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Sovereign Wealth Funds Briefing 05.Jun 2014

Posted on 05 June 2014 by VRS |  Email |Print

Norway’s $880 billion sovereign wealth fund, the world’s largest, is throwing its support behind Brad Katsuyama’s new exchange. Katsuyama’s IEX Group Inc., made famous inMichael Lewis’s best-selling book “Flash Boys,” could shield investors from the predatory habits of high-frequency traders, said the fund, which holds $521.2 billion in stocks globally and is Europe’s biggest equity investor.
“IEX is a trading venue where all players participate on the same terms,” oil fund spokesman Thomas Sevang said in an e-mailed response to questions. “We support this.”……………………………………….Full Article: Source

Posted on 05 June 2014 by VRS |  Email |Print

The State Oil Fund of Azerbaijan (SOFAZ) is growing more slowly than the country’s economy for the first time in history. According to the SOFAZ 2013 annual report, last year the Fund’s assets increased from $34.13 bn up to $35.88 bn or by 5.12%, while the economic growth in Azerbaijan reached 5.8%. For comparison, in 2012 the Fund’s assets increased by 14.53%.
The visible lagging from the economic growth rate has already led to reduction of the Fund’s role. Last year its assets ratio to Azerbaijan’s GDP reduced from 48.9% to 48.8% of GDP………………………………………..Full Article: Source

Posted on 05 June 2014 by VRS |  Email |Print

Assets of Azerbaijani State Oil Fund (SOFAZ) amounted to about 28,31 billion manat in 2013, compared to over 26,89 billion manat in 2012, the company’s official report said on June 4.
According to the report, some 27,09 billion manat from the overall assets accounted for current assets, while about 1,22 billion - for long-term assets. As stated in the report, SOFAZ received 13,6 billion manat (against the approved 11,48 billion manat in the fund’s budget)………………………………………..Full Article: Source

Posted on 05 June 2014 by VRS |  Email |Print

AustralianSuper has appointed TIAA Henderson Real Estate (TH Real Estate) to manage its London office property investment strategy. TH Real Estate, which is 60% owned by TIAA-CREF and 40% by Henderson Global Investors, already manages AustralianSuper’s UK shopping centre portfolio.
The arrangement with TH Real Estate is similar to that AustralianSuper negotiated with QIC last year over its US property investments. Rather than provide the fund manager with a lump sum to invest as it will, there is no set investment, and AustralianSuper will be more involved in investment decisions………………………………………..Full Article: Source

Posted on 05 June 2014 by VRS |  Email |Print

1Malaysia Development Bhd (1MDB) says its debt does not pose any significant risk to Malaysia’s sovereign rating and stability. As a limited liability company, it poses limited risk to the government as a shareholder, 1MDB added.
“The government guarantees RM5.8 billion (S$2.25 billion) of the group’s total loan, of which 1MDB has significant interest cover,” the sovereign wealth fund said on Tuesday, adding that it has never missed any scheduled payment………………………………………..Full Article: Source

Posted on 05 June 2014 by VRS |  Email |Print

Malaysian state investor Khazanah Nasional Bhd plans to sell up to US$750 million (RM2.4 billion) worth of US dollar-denominated bonds, exchangeable into shares, to raise funds for general corporate purposes.
Khazanah will sell US$500 million (RM1.6 billion) of bonds maturing in five years and an additional US$250 million (RM809 million) worth in the event of exceptional demand, the fund said in a term sheet seen by Reuters on Wednesday………………………………………..Full Article: Source

Posted on 05 June 2014 by VRS |  Email |Print

Bahrain Mumtalakat Holding Company (Mumtalakat), the investment arm of the Kingdom of Bahrain, today announced its full year financial results for 2013.
The results reflect the solid financial and operational performance across the Mumtalakat group, constituting of 38 portfolio companies, (Group) and demonstrate significant progress in the implementation of strategic initiatives undertaken in 2012………………………………………..Full Article: Source

Posted on 05 June 2014 by VRS |  Email |Print

Bahraini sovereign fund Mumtalakat swung back into profit in 2013 because of an improved performance at Gulf Air and lower impairment losses, it said on Wednesday.
The fund, fully owned by the Bahraini state but run on a commercial basis, made a net profit of BD82.7 million ($219 million) in 2013 compared with a net loss of BD181.7 million in the previous year, a statement to Reuters said………………………………………..Full Article: Source

Posted on 05 June 2014 by VRS |  Email |Print

Bahrain’s Mumtalakat will remain profitable from now on, its chief executive told Reuters on Wednesday, as the sovereign fund ended five straight years of losses in 2013 due to improved performance at Gulf Air and lower impairments.
The fund, fully owned by the Bahraini state but run on a commercial basis, made a net profit of KD82.7 million ($219 million) in 2013 compared with a net loss of KD181.7 million in the previous year, a statement said………………………………………..Full Article: Source

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