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Sovereign Wealth Funds Briefing 31.Oct 2013

Posted on 31 October 2013 by VRS |  Email |Print

Zimbabwe plans to craft a law to set up a sovereign wealth fund by next February - but it may not have any money at first as the government desperately needs to develop the country’s crumbling infrastructure, the finance minister said.
Patrick Chinamasa also said on Wednesday that the government would consider a first international bond issue to help finance its mining sector. The southern African country has previously said it wanted to create a sovereign wealth fund to buy shares in foreign-owned companies, including mines, under President Robert Mugabe’s controversial black economic empowerment programme……………………………..Full Article: Source

Posted on 31 October 2013 by VRS |  Email |Print

Qatar’s $100 billion sovereign wealth fund is reportedly considering impact investment – a strategy that balances social or environmental objectives with financial returns.
The investment arm of Qatar Investment Authority (QIA), Qatar Holdings, is thought to have invested around $30 billion during the course of 2012. Reports now suggest that a proportion of this will now be used to deliver social and environmental improvements as well as financial returns……………………………..Full Article: Source

Posted on 31 October 2013 by VRS |  Email |Print

Qatar’s sovereign wealth fund, the Qatar Investment Authority, owns Bank of America Corp. (BAC) shares worth about $1 billion, the Financial Times reported Wednesday. The fund’s Qatar Holding arm began buying shares about two years ago and bought more last year when the stock price was in the $7 to $8 range, the FT reported, citing a person close to the fund.
Bank of America shares closed Wednesday at $14.17, up 2 cents. The FT report noted that the stake, which represents less than a 1% interest, falls below the 5% level that would require disclosure under U.S. regulations……………………………..Full Article: Source

Posted on 31 October 2013 by VRS |  Email |Print

Singapore’s Government Investment Corporation is looking at making a major debt play in Australia that could see it provide finance to developer Terry Agnew secured against the landmark $300 million Northpoint complex that dominates the North Sydney skyline.
The debt play could give the Singaporean giant, which has one of Australia’s largest direct property portfolios as well as stakes in listed trusts, further exposure to a local property debt as it has already invested $200m in the sector through Challenger……………………………..Full Article: Source

Posted on 31 October 2013 by VRS |  Email |Print

GIC Pte. Ltd., Singapore’s sovereign wealth fund, said Wednesday it is buying an office tower under development in Jakarta by Indonesian conglomerate Rajawali Group.
GIC didn’t disclose the cost of the acquisition. The 47-floor tower would be located in the Indonesian capital’s central business district, and comprise international grade-A office space, the sovereign wealth fund said in a joint statement with Rajawali……………………………..Full Article: Source

Posted on 31 October 2013 by VRS |  Email |Print

The Republic’s sovereign wealth fund GIC is buying a Grade A office tower under development in Jakarta’s central business district, adding to its portfolio of assets in South-east Asia’s largest economy.
The 47-storey building is part of a mixed-use development being built by Indonesian conglomerate Rajawali Group and due for completion at the end of 2015. The property includes an arm of The St Regis Hotel and retail podium for food-and-beverage outlets……………………………..Full Article: Source

Posted on 31 October 2013 by VRS |  Email |Print

Pavilion Energy Pte, the liquefied natural gas unit of Singapore’s state-owned investment company, made its first long-term deal with a European supplier. Pavilion Energy, owned by Temasek Holdings Pte, will receive 500,000 metric tons a year of LNG for 10 years starting in 2018, the company said in an e-mail, without identifying the seller.
The contract is with “a major European oil and gas multinational” for delivery into Singapore and the region, Chief Executive Seah Moon Ming said in a speech at a conference in the city-state……………………………..Full Article: Source

Posted on 31 October 2013 by VRS |  Email |Print

Malaysia’s state investment arm Khazanah Nasional Bhd is due to officially open its fourth overseas office in Istanbul today, managing director Tan Sri Azman Mokhtar said late Tuesday here. The office which will facilitate Khazanah’s exposure into the Middle East and African countries, will be officiated by Turkish deputy Prime Minister Ali Babacan.
Azman said Khazanah’s first area of investment has always been in the Asian region but Turkey and Africa, which he said are Khazanah’s second focus area have always been on its radar for quite some time……………………………..Full Article: Source

Posted on 31 October 2013 by VRS |  Email |Print

New Zealand Superannuation Fund has returned an average of 9.13% in each year of its 10-year existence, new figures reveal. The returns are before tax after costs, says the fund’s manager, the Guardians of New Zealand Superannuation.
As at September 30, the fund was worth $23.93 billion. It has also paid $3.3 billion in New Zealand tax over the 10 years, including $980 million during the past 12 months. Guardians chairman Gavin Walker says the fund is comfortably ahead of its key performance benchmarks and it has beaten the government’s cost of debt over the decade by 4.26% a year, or $6.96 billion……………………………..Full Article: Source

Posted on 31 October 2013 by VRS |  Email |Print

Figures released last week by the Future Fund revealed it was outperforming the most aggressive of Australia’s pool super funds and was on track to reach its target of $140 billion a year early, in 2019.
The Australian reported the fund – intended to pay for defined benefit pensions to commonwealth public servants – “had beaten conventional super funds holding 100% growth assets by a handsome margin, even though it is widely invested in longer-term assets such as infrastructure and timber plantations”……………………………..Full Article: Source

Posted on 31 October 2013 by VRS |  Email |Print

Norway’s central bank Governor Oeystein Olsen urged lawmakers not to spend more than 3 percent of the nation’s oil fund as the new government reworks next year’s budget.
Norway, which uses oil money to plug its budget deficits, caps the spending at 4 percent of its $810 billion sovereign wealth fund to avoid overheating the economy. Olsen already in 2012 said 4 percent was too much, as the rule he helped design last decade is being undermined by the surging size of the fund……………………………..Full Article: Source

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