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Sovereign Wealth Funds Briefing 10.Jan 2014

Posted on 10 January 2014 by VRS |  Email |Print

Norway’s $820 billion sovereign wealth fund, the world’s largest, is closer to getting the go ahead to expand into more asset classes as it struggles to meet return targets.
Investing in pipelines, roads and other infrastructure would be a good fit for the wealth fund as the government considers ways to get more out of the investor, Prime Minister Erna Solberg said yesterday in an interview in Oslo…………………………….Full Article: Source

Posted on 10 January 2014 by VRS |  Email |Print

Norway’s sovereign wealth fund has grown so much that it makes every Norwegian citizen a “theoretical” millionaire. The country reached the milestone thanks to a recent increase in oil and gases prices during 2013.
While the rest of Europe remains mired in financial crisis, Norway has quietly been amassing a huge fortune which reached 5.11 trillion crowns ($828 billion) on Wednesday, according to figures from the country’s central bank - Norges Bank. The new figure is over a million times Norway’s population which totaled 5,096,300 in the third quarter of 2013……………………………..Full Article: Source

Posted on 10 January 2014 by VRS |  Email |Print

Norwegian Foreign Minister Borge Brende on Thursday said Norway’s Sovereign Wealth Fund, the largest in the world at $850 billion, has invested more than $500 million (P23.385 billion in the peso-dollar exchange rate on Thursday) in Philippine stocks and equities.
In talks with Foreign Secretary Albert F. del Rosario, the visiting Norwegian official said: “This is reflective of the great opportunities here in your country.” He added that the Philippines’s 7-percent economic growth was something Norway hopes would continue. “We also discussed with the secretary the importance of this growth being inclusive and that this growth would create necessary jobs.”…………………………….Full Article: Source

Posted on 10 January 2014 by VRS |  Email |Print

China Investment Corporation is selling 1.2 billion shares of GCL Poly Energy (3800) for about HK$3.12 billion. GCL Poly Energy announced yesterday that it was informed by Chengdong, a subsidiary of CIC, that it has entered into a placing agreement.
The placement price is HK$2.6, 7.8 percent discount to yesterday’s closing price of HK$2.82. Chengdong will hold 4.57 percent stake of GCL after the placement. It is the second time for the sovereign wealth fund to offload the solar power producer since last June……………………………..Full Article: Source

Posted on 10 January 2014 by VRS |  Email |Print

The CIO of the $61 billion Korean sovereign wealth fund (SWF) has quit just 15 months into a three-year term at the helm. Lee Dong-ik, recognised by aiCIO in 2012 as being one of the most influential global investors, has quit the Korea Investment Corporation (KIC), AsianInvestor.com has reported.
Lee had temporarily assumed the CEO and presidency of the KIC following the departure of Choi Chung-suk in October. This role was subsequently filled by the fund’s previous auditor Ahn “Hank” Hong-Chul who returned to the SWF in December……………………………..Full Article: Source

Posted on 10 January 2014 by VRS |  Email |Print

Zambia, Africa’s leading copper producer, plans to establish a sovereign wealth fund to stimulate investment in strategic non-mining industries, a treasury official said on Thursday.
“We are currently working on the concept which will be presented to cabinet,” the ministry of finance’s permanent secretary in charge of budget and economic affairs, Felix Nkulukusa, said……………………………..Full Article: Source

Posted on 10 January 2014 by VRS |  Email |Print

Insurance company Alfa Sığorta is satisfied with its achievements in 2013. As Board of Directors chairman Elshad Aliyev says that the main events for the Company were victory in the insurance tenders of the Central Bank and the State Oil Fund of Azerbaijan (SOFAZ).
“Winning in the struggle for voluntary health insurance of SOFAZ staff is particularly significant for us. This contract is especially important for us, as at that moment we only practically introduced new standards of VHI. For us, the Oil Fund is in fact the second corporate client on drastically renewed VHI,” Aliyev said……………………………..Full Article: Source

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