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Sovereign Wealth Funds Briefing 10.Nov 2011

Posted on 10 November 2011 by VRS |  Email |Print

Abu Dhabi Investment Corporation, touted as the world’s largest Sovereign Wealth Fund (SWF) with a corpus of $1500 billion, was in deep trouble when its bailout funds for the beleaguered CitiBank at the height of US financial troubles in 2008 all but evaporated.
This was on account of the conversion price per share of $31 or thereabouts, when the going rate at the time of conversion had nosedived to less than $5………………………………………..Full Article: Source

Posted on 10 November 2011 by VRS |  Email |Print

The energy crisis in India has hardly escaped anybody’s attention in recent times. In the race to be an economic super power, it will not be an exaggeration to state that the country that expects to grow by leaps and bounds has to be extremely secure in terms of its energy requirements.
The Government of India, while understanding the need, seems to be clueless about the way to ensure the same. A glaring example of this is the idea of setting up a sovereign wealth fund (SWF) with the aim of acquiring mineral and energy assets abroad………………………………………..Full Article: Source

Posted on 10 November 2011 by VRS |  Email |Print

Australia’s Treasury chief has urged caution on the increasingly popular concept of a national sovereign wealth fund, questioning whether it would be the best way to achieve its mooted aims.
Martin Parkinson, the secretary to the Treasury, said that although there were ”well-motivated intentions” in the growing calls for Australia to follow countries such as Chile and Norway by channelling mining wealth into a sovereign fund, more clarity was needed on the exact aim of such a fund………………………………………..Full Article: Source

Posted on 10 November 2011 by VRS |  Email |Print

President Goodluck Jonathan has secured the green light for the controversial Sovereign Wealth Fund (SWF), despite the huge opposition from governors and other stakeholders.
After getting the all-clear legal advice from Attorney-General Mohammad Bello Adoke, Dr Goodluck Jonathan will soon meet governors on the grey areas in the SWF………………………………………..Full Article: Source

Posted on 10 November 2011 by VRS |  Email |Print

GP Bullhound, the technology investment bank, announces the completion of the sale of the majority of Gimv’s stake in Tinubu Square to the French sovereign wealth fund, Fonds Stratégique d’Investissement (FSI). The Company is a recognised leader in providing SaaS credit risk management solutions to both financial institutions and large corporate clients.
With revenues of more than €13 million in 2011E and offices in France, the UK and Singapore, Tinubu Square is the market leader in France and has a growing presence outside of its domestic market. As part of the transaction, the FSI also invested primary capital to allow the Company to continue with its rapid global expansion………………………………………..Full Article: Source

Posted on 10 November 2011 by VRS |  Email |Print

A report from PwC suggests that the analysis of 51 national economies highlights the potential for a new source of interest in alternative resources and the significance of lithium within this focus. Yael Selfin, head of macro-consulting and a director in PwC’s economics team, indicated the potential for sovereign wealth funds to increase exposure to the lithium industry:
“We are likely to see further increases in non-commodity funds such as those financed by trade or fiscal surpluses and changes in the types of commodities that finance Sovereign Wealth Funds………………………………………..Full Article: Source

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