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Sovereign Wealth Funds Briefing 06.Jan 2014

Posted on 06 January 2014 by VRS |  Email |Print

Sovereign wealth funds are fast becoming the “must-have” for any natural resource-exporting country, and for any country hoping to commercialise reserves of oil, gas or minerals in the near future. East Africa has not been left behind, with Kenya, Uganda and Tanzania all considering the establishment of such funds.
But the question vexing analysts is whether these funds are suitable for the region’s economic, social and demographic profile, considering that the countries in which sovereign wealth funds have been successful have small populations, huge current account surpluses and very low public debt—none of which characterises East Africa………………………………………..Full Article: Source

Posted on 06 January 2014 by VRS |  Email |Print

The bidding war for Victorian dairy processor Warrnambool Cheese and Butter is attracting even more international attention. Media reports suggest the Chinese state-owned China Investment Corporation is interested in Australia’s oldest dairy processor.
Canadian company Saputo has a $9-a-share offer on the table that is due to expire this Friday. Agribusiness analyst Paul Jensz says he’s expecting Saputo will increase it’s shareholding to about 20 per cent this week and extend it’s offer beyond Friday………………………………………..Full Article: Source

Posted on 06 January 2014 by VRS |  Email |Print

An amended filing made by the Abu Dhabi Investment Authority (ADIA) suggests that the Gulf-based sovereign wealth fund may have been one of the main buyers of a large stake in General Growth Partners Inc. (GGP) sold by the China Investment Corporation through Brookfield Asset Management.
In mid-December, ADIA submitted an SEC filing stating that, through its sovereign wealth enterprise, Revere Holdings Limited, it purchased over 17.6 million shares in General Growth and warrants to purchase just over 3 million shares through “consortium liquidity transactions” for “cash”………………………………………..Full Article: Source

Posted on 06 January 2014 by VRS |  Email |Print

Singapore’s famous sovereign wealth fund, the Government of Singapore Investment Corporation (GIC Private Ltd) has been charged with the task of managing the island country’s foreign reserves.
With its objective of preserving and enhancing the international purchasing power of the reserves, and the aim of achieving good long-term returns above global inflation over the investment time horizon of 20 years, the sovereign wealth fund is known for its well structured investing mandate and responsible management of the government’s money………………………………………..Full Article: Source

Posted on 06 January 2014 by VRS |  Email |Print

If pension funds, insurers and sovereign wealth funds were hoping to cash in on lending “high quality” assets to those scrambling to meet tougher collateral requirements in 2014, they are likely to be disappointed.
The phasing in of the U.S. Dodd-Frank Act and its European equivalent EMIR (European Markets Infrastructure Regulation) over the next 18 months is expected to boost demand for assets like top rated sovereign debt to back derivative trades………………………………………..Full Article: Source

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