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Sovereign Wealth Funds Briefing 04.Jul 2013

Posted on 04 July 2013 by VRS |  Email |Print

Norway’s deputy finance minister has dismissed opposition suggestions that the country’s sovereign wealth fund, the world’s largest, should be split into smaller funds, a local newspaper reported on Wednesday.
“We fear that a split would lead to an unfortunate competition between funds, which could lead to higher risk-taking and too much weight being put on achieving short-term results,” financial daily Dagens Naeringsliv quoted deputy finance minister Hilde Singsaas as saying………………………………………..Full Article: Source

Posted on 04 July 2013 by VRS |  Email |Print

The new head of Qatar’s sovereign wealth fund, Ahmad al-Sayed, is known and feared as a hard, aggressive negotiator - and his appointment signals the fund’s ambitious overseas acquisition plans are likely to continue.
Qatar’s newly-crowned emir removed former Prime Minister Sheikh Hamad bin Jassim al-Thani as chief executive at Qatar Investment Authority (QIA) on Tuesday, replacing him with Sayed, a lawyer previously in charge of running the fund’s investment arm………………………………………..Full Article: Source

Posted on 04 July 2013 by VRS |  Email |Print

Few bankers and analysts raised an eyebrow when Ahmad Al Sayed was appointed Tuesday as the new chief executive of the Qatar Investment Authority, the Arab Gulf emirate’s main sovereign wealth fund.
Having spent five years at the helm of Qatar Holding, a QIA subsidiary that makes opportunistic investments in foreign companies on behalf of the Qatari government, Mr. Al Sayed is a trusted hand with plenty of experience managing state assets. It seems a natural choice. “I doubt there will be a massive shift in strategy,” said one Doha-based banker who has dealt with Mr. Al Sayed………………………………………..Full Article: Source

Posted on 04 July 2013 by VRS |  Email |Print

Qatar’s former prime minister, Sheikh Hamad bin Jassim al-Thani, has been replaced as deputy head of the country’s powerful sovereign wealth fund in a restructuring move ordered by the country’s new emir, the state news agency reported.
Ahmad al-Sayed has been appointed chief executive of the Qatar Investment Authority (QIA), the gas-rich nation’s sovereign wealth fund, Qatar News Agency said on Tuesday, citing a royal decree. Sayed was previously chief executive at Qatar Holding, the fund’s investment arm………………………………………..Full Article: Source

Posted on 04 July 2013 by VRS |  Email |Print

Kuwait’s sovereign wealth fund will invest up to $5bn in British infrastructure assets over the next three to five years, it has been reported. According to London’s The Financial Times, Kuwait Investment Authority (KIA) will seek to invest in existing projects in the country that are already creating cash flow.
“We are looking at brownfield projects because of the cash flow streams and to diversify our portfolio, as we don’t think there is any money to make in fixed income, because of the zero interest rates,” KIA managing director Bader Al-Saad told the newspaper………………………………………..Full Article: Source

Posted on 04 July 2013 by VRS |  Email |Print

The Minister of Finance, Mrs Ngozi Okonjo-Iweala, said on Wednesday that Nigeria returned to the capital market after two years of absence and sold $1 billion dollar bond with ease. Okonjo-Iweala said this in Abuja while briefing newsmen on the recently concluded road show in Europe and U.S. to float the billion dollar bond.
The Director-General, Debt Management Office (DMO), Dr Abraham Nwankwo said Nigeria’s decision to transfer from using Excess Crude Account (ECA) to Sovereign Wealth Fund helped to portray the country in good light………………………………………..Full Article: Source

Posted on 04 July 2013 by VRS |  Email |Print

China Investment Corporation (CIC), the sovereign wealth fund of the world’s second largest economy, should open its doors and recruit the world’s top fund managers in order to improve its performance, analysts told the Global Times Wednesday. Without this change, any new leader of the sovereign wealth fund will find it very challenging to achieve satisfactory results, they said.
The CIC chairmanship has been vacant for four months, and the reason for the lengthy vacancy is that nobody is willing to take on the huge pressure of generating a decent investment return, said Tian Yun, editor-in-chief of Macro China Information Network, a macroeconomics information portal………………………………………..Full Article: Source

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