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Sovereign Wealth Funds Briefing 04.Aug 2009

Posted on 04 August 2009 by VRS |  Email |Print

From Rgemonitor.com: A score of recent reports have put the total assets managed by sovereign wealth funds at around $3 trillion. That seems high to us – at least if the estimate is limited to sovereign wealth funds external assets.

We don’t know the real total of course. Key institutions do not disclose their size – or enough information to allow definitive estimates of their size. But our latest tally would put the combined external assets of the major sovereign wealth funds roughly $1.5 trillion (as of June 2009) – rather less than many other estimates……….Full Article: Source

Posted on 04 August 2009 by VRS |  Email |Print

From Mondaq.com: Given the credit crisis in the American economy, with paralysis in U.S. capital markets preventing domestic buyers from financing commercial real estate purchases in the ordinary course, American real estate sellers increasingly view sovereign wealth funds (SWFs) without a need to borrow as potential buyers.
These SWFs—entities established or controlled by a sovereign government and funded with foreign currency that is normally invested in overseas assets for the long-term—are flush with cash, mostly from the now-ended (or at least interrupted) era of high oil prices that resulted in an accumulation of wealth……….Full Article: Source

Posted on 04 August 2009 by VRS |  Email |Print

From Maktoob.com: Abu Dhabi state funds were the most active sovereign wealth fund for investors in the first quarter, spending $4.9 billion - or nearly 75 percent of the total spent by SWFs in the period, a survey showed Monday.

SWFs made 26 investments worth $6.8 billion in the first quarter, according to a report by consulting firm Monitor Group and research institute Fondazione Eni Enrico Mattei……….Full Article: Source

Posted on 04 August 2009 by VRS |  Email |Print

From Monitor.com: The number of sovereign wealth fund investment deals almost halved to 26 in the first quarter from the previous three months, with a total value of $6.8 billion — the lowest since the last quarter of 2005, a survey showed on Monday.

The survey by client advisory firm Monitor Group and research institute Fondazione Eni Enrico Mattei showed four state-owned funds from Abu Dhabi were the most active during the first quarter, accounting for 12 out of 26 deals, and making up almost three quarters of the total reported investment value……….Full Article: Source

Posted on 04 August 2009 by VRS |  Email |Print

From Nytimes.com: After a fallow quarter, sovereign wealth funds are once again looking to deals in western markets, The Financial Times reported.

The first quarter of this year saw the lowest number of foreign investments since 2005 but Stefan Kern, a Deutsche Bank economist, said the funds, while still cautious, could be expected to start to increase investments if equities sustain a recovery……….Full Article: Source

Posted on 04 August 2009 by VRS |  Email |Print

From Petroleum-economist.com: With over $2 trillion in foreign reserves and a sovereign wealth fund worth an estimated $200bn, China has extended loans designed to boost its access to reserves and taken advantage of lower share prices to make numerous equity acquisitions in oil and gas projects.
Its expanding state-owned energy companies are also prepared to bid for outright ownership of foreign firms……….Full Article: Source

Posted on 04 August 2009 by VRS |  Email |Print

From Investordaily.com.au: Government superannuation fund GESB has reported a boost in the take up of member advice on the back of a targeted marketing campaign.

The number of sales leads to GESB’s financial planning business was double the target referral rate……….Full Article: Source

Posted on 04 August 2009 by VRS |  Email |Print

From Itar-Tass: Russia’s Reserve Fund stood at 2.811.034 billion roubles and the National Welfare Fund at 2.858.070 billion roubles as of August 1, 2009.

As of July 1, the Reserve Fund was 2,958 billion roubles, or 94.52 billion U.S. dollars. The National Welfare Fund was 2,813,094,000 roubles or 89,93 billion U.S. dollars……….Full Article: Source

Posted on 04 August 2009 by VRS |  Email |Print

From Bloomberg: South Africa’s gold and foreign currency reserves probably rose in July as the rand strengthened to an 11-month high, making it cheaper for the central bank to buy dollars.

Gross reserves increased to $36.1 billion from $35.8 billion in June, according to the median estimate of four economists surveyed by Bloomberg. The Pretoria-based central bank will publish the data on its Web site at 8 a.m. on Aug. 7……….Full Article: Source

Posted on 04 August 2009 by VRS |  Email |Print

From Bloomberg: Kenya’s foreign exchange reserves declined to $3.11 billion at the end of July from $3.29 billion a year earlier, the Central Bank of Kenya said.

The drop cut the central bank’s reserves to the equivalent of 3.53 months of import cover from 4.57 months of imports a year earlier, the Nairobi-based bank said in an e-mailed report, dated July 31……….Full Article: Source

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