Thu, Mar 26, 2015
A A A
Welcome kivanova2
RSS

Author Archives | VRS

VRS - who has written 15970 posts on Opalesque Sovereign Wealth Funds Briefing.


Contact the author

Kazakhstan, Azerbaijan, Georgia and Turkey to set up joint transport company

Posted on 18 March 2015

Kazakhstan, Azerbaijan, Georgia and Turkey intend to set up a joint transport company for rail transport as part of TRACECA program, Ambassador of Kazakhstan to Azerbaijan Amangeldy Zhumabayev said.

1MDB support letter as good as guarantee, says DAP

Posted on 18 March 2015

Putrajaya’s letter of support to debt-laden 1Malaysia Development Bhd is tantamount to a guarantee on the loans taken by the fund, the DAP said today.Party publicity chief Tony Pua said although all ministers had insisted that the loans guaranteed by the federal government amounted to only RM5.8 billion, the actual figure was more than RM16 [...]

Norway fund turns green, exits coal stocks

Posted on 17 March 2015

The $850-billion Norwegian Government Pension Fund, the world’s largest sovereign wealth fund, has sold off almost all of its holdings of Indian coal and power stocks such as Coal India, Adani Power, GVK Infra and NTPC, Lanco Infratech, CESC and Monnet Ispat, among others, during 2014, citing risks posed to climate, according to the list [...]

Norwegian fund dumps Australian coal investments

Posted on 17 March 2015

The world’s richest sovereign wealth fund has rid itself of investments in Australian coal companies, highlighting the environmental impact of the production of the commodity. Norges Bank, manager of the $US850 billion Norwegian Government Pension Fund, has outlined the divestment of its interests in 14 coal miners around the world in 2014.

Adani, Whitehaven, Peabody sold by Norway

Posted on 17 March 2015

Whitehaven Coal, America’s Peabody Energy and China’s Yanzhou Coal Mining are among a slew of coal mining and power companies dumped by Norway’s giant sovereign wealth fund during 2014. The divestments also include India’s Adani Power, which wants to build a giant coal mine in Queensland’s Galilee Basin, and large numbers of coal companies in [...]

Norwegian pension fund asks companies to reveal climate change strategies

Posted on 17 March 2015

The Norges Bank, manager of Norway’s Government Pension Fund, has called for companies it investment in to test their business strategies against global climate change efforts. According to WWF-Norway, if other funds follow suit it could be the start of the “tipping point” the world needs to stop financing polluting energy sources.

Formula 1 owner and Singapore fund weighs Center Parcs deal

Posted on 17 March 2015

Formula One owner CVC Capital partners and Singapore’s sovereign wealth fund GIC have launched a joint bid of around £2.5bn for leisure group Center Parcs. The pair are one of several parties circling the group after its private equity owner Blackstone said it was considering an ownership overhaul yesterday, including “private or public equity or [...]

Sovereign wealth a major GCC asset

Posted on 17 March 2015

Despite the sharp decline in oil prices, especially during the second half of 2014, the GCC countries own huge sovereign wealth. It is remarkable that the wealth of Gulf sovereign wealth funds increased during the course of the year. According to Sovereign Wealth Fund Institute, which monitors sovereign wealth, sovereign wealth funds have registered steady [...]

Gulf sovereign wealth funds punching above their weight

Posted on 17 March 2015

According to the Sovereign Wealth Fund (SWF) Institute, GCC-based SWFs have a total of $2.6 trillion (Dh9.54 trillion) in assets — about 37 per cent of total SWF assets worldwide. Close to 80 per cent of SWF assets in GCC states are accounted for by three major players — the Abu Dhabi Investment Authority with [...]

Wealth funds eye GBP2.5bn Center Parcs

Posted on 16 March 2015

Singapore and Abu Dhabi’s sovereign wealth funds are thought to be among a group of institutions considering bidding for the holiday village operator Center Parcs. Blackstone, the American buyout group that has owned Center Parcs since 2006, has invited bids as it looks to offload the business.

Gulf sovereign wealth funds punching above their weight

Posted on 16 March 2015

According to the Sovereign Wealth Fund (SWF) Institute, GCC-primarily based SWFs have a total of $two.six trillion (Dh9.54 trillion) in assets — about 37 per cent of total SWF assets worldwide. Close to 80 per cent of SWF assets in GCC states are accounted for by three main players — the Abu Dhabi Investment Authority [...]

Norwegian sovereign wealth fund achieves 7.6 pct return in 2014

Posted on 16 March 2015

Norway’s sovereign wealth fund returned 7.6 percent, or 544 billion Norwegian kroner (67 billion U.S. dollars), in 2014, with positive results for all its asset classes, but underperformed its benchmarks, the fund said on Friday.

