Sat, Oct 1, 2016
A A A
Welcome mteam
RSS

Author Archives | VRS

VRS - who has written 19515 posts on Opalesque Sovereign Wealth Funds Briefing.


Contact the author

Azerbaijani banks buy over $60M from State Oil Fund

Posted on 23 September 2016

The State Oil Fund of Azerbaijan (SOFAZ) sold $61.4 million to 19 banks through an auction held by the Central Bank of Azerbaijan (CBA) Sept. 22, SOFAZ said in a message on September 22.

Oil Fund and Central Bank of Azerbaijan created currency oversupply

Posted on 23 September 2016

The State Oil Fund (SOFAZ) and the Central Bank have created the currency oversupply during its centralized sale of foreign currency to banks. SOFAZ reports that today the Central Bank (CBA) has held the next foreign exchange auction.

Alaska Permanent Fund board rejects idea of investing in oil-tax credits

Posted on 23 September 2016

The corporation that manages the $54 billion Alaska Permanent Fund is rejecting a proposal from the Walker administration to invest in the oil and gas tax credits issued by the state. The corporation does not view the idea as “an attractive investment opportunity,” said Paulyn Swanson, communications manager for the Alaska Permanent Fund Corp., in [...]

1MDB: Swiss Citizen Denied Return

Posted on 23 September 2016

Switzerland’s Xavier Justo was the man who dragged the scandal surrounding Malaysia’s state fund 1MDB into the limelight. He was convicted for attempted extortion and sent to prison in Thailand. The country has now rejected an extradition request by the Swiss authorities.

Swiss regret decision not to extradite 1MDB witness

Posted on 23 September 2016

Switzerland said it regrets a decision by Thai authorities not to extradite Swiss national Xavier Justo, a possible key witness in the global money-laundering probe linked to Malaysian state fund 1Malaysia Development Berhad (1MDB).

With Kleptocrats Untouchable, America Goes Big on Another Strategy: Taking Their Stuff Instead

Posted on 23 September 2016

Accused of involvement in stealing billions from Malaysia’s sovereign wealth fund, Prime Minister Najib Razak did what autocratic leaders around the world do when scandal is in the air. He cleared house. In the space of a day last July, he fired his deputy prime minister and attorney general and sidelined members of a parliamentary [...]

Robert De Niro doesn’t ‘give a s—-’ about Malaysian corruption scandal

Posted on 23 September 2016

Robert De Niro is unconcerned after being linked to a Malaysian corruption scandal. Back in July, the U.S. Department of Justice filed to seize the assets of a Malaysian sovereign wealth fund called 1MDB, set up by the country’s Prime Minister Najib Razak. It is claimed more than $1 billion was embezzled and misappropriated from [...]

Senator files suit against Governor’s veto of half of Permanent Fund Dividend

Posted on 23 September 2016

On Friday, September 16, Alaska senator Bill Wielechowski filed a lawsuit contesting Governor Bill Walker’s veto of half of the funding for the Permanent Fund Dividend.

Kazakh wealth fund says 34 firms sold in privatisation drive

Posted on 22 September 2016

Kazakhstan’s $65 billion sovereign wealth fund Samruk-Kazyna has sold 34 small and mid-sized companies by public auction as part of its privatisation drive, a managing director of the fund said on Wednesday.

Fall in global equities sees NZ Super Fund record worst performance since 2012

Posted on 22 September 2016

A fall in global equities has seen the annual return of the NZ Super Fund fall to its lowest level since 2012. The sovereign wealth fund, established to help cover New Zealand’s retirement costs, said on Wednesday that a drop in the June month meant its value stood at $30.1 billion at June 30, an [...]

New Zealand Super reports 1.89% gain for financial year

Posted on 22 September 2016

New Zealand Superannuation Fund reported a 1.89% investment gain for its financial year ended June 30, lifting the value of its portfolio to NZ$30.1 billion ($21.4 billion). In a news release Thursday, New Zealand Super said strong gains by the Auckland-based sovereign wealth fund’s active investments in timber and infrastructure helped it outperform its passive [...]

