Tag: Sovereign Wealth Funds

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External Links: Wikipedia

Statements

Date 
2008-10 Industrial & Commercial Bank of China paid $5.6 billion for 20% of South Africa's largest bank.
2008-01-24 "They don't like us, but they need our money."
-- Kristin Halvorsen, Finance Minister of Norway, which has a $300 billion fund, in panel of World Economic Forum, Davos
2008-01-24 "It's the premise of capitalism that people own shares to maximize value. But if you think of an investment made by a state fund, there could be multiple motives. Perhaps we want the airline to fly to our country, perhaps we want the bank to do extensive business in the country, suppose we want suppliers in our country to be sourced, perhaps we want some disablement of a competitor for our country's national champion. When there's no assurance that value maximization is not being pursued, there is a potential question."
-- Larry Summers, former USA Treasury Secretary, in panel of World Economic Forum, Davos
2007-10-24 The increasing economic clout of undemocratic governments could mean that "our markets will be less transparent, less yielding to outside law enforcement."
-- Christopher Cox, chairman of the Securities & Exchange Commission, in a speech at Harvard University
2007-10 Dubai bought part of Och-Ziff Capital Management, a hedge fund in New York.
2007-10 Henry M. Paulson Jr., Treasury secretary of the United States, and the finance ministers of other major industrial democracies called for an international code of “best practices” by cross-border investors requiring greater disclosure of assets and actions.
2007-03 China announced that it would set up a special investment arm — the State Foreign Exchange Investment Company — to handle a portion of its foreign reserves, which are now held by the central bank, in the hopes of earning a higher return.
2006 United States current account deficit hit $857 billion, 6.5 percent of GDP
2006 United States trade deficit hit $764 billion.

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