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Sovereign Wealth Funds Briefing 10.Mar 2014

Posted on 10 March 2014 by VRS |  Email |Print

An SWF can give fresh impetus to the local economy and increase the nation’s influence on the global economy and finance. There are quite a few examples of how an SWF can work to raise a nation’s political and economic clout and boost national income. There are more than 30 such funds in the world today.
Besides the more famous ones in Brunei, Kuwait, Norway and Singapore, mainland China in September 2007 used some of its foreign exchange reserves to set up China Investment Corp. France also set up an SWF in the wake of the 2008 financial crisis out of considerations of national economic security………………………………………..Full Article: Source

Posted on 10 March 2014 by VRS |  Email |Print

A government official has said that the government of Singapore will not ask tis investment arm to take on riskier bets for higher returns. The official said that Singapore sovereign-wealth fund GIC Pte. Ltd., and the state investment company Temasek Holdings Pte. Ltd will not be asked to buy riskier investments to increase revenues even as government expects spending increases to be higher than revenue growth in the coming decade.
Josephine Teo, senior minister of state for finance said, “Our government spending needs will increase over time, but that should not drive the investment strategies of GIC and Temasek. If the government is in need of more revenues besides that obtainable the solution is not for our investment entities to take more risk in the hope of higher returns.”……………………………………….Full Article: Source

Posted on 10 March 2014 by VRS |  Email |Print

Societe Generale SA (GLE), France’s second-largest bank, was sued in the U.K. by the Libyan Investment Authority, after the sovereign-wealth fund sued Goldman Sachs Group Inc. in January over derivatives trades.
The claims against Societe Generale exceed $1.5 billion and involve derivative transactions that took place from 2007 to 2009, a spokesman for LIA, who asked not to be identified, said in an e-mailed statement………………………………………..Full Article: Source

Posted on 10 March 2014 by VRS |  Email |Print

Campbell Macpherson & Associates is to advise the Abu Dhabi Investment Authority on strategy and delivery. The work will focus on the sovereign wealth fund’s evaluation and follow up division, which is responsible for providing analysis and recommendations on investment proposals.
Founded in 1976 by the government of Abu Dhabi, ADIA’s purpose is to invest for the benefit of the emirate’s future generations………………………………………..Full Article: Source

Posted on 10 March 2014 by VRS |  Email |Print

As part of efforts to further strengthen the Nigerian Bulk Electricity Trading Plc (NBET), otherwise known as the Bulk Trader, the federal government has secured a fresh $350 million Eurobond facility to boost its operations.
Okonjo-Iweala, who is Chairman of the Board of NBET, informed that the $350 million facility has been given to the Sovereign Wealth Fund (SWF) to manage on behalf of the bulk trader. According to her, the decision was informed by the need to manage the facility in a way that the federal government can repay the loan by investing the money………………………………………..Full Article: Source

Posted on 10 March 2014 by VRS |  Email |Print

Alaska’s Permanent Fund Corporation has mandated LaSalle Investment Management to invest £250m (€304m) in UK property. The fund will seek investments between £50m and £150m, LaSalle said.
All commercial real estate sectors, including mixed-use property, will be considered. The move by Alaska is the first time it has considered European commercial real estate………………………………………..Full Article: Source

Posted on 10 March 2014 by VRS |  Email |Print

Norway’s $850 billion sovereign wealth fund, the world’s largest, must answer questions on its acquisition of a stake in Formula One, Norwegian parliamentarians said on Friday. The fund, which invests Norway’s oil and gas revenues, bought a $1.6 billion (£1b) stake in motor racing’s Formula One in May 2012, together with investors BlackRock and Waddell & Reed.
The call by politicians comes after the newspaper Dagens Naeringsliv questioned whether the fund violated its mandate by making the deal. The fund can only buy a stake in an unlisted company if the company plans an initial public offering. After the deal was made, a planned Formula One IPO was cancelled………………………………………..Full Article: Source

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