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Sovereign Wealth Funds Briefing 05.Jun 2012

Posted on 05 June 2012 by VRS |  Email |Print

Vladimir PutinA multibillion-dollar investment fund set up by Russia and China is expected to make its first investment, into a Russian forestry company, as economic ties between the neighbouring countries grow closer.
Plans for the fund - a venture between sovereign wealth fund China Investment Corp and the state-backed Russian Direct Investment Fund - were announced in October………………………………………..Full Article: Source

Posted on 05 June 2012 by VRS |  Email |Print

China Development Bank Corp. plans to sell 10 billion yuan (1.58 billion dollar) to CNY20 billion worth of bonds soon via a private placement, two people familiar with the situation said.
The bank, China’s biggest bond issuer after the Ministry of Finance, is owned by the ministry, Central Huijin Investment Ltd., a domestic investment arm of China’s sovereign wealth fund, and China’s national pension fund………………………………………..Full Article: Source

Posted on 05 June 2012 by VRS |  Email |Print

The Government of Singapore Investment Corporation (GIC) has bought a stake in a South African grocery store chain. The Spar Group, which is listed on the Johannesburg Stock Exchange, announced last Friday that GIC had ‘acquired a beneficial interest in Spar securities’.
As a result, GIC now holds a 5.18 per cent stake in the firm. It did not disclose how much GIC paid for the shares……………………………………….Full Article: Source

Posted on 05 June 2012 by VRS |  Email |Print

Khazanah Nasional Bhd plans to sell its entire interest in wholly-owned subsidiary STLR Sdn Bhd via an open tender to a qualified bumiputra entrepreneur.
Khazanah said in a statement the proposed divestment of STLR, a property investment holding company, was part of its efforts to assist the Government in encouraging entrepreneurship and growing bumiputra equity………………………………………..Full Article: Source

Posted on 05 June 2012 by VRS |  Email |Print

The move to have an ad hoc committee to probe the Sovereign Wealth Fund (SWF) management was scuttled. Instead, an amendment was moved to have the House Joint Committees on Finance, Commerce and Industry and Banking and Currency to conduct a public hearing on the SWF management with a view to guaranteeing the correct usage of the fund and report back to the House within four weeks.
The tone of the motion which sailed through at the plenary was designed to ensure that lodgement of the proceeds from the SWF was domiciled in any of the viable commercial banks operating in the country………………………………………..Full Article: Source

Posted on 05 June 2012 by VRS |  Email |Print

France’s strategic investment fund (FSI) has targeted five areas the country’s ICT sector should develop. The sovereign fund lists electronic components, especially for very fast networks and smartphones; cloud computing, now being adopted by SMEs etc
FSI has invested in 14 internet companies since 2009, including video portal Dailymotion, Sim card maker Gemalto, LTE network testing specialist Ercom, NFC company Inside Secure and optoelectronic components maker 3S Photonics………………………………………..Full Article: Source

Posted on 05 June 2012 by VRS |  Email |Print

The Norwegian government has urged pension funds to finance the country’s oil and gas industries, noting that banks have failed to get the job done.
The Guarantee Institute for Export Credits (GIEK) — a Norwegian government agency with the purpose of granting guarantees for the country’s export companies — told Reuters that it is encouraging pensions for investment in the offshore oil and gas export sector due to the strains the Eurozone debt crisis and tighter financial regulation have placed on banks………………………………………..Full Article: Source

Posted on 05 June 2012 by VRS |  Email |Print

Investors have lost their appetite for IPOs. Banks are unwilling to lend. But for some sovereign wealth funds, there is hardly a crisis at all.
The Qatar Investment Authority recently bought significant stakes in high-profile companies such as Shell and Tiffany’s and is eyeing a 10 per cent stake in mining company Xstrata………………………………………..Full Article: Source

Posted on 05 June 2012 by VRS |  Email |Print

The Permanent Fund Dividend (PFD) is cursed with interesting times. The relationship between Alaska’s oil exports and the size of the dividend is complicated. Four important factors that affect its size are facing increased uncertainty and possibly moving in different directions.
The PFD is financed not by current oil revenue, but by past oil revenues that have been saved and invested in the Alaska Permanent Fund (APF)………………………………………..Full Article: Source

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