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Sovereign Wealth Funds Briefing 25.Feb 2014

Posted on 25 February 2014 by VRS |  Email |Print

State General Reserve Fund (SGRF), the largest sovereign wealth fund of the government, has launched a ‘Whistle Blowing Policy’ aimed at encouraging the SGRF staff to report illegal practices and incidents that violate the rules of ethical behaviour at work and disclose any concerns directly related to SGRF and its operations.
The policy was launched on Sunday at the SGRF premises, during a two-day Risk and Compliance event organised with the aim of introducing the new policy to all the employees. The event was attended by H E Abdulsalam Mohammed al Murshidi, CEO, SGRF………………………………………..Full Article: Source

Posted on 25 February 2014 by VRS |  Email |Print

Sovereign wealth fund 1Malaysia Development Bhd. may build the nation’s biggest solar power plant ahead of an initial public offering, the Edge Financial Daily reported, citing industry sources it didn’t identify.
The project would help diversify 1MDB’s 3,951-megawatt power-generation portfolio, which it plans to list, according to the report. 1MDB didn’t immediately respond to an e-mail and phone call requesting comment………………………………………..Full Article: Source

Posted on 25 February 2014 by VRS |  Email |Print

1MDB said it had “invested the proceeds with regulated and licensed international fund managers. These fund managers adopt an absolute return strategy of which the primary investment objective is to achieve long-term capital appreciation and/or steady income through investments in listed and/or unlisted companies”.
“A total of US$200 million (RM658.9 million) has been remitted from the fund to the 1MDB group in Malaysia to service repayment. Out of this, US$134 million (RM430 million) is from the 5.76 percent cash dividend generated within the first year of the investment period.”……………………………………….Full Article: Source

Posted on 25 February 2014 by VRS |  Email |Print

GMR Group has offered a clutch of private equity investors a small stake in its flagship company to compensate for a delay in facilitating their exit in one of GMR’s units. The Bangalore-based infrastructure company said on Friday that Singapore’s state-owned investment firm Temasek Holdings Pte Ltd, and a consortium of investors led by Indian private equity (PE) firm IDFC Alternatives have agreed to restructure their investments in GMR Energy Ltd (GEL).
It said GMR Infrastructure Ltd, the flagship company of GMR Group, will give convertible preferred shares (CCPs) worth Rs.788.8 crore to Temasek and CCPs worth Rs.347.8 crore to the IDFC consortium………………………………………..Full Article: Source

Posted on 25 February 2014 by VRS |  Email |Print

In the investment world, one must either be very dumb or very smart to make moves such as the one reportedly being contemplated by the Singapore sovereign fund Temasek Holdings Pte in Thailand.
Reports over the past week said that Temasek was looking to divest its shareholding in Shin Corp Plc (now called Intouch or INTUCH), and make a financial killing in the process. Temasek purchased nearly 96% of Shin in 2006 for 49.25 baht a share and is sitting on potential capital gains of billions of dollars as the current share price of INTUCH is around 70 baht………………………………………..Full Article: Source

Posted on 25 February 2014 by VRS |  Email |Print

Petter Johnsen is perhaps the biggest fund manager in equity markets you’ve never heard of. He controls about $530bn worth of shares, owning on average 1.25 per cent of every single listed company in the world.
The reason he is no Bill Gross or John Paulson in the recognition stakes is all down to his employer: Norges Bank Investment Management, the arm of Norway’s central bank that manages the world’s largest sovereign wealth fund, with assets of close to $840bn………………………………………..Full Article: Source

Posted on 25 February 2014 by VRS |  Email |Print

Norway’s Government Pension Fund-Global has revealed plans to double its equities investment team to almost 200 people. The $840 billion fund is already the world’s largest equities investor, and has told the Financial Times that it plans to increase its staffing capability to eke out better returns.
Petter Johnsen, CIO for equities at the fund, told the newspaper its current team of around 85 to 90 people needed to be double its current size so it was “recruiting actively”………………………………………..Full Article: Source

Posted on 25 February 2014 by VRS |  Email |Print

Africa Investor (AI), a leading international investment and communications group, has announced that Nigeria will host African pension and sovereign wealth funds at the Africa investor CEO Infrastructure Investment Summit, taking place in Abuja on May 6-7.
The Sovereign Wealth and Pension Fund Leaders Dialogue on Investing in Africa’s Infrastructure will be the first of its kind to engage Africa’s pension and sovereign wealth funds on investing in the continent’s wealth of bankable infrastructure investment opportunities………………………………………..Full Article: Source

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