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Sovereign Wealth Funds Briefing 07.Oct 2015

Posted on 07 October 2015 by VRS |  Email |Print

Qatar’s sovereign-wealth fund participated in a $2.5 billion stock offering by Glencore Plc last month, maintaining its status as the largest investor in the commodities trader, people familiar with the matter said.
Qatar Holding LLC, the direct investment arm of the Gulf state’s sovereign wealth fund, bought 8.9 percent of the shares offered in the sale to keep its stake in the Switzerland-based company intact, the people said, asking not to be identified as the information is private. Glencore sold the shares at a price of 125 pence per share, meaning Qatar’s fund invested about $225 million in the offering………………………………………..Full Article: Source

Posted on 07 October 2015 by VRS |  Email |Print

Qatar Investment Authority, which has investments in companies ranging from Glencore to Volkswagen, plans to sell part of its stake in Vinci valued as much as $425 million. The sovereign wealth fund will sell about a 1.1 per cent stake, or up to 6.46 million shares, in the French construction company via a private placement arranged by Societe Generale, according to a statement.
The fund has held a stake in Vinci for over five years and will continue to hold about 3.9 per cent after the transaction. The Qatari fund, the ninth largest sovereign wealth fund in the world with assets of over $250 billion, according to the Sovereign Wealth Fund Institute, said last month it’s planning to invest $35 billion in the US over the next five years as it opened an office in New York………………………………………..Full Article: Source

Posted on 07 October 2015 by VRS |  Email |Print

One of the world’s largest sovereign wealth funds is reportedly considering shifting its focus away from the UK and Europe more broadly, in favour of the US and Asia. But the Qatar Investment Authority’s (QIA) plans could deal a blow to the City because it regularly takes part in initial public offerings and mergers and acquisitions.
“The QIA is in the process of reviewing its strategy and it remains to be seen whether that will significantly change in terms of the sectors and regions it invests in,” a market expert told the Times………………………………………..Full Article: Source

Posted on 07 October 2015 by VRS |  Email |Print

Norway’s minority government will propose to cut corporate and personal taxes and boost spending from the country’s oil fund in its 2016 budget, public broadcaster NRK and tabloid VG reported on Tuesday.
Known as the structural non-oil deficit, the amount corresponds to 2.8 percent of the expected size of the country’s sovereign wealth fund. Norway’s sovereign wealth fund, or oil fund, is the world’s largest with $845 billion of assets built up from petroleum revenues over a period of almost 20 years………………………………………..Full Article: Source

Posted on 07 October 2015 by VRS |  Email |Print

The investment division of the finance ministry has finally approved setting up of the National Investment and Infrastructure Fund (NIIF), initially proposed in the last Union Budget. The Fund is likely to be operational from the end of this year. Finance Minister Arun Jaitley in his recent visit to Singapore and Hong Kong pitched to the pension and wealth funds there to invest in the NIIF, touted to be India’s own version of a sovereign wealth fund (SWF).
The Fund will receive an initial allocation of INR20,000 crore as seed money, which, in turn, will be used to lend equity/quasi-equity/debt support to commercially viable green-field and brown-field infrastructure projects, including stalled ones………………………………………..Full Article: Source

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