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Sovereign Wealth Funds Briefing 13.Feb 2012

Posted on 13 February 2012 by VRS |  Email |Print

Norway’s sovereign wealth fund has increased its stake in Volvo AB to about 3 percent, making it the fifth-biggest investor in the Swedish truckmaker, newspaper Dagens Industri reported, without saying how it obtained the information.
The oil fund now owns Volvo shares valued at about 5.6 billion kronor ($840 million) after buying stock for about 400 million kronor in December, the Stockholm-based newspaper said………………………………………..Full Article: Source

Posted on 13 February 2012 by VRS |  Email |Print

Caisse de depot et placement du Quebec and Government of Singapore Investment Corp. are in pole position to jointly acquire highly rated European buyout firm Axa Private Equity, according to three people with knowledge of the situation. All firms declined to comment or did not comment in time for publication.
Others in the running for Axa had included Canadian asset manager Onex and U.S. buyout firm Kohlberg Kravis Roberts. Both entered first-round bids for the French buyout firm in October but later dropped out………………………………………..Full Article: Source

Posted on 13 February 2012 by VRS |  Email |Print

China’s US$410-billion sovereign wealth fund has received a US$50 billion capital injection from the central bank, state media said Friday, as the Asian powerhouse ramps up investment overseas.
China Investment Corporation (CIC) was set up in 2007 to invest some of the country’s world-beating foreign exchange reserves to get better returns. The sovereign wealth fund received the money from the People’s Bank of China after the Lunar New Year holiday in January, financial news website Caixin said, citing unidentified sources………………………………………..Full Article: Source

Posted on 13 February 2012 by VRS |  Email |Print

The Chinese central bank has injected US$50 billion into the country’s sovereign wealth fund, which is currently worth US$410 billion.
With China still pushing its investments into overseas businesses the sovereign wealth fund received its top up just after the Lunar New Year holiday in January………………………………………..Full Article: Source

Posted on 13 February 2012 by VRS |  Email |Print

Sovereign wealth fund China Investment Corp (CIC) is considering investing $150 million in Canadian oil explorer Sunshine Oilsands Ltd’s initial public offering in Hong Kong, said two people with knowledge of the matter.
China Petroleum & Chemical Corp, or Sinopec Corp, is also considering buying about $150 million of the shares offered in the IPO, said the people, who declined to be identified. Sunshine Oilsands, based in Calgary, plans to sell about $350 million in stock to so-called cornerstone investors, the people said………………………………………..Full Article: Source

Posted on 13 February 2012 by VRS |  Email |Print

What concerns me is this drive to ask Khazanah Nasional to divest its stake in non-core businesses to Bumi firms. I thought Khazanah was the sovereign wealth fund of the NATION. And I thought that meant that Khazanah is the custodian of wealth belonging to ALL Malaysians.
If that is the case, then Khazanah Nasional should be divesting its non-core businesses to qualified Malaysian businesses. I understand that this being the election year, there is a need to placate powerful Malay business interests but please don’t use funds or hijack the interests of all Malaysians for narrow political gains………………………………………..Full Article: Source

Posted on 13 February 2012 by VRS |  Email |Print

Knut Kjaer, former head of the Norwegian sovereign wealth fund – the largest in Europe – now adviser to some of the world’s largest institutions, said the same should be done with the pension scheme boards to prevent them yielding to the temptations of short-termism.
His views that funds should lay out a long-term strategic plan and stick to it come in the same month that eminent British economist John Kay is due to deliver his interim report on how short-termism in UK equity markets could be impacting British industry………………………………………..Full Article: Source

Posted on 13 February 2012 by VRS |  Email |Print

In 2011, 52.68 percent of the total investment portfolio of the State Oil Fund of Azerbaijan (SOFAZ) is concentrated in dollars (about $15.61 billion), SOFAZ told Trend on Saturday. The total amount of SOFAZ’s investment portfolio in 2011 amounted to about $29.63 billion, which comprises 99.43 percent of total assets.
Some 41.66 percent of SOFAZ’s portfolio is concentrated in euros (about 9.54 billion euros), 5.65 percent — in British pound sterling (about 1.09 billion pounds sterling)………………………………………..Full Article: Source

Posted on 13 February 2012 by VRS |  Email |Print

The Kazakh government made some new appointments in the Kazakh National Welfare Fund Samruk-Kazyna, the fund reported on Friday.
According to the government’s decision, Kazakh Minister of Economic Development and Trade Bakytzhan Sagintayev was elected to the Board of Directors of Samruk-Kazyna………………………………………..Full Article: Source

Posted on 13 February 2012 by VRS |  Email |Print

The Abu Dhabi-based group is a subsidiary of the $45 billion sovereign wealth fund, Mubadala Development Co., which was formed in 2002 to diversify the oil-rich emirate’s economy.
Mubadala Aerospace is to promote the burgeoning status of the United Arab Emirate’s capital as a global aviation hub and to build on major business wins in Asia over the last 12 months………………………………………..Full Article: Source

Posted on 13 February 2012 by VRS |  Email |Print

A new study commissioned by the Mining Industry Association of Southern Africa on nationalisation backs the creation of a sovereign wealth fund for windfall profits, a notion also endorsed by the African National Congress’s (ANC’s) research document on state participation in the sector.
However, the study, which is not formally being endorsed by the association, differs in many ways from the ANC document. The study, released yesterday on the fringe of the Mining Indaba, warned that direct state involvement in the mining industry was fraught with dangers………………………………………..Full Article: Source

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