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Sovereign Wealth Funds Briefing 13.Feb 2015

Posted on 13 February 2015 by VRS |  Email |Print

China’s sovereign wealth fund China Investment Corp (CIC) provided most of the capital for a more than $1 billion purchase of Tokyo’s landmark property Meguro Gajoen from Mori Trust Co, in China’s largest investment in Japanese property, advisers said.
Earlier this week, LaSalle Investment Management, a property investment manager, said a fund it arranged bought Meguro Gajoen with money from a sovereign wealth fund, which it declined to name………………………………………..Full Article: Source

Posted on 13 February 2015 by VRS |  Email |Print

A unit of Temasek Holdings has invested an undisclosed amount in local construction firm Deluge Fire Protection to allow it to expand further overseas. The capital injection by Heliconia, which focuses on helping local small and medium-sized enterprises, will underpin the firm’s expansion into Indonesia and the Philippines amid rapid urbanisation across the region.
The company has already moved abroad with offices in Malaysia, Myanmar, Thailand and Vietnam, along with a pre-fabrication factory in Johor. Deluge managing director Vincent Cheo said the investment could help the firm double its overseas revenue in the next three to five years……………………………………….Full Article: Source

Posted on 13 February 2015 by VRS |  Email |Print

The world’s largest sovereign wealth fund has reached its peak amid a collapse in oil prices, according to the governor of Norway’s central bank. The development means western Europe’s biggest crude producer needs to get used to lower revenue from its petroleum industry, Governor Oeystein Olsen said in the text of a speech delivered in Oslo on Thursday.
“At an oil price of around $60 per barrel, transfers to” the wealth fund “may come to a halt,” he said. As head of the central bank, Olsen oversees Norway’s $860 billion Government Pension Fund Global………………………………………..Full Article: Source

Posted on 13 February 2015 by VRS |  Email |Print

There was some dramatic news out of Norway this week, showing what is possible on the climate front if the political will is there. The Norwegian government announced that they would cut their carbon emissions by no less than 40% from 1990 levels by the year 2030. This puts them in line with the ambitious target set by the European Union (EU).
Norway’s sovereign wealth fund happens to be the largest in the world. So the fact that they have chosen to dump the stocks of those 32 coal-related companies and those of any other companies that contribute disproportionally to climate change is quite a statement………………………………………..Full Article: Source

Posted on 13 February 2015 by VRS |  Email |Print

A recent study from WWF Sweden and PwC has revealed exactly that. Through the social security system, sovereign wealth funds and church funds, among other, all of us are investors. This crucial piece of information has been picked up by many, not least by professional investors and future pensionists.
Just this week the world’s wealthiest sovereign wealth fund Norges announced its divestment from 114 companies with the aim to strengthen its work on responsible investment. Norges argued there to be “high levels of uncertainty about the sustainability” of the companies’ business models it divested from………………………………………..Full Article: Source

Posted on 13 February 2015 by VRS |  Email |Print

In 2014, the State Oil Fund of Azerbaijan (SOFAZ) allocated AZN 300 m to improve social and living conditions of refugees and internally displaced, Oxu.Az reports with reference to SOFAZ.
According to the approved budget for 2015, the expences of the Oil Fund to finance activities in connection with the improvement of social and living conditions of refugees and internally displaced persons are provided in the amount of AZN 150 m………………………………………..Full Article: Source

Posted on 13 February 2015 by VRS |  Email |Print

In 2013, Premier Christy Clark announced an intention to create the B.C. Prosperity Fund using liquefied-natural-gas revenues. Since then, we’ve heard little about it. But as budget season comes around again, we might finally get some details. After all, last year’s budget said that the Prosperity Fund wouldn’t move forward until the LNG tax was finalized, and that happened last fall. This makes now a good time to renew the discussion about a sovereign wealth fund in B.C.
Let’s revisit what a sovereign wealth fund is and why resource-dependent regions use them. When it was first announced, the B.C. Prosperity Fund was pitched as a way for B.C. to pay off its debt, reduce taxes and pay for social services. This might lead some people to think that the Prosperity Fund would be a new source of money. That’s not quite right………………………………………..Full Article: Source

Posted on 13 February 2015 by VRS |  Email |Print

Greg Poelzer of the Macdonald-Laurier Institute released a report Thursday arguing that the creation of so-called “sovereign wealth funds” would take money out of the hands of politicians interested in spending in the short-term and instead place it into long-term investments.
The funds are government-owned and managed, but kept separate from other reserves. They would keep generating returns on investment even after a non-renewable resources dries up.Alberta is not contributing to a decades-old fund and B.C. is the only other province to float the idea of a fund. The federal government has also dismissed creation of a sovereign wealth fund. The idea of a sovereign wealth fund — the type that has made every Norwegian a theoretical millionaire — has received renewed interest in the past few months as Canadians take in the economic damage caused by a huge slide in the price of oil………………………………………..Full Article: Source

Posted on 13 February 2015 by VRS |  Email |Print

The news that Abu Dhabi’s International Petroleum Investment Company has secured naming rights to Real Madrid’s home ground – turning it into the Abu Dhabi Santiago Bernabeu – represents an interesting branding exercise. Sovereign wealth funds rarely seek brand recognition: usually quite the reverse.
IPIC’s venture puts us in mind of another Abu Dhabi sovereign wealth fund’s brief engagement with international football, when the Abu Dhabi Investment Authority (Adia)’s shareholding in Manchester United reached a level where it had to be disclosed, back in 1998. Clearly, there was nothing wrong with that as an investment, but Adia reportedly exited it because of the unwelcome attention it was bringing, to the point where disgruntled fans would phone up the sovereign wealth fund if their team lost at the weekend………………………………………..Full Article: Source

Posted on 13 February 2015 by VRS |  Email |Print

The National Social Security Fund (NSSF) has unveiled plans to buy bonds of high growth potential start-ups on the Growth Enterprise Market Segment (GEMS). The fund intends to buy well-designed bonds on the alternative market and later sell the same to new investors through the stock exchange; the move is expected to bolster the segment.
Richard Byarugaba, the NSSF managing director, told the media at Workers House that discussions have been held with the Capital Markets Authority (CMA) and the Uganda Securities Exchange (USE) on the prospects of the bonds. He revealed that separate discussions have been held with senior offi cials of Bank of Uganda about increasing the variety of investment instruments such as infrastructure bonds, like is currently available in Kenya and Rwanda………………………………………..Full Article: Source

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