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Sovereign Wealth Funds Briefing 22.Apr 2014

Posted on 22 April 2014 by VRS |  Email |Print

Taiwan’s move to merge the investment activities of its four main public pension funds has renewed speculation that the country plans to set up a sovereign wealth fund.
The four schemes, which have combined assets of some $100bn, have been dogged by performance issues. They will now be managed by a single investment department under the stewardship of the revamped Bureau of Labor Funds………………………………………..Full Article: Source

Posted on 22 April 2014 by VRS |  Email |Print

Prime-Minister of Kazakhstan Karim Massimov has been appointed Chairman of the Board of Directors of Samruk-Kazyna Sovereign Wealth Fund, Tengrinews reports citing the website of the Kazakhstan Stock Exchange (KASE).
He was appointed by the governmental decree No. 329 as of April 9, 2014. Serik Akhmetov, former Prime-Minister of Kazakhstan and currently the country’s Defense Minister, chaired the board before the new appointment. He was first replaced by Karim Massimov as Kazakhstan’s Prime-Minister on April 2 and is now replaced as Chairman of Kazakhstan’s Wealth Fund………………………………………..Full Article: Source

Posted on 22 April 2014 by VRS |  Email |Print

Goldman Sachs Group Inc. (GS) will seek to have a $1 billion lawsuit by the Libyan Investment Authority thrown out before trial. The bank will ask a London judge to decide whether the case has a realistic chance of success and issue a so-called summary judgment, according to court documents released this week.
Libya’s sovereign wealth fund says Goldman made about $350 million selling investments that turned out to be worthless. The LIA said in a statement it “considers this application to be misconceived and looks forward to full and proper determination of all issues by the English court.”……………………………………….Full Article: Source

Posted on 22 April 2014 by VRS |  Email |Print

Abdulmagid Breish, the chairman of Libya’s $66 billion sovereign wealth fund, said it plans to hire external companies to manage about $11 billion of its assets under a restructuring plan. The Libyan Investment Authority (LIA), valued at about $66 billion by Deloitte, will split its assets into three distinct funds starting as soon as next year, Breish said in an interview in London on Thursday.
“The LIA is preparing itself to come back to the international fold,” he said. “We will use best-of-breed fund managers, advisers and consultants,” he said, without specifying which companies will be invited to bid for the work………………………………………..Full Article: Source

Posted on 22 April 2014 by VRS |  Email |Print

The government is formulating legislation for the establishment of a Sovereign Wealth Fund in a bid to manage the proceeds from natural gas.The upshot is ensuring that the resource benefits current and future generations, President Jakaya Kikwete has said.
The president has revealed that the government would by October, this year or February, next year, move a Bill in the National Assembly for establishment of the fund.The country has so far discovered 43.1 trillion cubic feet (tcf) of natural gas in offshore and onshore gas fields and exploration is still ongoing………………………………………..Full Article: Source

Posted on 22 April 2014 by VRS |  Email |Print

Tanzania will soon establish a sovereign wealth fund (SWF) to safeguard, monitor and safeguard proceeds from the country’s natural resources, especially natural gas. President Jakaya Kikwete revealed the government plans on the proposed fund during talks with editors of various media houses in Dar es Salaam recently.
He rightly underscored the importance of the proposed fund in managing proceeds from the country’s vital resources for the benefit of the current and future generations………………………………………..Full Article: Source

Posted on 22 April 2014 by VRS |  Email |Print

1Malaysia Development Bhd, the government’s sovereign wealth fund, saw its net profit surge 74% to RM778.24 million for the year ended March 31, 2013 from RM44.72 million a year before.
Revenue in the same 12-month period grew four times to RM2.59 billion from RM633.2 million previously. However, its liabilities, basically its debts or obligations, ballooned more than five times to RM42.3 billion from RM8.4 billion as at the end of the financial year March 31, 2012………………………………………..Full Article: Source

Posted on 22 April 2014 by VRS |  Email |Print

Global fund assets are projected to grow by 60% to $101.7 trillion by 2020, fuelled by the shift toward individual retirement plans, a surge in high-net-worth individuals in emerging markets and growth in sovereign wealth fund (SWF) assets, PwC says.
Rapid urbanisation and demographic changes, especially within emerging markets, will lead to substantial growth in the real estate investment industry over the next six years. This will prompt institutional investors to raise allocations in real estate more than in other asset classes, according to Real Estate 2020: Building the future, a report from PwC………………………………………..Full Article: Source

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