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Sovereign Wealth Funds Briefing 02.Aug 2013

Posted on 02 August 2013 by VRS |  Email |Print

Singapore sovereign wealth fund GIC, the single biggest shareholder of UBS, said it believes the western banking industry is healing and it has the capacity to invest more in the financial sector.
GIC Private Ltd, which holds a 6.45 percent stake in UBS AG along with a minority stake in Citigroup, said both banks have seen an improvement in their profits and it is happy with the shift the banks have made to their business models…………………………….Full Article: Source

Posted on 02 August 2013 by VRS |  Email |Print

GIC Pte, manager of more than $100 billion of Singapore’s reserves, is changing its investment strategy for the second time in three decades to be more flexible as the global outlook becomes “complicated.”
GIC will split its portfolio into one that’s actively managed, and another that tracks the overall market, it said as its annual report showed returns were little changed. The company was set up in 1981 as a “contingency fund” with a portfolio that’s as much as 70 percent invested in bonds and cash, before a review in 2000 defined it as a “financial endowment,” which saw equities accounting for 65 percent of holdings, it said…………………………….Full Article: Source

Posted on 02 August 2013 by VRS |  Email |Print

Singapore sovereign-wealth fund GIC Pvt. Ltd. said it is preparing for volatile markets in the coming year, in particular the risk of a slowdown in China, and that it will use the opportunity to boost its exposure to stocks.
The fund that manages Singapore’s foreign-exchange reserves said in its annual report for the fiscal year ended March 31 that while the global economy is faced with challenges, GIC is more bullish on the U.S. and sees it as a major destination for its investments…………………………….Full Article: Source

Posted on 02 August 2013 by VRS |  Email |Print

A Singapore sovereign wealth fund has appointed a former World Bank President to its board, as it ramps up its reputation ahead of an American office launch. Temasek has appointed Robert Zoellick to its board of directors, a man who formerly held the post of World Bank President and worked as a US Trade Secretary.
The Singaporean sovereign wealth fund is understood to be making efforts to ramp up its international reputation ahead of an office launch in the US…………………………….Full Article: Source

Posted on 02 August 2013 by VRS |  Email |Print

The Nigeria Sovereign Investment Authority (NSIA) is to manage N3.4 trillion pension savings, the Coordinating Minister for the Economy and Minister of Finance, Dr. Ngozi Okonjo-Iweala, has said. She disclosed this yesterday in Abuja during a visit to the NSIA office.
She restated the government’s commitment to seeing that the Sovereign Wealth Fund (SWF) and other funds available for investments were prudently deployed in critical areas of needs and efficiently managed in such a way that it would impact positively on the economy and improve the well-being of Nigerians…………………………….Full Article: Source

Posted on 02 August 2013 by VRS |  Email |Print

The Minister of Finance, Dr Ngozi Okonjo-Iweala, said on Thursday that the Nigeria Sovereign Investment Authority (NSIA) would help to manage the pension funds, to enhance investment in infrastructure in the country.
Okonjo-Iweala made the remark in Abuja, at the official announcement of the sovereign wealth fund for investment. “One of the benefits of having this sovereign wealth fund is not just for the organisations that want to co-invest, but they will also help us work along with our pension funds…………………………….Full Article: Source

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