Norway’s sovereign fund doubles in three years

Posted on 16 March 2015

Norway’s sovereign wealth fund, the biggest in the world, has nearly doubled in three years, the central bank said Friday, which would make all 5.2 million Norwegians millionaires — at least on paper. The fund comprised of stock, bonds and property from around the world returned 7.6 percent in 2014, ending the year at 6.431 [...]

Norway’s $860 bln oil fund to allocate new cash to real estate

Posted on 16 March 2015

Norway’s $860 billion sovereign wealth fund was weighed down by poorly performing European investments in 2014 and will increase real estate holdings and again sell European bonds this year, it said on Friday.

Norway’s oil fund to sell European bonds, buy real estate in 2015

Posted on 16 March 2015

Norway’s $860 billion sovereign wealth fund will continue to sell down its European government debt portfolio and may spend all of its new cash inflow in 2015 on real estate investments, Chief Executive Yngve Slyngstad said on Friday.

Norway’s Sovereign-Wealth Fund Reduces Exposure to Europe

Posted on 16 March 2015

Norway’s sovereign-wealth fund, the world’s biggest, reduced its exposure to Europe to below 40% of its value last year, to balance risks and take advantage of growing markets elsewhere—adding that it has been allowed to invest more in China.

Norway’s $860 bln oil fund underperforms in 2014 on big Europe exposure

Posted on 16 March 2015

Norway’s $860 billion sovereign wealth fund, the world’s biggest, underperformed its benchmarks in 2014 because of its big exposure to Europe and the relatively short duration of its fixed income portfolio, it said on Friday.

Biggest Wealth Fund Loads Up on Spanish Bonds as Part of QE Bet

Posted on 16 March 2015

Norway’s $860 billion sovereign wealth fund, the world’s biggest, has bought up Spanish government bonds in anticipation that European Central Bank debt purchases will drive up their value.

Norway’s giant fund increases stake in oil and gas companies to £20bn

Posted on 16 March 2015

The world’s richest sovereign wealth fund increased its stake in major oil and gas companies to £20bn in 2014, disappointing campaigners who argue it should continue to sell off its investments in the fossil fuels that drive climate change. Norway’s Government Pension Fund Global (GPFG), which rose to £531bn in total, revealed in February that [...]

Norway’s Sovereign Wealth Fund reducing investments in Turkish bond market

Posted on 16 March 2015

Norway’s Sovereign Wealth Fund, the largest in the world at USD 890 billion, has announced that it will be reducing its investments in the Turkish bond market, resulting in a TRY 77 million decline in bonds. Despite Turkey having a coefficient of 1 according to the Barclays Capital Aggregate Bond Index, the Sovereign Wealth Fund [...]

Norway oil fund backs US board appointments push

Posted on 16 March 2015

The world’s biggest sovereign wealth fund has thrown its weight behind the push for shareholders in US companies to be allowed to propose their own candidates for boards of directors.

Norway Wealth Fund Gains $67 Billion on Emerging Market Bet

Posted on 16 March 2015

Norway’s sovereign wealth fund rose 544 billion kroner ($67 billion) last year as it broadened its holdings to capture more growth in emerging and frontier markets. The Government Pension Fund Global returned 7.6 percent in 2014, its smallest gain since 2011, the Oslo-based investor said on Friday. The $860 billion fund’s stocks rose 7.9 percent [...]

Everyone in Norway is a millionaire… on paper at least

Posted on 16 March 2015

If you are dreaming of becoming a millionaire, getting the Norwegian nationality might be a good step. The Norwegian public pension fund, the largest sovereign fund in the world, posted last year a 7.6% yield, almost doubling its value in three years, announced Friday the Bank of Norway, which manages the fund.

Russia seeing ’surge’ of investment from China

Posted on 16 March 2015

A slew of Chinese companies are investing in Russia, according to the CEO of Russia’s sovereign wealth fund, who said it was helping to negate the void caused by international sanctions.

GCC SWF’s can absorb shocks from oil volatility

Posted on 16 March 2015

Sovereign wealth funds (SWFs) in Gulf Cooperation Council (GCC) countries are functioning as both diversification engines and shock absorbers during times when oil prices fall, according to Bruno Daher, chief executive officer of Credit Suisse in the Middle East and the Indian subcontinent.

