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Sovereign Wealth Funds Briefing 16.Apr 2015

Posted on 16 April 2015 by VRS |  Email |Print

Norway’s oil fund, the world’s biggest sovereign wealth fund, said on Wednesday it would back a proposal from shareholders of BP and Royal Dutch Shell for further information from the companies on risks and opportunities associated with climate change.
The $885 billion Fund, which invests revenues from Norway’s offshore oil and gas production, disclosed its voting intentions for the first time ahead of the companies’ shareholders meeting, in line with its previously announced strategy to increase transparency………………………………………..Full Article: Source

Posted on 16 April 2015 by VRS |  Email |Print

Norway’s sovereign-wealth fund is pouring a bigger share of its cash into Africa in a bid to capture some of the fastest growth in the global economy. The $890 billion fund, which is already in South Africa, is spreading its investments to the north and west of the continent in search of opportunities, Yngve Slyngstad, chief executive officer of Norges Bank Investment Management, which manages the fund, said in an interview on Wednesday at Bloomberg’s headquarters in New York.
“What’s new is that we have crept north — Kenya and Nigeria — we’re looking at quite a few west African countries,” he said. “In North Africa, for quite some time, we’ve been invested in Morocco and Egypt, there are also some investments coming in Tunisia.”……………………………………….Full Article: Source

Posted on 16 April 2015 by VRS |  Email |Print

Norway’s Sovereign Wealth Fund manager and Central Bank governor, Oystein Olsen, said he intended to keep investments in Italy unchanged. “At the moment we’re not planning to increase our investments in Europe, which will remain at 40 percent of our global investments”, Mr Olsen told reporters in Rome.
He spoke after he was asked if he intended to increase investments in Italy. He was in Italy to attend the workshop promoted by the FeBAF, the Italian Banking, Insurance and Finance Federation, at the headquarters of ABI, the Italian Banking Association………………………………………..Full Article: Source

Posted on 16 April 2015 by VRS |  Email |Print

Norway’s $US880 billion oil fund will this week usher in a new era in corporate governance when it begins to disclose in advance how it will vote at companies’ shareholder meetings, in a bid to become a more active investor.
As part of its initiative, the sovereign wealth fund, which is the world’s largest, will also reveal that it is backing shareholder resolutions at BP and Royal Dutch Shell to force the oil companies to reveal more about how they are tackling climate change. This year, the fund is aiming to give notice of its voting intentions at the annual meetings of up to 10 companies it backs, with the “clear ambition” to expand the practice to more of the 9,000 companies in which it holds stakes………………………………………..Full Article: Source

Posted on 16 April 2015 by VRS |  Email |Print

Kazakhstan’s Sovereign Wealth Fund Samruk-Kazyna is considering establishment of a daughter company, Samruk Innovation, in the Silicon Valley in the United States. The Fund reported that the possibility of creating such a company was considered within the framework of the visit of working group leaders of a number of companies Samruk-Kazyna to Silicon Valley under the chairmanship of the Fund Umirzak Shukeyev held on April 9-10.
The working group familiarized itself with the work of Stanford University, University of California, Berkeley, as well as such well-known innovative companies, as Tesla Motors, SolarCity and other start-up companies. The sides discussed the possibilities of cooperation in the development of clean energy, gas chemistry, transport, medicine, agriculture, education, and IT………………………………………..Full Article: Source

Posted on 16 April 2015 by VRS |  Email |Print

The UK’s Conservative party, running neck-to-neck in the polls with the Labour party ahead of the country’s May 7 general election, has released its 2015 manifesto. Among the commitments is a pledge to establish a shale gas wealth fund for the north of England.
UK Prime Minister David Cameron, leader of the Conservatives, Tuesday launched his party’s plans should they win a new five-year term in power. The manifesto includes amongst its promises the creation of “a Sovereign Wealth Fund for the North of England, so that the shale gas resources of the North are used to invest in the future of the North.”……………………………………….Full Article: Source

Posted on 16 April 2015 by VRS |  Email |Print

The AMCM head says Macau will support the central government’s ‘one belt, one road’ development strategy and the China-led Asian Infrastructure Investment Bank. The president of the Monetary Authority of Macau (AMCM), Anselmo Teng, said the authorities are trying to have the Macau SAR investment fund’s detailed proposal ready by the fourth quarter of this year.
At the AMCM Spring cocktail reception yesterday, Anselmo Teng said that adhering to the principle of playing safe the SAR will support the central government’s initiatives and hopefully diversity its investment portfolio………………………………………..Full Article: Source

