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Sovereign Wealth Funds Briefing 18.Apr 2012

Posted on 18 April 2012 by VRS |  Email |Print

Ajay BhattacharyaFertiliser ministry has sent a proposal to finance ministry for creating a sovereign wealth fund. This fund will help the government as well as private companies in the acquisition of mineral assets abroad.
“We have sent a proposal to finance ministry for setting up this fund. The ’size’ of the fund will be decided by the finance ministry,” said fertiliser secretary Ajay Bhattacharya. The fertiliser industry has been lobbying for a sovereign fund to support acquisition of assets overseas to bring down dependence on import………………………………………..Full Article: Source

Posted on 18 April 2012 by VRS |  Email |Print

Prime Minister Wen JiabaoThe Singaporean government’s sovereign wealth fund, Temasek Holdings, has purchased a $2.3 billion stake in the Industrial and Commercial Bank of China, buying 3.55 billion Hong Kong-listed shares from Goldman Sachs.
ICBC was the world’s most profitable lender last month, after it reported a 17% increase in fourth-quarter income over a year earlier. The purchase signals Temasek’s increasing confidence that China’s state-owned banks, which continue to enjoy a monopoly, are an attractive investment………………………………………..Full Article: Source

Posted on 18 April 2012 by VRS |  Email |Print

The Singapore Government’s investment arm Temasek Holdings is likely to extend its investment footprint in Malaysia through the design and manufacture of medical devices.
The move is likely to be via Dornier MedTech, which is owned by Temasek’s subsidiary Accuron Technologies Ltd. Accuron’s investment presence in Malaysia is currently via SAM Engineering and Equipment (M) Bhd (SAM Malaysia) and Aviatron Malaysia Sdn Bhd………………………………………..Full Article: Source

Posted on 18 April 2012 by VRS |  Email |Print

The Government of Singapore Investment Corp (GIC) is preparing to buy up swathes of distressed properties in the United Kingdom with the launch of a £200 million (S$400 million) fund.
The sovereign wealth fund is joining hands with the UK-based Orchard Street Investment Management, which is led by Mr Chris Bartram. He said yesterday the fund plans to acquire 15 properties in the next two years across the retail, office and industrial sectors……………………………………….Full Article: Source

Posted on 18 April 2012 by VRS |  Email |Print

Sovereign wealth fund China Investment Corporation (CIC) has appointed Xiao Qing Bai as its next global head of real estate. In a departure from previous appointments to the role she will also continue in her previous role as head of private equity for North America.
PERE understands that, as a consequence of fulfilling the two roles concurrently, the day-to-day running of CIC’s real estate division is to fall to long-term CIC real estate executive Cai Zhi Wei. Bai is understood to report to global head of private equity, Ludwig He………………………………………..Full Article: Source

Posted on 18 April 2012 by VRS |  Email |Print

China Investment Corporation has had some recent shifts of its investment leadership in private equity and real estate. Xiaoqing Bai, who is in charge of North American private equity investments, has taken the reins over global real estate investments after the departure of Patrick Wu.
Wu took charge of real estate last year after former head Collin Lau took over the European private equity investment portfolio. However, Wu only lasted a few months before deciding to leave the institution………………………………………..Full Article: Source

Posted on 18 April 2012 by VRS |  Email |Print

Abu Dhabi-owned fund Invest AD is betting on its range of investment products to tap growth opportunities in fast-growing Africa, a continent which the state-owned investment firm believes is still undervalued for its potential.
“If you look at Africa, there are opportunities across the board and it’s not as well-defined as in some other more mature markets. So we want to build a suite of products that captures that growth,” Chief Investment Officer David Sanders said in an interview………………………………………..Full Article: Source

Posted on 18 April 2012 by VRS |  Email |Print

Niger State Governor and Chairman of the Northern Governors Forum (NGF), Dr. Mu’azu Babangida Aliyu has said that the state governors were not against the Sovereign Wealth Fund (SWF).
He said in Minna that the Governors had always nursed the fear over the proper implementation and management of the fund………………………………………..Full Article: Source

Posted on 18 April 2012 by VRS |  Email |Print

Qatar Holding, the investment arm of the Gulf state’s sovereign wealth fund, has acquired Smeralda Holding, the owner of luxury resorts on the Italian island of Sardinia, a newspaper reported Tuesday.
The Qatari fund has signed a “definitive” agreement for the purchase with Colony Capital, owned by the American property magnate Tom Barrack who acquired the resorts in 2003, the English-language Gulf Times reported………………………………………..Full Article: Source

Posted on 18 April 2012 by VRS |  Email |Print

The Russian Reserve Fund, which accumulates the country’s oil and gas revenues, may reach 1.863 trillion roubles (USD 1 = RUB 29.64) in the current year, Russian Finance Minister Anton Siluanov told the ministry’s enlarged board meeting on Tuesday.
In 2013, the Fund may accumulate 2.235 trillion roubles, he said, adding that the Fund may reach 2.826 trillion roubles in 2014………………………………………..Full Article: Source

Posted on 18 April 2012 by VRS |  Email |Print

BTA, Kazakhstan’s third-largest bank by assets, on Tuesday named Yerik Balapanov as the new chairman of its management board, to help steer the lender through a second debt restructuring.
The bank, majority owned by sovereign wealth fund Samruk-Kazyna, defaulted on a $2 billion 2018 Eurobond in January, only 18 months after a first round of restructuring cut its debt by two thirds………………………………………..Full Article: Source

Posted on 18 April 2012 by VRS |  Email |Print

Sovereign wealth funds, whose assets have now reached just under $5 trillion, are using their clout to make asset managers train the SWFs’ staff in a move that could, in time, put asset managers out of a job.
SWF’s assets under management reached $4.62 trillion at the end of last year, according to figures just published by data provider Preqin. The assets have risen in each of the last five years, according to Preqin’s figures, from $3.05 trillion at the end of 2007……………………………………….Full Article: Source

Posted on 18 April 2012 by VRS |  Email |Print

The world’s sovereign wealth funds now total a staggering $4.62 trillion, a 51% jump over 2008 and a dramatic reminder that these government-created investment vehicles remain a potent force in global capital flows.
The estimate is part of an annual review by London-based research company Preqin Ltd. According to Preqin estimates, the total value of sovereign wealth funds remained fairly static from 2008 to 2010 and then accelerated. At this time last year, Preqin figured, sovereign wealth funds totaled a bit less than $4 trillion………………………………………..Full Article: Source

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