SWFs Team Up on Big Deals

Posted on 16 March 2015

Sovereign wealth funds have been collaborating on some massive deals this week. On Tuesday we learned that a consortium of investors — reported to include the Abu Dhabi Investment Authority (ADIA) and Singapore’s GIC, as well as Dutch pension fund PGGM and London-based private equity firm TDR Capital — was preparing [...]

Twin ghosts haunt Malaysia’s sovereign fund

Posted on 13 March 2015

Malaysia’s 1MDB faces a daunting task. The six year-old sovereign fund was set up to finance big national projects but expanded too fast, took on heavy debts and is now at the centre of a growing controversy. An ambitious restructuring brings both political and financial risks. The fund which counts Prime Minister Najib Razak as [...]

1Malaysia Devt Bhd undertaking IPO to overcome cash flow problems

Posted on 13 March 2015

1Malaysia Development Bhd (1MDB) is in the process of undertaking the initial public offering (IPO) to inject capital flow into the sovereign fund to overcome its cash flow problems. Second Finance Minister Datuk Seri Ahmad Husni Hanadzlah, said this short-term measure would be launched in June or July.

GIC part of PGGM-led consortium in $3.2b LeasePlan deal

Posted on 13 March 2015

Singapore’s sovereign wealth fund GIC is part of the consortium led by PGGM, the Dutch public sector pension fund, that is in talks to buy the world’s largest vehicle-leasing business from Volkswagen in a deal worth estimated around €3 billion ($3.2 billion), Sky News said in report.

Sovereign Fund Looks to Emerging Markets

Posted on 13 March 2015

China’s $653 billion sovereign-wealth fund is looking to invest more in emerging markets, according to an infrastructure-investing official at the fund, China Investment Corp.

Super funds lament lack of local infrastructure opportunities

Posted on 13 March 2015

Industry super funds have highlighted a lack of local infrastructure opportunities that is driving them to look offshore as their jointly owned fund manager IFM Investors spent $7.2 billion buying a US toll road out of bankruptcy. In its biggest equity investment to date, IFM Investors paid out banks and hedge funds that controlled the [...]

Timor considers buying Sunrise

Posted on 13 March 2015

Timor-Leste Petroleum and Mineral Resources Minister Alfredo Pires said its national oil company, Timor Gap, could be used to buy out Woodside or other Sunrise joint venture partners such as Royal Dutch Shell or ConocoPhillips to end the development stalemate.

Abu Dhabi’s SWF said to eye stake in VW financing arm

Posted on 13 March 2015

Volkswagen is in talks to sell a 50 percent stake in financing arm LeasePlan to a consortium including the Abu Dhabi Investment Authority, a source familiar with the plan said, as the carmaker cuts costs and refocuses its business.

China’s CIC Shifts Wealth Fund Focus to Emerging Markets

Posted on 12 March 2015

China’s $653 billion sovereign-wealth fund is looking to invest more in emerging markets, according to an infrastructure investing official at China Investment Corp. CIC, which has made several high profile investments in the U.S. and Europe in recent years, is targeting emerging countries where there is less competition, more opportunity to tap growth and a [...]

Temasek, Carmignac said in talks for ICICI insurance stake

Posted on 12 March 2015

ICICI Bank Ltd., India’s largest private-sector lender, is in talks to sell part of its stake in an insurance unit to Temasek Holdings Pte and Carmignac Gestion for about $300 million, people familiar with the matter said.

In European Infrastructure Boom, SWFs Navigate Minefields

Posted on 12 March 2015

Across Europe, sovereign wealth funds are financing much-needed infrastructure projects — and realizing big profits. But shifting regulations pose risks. In Spain, a huge infrastructure deal is close to completion. New York investment bank Morgan Stanley has put its Madrid-based natural gas distribution company Madrilena Red de Gas on the market for around [...]

Russia’s well for corporate bailouts appears to be running dry

Posted on 12 March 2015

Facing Western sanctions and low oil prices, Russian companies are lining up for subsidies from the government. But the demand for bailouts is quickly outstripping the supply of money, raising the prospect of an economic crisis here if the funds run out. “Quite a large number of companies have access to no other source of [...]

Investors rediscover appetite for Italian real estate stocks

Posted on 12 March 2015

Italian real estate stocks such as Prelios and Risanamento rallied on Wednesday to test new highs as investors warm to improving business prospects in a market battered by years of recession. In February Qatar’s sovereign wealth fund struck a deal that made it the sole owner of a prime real estate area in Milan worth [...]

City will look at reserve fund investment

Posted on 12 March 2015

City Hall is contemplating significant changes to how it invests up to $160 million in reserve funds related to utility infrastructure and energy exploration. On Tuesday the corporate services committee gave initial approval to negotiate a fund-management agreement with AIMCo, the Alberta government’s sovereign wealth fund that includes the Heritage Trust Fund and billions more [...]

