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Sovereign Wealth Funds Briefing 24.Nov 2011

Posted on 24 November 2011 by VRS |  Email |Print

Namo Narain MeenaIndia is considering the issues pertaining to setting up a sovereign wealth fund to procure energy assets in overseas markets, Namo Narain Meena, a junior finance minister told lawmakers.
“The issues regarding the establishment of a sovereign wealth fund are under discussion,” the minister said in a written reply to the upper house of parliament, adding no final decision had been taken yet. He was replying to a query whether the government had decided to set up a $10 billion sovereign wealth fund to acquire energy assets abroad………………………………………..Full Article: Source

Posted on 24 November 2011 by VRS |  Email |Print

The PNG Sovereign Wealth Fund will be managed locally with its investments done overseas. This was discussed during the first PNG Sovereign Wealth Fund (PNG SWF) regional forum held in Kokopo this week with participants representing different organisations and stakeholders within the NGI region and government departments sharing their views on how the fund would help in the economic growth of the country.
Former Prime Minister and Kokopo MP Sir Rabbie Namaliu officially opened the one day forum and thanked the participants for attending such an important consultation meeting which was set to be hosted throughout the other regions of the country………………………………………..Full Article: Source

Posted on 24 November 2011 by VRS |  Email |Print

President Nicolas Sarkozy congratulated the sovereign wealth fund on its achievements since its creation in 2008: a total of Euro 5.9bn invested in French companies, small and large.
He also announced the establishing of 3 successor funds focused on 3 sectors: aeronautics (Aerofund 2), healthcare (InnoBio MedTech) and nuclear energy. The event was relatively discrete, and observers noted that the President was obliged to make some new announcements on the subject of the financing of French small and medium sized companies (SMEs), an area he champions closely………………………………………..Full Article: Source

Posted on 24 November 2011 by VRS |  Email |Print

CITIC Capital, the Hong Kong-based fund manager part-owned by China’s sovereign wealth fund, has confirmed the Townsend Group as a cornerstone investor for the $225m (€170m) first closing of its China Retail Properties Investment Fund.
In an email, Stanley Ching, head of CITIC Capital’s retail group, said: “It was very important [to have a cornerstone investor], particularly one representing many pension funds’ interests………………………………………..Full Article: Source

Posted on 24 November 2011 by VRS |  Email |Print

Chinese banks are “extremely fragile” because the lenders don’t have enough capital to offset bad loans, said Jim Chanos, president and founder of the $6 billion hedge fund Kynikos Associates Ltd.
State-run Central Huijin Investment Ltd., an arm of China’s sovereign wealth fund, said on Oct. 10 that it started buying stock in the four biggest Chinese lenders after their shares tumbled this year………………………………………..Full Article: Source

Posted on 24 November 2011 by VRS |  Email |Print

Malaysia’s Pavilion Real Estate Investment Trust, partly owned by the Qatar Investment Authority, said it has priced the institutional portion of its 710 million ringgit ($223.5 million) initial public offering at 90 Malaysian sen each.
The offering is at least 25 times oversubscribed, two sources with direct knowledge of the deal told Reuters on Wednesday. The retail portion of the offer was priced at 88 sen each, Pavilion said in a statement, but did not give subscription details………………………………………..Full Article: Source

Posted on 24 November 2011 by VRS |  Email |Print

Sovereign wealth fund is a pool of money derived from a country’s reserves, which is set aside for investment purposes that will benefit the country ‘s economy and citizens . The funding for a sovereign wealth fund SWF comes from the central bank reserves that accumulate as a result of budget and trade surpluses , and even from revenue generation from export of natural resources.
Today the sovereign wealth funds are avenue for nation that operate them to attract investment into their countries………………………………………..Full Article: Source

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