News/Sovereign Wealth
CIC’s profits soar by 81%
China Investment Corporation records gains of $41.6 billion
Natural gas discovery sparks debate in Lebanon over SWF
Potential discovery of natural gas off the shore of northern Israeli coast sparks debate among Lebanese government officials over whether to create a new sovereign wealth fund
Temasek Holdings’ portfolio hits record high
Singaporean sovereign wealth fund Temasek Holdings says portfolio has hit record of $135 billion; fund chief credits increased exposure to Asian emerging markets
UAE governor urges sovereign funds to repatriate
Governor of the Central Bank of the United Arab Emirates Nasser Al-Suwadi appeals to sovereign wealth funds in the region to reject pre-crisis strategy of investing in companies based in advanced economies and instead inject funds into the Gulf region
Norway’s wealth fund profits again
Norges Bank’s Government Pension Fund-Global returns just under 4% for first quarter of 2010, outperforming benchmark once again; fund will set up Singapore office to strengthen Southeast Asian presence
Norway’s wealth fund smashes profit record
Norway’s Government Pension Fund–Global sees a 25.6% return on its investments for 2009, trumping the benchmark portfolio by more than four percentage points
China’s SWF to take control of its portfolios
China Investment Corporation will increase the proportion of investments that are managed in house, says its chairman Lou Jiwei
Norway’s SWF looks to emerging markets
Government Pension Fund-Global, the Norges Bank-run oil fund, thrived in the crisis as a result of its equity-laden and highly diversified portfolio, says government investment chief
Kuwait SWF sells Citi stake for $1.1 bn profit
Kuwait Investment Authority announces sale of its Citigroup share; follows Singapore GIC’s sale of Citi stake in September
China Investment Corporation to invest in Apax: reports
China’s sovereign wealth fund reportedly set to inject in private equity group
Record profits for Norway’s Government Pension Fund
Third-quarter returns for Government Pension Fund – Global came to 13.5%
CIC set to shift focus to emerging markets: academic
Academic with ties to Beijing's sovereign wealth fund says China to turn to Africa, Middle East and Asia
GIC cuts Citi stake
Fortunes contrast with those of Temasek, Singapore’s other sovereign fund
Temasek profits slide
Profits down 66% after bleak year for Singapore’s sovereign wealth fund
Norwegian fund names new executive team
Changes end reorganisation started in early 2008
Norwegian sovereign fund makes record gain
Government Pension Fund – Global records 12.7% return in the three months to March, its best ever quarterly result
China sovereign fund publishes first annual report
China Investment Corporation reports negative rate of return for 2008 in first ever Annual Report
Temasek admits $28 billion-plus balance-sheet hit
CEO of Singapore sovereign wealth fund reveals portfolio loss and says it may open to public investment
Goodyear and Temasek part, strategy differences blamed
Temasek says Chip Goodyear will not be taking over as the new CEO
Korean sovereign fund eyes stock switch
Portfolio at Korean Investment Corporation will be half equities
Dubai joins Long-Term Investors Club
The Investment Corporation of Dubai, the investment arm of the government of Dubai, has joined the Long-Term Investors Club, a group of public-sector investment bodies.
Norway SWF's share strategy prompts record loss
Norway's Government Pension Fund - Global booked its steepest yearly loss in its ten-year history on Wednesday after its strategy to invest a higher proportion of its wealth in equities backfired
Russia bans SWFs from holding US agency debt
Moscow has banned its sovereign wealth funds from holding US agency debt, declaring the paper too illiquid.
Goodyear in after bad year at Temasek
Chip Goodyear, a former chief executive at BHP Billiton, a mining company, is to replace Ho Ching, the wife of Singapore's prime minister, as chief executive of Temasek, the city state's sovereign wealth fund.