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Central Huijin Buys Shares, Aims for Stabilization

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In recent days, Central Huijin Investment, a sovereign wealth enterprise of the China Investment Corporation (CIC), increased ownership in a number of Chinese companies.

Some Central Huijin Purchases

Date Company A Shares Bought in Millions Ownership
August 18, 2015 Agricultural Bank of China 1,255 44.64%
August 18, 2015 New China Life Insurance 28.249 32.24%
August 18, 2015 Shenwan Hongyuan 146.2 26.02%
August 18, 2015 China Everbright Bank Co., Ltd. 629.7 23.31%
August 14, 2015 Shanghai Kingstar Winning Software   4.62%
August 14, 2015 Hithink Royalflush   3%
August 14, 2015 Hangzhou Tigermed Consulting Co Ltd   2.31%
August 14, 2015 East Money Information   1.84%
August 14, 2015 Eastern Communications   1.62%
August 18, 2015 Qingdao Haier   1.52%
August 14, 2015 Guangdong Hec Technology Holding Co Ltd   0.89%
August 14, 2015 Zhejiang CONBA Pharma   0.71%
August 14, 2015 Hangzhou Everfine Photo-E-Info   0.26%
August 14, 2015 Zhejiang China Commodities City  

 

In other news, the People’s Bank of China, through Wutongshu Investment Platform Co. Ltd., a specialized entity for investing foreign exchange reserves that was established in November 2014, allocated US$ 48 billion to the China Development Bank (CDB). Wutongshu Investment Platform Co is under China’s State Administration of Foreign Exchange (SAFE). After the capital infusion, CDB’s capital increased from 306.7 billion yuan (US$ 48 billion) to 421.2 billion yuan (US$ 65.9 billion). Wutongshu now holds a 27.19% of shares in CDB; China’s Ministry of Finance holds 36.54%; Central Huijin Investment 34.68%; and the National Council for Social Security Fund 1.59%. Wutongshu Investment Platform also invested US$ 45 billion into the Export-Import Bank of China.

The People’s Bank of China also provided 110 billion yuan (US$ 17.19 billion) to 14 financial institutions through its medium-term lending facility to maintain liquidity in the banking system.

In addition, Wutongshu Investment Platform is the largest shareholder of the US$ 40 billion Silk Road Fund launched in December 2014 to fund projects related to the “belt and road” initiatives, controlling a US$ 6.5 billion position.

Ascendas-Singbridge Acquires Three Hotels in Osaka

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Singapore’s Ascendas-Singbridge has acquired three hotels in Osaka for 10.29 billion JPY to tap tourism growth in Japan’s third-largest city.

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BlackRock Contemplates Stake in Eurizon

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Asset management giant BlackRock is contemplating purchasing a 30% ownership stake in Intesa SanPaolo’s asset management unit called Eurizon Capital SGR S.p.A. BlackRock is keen on growing its technology business and increase market adoption of its Aladdin platform.

Intesa has been working with UBS to seek out strategic options for Eurizon. Intesa is keen on maintaining control over Eurizon.

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SWFI First Read, June 22, 2018

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JPMorgan Fund Buys 40% of Oxford Properties’ French Portfolio

A fund advised by JP Morgan Asset Management committed €400 million in Oxford Properties’ French portfolio. Essentially, Oxford Properties sold a 49.9% non-managing interest in 32 Rue Blanche, 92 Avenue de France and Paris Bastille. Oxford Properties made its maiden investment in Paris in 2014 when it acquired 32 Rue Blanche.

Oxford Properties is the real estate unit of OMERS.

Temasek Explores Further Cash Commitments to FirstCry

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