on 30 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 interested in restructuring its currency portfolio. SOFAZ Head Shahmar Movsumov said that the fund is considering the inclusion of Yuan in its currency portfolio.
However, Movsumov said there are certain “problems of institutional nature” with the issue of investing in the Chinese currency, as China has very strict investment conditions, which are currently being considered by the state oil fund………………………………………..Full Article: Source

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