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Sovereign Wealth Funds Briefing 17.Jun 2014

Posted on 17 June 2014 by VRS |  Email |Print

Debate over PNG’s Sovereign Wealth Fund continues even though the first shipment of liquefied natural gas has been delivered to Japan. The purpose of the Fund is to control the spending of the considerable revenue generated by the PNG LNG project.
Disputes over the best fomat for the Fund and procedural mistakes when passing the establishing legislation in 2011 are the reasons the Fund has not been set up………………………………………..Full Article: Source

Posted on 17 June 2014 by VRS |  Email |Print

Times are changing for one of the world’s biggest sovereign wealth fund. The Qatar Investment Authority (QIA), the $175bn behemoth which invests money on behalf of the Qatari state, is expected to dampen its more ambitious dealmaking.
It will instead adopt an increasingly “conservative” approach, according to a research note published today by political strategists Geoeconomica. “It should be expected that the Qatari Government will be much less likely to use QIA’s capital to advance its network-based foreign policy approach, although the Government might want to consolidate its existing relationships rather than reverse them. But overall, the expectation is that QIA become a more conservative, less politically oriented and more strategic investment entity,” it said………………………………………..Full Article: Source

Posted on 17 June 2014 by VRS |  Email |Print

The biggest investor in Brazilian businessman Eike Batista’s holding company is still struggling to reduce its exposure to the troubled industrial group. Mubadala Development Co., Abu Dhabi’s sovereign-wealth fund, on Monday confirmed that it continues to negotiate ways to reduce debt that it is owed by the Brazilian businessman, a process that started last year.
“Discussions are continuing,” Brian Lott, the executive director of Group Communications at Mubadala, said in a telephone interview. “Mubadala continues to look for strategic assets and opportunities that align with our portfolio,” he added without providing further details………………………………………..Full Article: Source

Posted on 17 June 2014 by VRS |  Email |Print

The Qatar Investment Authority, Qatar’s main sovereign wealth fund, appears to be shunning the flashy deal-making of its past in favor of a more conservative approach, in line with a shift in the country’s foreign policy away from high-visibility regional diplomacy, according to a recent report by GeoEconomica, a Geneva-based political risk advisory firm.
Estimated to have about $175 billion under management, the QIA has long been one of the Middle East’s biggest and most aggressive investment pools………………………………………..Full Article: Source

Posted on 17 June 2014 by VRS |  Email |Print

Middle Eastern investors are expected to spend $180 billion on buying commercial property outside their own region over the next 10 years, according to new research from property advisor CBRE. A significant chunk of that investment – roughly $130-$140 billion – is expected to come from regional sovereign wealth funds, while investors, property companies and developers will account for the remaining amount, said CBRE.
Europe is the preferred target and is expected to receive 80 per cent of the $180 billion (around $145 billion) as it offers “diversification, cultural acceptance, high liquidity and market transparency,” said the report. While close to $85 billion will flow into the UK, $60 billion will be invested in continental Europe, with France, Germany, Italy and Spain among the key target markets………………………………………..Full Article: Source

Posted on 17 June 2014 by VRS |  Email |Print

The Gulf’s support for the Egyptian economy after the dismissal of former President Mohamed Morsi on July 3, 2013, has taken several forms including bank deposits into the Central Bank of Egypt, petroleum derivatives, long-term loans and non-refundable grants. Initially it was announced that the size of this support was $12 billion.
However, during his presidential campaign Al-Sisi told the media that this support reached more than $20 billion in just 10 months. This support rescued many economic indicators of Egypt, such as that seen in the stability of the foreign exchange reserves at $17.2 billion at the end of May 2014, and the relative maintenance of the price of the Egyptian pound from a dramatic collapse………………………………………..Full Article: Source

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