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Sovereign Wealth Funds Briefing 10.Feb 2014

Posted on 10 February 2014 by VRS |  Email |Print

The State Oil Fund of Azerbaijan (SOFAZ) has announced a tender for the selection and installation of analytical software to access the database on investments in private equity in foreign capital markets, the fund said on Feb.7.
Tender bids should be submitted by 18:00, March 14, 2014. Opening of bids will take place at 11:00 on March 15, according to the fund…………………………………..Full Article: Source

Posted on 10 February 2014 by VRS |  Email |Print

The government does not propose to set up a Sovereign Wealth Fund for the pension sector. “At present, there is no proposal under the consideration of the Department of Economic Affairs in the Ministry of Finance to set up a Sovereign Wealth Fund,” Minister of State for Finance told the Parliament.
A sovereign wealth fund (SWF) is a state-owned investment fund investing in real and financial assets such as stocks, bonds, real estate,precious metals,or in alternative investments such as private equity fund or hedge funds…………………………………..Full Article: Source

Posted on 10 February 2014 by VRS |  Email |Print

The new head of Korean sovereign fund KIC has embarked on the largest restructuring in the institution’s history to align it with international best practice as it strives to improve returns.
Ahn ‘Hank’ Hong-Chul, named chief executive at $72 billion Korea Investment Corporation last December, has announced plans to establish a research centre within the investment management division at its Seoul headquarters…………………………………..Full Article: Source

Posted on 10 February 2014 by VRS |  Email |Print

Gao Xiqing ’86, the former president and chief investment officer of China’s sovereign-wealth fund, the China Investment Corporation, will address Duke Law’s 2014 graduates at their May 10 hooding ceremony.
Gao, who attended the Law School as a Richard Nixon Scholar, has served as a Duke University trustee since 2008 and was recently appointed by President Richard H. Brodhead as a founding member of the Duke Kunshan University Advisory Board. Gao has regularly taught courses at Duke Law pertaining to Chinese company and securities law…………………………………..Full Article: Source

Posted on 10 February 2014 by VRS |  Email |Print

Chinese investment in British real estate has increased remarkably and will continue in the coming years, industry insiders say. Dalian Wanda Group, one of China’s largest and most ambitious conglomerates, plans to invest up to 3 billion pounds ($4.97 billion) in regeneration projects in Britain.
British Prime Minister David Cameron announced the investment on Jan 24 after meeting Dalian Wanda chairman Wang Jianlin at the World Economic Forum in Davos, Switzerland.”When I met Chairman Wang Jianlin during my recent trade visit to China, I encouraged him to make further investment in Britain. So I’m delighted that Wanda has decided to invest 2 to 3 billion pounds in regeneration projects,” Cameron said…………………………………..Full Article: Source

Posted on 10 February 2014 by VRS |  Email |Print

Africa’s biggest oil producer Nigeria is facing questions about where billions of dollars in oil money is going, amid suspicions of fraud and it being syphoned off to fund election campaigns. The issue has been rumbling on since September, when the governor of the Central Bank of Nigeria accused the Nigerian National Petroleum Corporation of withholding $49.8 billion in oil revenue.
Some of the funds go into a rainy-day fund, called the Excess Crude Account (ECA), to ensure the government budget is financed in case world oil prices fall sharply. According to the latest central bank figures, the ECA held $11.5 billion at the end of 2012, but this had dropped to $2.5 billion in January this year………………………………….Full Article: Source

Posted on 10 February 2014 by VRS |  Email |Print

Legislators get paid to make decisions. We expect them to make not only the small ones but also the big ones. With that in mind, the idea of cementing the annual Alaska Permanent Fund dividend program in the state Constitution to prevent legislators from steering money away from it for other purposes is a bad idea. But that’s what House Joint Resolution 17 would do.
The Permanent Fund itself is a part of the Alaska Constitution. Voters overwhelmingly approved it in 1976, adding Section 15 to Article IX…………………………………..Full Article: Source

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