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Sovereign Wealth Funds Briefing 06.May 2014

Posted on 06 May 2014 by VRS |  Email |Print

Qatar’s sovereign wealth fund has bought the stakes in its national airline owned by a former prime minister and other shareholders, making Qatar Airways a fully government-owned entity, the carrier’s chief executive said on Monday.
A government source told Reuters that Qatar wanted ruling family members to have fewer direct stakes in local businesses. “There are changes happening. Qatar wants to have a fair and competitive business environment for everyone,” the source said………………………………………..Full Article: Source

Posted on 06 May 2014 by VRS |  Email |Print

Gulf state buys 50pc stake held by private investors headed by former prime minister Sheikh Hamad bin Jassim al-Thani. Policy changes in Qatar aimed at reducing the ruling family’s influence in key assets has seen the Gulf country’s airline come under state control and the money raised by investors used to pay £924m for Heritage Oil, a British-based explorer with interests in African states.
Qatar’s sovereign wealth fund has bought the 50pc holding of private investors headed by former prime minister Sheikh Hamad bin Jassim al-Thani, a member of the ruling elite ousted last year during a quiet but internally tense political shake-up………………………………………..Full Article: Source

Posted on 06 May 2014 by VRS |  Email |Print

Citigroup Inc. won a contract to deliver custody and securities-lending services to Norway’s $866 billion sovereign wealth fund, the world’s biggest, displacing previous provider JPMorgan Chase & Co.
The mandate from the fund “is believed to be one of the largest of its kind in the industry,” Citi said in a statement. The third-largest bank in the U.S. and Norges Bank Investment Management, which manages Norway’s fund, didn’t provide a value or duration for the contract. Thomas Sevang, a spokesman for NBIM, said the deal was “long term,” declining to comment further………………………………………..Full Article: Source

Posted on 06 May 2014 by VRS |  Email |Print

Investors from Norway held Korean won-denominated bonds worth 5.4 trillion won ($5.25 billion) as of end-March, up 4.7 percent from the end of last year, according to the financial watchdog.
The Norwegian sovereign fund Government Pension Fund Global has increased its investment in bonds sold by Asian countries, including South Korea, since the second half of 2012 as such debts have higher yields………………………………………..Full Article: Source

Posted on 06 May 2014 by VRS |  Email |Print

Temasek Holdings said on Monday there will be no further raises to their offer for commodities firm Olam International. Its offer stands at $2.23 per share, a premium of 11.8 per cent over the last traded price before the announcement.
It is also offering US$850.37 for every US$1,000 principal amount of convertible bonds, and 64.6 Singapore cents for each warrant. Temasek added it reserved the right to revise terms if a competing offer for Olam is announced, or if any other competitive situation in relation to Olam arises………………………………………..Full Article: Source

Posted on 06 May 2014 by VRS |  Email |Print

Historically, institutional investors have had to choose between two alternatives, alpha or beta (active or passive). Active managers were compensated for performance and earned fees for “generating” alpha, or excess returns relative to a benchmark. On the other side of the spectrum, lie passive investments – index investments that were simple to understand and - in most cases - transparent.
Fast forward to more recently, and a growing trend among a number of small quantitative shops that have developed factors in ranking stocks has emerged. This in turn led to the indexation of stocks using factors. It goes by many names: smart beta, advanced beta and even alternative beta. The systematic, rules-based approach of using factors in an index has attracted large public funds like sovereign wealth funds and pensions, due to a lower fee structure and greater transparency in holdings……………………………………….Full Article: Source

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