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Sovereign Wealth Funds Briefing 15.Oct 2013

Posted on 15 October 2013 by VRS |  Email |Print

Years of currency manipulation by Japan’s Ministry of Finance has left it with $1.27 trillion in foreign exchange reserves, most of which are invested in low-yielding U.S. Treasury bonds.
Following an account in Japan’s Nikkei newspaper, Bloomberg News reported that the ministry is planning to outsource management of some of this money. Details about the plan are thin. Still, it could mark the first step toward the creation of a Japanese sovereign wealth fund that invests for profit………………………………………..Full Article: Source

Posted on 15 October 2013 by VRS |  Email |Print

New Zealand Superannuation Fund appoints Northern Trust to new passive global equities mandates. The NZ$23 billion New Zealand Superannuation Fund has appointed Northern Trust’s asset management arm, a leading global provider of index, active and multi-manager solutions, to manage four new passive global equities mandates.
The mandates track global large cap, global small cap, developed emerging markets and developed REITs (real estate investment trust) market indices. Fiona Mackenzie, Head of Investments for the New Zealand Superannuation Fund, said around two-thirds of the Fund was invested passively, providing cost-effective access to diversified global share-markets………………………………………..Full Article: Source

Posted on 15 October 2013 by VRS |  Email |Print

China-focused water treatment company SIIC Environment Holdings Ltd is raising S$260.2 million ($208.7 million) by selling new shares to investors including Chinese sovereign wealth fund CIC and private equity firm RRJ Capital.
Singapore-listed water companies have been attracting big-name investors as they profit from exporting their expertise to China, which plans to spend $850 billion over the next decade to improve its scarce and polluted water supplies………………………………………..Full Article: Source

Posted on 15 October 2013 by VRS |  Email |Print

Norway’s government has told its $790 billion oil fund to sell holdings in five companies because of environmental issues and expressed concern over others, including Shell and Eni, the finance ministry said on Monday.
The fund, the world’s largest sovereign wealth fund, is barred from investing in WTK Holdings Berhad, Ta Ann Holdings Berhad, Zijin Mining Group and Volcan Compania Minera because their activities pose a “risk of severe environmental damage”, it said in a statement. But contrary to the recommendation of its Ethic Council, the government did not place Royal Dutch Shell and Eni on its watch list for possible exclusion and instead asked the fund to place a greater emphasis on scrutinising their activities in the Niger Delta………………………………………..Full Article: Source

Posted on 15 October 2013 by VRS |  Email |Print

Norway’s $760 billion pension fund has divested from two Malaysian forestry companies due to ’severe environmental damage’. On Saturday, the Norwegian Government Pension Fund Global (GPFG) — the world’s largest sovereign wealth fund — announced it has sold stakes in WTK Holdings Berhad and Ta Ann Holdings Berhad, Malaysian companies with extensive logging operations and timber plantations.
The decision is based on recommendations from the fund’s Council on Ethics, which conducted an investigation that found “unacceptable risk” of large-scale forest destruction, non-compliance with environmental laws, and poor forest management practices………………………………………..Full Article: Source

Posted on 15 October 2013 by VRS |  Email |Print

Norway is sitting on a huge pot on money – and a new government now being formed in the country is considering investing some of that vast stock of wealth in renewable energy projects around the world.
World Wildlife Fund (WWF) wants the Norwegian fund to allocate 5% of its portfolio to direct investments in renewable energy infrastructure and projects – and to end its investments in coal and tar sands. The fund – officially known as the Norwegian Government Pension Fund Global, which up to 2006 was called the Petroleum Fund of Norway – was formed in 1990 and makes its money through taxes from Norway’s substantial oil and gas sector………………………………………..Full Article: Source

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