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Sovereign Wealth Funds Briefing 01.Oct 2013

Posted on 01 October 2013 by VRS |  Email |Print

Sovereign wealth funds, which control about $6 trillion of wealth globally, are boosting investments in alternative assets like real estate and private equity to increase returns, a survey by Invesco Ltd. (IVZ) found.
The wide swings in equity prices and the “market-wide dissatisfaction with risk-return profile of equity investing,” together with low interest rates on fixed-income products, has pushed government-controlled funds to consider alternative assets to enhance growth, Invesco said in a report released in Dubai today. Alternative investments include international and local private equity, real-estate, hedge funds, infrastructure and commodities, according to the report………………………………………..Full Article: Source

Posted on 01 October 2013 by VRS |  Email |Print

Group will call for legal change to set royal property porfolio to work internationally to generate wealth for UK. Britain’s £8.6bn crown estate should be turned into a sovereign wealth fund to rival government-backed investment funds that have sprung up across Europe, the Middle East and Asia in the last 20 years, a group of Labour MPs will say this week.
The MPs will tell the Co-op party’s annual conference on Friday that the crown estate, which comprises vast tracts of land and commercial property across the UK, should be freed up to invest in foreign property and much-needed infrastructure projects in Britain………………………………………..Full Article: Source

Posted on 01 October 2013 by VRS |  Email |Print

Norway’s central bank will sell 100 million crowns ($16.67 million) a day in October to buy foreign currency for the country’s $780 billion sovereign wealth fund, the same amount it sold in September, the bank on its page on Monday.
The fund, the world’s biggest sovereign wealth fund, invests Norway’s revenues from oil and gas production for future generations, buying bonds, stocks and real estate around the world………………………………………..Full Article: Source

Posted on 01 October 2013 by VRS |  Email |Print

Former PM Jens Stoltenberg says indebted European nations should look to Norway’s £460bn fund to avert ‘curse of oil’. Norway has much to teach spendthrift nations such as the UK, its outgoing prime minister has said.
Jens Stoltenberg said indebted European nations should look to Norway, which has become one of the wealthiest countries in the world mainly by refusing to spend its huge oil revenues and placing them instead in a sovereign wealth fund………………………………………..Full Article: Source

Posted on 01 October 2013 by VRS |  Email |Print

Nigeria’s new $1bn sovereign wealth fund is delaying making its initial investments due to the volatility in global markets. In a first for Nigeria, the fund was launched in October to safeguard oil revenues for future generations and provide a buffer against external shocks. Though modest in global terms, it is the third biggest sovereign wealth fund in sub-Saharan Africa, after the $6.9bn Botswana and $5bn Angola funds.
The Nigeria Sovereign Investment Authority, which is in charge of the new fund, announced in May it would start investing this month. But Uche Orji, the managing director, said on Tuesday he was holding back in case of further corrections in the global share and bond markets………………………………………..Full Article: Source

Posted on 01 October 2013 by VRS |  Email |Print

Governor Emmanuel Uduaghan of Delta State has charged the Federal Government on the proper management of the sovereign wealth fund to ensure effective participation of the various states in the country.
The governor, who said this weekend at the 2nd anniversary public lecture of the 5th Assembly in Asaba, explained that states were not against the establishment of the sovereign wealth fund per se but the way and manner in which it was being managed. He opined that states should be able to decide the amount to save and what to do with their savings since they are not appendages of the Federal Government………………………………………..Full Article: Source

Posted on 01 October 2013 by VRS |  Email |Print

The investment arm of the Abu Dhabi government Mubadala Development Company has recorded a 10.4% increase in half-yearly profits, attributed mainly to earnings from financial investments, to AED1.1 billion (US$299.4 million) against AED984.7 million (US$268.02 million) from the same period last year.
Abu Dhabi’s Mubadala Development Co., a stakeholder in luxury carmaker Ferrari, swung back to profit in 2009 as value of investments rebounded, posting Monday a 1.3 billion dollar profit.The government-owned company posted 4.79 billion dirhams (1.3 billion dollars) in profit attributable to equity holders, compared to a loss of 11.44 (3.1 billion dollars) registered in 2008, according to an audited financial statement posted on the company’s website. (Press Release)

Posted on 01 October 2013 by VRS |  Email |Print

Reports are being issued that one of the major institutional investors interested in the initial public offering of Britain’s Royal Mail is the Government of Singapore Investment Corporation (GIC) now known as GIC Private Limited.
The UK government still plans to hold around a 30%-49.9% stake in the national mail carrier and also plans on issuing a 10% stake to its over 150,000 employees………………………………………..Full Article: Source

Posted on 01 October 2013 by VRS |  Email |Print

Malaysia’s state investment arm, Khazanah Nasional Bhd, will open an office in Istanbul next month to facilitate its growth in the Middle East and the North African region.
Managing director Tan Sri Azman Mokhtar said the office will be Khazanah’s fourth overseas, after Beijing, Mumbai and San Francisco. “We hope this will be a collaborative platform for the Malaysia team to build a bridge with the overseas offices,” he said……………………………………….Full Article: Source

Posted on 01 October 2013 by VRS |  Email |Print

Adrian Orr feels vindicated. In February 2007 the energetic, outspoken economist took over as CEO of the Guardians of New Zealand Superannuation, the investment group that manages the country’s NZ$23 billion ($18.9 billion) sovereign wealth fund. His remit: Transform the fund from a traditional asset allocator into an agile and opportunistic investor.
Orr had been on the job only a few months when the subprime mortgage crisis erupted. Far from giving him pause, though, the crisis spurred him to accelerate the strategic shift. Adopting a total-portfolio approach, the CEO and his team created a passive reference portfolio to serve as an internal benchmark……………………………………….Full Article: Source

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