Julius Baer Responds to DiCaprio, 1MDB Questions

Posted on 22 September 2016

Swiss private bank Julius Baer responded to questions over its links to actor-environmentalist Leonardo DiCaprio, who has been criticized over his ties to representatives of Malaysia’s 1MDB fund.

Papua New Guinea: Manage SWF well, economist says

Posted on 22 September 2016

Economist Paul Barker says a Sovereign Wealth Fund (SWF) is only valuable if and when it operates to the highest standard of performance and accountability to the people. Barker, the executive director of the Institute of National Affairs, said this was to avoid poor management and governance as had been the case of major State [...]

A mountain of cash: How Norway spends its $882 billion global fund

Posted on 22 September 2016

It’s tough for a small democracy to run the world’s biggest sovereign-wealth fund. Two decades after Norway’s government paid a first deposit into its sovereign-wealth fund, the country is learning how to manage a behemoth.

SOFAZ hosts CROSAPF Annual Summit 2016

Posted on 22 September 2016

The State Oil Fund of the Republic of Azerbaijan (SOFAZ) hosts the third Annual Summit of the Co-Investment Roundtable of Sovereign and Pension Funds (CROSAPF) at the Four Seasons Hotel in Baku, on September 20-21, 2016.

Angolan sovereign wealth fund releases Q1 results

Posted on 22 September 2016

The Fundo Soberano de Angola (FSDEA), Angola’s sovereign wealth fund, released its first quarter investment update for 2016, showing total assets of $4.56 billion. FSDEA Chairman José Filomeno dos Santos said that as of 31 March 2016, the Fund had approximately 60 per cent of its portfolio allocated in private equity funds dedicated to both [...]

LIA recovers $53.8 million from Cornhill Capital, $73 million from Lehman bankruptcy

Posted on 22 September 2016

The Tripoli-based Libyan Investment Authority (LIA) has successfully recovered $53.8 million from Cornhill Capital Limited after three years of battle. The LIA said in a statement on Tuesday that the fundamental factor in the issue was Cornhill Capital’s reliance on international sanctions imposed against some of the assets of the LIA.

How Norway spends its $882 billion global fund

Posted on 21 September 2016

It’s tough for a small democracy to run the world’s biggest sovereign-wealth fund. Two decades after Norway’s government paid a first deposit into its sovereign-wealth fund, the country is learning how to manage a behemoth. The vehicle, which is used to invest abroad the proceeds of Norway’s oil and gas sales, has amassed a bigger [...]

Azerbaijani banks buy over $70M from State Oil Fund

Posted on 21 September 2016

The State Oil Fund of Azerbaijan (SOFAZ) sold $72.4 million to 20 banks through an auction held by the Central Bank of Azerbaijan (CBA) Sept. 20, SOFAZ said in a message. As much as $100 million was put up for the auction.

Oil Fund sells less than half of its application through Central Bank’s auction

Posted on 21 September 2016

The State Oil Fund (SOFAZ) and the Central Bank continue centralized sale of foreign currency to banks. SOFAZ reports that today the Central Bank (CBA) has held the next foreign exchange auction.

Fall in global equities sees NZ Super Fund record worst performance since 2012

Posted on 21 September 2016

A fall in global equities has seen the annual return of the NZ Super Fund fall to its lowest level since 2012. The sovereign wealth fund, established to help cover New Zealand’s retirement costs, said on Wednesday that a drop in the June month meant its value stood at $30.1 billion at June 30, an [...]

These Difficult Investment Conditions Can Stretch For The Next 10 Years

Posted on 21 September 2016

The words in the title of this article are an exact quote from Lim Chow Kiat, the deputy group president and group chief investment officer of GIC, one of Singapore’s sovereign wealth funds.

HKMA to add cyber security, anti-money laundering knowledge to bankers’ certification

Posted on 21 September 2016

Starting in December, new programmes will be added to the HKMA’s Enhanced Competency Framework (ECF) for local bankers. The Hong Kong Monetary Authority said it will require bankers operating in the city to be trained and certified to deal with cyber security and money laundering, beefing up its regulations to prepare for competition with Singapore [...]

