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Sovereign Wealth Funds Briefing 26.Aug 2013

Posted on 26 August 2013 by VRS |  Email |Print

Sovereign wealth funds are approaching US$ 6 trillion in assets. Increases in stock markets globally have helped lift the value of sovereign wealth assets.“Rising globally, sovereign wealth funds are springing up from Africa to certain states in the U.S.,” commented Michael Maduell, President of the Sovereign Wealth Fund Institute.
Asia and the Middle East hold the bulk of sovereign wealth fund assets. Those regions have time and flow on their side………………………………………..Full Article: Source

Posted on 26 August 2013 by VRS |  Email |Print

The Norwegian government should establish a new fund, the Government Pension Fund – Growth, to invest in developing countries, resulting in the dual benefits of jobs creation and investment returns for the fund, recommends a report by Re-define, commissioned by Norwegian Church Aid.
The NCA, which is a member of the humanitarian alliance, Act Alliance, believes that the $760 billion sovereign wealth fund’s unique long-horizon positions it for investment in developing countries, and could go some way to providing capital for job creation………………………………………..Full Article: Source

Posted on 26 August 2013 by VRS |  Email |Print

Prime Minister Jens Stoltenberg plans to use less oil money in 2014, NOK 50 billion below the maximum four per cent rule. “As the figures now stand, we’ll be preparing to use barely three per cent of the Government Pension Fund next year,” he told business daily Dagens Næringsliv.
“Next year’s oil spending will be on par with the lowest ever recorded.” The Prime Minister added he believes spending the highest possible amount next year could create problems for the Norwegian economy “at a time we’re concerned about high cost growth, the exchange rate, and the rate of interest.”……………………………………….Full Article: Source

Posted on 26 August 2013 by VRS |  Email |Print

Economic Times of India reports that Delhi-based broker Jaypee Capital Services is in advanced talks to sell part of its stake in the National Commodity & Derivatives Exchange Limited (NCDEX) to Omani sovereign wealth fund Oman Investment Fund.
Jaypee Capital Services is said to be close to selling 14.7 per cent to IDFC Private Equity Fund and Oman Investment Fund for INR 1.32 billion (INR 180 a share). About five per cent will go to IDFC PE for INR 440 million while 9.7 per cent will be sold to OIF for INR 880 million said Economic Times. The two deals value NCDEX at INR 9.12 billion. Motilal Oswal’s Investment Banking arm is Jaypee’s advisor………………………………………..Full Article: Source

Posted on 26 August 2013 by VRS |  Email |Print

The $85 billion Future Fund has defended the price it paid for a stake in Perth Airport and dismissed concerns that infrastructure assets are in bubble territory.
The fund, which was established in 2006 to oversee the retirement savings of commonwealth government public servants, said fears that recent entrants to the market, such as global pension and endowment funds, had pushed up prices to unsustainable levels were overdone………………………………………..Full Article: Source

Posted on 26 August 2013 by VRS |  Email |Print

In a sale reportedly worth US$ 257 million, Temasek Holdings Pte has unloaded all of its roughly 9.2 million shares of Cheniere Energy Inc (LNG). An article posted by the Sovereign Wealth Fund Institute earlier notes that Temasek acquired the shares in May of 2012 through a partnership with RRJ Capital.
That purchase was worth US$ 468 million and gave the investors a 19.9% stake in the energy exporter. Public shares in Cheniere Energy rose dramatically after RRJ Capital and Temasek bought their stake. Officials at Temasek realized the potential of the Louisiana-based Sabine Pass facility, exporting liquefied natural gas to Asia……………………………………….Full Article: Source

Posted on 26 August 2013 by VRS |  Email |Print

It is an intricate network of firms, directorships and partnerships with flamboyant tycoon Jho Low at its centre, but Focus Malaysia believes it has unravelled it to show the connection between local investment fund 1 Malaysia Development Bhd (1MDB) and its Middle East backers.
In a front-page story on the enigmatic Penang-born businessman, the business weekly sought to chart the link between 1MDB and Jynwel Capital Ltd, the flagship of the mogul believed to be behind Korean pop sensation Psy’s appearance at the Barisan Nasional (BN) Chinese New Year open house in Penang earlier this year………………………………………..Full Article: Source

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