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Sovereign Wealth Funds Briefing 02.Apr 2012

Posted on 02 April 2012 by VRS |  Email |Print

Sigbjoern JohnsenNorway’s $610 billion sovereign wealth fund, Europe’s biggest equity investor, plans to sharply reduce its European exposure while raising investments in emerging markets and Asia-Pacific, the finance ministry said on Friday.
Of its entire bond, fixed income and real estate portfolio, European investments will be “gradually” reduced to 41 percent from 54 percent, while Asia-Pacific’s share will rise to 19 percent from 11 percent, Finance Minister Sigbjoern Johnsen said………………………………………..Full Article: Source

Posted on 02 April 2012 by VRS |  Email |Print

Lou JiweiLou Jiwei, chairman of China’s sovereign wealth fund, was attending Party School in Beijing this week, and was forced to miss the big investment conference his organisation, China Investment Corp, hosted in the Shangri-La Hotel in Hong Kong on Monday.
Given the uncertainty in the wake of Bo Xilai’s abrupt dismissal from his post in Chongqing, this clearly was an inopportune moment to leave the capital. In his absence, the urbane Gao Xiqing chaired the proceedings………………………………………..Full Article: Source

Posted on 02 April 2012 by VRS |  Email |Print

Anyone hoping that a Chinese “wall of money” will solve all of Ireland’s economic problems is likely to be disappointed. Despite the agreement between the Chinese sovereign wealth fund CIC and the NTMA, our new friends from the east will drive a hard bargain before investing one red cent in this country.
One of the highlights of Taoiseach Enda Kenny’s trip to China was the signing of a memorandum of understanding between the CIC and the NTMA, which could see the Chinese sovereign wealth fund invest in Irish infrastructure and property assets………………………………………..Full Article: Source

Posted on 02 April 2012 by VRS |  Email |Print

Italian Prime Minister Mario Monti is urging China to invest more in his country. During his first China visit on Saturday, Monti met with Chinese Premier Wen Jiabao and Lou Jiwei, president of the China Investment Corporation, and told them that Italy’s economic reforms are well underway and that China should pump more money into the European country.
Monti has been implementing tough belt tightening measures to cut public deficit and boost business vitality………………………………………..Full Article: Source

Posted on 02 April 2012 by VRS |  Email |Print

Singaporean bank DBS has made the country’s sovereign wealth fund Temasek an offer for its US$3.2 billion (RM9.6 billion) majority stake in Indonesia’s Bank Danamon, sources said today, setting up Indonesia’s biggest bank takeover.
Danamon said today its biggest shareholder, controlled by Temasek, received an offer from an unnamed investor to sell the stake and asked for a share trading halt until April 2. Temasek’s Fullerton Financial Holdings also confirmed it had received an offer but did not identify the bidder………………………………………..Full Article: Source

Posted on 02 April 2012 by VRS |  Email |Print

DBS Group Holdings, Southeast Asia’s biggest bank, has agreed to pay $7.24 billion (4.53 billion pounds) for Indonesia’s Bank Danamon, offering a hefty 52 percent premium and raising questions among investors over whether it has overpaid.
But the price - S$6.2 billion ($4.93 billion) in shares and the rest in cash - surprised some investors. DBS is also buying most of Danamon from Singapore state investor Temasek Holdings, also a major shareholder in DBS………………………………………..Full Article: Source

Posted on 02 April 2012 by VRS |  Email |Print

The energy regulator CERA has handed to the President a 47-page report recommending the establishment of a state-run hydrocarbons corporation.
CERA was also said to be recommending the setting up of a sovereign fund for gas proceeds and suggests a law be passed stipulating that 5.0 per cent of revenues be allocated to the budget and 95 per cent held for development and investment. CERA estimates the cost of an LNG plant to around €10 billion………………………………………..Full Article: Source

Posted on 02 April 2012 by VRS |  Email |Print

Songbird Estates, the company that controls east London’s Canary Wharf, plans to build more homes in the financial district to take advantage of a “widely anticipated shortage” in the UK capital.
In April 2011, Qatar Holding, a subsidiary of the country’s sovereign wealth fund, acquired 28.5m ordinary shares in Songbird, raising its stake by 3.7 percent to 27.7 percent, according to a statement to the London bourse………………………………………..Full Article: Source

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