Chinese fund takes 20% of $7.3bn Melbourne port

Posted on 21 September 2016

The Australian state of Victoria has leased the port of Melbourne for $7.3bn (A$9.7bn) to a consortium led by the Queensland Investment Corporation (QIC), which also includes a Chinese sovereign wealth fund.

Thailand rejects Swiss request to hand over jailed 1MDB witness

Posted on 21 September 2016

Decision to hold Xavier Justo follows visit by Malaysian PM, who is embroiled in scandal over fund. An important potential witness in the scandal over the alleged looting of Malaysia’s 1MDB investment fund is at the centre of a diplomatic row after Thailand refused a request to move him from jail to his native Switzerland.

Unesco holds back award for Malaysia PM’s wife amid 1MDB fallout

Posted on 21 September 2016

Honour for Rosmah Mansor on hold in sign of growing international impact of graft scandal. Unesco has postponed an award it planned to give to Rosmah Mansor, the Malaysian prime minister’s wife, at the last minute in a sign of the growing international fallout from a corruption scandal engulfing the country’s leaders.

The sovereign wealth fund

Posted on 21 September 2016

The sovereign wealth funds are the national investments many countries have made for their future generations. Some of these funds are huge, as seen by the figures presented in the next paragraph. The sovereign wealth funds have huge clout internationally – whether economic or geopolitical. Collectively or singularly, they can move markets, destabilise currencies or [...]

Libyan Investment Authority successfully recovers $126.8 million from Cornhill Capital and the Lehman bankruptcy

Posted on 21 September 2016

The Libyan Investment Authority (LIA), under the chairmanship of Mr AbdulMagid Breish, has now after a three year battle successfully recovered $53.8 million that had been managed by Cornhill Capital.

Mubadala said to mull redistribution of $2bn portfolio

Posted on 21 September 2016

Abu Dhabi sovereign wealth fund Mubadala is considering re-distributing some of its $2bn worth of investments to another vehicle as part of the creation of an investment fund, according to Bloomberg.

Angolan sovereign fund targets 8 pct return with farm investments

Posted on 20 September 2016

Angola’s sovereign wealth fund has started investing in local state-owned farms to make them commercially viable for producing and exporting soft commodities, the fund’s chairman Jose Filomeno dos Santos said on Monday.

CIC, Korea’s National Pension Service pitch in for port

Posted on 20 September 2016

China’s mammoth sovereign wealth fund, CIC, and South Korea’s National Pension Service have emerged as secondary investors in the $9.7 billion Port of Melbourne sale, underscoring the weight of international demand for top-tier Australian infrastructure despite mounting anti-foreign investment curbs from the federal government.

Future Fund, others buy Port of Melbourne

Posted on 20 September 2016

The Future Fund, Queensland Investment Corporation and one of China’s biggest sovereign wealth funds have snapped up the Port of Melbourne for a whopping $9.7 billion.

GIC looks to buy Blackstone’s Australian retirement village owner

Posted on 20 September 2016

GIC is believed to be looking to acquire an Australian retirement village owner, National Lifestyle Villages, owned by Blackstone. Singapore’s sovereign wealth fund is understood to be attracted by the asset’s steady income stream, estimated at about AUD200m (€135m) annually.

Banking crisis brewing in China but Temasek confident

Posted on 20 September 2016

BBC reported that the Bank for International Settlements (BIS), the global banking watchdog, is concerned about the mounting risks of a Chinese banking crisis. BIS monitors the international flow of money and credit.

Temasek among suitors for Learfield

Posted on 20 September 2016

Temasek Holdings Pte, the Singaporean state-owned investment group, is among the bidders for Learfield Communications Inc, according ot people familiar with the matter.

SOFAZ invests in EBRD debut fund

Posted on 20 September 2016

The State Oil Fund of Azerbaijan (SOFAZ), which bears responsibility for accumulating and managing oil and gas revenues of the country, is planning to invest some €100 million in the Equity Participation Fund (EPF), a debut fund managed by the European Bank for Reconstruction and Development (EBRD).

