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Sovereign Wealth Funds Briefing 03.Feb 2015

Posted on 03 February 2015 by VRS |  Email |Print

Some of the world’s biggest sovereign wealth funds are in talks to provide financial backing for Hutchison Whampoa’s (0013.HK) acquisition of Telefonica’s (TEF.MC) British mobile business, the Telegraph newspaper reported, citing unidentified sources.
The 10 billion pound ($15 billion) move by Li Ka Shing’s Hutchison to merge its Three Mobile network with Telefonica’s O2 UK will make the group the top mobile operator in the country. The Telegraph said sovereign wealth funds including China Investment Corporation, Singapore’s Temasek and GIC, and one of Qatar’s big government-sponsored vehicles were in talks to provide a significant portion of the financing………………………………………..Full Article: Source

Posted on 03 February 2015 by VRS |  Email |Print

Singapore’s sovereign wealth fund GIC and its state investment arm Temasek Holdings are among the leading global funds that are that are in the race to pick up to 30% stake in the merged British mobile phone giants – 02 and Three – a report said.
Telefonica that owns O2 and Three’s owner, Hutchison Whampoa, controlled by the Hong Kong tycoon Li Ka-shing, recently unveiled plans to merge the two entities. As per the contours of the deal, Hutchison Whampoa will pay £9.25 billion in cash for Three , with an additional £1bn in deferred payments when the combined business hits certain cash flow targets………………………………………..Full Article: Source

Posted on 03 February 2015 by VRS |  Email |Print

The National Social Security Fund (NSSF), China’s supplementary pension fund, realised a return of 11.43% on investment in 2014, boosting its total AUM to more than 1.5 trillion RMB (US$240 billion), according to a report from Securities Daily. This beat the returns of 6.2% and 7% achieved in 2013 and 2012, respectively. China’s CPI inflation rate lingered somewhere between 1.4% and 2.5% in 2014.
“The NSSF has displayed an inflation-beating [average] return of 8.5% per annum since its inception in 2000. Over the previous seven to eight years, our equities investments have not only managed to deliver better than market performance, but they also outperformed the fund’s fixed income return,” Wang Zhongmin, the fund’s vice chairman, said during a conference in Beijing………………………………………..Full Article: Source

Posted on 03 February 2015 by VRS |  Email |Print

The Board of Directors of the Samruk-Kazyna Kazakh National Welfare Fund reviewed the results for 2014 and outlined plans for the next five years at the next meeting, chaired by Prime Minister Karim Massimov.
“The development plan is based on the forecast of socio-economic development of Kazakhstan for 2015-2019, taking into account the prices and tariffs for goods, work and services of the group of companies of Samruk-Kazyna,” said Nurlan Rakhmetov, Financial Director of Samruk-Kazyna. “In addition, the adjusted prices for Brent oil were used during the formation of the development plan - these data were provided in January by the Ministry of National Economy.”……………………………………….Full Article: Source

Posted on 03 February 2015 by VRS |  Email |Print

Norway’s $850 billion sovereign wealth fund purchased a 74,500-square-foot office and retail property in central London from Fondo David, a real estate fund managed by Sorgente SGR, it said in a statement on Friday.
The fund paid 190.6 million pounds ($287.41 million) for the Queensberry House at 3-9 Old Burlington Street in London, where it is also a tenant………………………………………..Full Article: Source

Posted on 03 February 2015 by VRS |  Email |Print

For years, we have all heard about the coming wave of FCPA (Foreign Corrupt Practices Act) enforcement against financial institutions, investment banks, private equity firms and others who interact with sovereign wealth funds overseas.
Just to remind everyone, back in 2010-2011, the SEC launched an industry investigation by issuing document requests to major banks, and investment bankers seeking information on their compliance programs and interactions with foreign officials, focusing primarily on sovereign wealth funds. After a number of articles, webinars and warnings, the issue seemed to die down………………………………………..Full Article: Source

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