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Sovereign Wealth Funds Briefing 19.Sep 2013

Posted on 19 September 2013 by VRS |  Email |Print

Qatar’s sovereign-wealth fund will begin clearing a luxury-homes site at Chelsea Barracks in November, more than five years after buying the London property. Qatari Diar Real Estate Investment Co.’s Project Blue (Guernsey) affiliate will demolish towers and a warehouse and drive piles into the ground on the edge of the site, according to a letter sent to local residents obtained by Bloomberg News.
The Chelsea Barracks Partnership, which liaises with local residents, said in the letter dated Sept. 9 that the work would start in early November………………………………………..Full Article: Source

Posted on 19 September 2013 by VRS |  Email |Print

A delegation from the Abu Dhabi Investment Authority (Adia) met officials, ministers, bankers and senior executives in Moscow this week to explore investment opportunities in Russia, Adia said.
“As a prudent, long-term investor, Adia believes in building deep and lasting relationships of trust with key stakeholders in major financial markets. We were grateful for the opportunity to have frank and open discussions with such an esteemed group of senior officials and corporate leaders during our visit to Russia this week, with the goal of better understanding the long-term opportunities and challenges of investing in Russia,” said Sheikh Hamed bin Zayed Al Nahyan, the managing director of Adia………………………………………..Full Article: Source

Posted on 19 September 2013 by VRS |  Email |Print

Authorities at the Nigerian Sovereign Investment Authority (NSIA) on Monday announced that they would in June, begin investment of the stabilisation and future generation components of the nation’s $1billion Sovereign Wealth Fund (SWF), seven months after the body was inaugurated.
But investments of the infrastructure component would begin towards the end of the year and at the moment, a very detailed and thorough review of the possible investment areas and projects is on- going, Uche Orji, Managing Director/ Chief Executive Officer , NSIA told a press conference in Abuja………………………………………..Full Article: Source

Posted on 19 September 2013 by VRS |  Email |Print

The All Progressives Congress (APC) lawmakers in the House of Representatives said Federal Government’s farming out the management of $200 million Sovereign Wealth Fund (SWF) to foreign firms contravenes Section 1, Part 1 of the Fifth Schedule of the 1999 Constitution.
The Federal Government, on August 28, appointed Credit Suisse and Goldman and Sach and UBS to manage the $200 million, or 20 per cent of the country’s $1 billion SWF. The progressives’ lawmakers have vowed to challenge the legality of the action………………………………………..Full Article: Source

Posted on 19 September 2013 by VRS |  Email |Print

The assets of the State Oil Fund of Azerbaijan (SOFAZ) from 2003 to 2013 increased by 42.5 times, SOFAZ told Trend on Tuesday. At present, the amount of SOFAZ’s assets hits $34.68 billion. For comparison, SOFAZ’s assets hit $0.82 billion in 2003.
The biggest growth was registered in 2008. SOFAZ’s assets increased by 4.53 times (or by $8.74 billion) and hit $11.22 billion as of late 2008. For comparison, as of 2007 SOFAZ’s assets hit $2.48 billion. SOFAZ was established in 1999, and its assets at that time amounted to $271 million. SOFAZ’s assets reached $34.129.4 billion as of 2012………………………………………..Full Article: Source

Posted on 19 September 2013 by VRS |  Email |Print

In a pair of recent SEC filings, Norges Bank Investment Management (NBIM), the institutional investor in charge of Norway’s sovereign wealth fund, has significantly increased ownership in two technology companies: Itron Inc. and GT Advanced Technologies Inc.
According to an amended 13G filing made on September 12th, 2013, Norges Bank upped its stake in Itron Inc. to 1,956,728 shares, representing a nearly one million share increase according to a second quarter filing. The aggregate value of the shares totaled US$ 37,683,000 in June of 2013 and nearly US$ 76,980,000 on the date of the purchase on September 11th, 2013……………………………………….Full Article: Source

Posted on 19 September 2013 by VRS |  Email |Print

In a move that could significantly boost investor confidence, several sovereign wealth funds (SWFs) from Japan, UAE, Norway and Canada among others have rekindled their interest in investing in India’s cash starved infrastructure sector, which needs 1 trillion worth of funds in the next four-five years.
“The government is in talks with a few SWFs and they have shown a keen interest to invest in the country and we are hopeful that things would materialise soon,” a government official said on the condition of anonymity. Though the recent volatility and a depreciating rupee have reduced the attractiveness of the stock market for SWFs, renewed interest of these funds are likely to reverse the trend………………………………………..Full Article: Source

Posted on 19 September 2013 by VRS |  Email |Print

Bank of America Corp and Wells Fargo & Co are among US lenders targeting sovereign wealth funds and family-owned businesses to expand in the Middle East.
Bank of America, the second-largest US lender by assets, is boosting financing to family-run companies and expects to increase capital raising and transaction banking in the region, according to Fernando Vicario, co-head of debt capital markets and corporate banking for Europe, Middle East and Africa………………………………………..Full Article: Source

Posted on 19 September 2013 by VRS |  Email |Print

The number on every Alaskan’s mind was announced Wednesday morning by acting Revenue Commissioner Angela Rodell, in Anchorage. This year’s Alaska Permanent Fund dividend (PFD) payout is $900. The dividend will be distributed to eligible Alaska residents beginning Oct. 3.
Altogether, there were 670,865 Alaska PFD applicants this year, and about 640,436 should qualify, Rodell said. The oldest applicant was 108 years old, and the youngest was born at 11:59 p.m. on the qualification deadline of Dec. 31, 2012………………………………………..Full Article: Source

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