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Sovereign Wealth Funds Briefing 28.Jun 2012

Posted on 28 June 2012 by VRS |  Email |Print

Ivan GlasenbergGlencore executives are to meet with representatives of the Qatar sovereign wealth fund in London today as the $65bn (£42bn) mega-merger between the commodities giant and miner Xstrata hangs in the balance.
In a shock announcement last night, Qatar Holdings, Xstrata’s second-biggest shareholder with 10.4pc, said that, while it saw “merit in a combination of the two companies, it is seeking improved merger terms”………………………………………..Full Article: Source

Posted on 28 June 2012 by VRS |  Email |Print

Peter DaveyQatar’s unexpected role as kingmaker in the biggest proposed merger of the year is an outgrowth of its new strategy to shift assets of its $100 billion sovereign wealth fund into commodities including gold, copper and oil.
Once known for acquiring trophy investments like London’s Harrods department store, the tiny Persian Gulf kingdom started buying shares in mining company Xstrata (XTA) Plc in February, just after Glencore International Plc (GLEN) announced its bid for a $25 billion merger………………………………………..Full Article: Source

Posted on 28 June 2012 by VRS |  Email |Print

The Abu Dhabi Investment Authority ( ADIA) said in its 2011-review report published Monday that the fund has trust in the emerging markets’ long-term growth story, despite negative spillover-effects from Western economies.
“The distinction between the developed and emerging economies is fading faster than many had imagined,” Hamed bin Zayed Al Nahyan, the Managing Director at ADIA, said in the fund’s 2011 Annual Review. ADIA, which was founded in 1976 has stakes in gas fields in Norway, water companies in Britain as a well as in U.S. lender Citigroup, manages the wealth of the oil-rich emirate of Abu Dhabi………………………………………..Full Article: Source

Posted on 28 June 2012 by VRS |  Email |Print

The decision of the National Executive Council to approve the management process for the $1 billion Sovereign Wealth Fund (SWF) could not have come at a better time given the current global economic turmoil ravaging many developed and developing countries across the world.
The NEC meeting,which was presided over by Vice-President Namadi Sambo, at the Presidential Villa, Abuja, also approved the increase of the Excess Crude Account to $10 billion from the present $5.3 billion, as part of a deliberate attempt to provide at least a three-month buffer protection for the nation’s economy and insulate it from the vagaries and uncertainties of the global economy, which has been fuelled by the volatility of crude oil prices at the international market………………………………………..Full Article: Source

Posted on 28 June 2012 by VRS |  Email |Print

Brazil is the largest economy in South America and is rapidly growing into one of the largest economies in the world. It has huge natural resources which are constantly being developed to drive economic growth.
Looking to capitalise on the expansion of this huge countries economy, and the inevitable investment which will be put into developing infrastructure, Abu Dhabi’s Mubadala Development Company is looking to increase its presence in Brazil………………………………………..Full Article: Source

Posted on 28 June 2012 by VRS |  Email |Print

Resource-rich Mongolia headed to the polls Thursday to elect a new parliament with both major parties telling frustrated voters they could deliver better shares of a stunning but divisive mining boom.
“We will have a national sovereign wealth fund created that would benefit the people equitably,” an MPP — Mongolia’s oldest party — spokeswoman said………………………………………..Full Article: Source

Posted on 28 June 2012 by VRS |  Email |Print

Realty developer Brigade Group today said that it has created a special purpose vehicle (SPV) with Government of Singapore Investment Corporation (GIC) as a partner to develop a residential project in Bangalore and it will invest Rs 100 crore in the project.
“Brigade group and GIC, through its affiliate Reco Begonia, have entered into a 51:49 private equity partnership through a SPV for the development of a residential project on Whitefield Road, Bangalore,” the company said in a statement. The group would be developing the project and will be making an investment of over Rs 100 crore in the SPV with GIC as partner, it added………………………………………..Full Article: Source

Posted on 28 June 2012 by VRS |  Email |Print

Singapore investment giant Temasek Holdings has said it is looking to invest in European firms owing to an “abundance of opportunities” as the region suffers an economic crisis, a report said.
European firms with good operations and strong businesses outside of the region were being considered, Temasek’s head of strategy Chia Song Hwee said in remarks carried by the Straits Times daily………………………………………..Full Article: Source

Posted on 28 June 2012 by VRS |  Email |Print

Alaska’s $40 billion fund to look to hard-hit markets for rental properties it may later sell. The Alaska Permanent Fund Corporation’s board of trustees gave their final approval Tuesday to a new investment strategy hoping to capitalize on low home prices by buying and renting foreclosed homes.
The board approved investing $400 million in the new strategy, despite concerns from at least one trustee. There have also been concerns expressed about Alaska seeming to capitalize on others’ misfortune………………………………………..Full Article: Source

Posted on 28 June 2012 by VRS |  Email |Print

Sovereign wealth funds will play a key role in the “disappearance of hundreds of billions of dollars” from the private sector asset management industry over the coming decade, as some of the world’s largest investors become investment managers by buying into the sector, says KPMG.
The business consultancy’s Nicholas Griffin says: “”I fully expect in the next year a SWF will buy a global asset manager, and hundreds of billions [of dollars of AuM] will disappear from the market over the next 10 years, because SWFs will become asset managers, and this is something asset managers will have to respond to.”……………………………………….Full Article: Source

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