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Sovereign Wealth Funds Briefing 03.Oct 2013

Posted on 03 October 2013 by VRS |  Email |Print

Two prominent Norwegian investment funds are throwing their weight behind demands that the newly elected government should push the nation’s $750 billion wealth fund into making investments in renewable energy and other infrastructure projects that could provide safe alternatives to its bond and stock investments.
KLP and Storebrand ASA, with combined assets under management of 780 billion Norwegian kroner ($130.1 billion), have joined several environmental organizations and the Oslo Catholic Church in calling on new Prime Minister Erna Solberg to make the changes to the fund’s structure. Currently, the sovereign-wealth fund—formally called The Government Pension Fund Global—has 35.7% of its money in fixed-income investments, 63.4% in equities and less than 1% in real estate………………………………………..Full Article: Source

Posted on 03 October 2013 by VRS |  Email |Print

Scotland should establish two “oil funds” immediately after independence to ensure remaining North Sea reserves provide a “lasting benefit for future generations”, a group of economists has found.
The Scottish Government-appointed Fiscal Commission working group said a short-term “stabilisation” fund should be set up to buffer Scotland’s finances against volatile oil prices, while a long-term Norwegian-style sovereign wealth fund should also be created for decades to come………………………………………..Full Article: Source

Posted on 03 October 2013 by VRS |  Email |Print

A bunch of the world’s sovereign wealth funds got together in 2008 to address a growing tide of concern about the political dimensions of their investments. The funds wanted to assure everyone that they were in fact very ordinary investors with no objectives outside of a financial return.
Five years on, however, a new report says many Middle Eastern funds still aren’t complying with the voluntary regulations that came out of that meeting: the so-called Santiago Principles………………………………………..Full Article: Source

Posted on 03 October 2013 by VRS |  Email |Print

Nigeria’s sovereign wealth fund has made its first ever investment, handing over $200m to UBS, Credit Suisse and Goldman Sachs to manage a fixed income portfolio. The first investment, even if relatively small, adds Nigeria to the small cadre of commodity-rich countries that over the past decade have become one of the most powerful forces in global financial markets through their sovereign wealth funds.
Uche Orji, chief executive of the $1bn Nigerian Sovereign Investment Authority (NSIA), told the Financial Times the fund gave UBS $50m last week to invest in US Treasuries. A further $150m is being transferred this week to Credit Suisse and Goldman Sachs to build a US corporate bond portfolio………………………………………..Full Article: Source

Posted on 03 October 2013 by VRS |  Email |Print

Analysts have hailed Government’s plans to set up a Sovereign Wealth Fund that is aimed at raising capital from internal resources to support wealth creating sectors to ensure sustainable economic growth. Confederation of Zimbabwe Industries past president Mr Kumbirai Katsande yesterday said he hoped the establishment would happen soon as the idea had been on the cards for some time.
“I am hopeful that this comes to fruition at the earliest possible time as it is a noble idea that could be used as a tool to get the ailing wealth creating sectors such as manufacturing and agriculture back on track,” he said………………………………………..Full Article: Source

Posted on 03 October 2013 by VRS |  Email |Print

Qatar Holding, the investment arm of the country’s sovereign wealth fund Qatar Investment Authority (QIA), has bought NYSE Euronext’s 12 percent stake in the Qatar Exchange, the Doha-based bourse said in a statement on Tuesday.
The deal, for which a price was not revealed, makes Qatar Holding the sole owner of Qatar Exchange, which operates the country’s securities market………………………………………..Full Article: Source

Posted on 03 October 2013 by VRS |  Email |Print

Sovereign wealth fund GIC has invested 300 million real (S$170 million) in a Brazilian water and sewage treatment company as it expands its presence in Latin America’s biggest economy.
Aegea Saneamento e Participacoes, an arm of conglomerate Grupo Equipav, said on Tuesday that the investment will be used to help fund its growth plans. It holds about 15 per cent of the private water and sewage treatment market in Brazil. “Aegea manages an attractive portfolio of water and sewage concessions in Brazil,” said Mr Tay Lim Hock, President of GIC Special Investments………………………………………..Full Article: Source

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