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Sovereign Wealth Funds Briefing 29.Nov 2013

Posted on 29 November 2013 by VRS |  Email |Print

The Zimbabwe National Chamber of Commerce has called for the business community to closely work with Government in the implementation of the economic blueprint, Zimbabwe Agenda for Sustainable Socio-Economic Transformation, to revive the economy.
The ZNCC national president, Mr Hlanganiso Matangaidze said in a recent interview that it was imperative for business and Government to bury grudges if ZIMASSET is to work.His comments come following the launch of the Sovereign Wealth Fund of Zimbabwe Bill by Cabinet recently, which is expected to help fund the ZIMASSET………………………………………..Full Article: Source

Posted on 29 November 2013 by VRS |  Email |Print

Russia’s state-backed private equity investment fund said Thursday it would team up with state-backed French bank Caisse des Depots, or CDC, to invest 300 million euros ($407.23 million) in an existing joint investment platform.
The creation of the Russia-France investment fund worth a total 1 billion euros was backed by the two countries’ presidents, Vladimir Putin and Francois Hollande, earlier this year in a bid to boost bilateral direct investment. The Russian Direct Investment Fund, or RDIF, was set up two years ago with capital of $10 billion with a brief to win over strategic investors who have steered clear of Russia due to concerns over rampant graft and the rule of law………………………………………..Full Article: Source

Posted on 29 November 2013 by VRS |  Email |Print

Norway’s new Prime Minister, Erna Solberg of the Conservative Party, who entered into office on 16 October, may at first instance appear less occupied by global issues like climate change than her predecessor Jens Stoltenberg of the Labour party.
But on a few critical climate issues she looks like more of a reformer than Mr Stoltenberg, in particular when it comes to what role Norway’s enormous Sovereign Wealth Fund could play in financing the transition to a low-carbon economy. In the new Government’s programme, the coalition partners made the following statements regarding the $720bn sovereign wealth fund:……………………………………….Full Article: Source

Posted on 29 November 2013 by VRS |  Email |Print

The Mongolian government plans to slash the number of state-owned enterprises (SOEs) by one third to encourage private investment and set up a sovereign wealth fund, said Mongolian President Tsakhia Elbegdorj
Mongolia will also enact a law that will discourage companies owned by Mongolian ministers from competing with foreign and private firms, he said. Competition between Mongolian SOEs and private firms is “not good”, Elbegdorj told a Hong Kong Trade Development Council (TDC) luncheon audience that included Hong Kong businessmen………………………………………..Full Article: Source

Posted on 29 November 2013 by VRS |  Email |Print

Singapore sovereign fund Temasek Holdings’ investment fund, Fullerton Fund Management, has bought stake in Indian film distributor Eros International Media Ltd to gain a foothold in the Indian movie industry.
Fullerton Fund has purchased 20 lakh shares in Eros International, which aggregates to 8.7% stake in the company on November 13. Mumbai-based Eros International started trading on the New York Stock Exchange on November 13, according to a filing by the company with the US Securities and Exchange Commission on November 25………………………………………..Full Article: Source

Posted on 29 November 2013 by VRS |  Email |Print

As Sovereign Wealth Funds (SWFs) have grown in number and AUM they have become more significant to the hedge fund industry. According to data from Preqin, assets managed by SWFs are up 76% in the last 5 years as existing funds have grown, and new funds have been formed. Total assets across all SWFs is estimated to be $5.3 tn, up a cool $750bn in this year alone.
As with any institutional investors, the appetite for alternative assets is partly a function of seasoning – the length of time the operation has been established. Like a pension plan, SWFs typically look to add alternatives after having established and implemented investment policies (and so asset allocations) across traditional assets………………………………………..Full Article: Source

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