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Sovereign Wealth Funds Briefing 22.Nov 2011

Posted on 22 November 2011 by VRS |  Email |Print

Yngve SlyngstadNorway’s sovereign wealth fund, which manages the country’s oil revenues, will over time reduce its bond portfolio and is currently focused on investing in equity, Chief Executive Yngve Slyngstad said on Monday.
The fund also has a more positive view on what the current economic crisis in Europe could lead to long-term. “Change generally have huge possibility to lead to good things,” Slyngstad told reporters………………………………………..Full Article: Source

Posted on 22 November 2011 by VRS |  Email |Print

As chief of Norway’s huge sovereign wealth fund, fueled by oil revenues, Yngve Slyngstad is one of the most powerful financial players in the world. He spent an hour with foreign correspondents in Oslo on Monday and said his most important message was that from a long-term perspective, there’s “less reason for concern” than what might be expected given current crises.
There’s certainly less reason for concern in the long term than the short term, he noted, calling the crises the world is going through now “the growing pains of globalization.” They’re part of fundamental changes in markets and policies that Slyngstad thinks will be good in the long run………………………………………..Full Article: Source

Posted on 22 November 2011 by VRS |  Email |Print

The euro zone has yet to offer enough clarity on how the rescue mechanism it set up to manage its debt crisis will function, the head of Norway’s $537 billion wealth fund, Europe’s biggest equity investor, said on Monday.
The European Financial Stability Facility (EFSF) is meant to attract investment from nations like oil producer Norway to bolster the fund’s capacity to support the euro zone’s troubled sovereign debtors. But so far potential contributors have hung back, saying the plan so far is too vague. ……………………………………….Full Article: Source

Posted on 22 November 2011 by VRS |  Email |Print

New Hope Group Co Ltd , China’s biggest animal feed producer, plans to set up a $200 million overseas fund that counts Singapore’s sovereign wealth fund Temasek among its key investors, a senior executive said on Monday.
New Hope Vice President Wang Hang said the fund would mainly invest in businesses related to food security, food safety and farm technology. He said New Hope would be a key investor in the fund………………………………………..Full Article: Source

Posted on 22 November 2011 by VRS |  Email |Print

Temasek Holdings Pte. bought 3.77 billion shares of China Construction Bank Corp. on Nov. 11, increasing its stake in the second-largest Chinese lender by market capitalization.
Temasek’s stake in the bank rose to 9.42 percent from 7.86 percent before the transaction, in which Singapore’s state-owned investment company paid as much as HK$4.93 per share, according to a disclosure filing to the Hong Kong stock exchange today that didn’t give the total or per-share price………………………………………..Full Article: Source

Posted on 22 November 2011 by VRS |  Email |Print

Let me state right away that I am not in favour of the establishment of the so-called Sovereign Wealth Fund (SWF). Yet, I believe in planning and saving for the future. My opposition to the SWF idea is based on certain worrisome issues surrounding the enactment of the law itself and the manner the fund is likely to be operated on our behalf by its foreign custodians.
Whatever be the much-vaunted economic benefits, I think there are geo-political and international power-play issues which our economic strategists appear to be over-looking………………………………………..Full Article: Source

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