Global finance faces $9 trillion stress test as dollar soars

Posted on 12 March 2015

The world is more dollarized today that any time in history, and therefore at the mercy of the US Federal Reserve as rates rise. You would not think it possible that an Asian sovereign wealth fund could run into trouble too, but Malaysia’s 1MDM state fund came close to default earlier this year after borrowing [...]

Offshore investors spend record $7bn in office purchases

Posted on 12 March 2015

Offshore investors spent a record $7 billion on Australian commercial office buildings last year, including Chinese companies buying more than $1bn of commercial property for the first time.

Are Sovereign Wealth Funds Key to Global Economic Recovery?

Posted on 11 March 2015

Sovereign wealth funds, a multiplicity of aggregate financial world investment groupings and investing opportunities comprise the huge amounts of excess monetary liquidity that have aggregated worldwide. While some are sponsored and/or backed by indigenous governments, they are primarily managed by financial experts, who constantly scan global tangible and intangible objectives, wherever they might exist.

SWFs’ Hedge Fund Portfolios Top Peers — With Room to Grow

Posted on 11 March 2015

Sovereign wealth funds allocate just a sliver of their assets to hedge funds, according to a major new survey. That’s still enough make them big-time industry investors. State-owned investors are stingy when doling out money to hedge funds, allocating far less on a percentage basis than public or private pensions. Even so, given their vast [...]

Norway SWF may pull investment from Bangladesh’s coal plant

Posted on 11 March 2015

Norway’s pension fund may withdraw investment from a coal plant to be built with Indian partner on the edge of Sundarbans mangrove forest, citing threat of severe environmental damage. The massive 1,320 megawatt Rampal thermal plant would sit on the edge of Sundarbans, the world’s largest mangrove forest, in Bangladesh.

We do not pay foreigners for nothing: Samruk Kazyna CEO

Posted on 11 March 2015

The Chief Executive Officer of Samruk Kazyna National Welfare Fund Umirzak Shukeyev has spoken about the wages of the foreigners employed at the Fund, Tengrinews reports. Samruk-Kazyna National Wealth Fund is a sovereign wealth fund and joint stock company in Kazakhstan which owns, either in whole or in part, many important companies in the country, [...]

Sovereign wealth funds bask in Japan’s rising sun

Posted on 11 March 2015

Some of the world’s largest institutional investors and sovereign wealth funds are flocking to Japan. In the latest big deal, Chinese sovereign wealth fund China Investment Corporation (CIC) reportedly splashed out about ¥140bn ($1.18bn) on Tokyo’s Meguro Gajoen complex, bought from Mori Trust, in a joint venture with LaSalle Investment Management. Foreign capital pumped ¥1trn [...]

US property yields lures Aussie super funds

Posted on 11 March 2015

Sunny skies and hula dancers aren’t the only things attracting foreigners to Hawaii. Add this to the list: one of the United States’ most valuable shopping centres. Mall giant General Growth Properties Inc. last week announced it had sold a 25 per cent stake in Honolulu’s Ala Moana Centre, the world’s largest open-air mall, for [...]

Oman, Brunei sovereign funds partner in aircraft leasing

Posted on 10 March 2015

Sovereign wealth funds from Oman and Brunei are partnering to establish an aircraft leasing firm with capital of 200 million rials ($520 million), the Omani fund said on Monday. Oman’s State General Reserve Fund (SGRF) is setting up the firm with Oman Brunei Investment Co (OBIC), which is itself a 50-50 venture between SGRF and [...]

Russia’s Well for Corporate Bailouts Appears to Be Running Dry

Posted on 10 March 2015

With the economy flailing, the Russian government set up a corporate bailout program last year, tapping one of the country’s sovereign wealth funds. Almost immediately, companies started applying. The state-owned oil giant Rosneft has requested $21.3 billion. Gazprom, the dominant natural gas player, has asked for $3.2 billion for a subsidiary.

IMF assumes Ukraine to get $15.4 billion from creditor talks

Posted on 10 March 2015

The International Monetary Fund’s bailout programme for Ukraine assumes Kiev will be able to get $15.4 billion from talks with its creditors, according to four sources familiar with the IMF’s documents. The assumption is necessary to ensure Ukraine’s sovereign debt can fall to 70 percent of gross domestic product by 2020, a level the IMF [...]

banner
banner
March 2015
M T W T F S S
« Feb    
 1
2345678
9101112131415
16171819202122
23242526272829
3031