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Sovereign Wealth Funds Briefing 06.Feb 2012

Posted on 06 February 2012 by VRS |  Email |Print

The domestic investment arm of China’s sovereign-wealth fund said Friday it will allow three major Chinese lenders in which it owns stakes to cut their dividend ratios by 5 percentage points to 35% in 2011.

Central Huijin Investment Ltd., a wholly owned unit of China Investment Corp., said on its website the move is intended to raise the banks’ capacity to grow using their own profits……………………………………….Full Article: Source

Posted on 06 February 2012 by VRS |  Email |Print

Lou JiweiEurope, with its chronic debt problems and sluggish growth, is fast becoming the sick man of the world economy. And the latest prescription to cure its ailments comes from one of its former patients - China. Lou Jiwei, as chairman and chief investment officer of the China Investment Corporation, manages the $400 billion mountain of money that is the country’s main sovereign wealth fund.

Lou recently offered his diagnosis and cure for the eurozone’s illness in an article that he penned for the Caijing magazine, an influential Chinese-language financial publication……………………………………….Full Article: Source

Posted on 06 February 2012 by VRS |  Email |Print

Earlier this week, Chinese construction equipment giant Sany Heavy Industry agreed to acquire German family-owned engineering firm Putzmeister for an undisclosed sum. That came hot on the heels of China Investment Corp, the country’s $400-billion sovereign wealth fund set up in 2007 to invest some of China’s huge foreign exchange stockpile, buying a stake in British utility Thames Water.

China Three Gorges in December beat competitors to a 21.35 percent stake in Energias de Portugal, paying 2.7 billion euros as Portugal sold assets to bolster state coffers……………………………………….Full Article: Source

Posted on 06 February 2012 by VRS |  Email |Print

European assets are on the list of investments liked by advisers to Australia’s Future Fund, the country’s quasi-sovereign wealth fund with $73.1 billion under management, according to its chairman David Murray.

“Quite clearly they see significant changes in Europe that will throw up good assets for the private sector and institutional investors,” Mr Murray said. “That’s probably a good thing because the assets will get funded and the new owners will build some productivity into them.”………………………………………Full Article: Source

Posted on 06 February 2012 by VRS |  Email |Print

Kazakhstan’s sovereign wealth fund Samruk-Kazyna is in talks to acquire a 49 percent stake held in Air Astana by BAE Systems Plc, Europe’s largest defense group, before a possible initial public offering next year.

“We need to buy BAE Systems’ stake in Air Astana to sell between 10 percent and 15 percent” to Kazakh citizens, which is why there is no final decision on the IPO yet, Air Astana Chairman Nurzhan Baidauletov, who is also a managing director at Samruk-Kazyna, told reporters in Almaty today. The fund, which owns 51 percent in the airline, doesn’t want to reduce its stake, he said……………………………………….Full Article: Source

Posted on 06 February 2012 by VRS |  Email |Print

Kazakhstan is set to use its windfall oil revenues to help state oil and gas company Kazmunaigas fund projects worth a total of $4 billion, the country’s sovereign wealth fund Samruk-Kazyna said on Friday.

“In the past month, the fund has worked out proposals on funding Kazmunaigas (projects) with a bond issue from the National Fund worth $4 billion and with maturity until 2015,” Samruk-Kazyna head Umirzak Shukeyev told a news conference……………………………………….Full Article: Source

Posted on 06 February 2012 by VRS |  Email |Print

Kazakhstan’s sovereign wellbeing fund Samruk-Kazyna increased profit 13 percent last year, not including the banks in which it holds stakes.

Net income rose to 594 billion tenge ($4 billion) from 526 billion tenge in 2010, the fund said in a statement distributed today to reporters in the capital, Astana……………………………………….Full Article: Source

Posted on 06 February 2012 by VRS |  Email |Print

International Petroleum Investment Co., Abu Dhabi’s sovereign wealth fund that owns Spanish oil company Cepsa, is available to supply the oil to the European country if there is an embargo on Iran, Expansion reported citing unidentified people familiar with the matter.

IPIC Managing Director Khadem Al Qubaisi made the offer during a meeting this week with Spanish government officials, according to Expansion. Iran supplies about 11 percent of Spain’s oil, Expansion said……………………………………….Full Article: Source

Posted on 06 February 2012 by VRS |  Email |Print

Japan is expected to increase oil imports from the Gulf States, Kuwait China Investment Company (KCIC) said Sunday. “As long as the nuclear reactors remain shut and there is no alternative source of energy in the short-run, energy imports are forecasted to rise further,” KCIC said in its weekly analysis.
Key shareholders of KCIC include the Kuwait Investment Authority, the Sovereign Wealth Fund of Kuwait, National Investment Company, one of the leading investment banks in the Middle East, and Al Ghanim Industries, one of the largest conglomerates in the Middle East……………………………………….Full Article: Source

Posted on 06 February 2012 by VRS |  Email |Print

India’s foreign exchange reserves increased by $673.4 million to $293.93 billion for the week ended Jan 27, Reserve Bank of India data showed. The forex reserves have risen for the second week after six straight weeks of decline.

They had increased by $731.8 million for the week ended Jan 20 after slumping by $14.25 billion in the previous six weeks. A strong rally in the Indian equities markets and rebound in the value of rupee on the back of huge inflow of funds from overseas investors have helped in increase in the foreign exchange reserves……………………………………….Full Article: Source

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