State funds cast their nets
The CIC has changed its strategy after becoming concerned that dollar-denominated securities are no longer reliable, writes Henny Sender
Sovereign Funds
Resources
State-backed investors seeking higher returns on their capital are buying western company shares, but the move has provoked a mixture of protectionism, anger and mistrust
Qatar fund aims to diversify through Asia
The head of Qatar Holding, the direct investment arm of the Qatar Investment Authority, says it will soon open an office in China as it seeks to boost its growing portfolio in the Far East
CIC head warns of asset price bubble
China’s sovereign wealth fund has invested about half its $110bn in available capital in overseas stocks, mining, energy and real estate and has earned decent returns so far, according to the head of the fund
SWFs lined up to bolster venture capital
Sovereign wealth funds will be invited to invest alongside the UK government in a £1bn vehicle to finance VC funds as part of ‘strategic partnerships’ with the technology industry
CIC buys stake in Kazakh oil and gas group
China Investment Corp, the country’s sovereign wealth fund, buys an 11 per cent stake in London-listed KazMunaiGas Exploration Production, marking its third global investment in natural resources assets in just one week
GIC looks to Asia and emerging markets
Singapore’s giant sovereign wealth fund GIC has recovered more than half of last year’s losses as markets rallied in recent months, and is optimistic about prospects for emerging markets and Asia
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Comment and Analysis
Abu Dhabi multiplies investment arms
Questions have been raised about the extent of co-ordination between the emirate’s various funds and whether the diversity heightens the risk of Abu Dhabi overplaying its hand
From vultures to white knights
After financial markets’ rush to liquidity and safety, sovereign wealth funds are among the few remaining sources of capital with patience and tolerance for risk. We should be grateful for them
Daimler’s Mideast move seen as showcase
Daimler’s move to bring in Abu Dhabi-based Aabar Investments is seen by many as a showcase of how large German industrial groups are turning to the Middle East in search for cash and growth opportunities
Daimler/Abu Dhabi
German authorities should feel relieved about the carmaker’s cash injection from Aabar Investments. The benefits to Abu Dhabi are less clear cut
Abu Dhabi’s goals
What makes Abu Dhabi unlike not just its sister and competitor emirates but pretty much everywhere in the Arab world is its devotion to manufacturing. Much of its oil wealth is being used to start industries from scratch
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