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Sovereign Wealth Funds Briefing 16.Aug 2012

Posted on 16 August 2012 by VRS |  Email |Print

Lee Dong-ikSeoul-based Korea Investment Corporation, like other big institutions, is busy trying to resolve the issue of how to get a decent return these days as its portfolio grows. Methods being considered or already used by new chief investment officer Lee Dong-ik* including boosting KIC’s alternatives exposure, investing more in China and considering including a bigger absolute-return portion in its portfolio.
Lee replaced Scott Kalb in May amid what is a very tough market for investors. And finding returns will become ever trickier as KIC expands in size. He expects the $47 billion sovereign wealth fund to hit $50 billion by the end of the year and $100 billion in 2017………………………………………..Full Article: Source

Posted on 16 August 2012 by VRS |  Email |Print

Ming Z. Mei Global Logistic Properties Ltd. (GLP), a unit of Singapore’s sovereign wealth fund, said its China assets will match those in Japan as tenants, including online retailers Amazon.com Inc. and 360buy.com, add more space.
The company invested $1 billion in China last year and expects to expand from that base as it attracts tenants with modern warehouses in the world’s fastest-growing major economy, Chief Executive Officer Ming Z. Mei said. The net asset value in China will match that in Japan in six to 12 months, he said………………………………………..Full Article: Source

Posted on 16 August 2012 by VRS |  Email |Print

From the Grand Wailea Hawaii to the La Quinta in California, Singapore’s sovereign-wealth fund may go for some of the best known resorts in the U.S. The WSJ’s Deborah Kan speaks to Dow Jones Singapore Bureau Chief P.R. Venkat.……………………………………….Full Article: Source

Posted on 16 August 2012 by VRS |  Email |Print

The Government of Singapore Investment Corporation (GIC) may have gained the upper hand in a protracted tussle with two United States funds over four luxury resorts.
GIC, a major creditor to the properties, filed documents in New York’s federal bankruptcy court last week charging that hedge fund Paulson & Co and Winthrop Realty Trust missed an interest payment on the debt………………………………………..Full Article: Source

Posted on 16 August 2012 by VRS |  Email |Print

The Federal Deposit Insurance Corp is taking on a new role as a bankruptcy lender, Singapore’s sovereign-wealth fund is forcing an auction of four resorts owned by John Paulson’s hedge fund and Pergrine’s CEO is set to be arraigned Friday on fraud charges.
Singapore’s sovereign-wealth fund is forcing an auction of four massive luxury U.S. resorts, setting up the fund for a confrontation with the existing owners: a group led by hedge fund Paulson & Co. and Boston-based Winthrop Realty Trust……………………………………….Full Article: Source

Posted on 16 August 2012 by VRS |  Email |Print

The Prime Minister’s Taskforce on Manufacturing has made 41 recommendations to address the major challenges facing Australia’s manufacturing sector, including diverting funds into manufacturing-related research, the investigation of a sovereign wealth fund, business tax cuts, and an increase in infrastructure investment.
The taskforce has argued manufacturing is an important part of the Australian economy, but faces significant challenges including the high Australian dollar, the strength of the resources boom, and increased competition from China………………………………………..Full Article: Source

Posted on 16 August 2012 by VRS |  Email |Print

New accounting rules might allow the federal government to shift more than $400 million of Future Fund costs, giving Prime Minister Julia Gillard renewed hopes of securing a budget surplus.
The Department of Finance has reportedly advised the government that there is “a strong conceptual basis for excluding the Future Fund’s net earnings rather than gross earnings from the calculation of the underlying cash balance.”………………………………………..Full Article: Source

Posted on 16 August 2012 by VRS |  Email |Print

Sovereign wealth fund Abu Dhabi Investment Authority is reportedly the front runner to acquire Marriott hotels in the UK. The 42 properties were put up for sale by Royal Bank of Scotland last year with a sale price of more than $1 billion.
Several potential buyers have expressed an interest in the chain, including private equity giant Blackstone Group………………………………………..Full Article: Source

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