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Sovereign Wealth Funds Briefing 12.Aug 2014

Posted on 12 August 2014 by VRS |  Email |Print

China’s $653 billion (£388.94 billion) sovereign wealth fund, China Investment Corp (CIC), is in talks to buy Dublin-based aircraft leasing firm Avolon for $4 billion to $5 billion including debt, according to people familiar with the matter.
CIC is teamed up with Aviation Industry Corporation of China (AVIC), a state-owned aerospace and defence company, in its bid for Avolon, which provides aircraft leasing and lease management services to airlines and aircraft investors, one of the people said……………………………………Full Article: Source

Posted on 12 August 2014 by VRS |  Email |Print

China Investment Corp. (CIC), the country’s sovereign wealth fund, reported a 9.33 percent return on its overseas investments in 2013. The figure, reported on August 8, is slightly lower than the previous year’s 10.6 percent.
The cumulative annualized rate of return for the overseas portfolio since it was established in 2007 is 5.7 percent, compared with 5.02 percent in 2012. Ding Xuedong, CIC’s chairman and CEO, said the figure would be higher than 6 percent if investments in the first half of this year were counted……………………………………Full Article: Source

Posted on 12 August 2014 by VRS |  Email |Print

1MALAYSIA Development Bhd’s (1MDB) plans to float its energy unit, 1MDB Power, in the second half of this year may be postponed to early 2015 as the sovereign wealth fund has to make adjustments to its financial books, analysts said.
They said the initial public offering (IPO), targeted to raise US$3 billion (RM9.6 billion), has been put on hold while 1MDB clears some issues with Maybank Invesment Bank Bhd (MIBB), one of its listing advisers. 1MDB officials have declined to comment on the matter. At US$3 billion, the planned IPO was set to become Malaysia’s second-largest public offer after Felda Global Ventures Holdings Bhd’s RM10 billion IPO in June 2012……………………………………Full Article: Source

Posted on 12 August 2014 by VRS |  Email |Print

Angola’s sovereign wealth fund, the Fundo Soberano de Angola (FSDEA), has become a member of the International Forum of Sovereign Wealth Funds (IFSWF), the international body for sovereign investors, which relocated from Washington, DC, to London last month.
The FSDEA has endorsed the IFSWF’s voluntary code of conduct, the Santiago Principles, the forum said. FSDEA was established in 2012 with a seed capital of $5 billion, and a mandate to invest Angolan surplus revenues from hydrocarbons “to promote growth, prosperity and social and economic development across Angola”……………………………………Full Article: Source

Posted on 12 August 2014 by VRS |  Email |Print

Norway’s sovereign wealth fund, the world’s largest, bought a stake in an estate in London’s Mayfair district for 343 million pounds ($576 million), expanding its property holdings in the U.K. capital.
The fund bought a 57.8 percent share in the 4-acre (1.6-hectare) Pollen Estate between Regent Street and Bond Street from the Church Commissioners for England, Oslo-based Norges Bank Investment Management said today. Separately, the Crown Estate acquired a 6.4 percent stake for 38 million pounds……………………………………Full Article: Source

Posted on 12 August 2014 by VRS |  Email |Print

The State Oil Fund of Azerbaijan (SOFAZ) received support of its assets’ cost from MSCI Inc., international analytical company. According to Russian sources, decision of MSCI Inc. to keep shares of Sberbank and VTB Bank during calculation of MSCI Russia stock index resulted in an increase of prices for shares of both banks.
Thus, today in trading at Moscow’s exchange Sberbank’s shares rose in price by 3.49% (up to 73.17 rubles for a share) and VTB shares – by 4.29% (up to 3.9 kopeck for a share)……………………………………Full Article: Source

Posted on 12 August 2014 by VRS |  Email |Print

Alaska Permanent Fund Corp., Juneau, ended the fiscal year above $50 billion for the first time with a preliminary return of 15.5% for fiscal 2014, vs. 15.7% for its composite benchmark. The sovereign wealth fund reported $51.2 billion in total assets for the fiscal year that ended June 30, up $6.3 billion over the closing value for the prior fiscal year.
Returns for the $21 billion equity portfolios drove performance. The U.S. equity portfolio had the highest return at 27%, global equities returned 25% and the non-U.S. equity portfolio returned 20.2%……………………………………Full Article: Source

Posted on 12 August 2014 by VRS |  Email |Print

The world’s sovereign wealth funds (SWFs) are allocating the highest volume of assets via direct deals and co-investing since the global financial crisis, research showed, as the mega-rich institutional investors increasingly bypassed fund managers.
A report from the SWF Institute showed that direct deals and transactions by SWFs topped US$50.02 billion in value during the first half of 2014, or 23.1% higher than the equivalent period a year earlier. This was the highest first half on record since the first six months of 2008, which yielded $51.05 billion worth of direct investment, much of which was attributable to banking bailouts, the SWF Institute said……………………………………Full Article: Source

Posted on 12 August 2014 by VRS |  Email |Print

Several foreign sovereign funds have voiced an interest in investing in Mega Financial Holding Co, attracted by the state-run conglomerate’s stable profitability, company chairman Mckinney Tsai said.
Sovereign funds from Canada, Singapore, Norway, Malaysia and Abu Dhabi have all expressed an interest, with some having paid three visits, Tsai said. That would give the bank-focused group the necessary capital to acquire peers at home and abroad, in line with its aim to grow into a regional player, Tsai said……………………………………Full Article: Source

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