Posted on 16 April 2015 by VRS |  Email |Print

Ho Ching, Temasek chief executive, is taking a three-month “part-time sabbatical”, the Singapore state investment agency said on Wednesday. Ms Ho has headed Temasek since January 2004 and will continue with “board duties and specific stewardship duties”, according to a two-line statement.
Lee Theng Kiat, Temasek president, will assume Ms Ho’s other responsibilities as chief executive in her absence. “This is not related to any retirement plans at all,” said Temasek, adding that Ms Ho, 61, would return to the post full-time after her sabbatical. The group did not provide any further details………………………………………..Full Article: Source

Posted on 16 April 2015 by VRS |  Email |Print

Temasek Holdings’ chief executive Ho Ching said on Wednesday she plans to “spend some time on a couple of longstanding things” which she has wanted to do during her three-month sabbatical leave.
Earlier on Wednesday, Temasek had announced that Ms Ho was taking sabbatical leave. President of Temasek, Mr Lee Theng Kiat, will cover for Ms Ho in relation to “all normal course of business at Temasek as an investor and shareholder, as an institution, and as a steward”. Temasek did not give any reasons for Ms Ho’s leave………………………………………..Full Article: Source

Posted on 16 April 2015 by VRS |  Email |Print

Singapore’s Temasek Holdings is the single-largest foreign investor in Chinese banks, data from SNL Financial showed on Tuesday. And this comes as Chinese banks have outdone their peers in the region, according to indices from SNL. Its SNL China Bank index gained 34.71 per cent in the one year through March 31, far outperforming the SNL Asia-Pacific Bank index, which rose 7.56 per cent. These regional banks would include those from Japan and Australia.
The data on foreign investments in Chinese banks includes all classes of publicly traded common shares, but excludes investments reported before Jan 1, 2014. The market value of each investor’s stake in a company was calculated based on the March 31, 2015 closing price………………………………………..Full Article: Source

Posted on 16 April 2015 by VRS |  Email |Print

Singapore’s sovereign wealth fund GIC is in advanced talks to acquire Shriram Group’s nearly 2 million sqft IT SEZ in Chennai for Rs 860 crore ($136 million), marking its third big-ticket commercial office purchase in the last five months in India.
With this deal, GIC would have cumulatively invested about Rs 2,000 crore in buying office spaces in Mumbai, Bengaluru and Chennai since December last year. These investments exclude GIC’s commitments in the country’s residential real estate market. Big global peers Blackstone and Brookfield Asset Management bought commercial assets collectively worth over $ 2 billion in the country last year………………………………………..Full Article: Source

Posted on 16 April 2015 by VRS |  Email |Print

Middle East sovereign wealth funds (SWFs) cut their new investments in real estate in the rest of the world by almost a third last year because of the plunge of oil prices, consultants CBRE estimated. However Qatar’s $4.87 billion of outbound property purchases made it the largest source of capital from the Middle East. Saudi Arabia accounted for $2.30 billion, the United Arab Emirates $1.63 billion and Kuwait $665 million, CBRE wrote. It did not provide figures for the region’s other countries.
Outbound property investment by the SWFs, the vast majority of which are from the wealthy Gulf Arab oil exporters, dropped 31 percent to $5.84 billion in 2014 from $8.45 billion in 2013, CBRE wrote in a report on Tuesday………………………………………..Full Article: Source

Posted on 16 April 2015 by VRS |  Email |Print

Abu Dhabi Investment Authority to place remaining 23.5 mln shares in Deutsche Annington at 750 mln euros - source. Price range for Deutsche Annington between 30.80 euros and 31.79 euros - source.
BofAML sole bookrunner for placing of Abu Dhabi Investment Authority shares in Deutsche Annington - source……………………………………….Full Article: Source

Posted on 16 April 2015 by VRS |  Email |Print

Across Australia, sovereign wealth funds are buying up real estate and infrastructure, hoping to profit from favorable long-term demographic trends. But as prices rise and competition heats up, is the window of opportunity closing? On March 27, voters in New South Wales, Australia, returned right-wing Liberal politician Mike Baird to power as state premier at the head of a coalition government with the countryside-focused National Party.
Baird’s watchword throughout a bruising election campaign was “poles and wires” — he pledged to privatize the state’s electricity grid to raise money for an ambitious spending program to improve roads, schools and hospitals. As the opposition Australian Labor Party was against privatization, the election was considered a referendum on the sell-off — and the voters answered with a resounding yes………………………………………..Full Article: Source

Posted on 16 April 2015 by VRS |  Email |Print

In spite of concerns about how falling oil prices might affect sovereign wealth funds’ investment strategies, the funds’ have been steadily growing their assets under management well into March of this year, according to a report from London-based research firm Preqin. In fact, the proportion of sovereign wealth funds investing in real estate assets has grown to 59 percent in 2014, from 54 percent the year before.
For example, when private equity giant Blackstone closed its $14.5 billion real estate fund last month, the New Mexico State Investment Council was among the investors, with a $75 million stake. The fund manages the state’s permanent endowment fund and counts 19 government agencies among its clients………………………………………..Full Article: Source

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