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Sovereign Wealth Funds Briefing 05.Dec 2013

Posted on 05 December 2013 by VRS |  Email |Print

It is commonly believed that sovereign wealth funds often invest on behalf of governments for strategic reasons and as an instrument of foreign policy, but Temasek Holdings does not share the characteristics of most sovereign wealth funds, said its chairman Lim Boon Heng.
In his first public speech as Temasek’s chairman, the former politician said the founding of Temasek was premised on a separation between the Government’s role as a policymaker and as a shareholder. The Singapore government is the sole shareholder in Temasek Holdings………………………………………..Full Article: Source

Posted on 05 December 2013 by VRS |  Email |Print

Brazil’s government won’t resort to tapping its sovereign-wealth fund to cover for any possible shortfalls in meeting its budget surplus target this year, Treasury Secretary Arno Augustin said Wednesday.
Speaking to reporters following testimony at the country’s congress, Mr. Augustin denied that the government would need recourse to extraordinary measures to meet its budget goals. “We’re working with a target of BRL73 billion for the central government, and all the information we have until the moment point toward our compliance with the target,” he said………………………………………..Full Article: Source

Posted on 05 December 2013 by VRS |  Email |Print

Sovereign funds’ bet on Spanish companies continued to be strong during 2012-13. Spain and its brands were these global investors’ favourite picks in the euro zone, overcoming English, German or French firms. The trend is to be renowed in 2014 because of their strong presence in the emerging markets of Latin America.
It is a fact that foreign money of different nature, from vulture funds to venture capitals or investment funds is flowing right now into the Spanish economy. But what about sovereign funds coming from rich oil exporters countries such as Saudi Arabia, Dubai, Qatar, Norway, Russia or China? These are considered the definitive test for the international investment health in Spain. The general perception is that the country is only in the focus of vulture funds, not core ones, much more conservative, or those sovereign investors………………………………………..Full Article: Source

Posted on 05 December 2013 by VRS |  Email |Print

The Chinese government may withdraw investments in Japan as a way to retaliate against the United States and Japan for opposing China’s newly established air defense identification zone. A shareholder listed as SSBT OD05 Omnibus China Treaty 808150, which is widely considered a Chinese sovereign fund, has reduced its Japanese investment by 600 billion yen (US$5.8 billion) between March and September this year, according to our Chinese-language sister paper Want Daily and the Tokyo-based Sankei Shimbun.
The sovereign wealth fund had invested around 4.24 trillion yen (US$41.3 billion) in 174 Japanese businesses as of March this year but the figure had dropped by 607.4 billion yen (US$5.9 billion) as of the end of September. It was the ninth largest shareholder of the Toyota Motor Corporation with a 300.1-billion-yen investment in March but by September, it was no longer one of the Japanese carmaker’s ten major shareholders, said Japan’s Chibagin Securities………………………………………..Full Article: Source

Posted on 05 December 2013 by VRS |  Email |Print

Canada’s official international reserves rose $541 million in November, the federal Finance Department reported. At Nov. 29, the reserves of foreign currencies, gold and other monetary assets totaled $72.038 billion, up from $71.497 billion a month earlier.
All reserve figures are reported in U.S. funds. The government reported no official intervention in the foreign-currency market in November. There were 287 ounces of gold coins sold in November, leaving month-end gold holdings at 97,674 ounces………………………………………..Full Article: Source

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