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Sovereign Wealth Funds Briefing 25.Oct 2013

Posted on 25 October 2013 by VRS |  Email |Print

New Zealand’s Superannuation Fund said on Friday it had entered a conditional agreement to buy a 17 percent stake in retirement village operator Metlifecare for NZ$126 million ($105.11 million). Under the agreement, the fund would buy shares for NZ$3.53 per share, and take the fund’s total holding of the company to 19.9 percent.
The announcement follows a statement by New Zealand infrastructure investor Infratil Ltd earlier in the day that it would buy a 19.9 percent stake in Metlifecare………………………………………..Full Article: Source

Posted on 25 October 2013 by VRS |  Email |Print

India will approach sovereign wealth funds to invest in government securities as it draws up a plan to counter outflows when the U.S. Federal Reserve starts tapering its stimulus.
The government plans to meet officials of sovereign wealth funds based in Australia and West Asia, the official, who asked not to be identified before a public announcement, told reporters. The investment will be sought in the underutilized portion of the $5 billion reserved for such investors………………………………………..Full Article: Source

Posted on 25 October 2013 by VRS |  Email |Print

Sovereign wealth funds would be approached to invest in government securities. This is one of the strategies to prepare India for the effects of the US Fed withdrawing the quantitative easing in that country. Finance minister P Chidambaram on Thursday asked financial sector regulators to draw up plans to counter outflows when the US begins to taper the quantitative easing early next year.
A finance ministry official said the government plans meet to sovereign wealth fund managers based in Australia and West Asia. The investment would be sought in the underutilised portion of the $5 billion reserved for such investors………………………………………..Full Article: Source

Posted on 25 October 2013 by VRS |  Email |Print

America needs at least $8.2 trillion to keep energy, water and transportation infrastructure in a good state of repair between now and 2030, according to a new report by the US Chamber of Commerce. The best way to cover that gargantuan expense? Investment from China.
In the UK, Chinese investors can own majority stakes in future nuclear plants. The country’s sovereign wealth fund, China Investment Corporation, (CIC) also owns 9% of the company that controls the UK’s largest water and sewage company. In the US, CIC owns a minority stake in EIG Global Energy Partners, an asset manager that invests in energy and resources-related infrastructure………………………………………..Full Article: Source

Posted on 25 October 2013 by VRS |  Email |Print

Malaysian government investment arm Khazanah Nasional has demanded for an apology from a news portal for two articles implying it failed to respond to a letter or queries from the Auditor-General over operations and investments.
It said in a statement that there was no such letter or request from the A-G and they had always responded to queries in a professional and timely manner. Khazanah added that The Malaysian Insider did not contact them on the veracity of the claims in its articles “Parliament’s bipartisan oversight panel probes Khazanah’s costly ventures” and “PAC siasat perbelanjaan melampau Khazanah.”……………………………………….Full Article: Source

Posted on 25 October 2013 by VRS |  Email |Print

Public Accounts Committee (PAC) has instructed the Auditor-General’s Office to get Khazanah Nasional Berhad to explain several of its ventures which went bust. “We had a meeting earlier with the deputy auditor-general (Anwari Suri). The recent audit done on Khazanah was limited.
“But recently, the media reported that some of Khazanah’s ventures did not turn out well. So we will ask the agency to give an official answer,” said PAC chairman Nur Jazlan Mohamed………………………………………..Full Article: Source

Posted on 25 October 2013 by VRS |  Email |Print

British Land’s shares were suddenly hot property as rumours of a £8.99billion or £9 a share cash bid from a sovereign wealth fund swept dealing rooms just before lunch. They were chased up to 629p before closing 10p higher at 623p, currently valuing London’s biggest landlord at £6.2billion.
GIC, one of the world’s largest sovereign wealth funds, has been a long-term holder of a 3.95 per cent stake, but the Kuwait Investment Authority was the name in the frame. It is the country’s sovereign wealth fund and has doubled its investment in the UK over the past ten years to more than £15billion………………………………………..Full Article: Source

Posted on 25 October 2013 by VRS |  Email |Print

Sovereign wealth funds have flocked to hedge funds in recent years—but not that of Oman. The oil-rich Arabian country’s US$6 billion Oman Investment Fund plans to invest in emerging market stocks and real-estate in stable countries, but won’t be hiring any hedge funds.
In his first interview in at least seven years, OIF CEO Hassan Al Nabhani told Bloomberg News, “hedge funds are not transparent enough in their strategies and the risk they take do not compensate for the returns and the fees they charge.”……………………………………….Full Article: Source

Posted on 25 October 2013 by VRS |  Email |Print

The Alaska Permanent Fund returned 4.6 percent for the first quarter of fiscal year 2014, and increased in value by $2.2 billion from the start of the fiscal year to reach $47.0 billion, according to unaudited figures released by the Corporation. The Fund’s investments were positioned more conservatively (and assumed less risk) than the composite performance benchmark, and as a result lagged the benchmark return of 5.7 percent for the period ending September 30.
The Fund’s stock portfolios, which comprised close to half the Fund’s investments, drove the positive performance for the quarter. The U.S. portfolio returned 8.3 percent, while the Non-U.S and global portfolios gained 8.8 and 8.0 percent respectively………………………………………..Full Article: Source

Posted on 25 October 2013 by VRS |  Email |Print

The construction works of new building of the State Oil Fund of Azerbaijan are on the point of completing. Height of the building is 127 meters and it will consist of 23 floors. Two floors are considered for parking.
Spokesman of AS Group Investment, which constructs official building of SOFAZ, Elchin Niyazov, told APA-Economics that these construction works are being carried out jointly with Besiks Group (Belgium). He noted that he construction works will be completed at the beginning of next year………………………………………..Full Article: Source

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