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Korea’s Reserves Reach Record High 315.95 Billion in March

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According to the press release, “Korea’s official foreign reserves as of the end of March 2012 amounted to 315.95 billion dollars, an increase of 0.15 billion dollars from 315.80 billion dollars at the end of the preceding month. This gain was attributable mainly to an increase in the operating profits on the reserves, offsetting decreases in the U.S. dollar translation values of reserves denominated in other currencies including the euro and the yen in line with their depreciations against the dollar.

As of the end of March 2012, Korea’s official foreign reserves (315.95 billion dollars) consisted of securities valued at 284.59 billion dollars (90.1%), deposits of 22.99 billion dollars (7.3%), SDRs of 3.54 billion dollars (1.1%), the country’s IMF reserve position of 2.66 billion dollars (0.8%), and 2.17 billion dollars in gold (0.7%).”

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HKMA and TRS Participates in Investment in Kakao Mobility

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Private equity firm TPG led a group of investors to acquire a minority ownership stake in Kakao Mobility Corporation, a South Korean taxi hailing service provider. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]

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Meraas Holding Names Former KIO Executive as CEO

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Osama Al-Ayoub, the former CEO and President of the Kuwait Investment Office (KIO), was hired by property firm Meraas Holding to be its chief executive officer. KIO is a London-based unit of the Kuwait Investment Authority (KIA). [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]

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Mumtalakat Contemplates Investing in SoftBank Vision Fund

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Bahrain-based Mumtalakat Holdings is interested in joining a chorus of sovereign funds committing capital to Japan-based SoftBank Group’s Vision Fund. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]

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