Archive | April, 2009

China Investment Corporation’s Investment Departments Reorganized

The press release states, “ever since our inception in 2007, CIC’s management team has been committed to improving our corporate governance and investment strategy. Over the past year, we have developed a sound investment management system and a strong professional team. CIC has recently reorganized its investment departments to further improve corporate efficiency, and boost […]

State Oil Fund of Azerbaijan posts assets at $10.864 billion

The assets of SOFAZ as at April 1, 2009 stood at 8 721.4 mln. manats (USD 10 863.9 mln.). read more: SOFAZ

Kuwait eyes profit from Citigroup stake -minister

According to Reuters, “Kuwait’s finance minister expressed confidence in the Gulf Arab state’s sovereign wealth fund investment in U.S. bank Citigroup, saying in remarks published on Tuesday that it could turn profitable. ‘Our investment in Citi… is beneficial… and God willing we will reach a stage where it becomes profitable,’ Mustapha al-Shamali told al-Rai newspaper. […]

Vietnam: State equity in firms poorly managed

VNS states that “state equity in former State-owned enterprises that have been equitised remains poorly managed due to the overlapping authority of ministries and provincial governments, State Capital Investment Corporation deputy director Le Song Lai told a conference last week on management of state assets. ‘Even in equitised firms, ministries and provincial authorities still intervene […]

China calls for reform of global monetary system

AFP reports that, ” China called Sunday for reform of the global currency system, dominated by the dollar, which it said is the root cause of the global financial crisis. ‘We should attach great importance to reform of the international monetary system,’ Chinese Vice Finance Minister Li Yong told the spring IMF/World Bank Development Committee […]

Bahrain investing in massive projects

Trade Arabia reports that, “Bahrain is pushing ahead with massive developments as much of the world cowers in the face of recession, said the head of the government’s investments arm. Bahrain Mumtalakat Holding Company chief executive officer Talal Alzain, was speaking as he detailed the $1 billion (BD378 million) @bahrain development, a business, technology, retail […]

Mubadala releases 2008 annual report

Some highlights of the report state, “Also included in the Annual Report is detailed information about Mubadala’s financial performance for the calendar year 2008 – a period of rapid business development. Mubadala’s total assets grew from AED39 billion in 2007 to more than AED54 billion by the end of 2008, representing an increase of 40 […]

China’s forex investment profitable: state media

According to Xinhua, “China said Friday that its investments of foreign exchange reserves remained profitable last year despite the global financial crisis that sent financial assets shrinking in value, dispelling concerns of huge losses with such investments.[ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]

Lower House Approves Brazil Sovereign Wealth Fund

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Becton enters $160 million strategic partnership with Oman Investment Fund

According to the press release, “Becton Property Group (“Becton”) is pleased to announce the formation of a strategic partnership with the Oman Investment Fund (“OmIF”) comprising: 1. A Retirement Alliance in which Becton and OmIF will each hold a 50 per cent interest and which will provide additional funding to Becton’s four completed retirement villages […]

UK Mandelson encourages sovereign wealth fund investment

Reuters reports, “Britain would welcome investments by sovereign wealth funds to bolster its economy, Business Secretary Peter Mandelson said on Wednesday. Gulf-based investment firms have poured billions of dollars in recent years into businesses ranging from Western banks and stock exchanges to sports clubs and circus troupes. Britain’s economy will shrink by 3.7 percent this […]

A Hallmark of Transparency – Alaska Permanent Fund shows Real Estate Holdings

Investment transparency is a concern for many governments and sovereign wealth funds. The Sovereign Wealth Fund Institute has noticed that many sovereign wealth funds are beginning to take steps to increase their transparency in recent months. The Alaska Permanent Fund is leading the way in investment transparency. They are one of the first sovereign wealth […]

Central Huijin Investment plans to buy a 38% stake in New China Life Insurance

Caijing reports that, “Central Huijin Investment Ltd., an arm of sovereign wealth fund China Investment Corp, will buy a 38% stake in New China Life Insurance Co. from the China Insurance Regulatory Commission (CIRC). A person close to shareholders of New China Life, China’s fifth-largest insurer, told Caijing that the acquisition was approved by the […]

Australia approves Chinese Fortescue investment

Press release states “Today I approve the application by Hunan Valin Iron and Steel Group for up to a 17.55 per cent shareholding in Fortescue Metals Group, subject to the formal and strict undertakings I have sought from Hunan Valin, and which have also been agreed to by Fortescue Metals Group. These undertakings are as […]