SWFs commit capital to central and eastern Europe

Posted on 20 September 2016

Sovereign wealth funds have become the first institutional investors to commit capital to a new direct equity venture by the European Bank for Reconstruction and Development targeting emerging markets.

Oman fund to invest in India’s power sector

Posted on 20 September 2016

Oman’s State General Reserve Fund (SGRF), a sovereign wealth fund, plans to support a joint venture that aims to facilitate investment in India’s power sector, a report said. SGRF will join Canada-based La Caisse de dépôt et placement du Québec (CDPQ), a leading institutional fund manager and Kuwait Investment Authority (KIA), a sovereign wealth fund [...]

Nigeria Wasted $62bn Foreign Reserves

Posted on 20 September 2016

The governor of Central Bank of Nigeria, Godwin Emefiele, on Sunday explained how Nigerian frittered the foreign exchange it earned from sale of crude oil away on frivolities at a time the commodity was selling above $100 per barrel.

Wyoming considers changes in investment strategy

Posted on 20 September 2016

As Wyoming turns over financial rocks looking to ease its budgetary shortfall, the Legislature and state Treasurer’s office have focused their attention on the crown jewel of the state’s revenue system: the Permanent Wyoming Mineral Trust Fund.

CIC Said to Review Options for Engie Exploration Stake Amid Sale

Posted on 16 September 2016

Sovereign fund China Investment Corp. is reviewing options for its 30 percent stake in Engie SA’s exploration business as the French utility pushes ahead with a sale, according to people familiar with the matter.

Kuwait’s budget forecast to swing back to surplus by 2019

Posted on 16 September 2016

Kuwait will post only temporary fiscal deficits, and the budget balance will turn back to surpluses by 2019, on the back of recovering oil prices, according to a new report by BMI Research, a Fitch company. Kuwait will implement only limited reforms because its parliament will block many of the government’s targeted cuts while very [...]

Oman wealth fund joins initiative to invest in India’s power sector

Posted on 16 September 2016

The State General Reserve Fund (SGRF), a sovereign wealth fund of the Sultanate of Oman, is part of a trio of globally renowned investors that are backing a ‘platform company’ set up to facilitate investment in India’s booming power sector. The platform company has been jointly launched by Tata Power, India’s largest integrated power company, [...]

ADIA puts Edinburgh’s Saltire Court up for sale

Posted on 16 September 2016

Abu Dhabi Investment Authority has put Saltire Court in Edinburgh up for sale for £69m – a 6.54% yield. The Middle Eastern sovereign wealth fund’s asset manager, Aberdeen Asset Management, has appointed Cushman & Wakefield to market the 180,000 sq ft office building.

Blackrock to sue VW over emissions scandal

Posted on 16 September 2016

Asset manager Blackrock and a group of institutional shareholders are to sue car maker Volkswagen for €2bn (£1.7bn) over its emissions scandal. Investors, including sovereign wealth funds and pension funds, are expected to file a complaint in a court in Braunschweig, Germany, on Friday.

World’s largest sovereign fund acquires $453 million worth of San Francisco real estate

Posted on 16 September 2016

Norway’s Norges Bank Real Estate Management, known for having the world’s largest sovereign fund at $888 billion, is in the midst of acquiring $453 million worth of San Francisco real estate. It’s investing the money in two office properties in the city, and will ultimately have a 44 percent common equity interest in the buildings.

Now Indonesia has a sovereign wealth fund – and it won’t be the last

Posted on 15 September 2016

Sovereign wealth funds (SWFs) are large state owned investment funds. With assets under management of about US $7trillion globally, SWFs have become key players in international finance – even surpassing the combined size of global hedge funds and private equity firms.

Libya sovereign fund denies handover rumours

Posted on 15 September 2016

AbdulMagid Breish, the chairman of LIA Tripoli, and Fawzi Farkash, the newly-appointed Chairman of the Tobruk-based LIA has denied veracity of the reports that a steering committee has taken over responsibility for managing the LIA following a handover process. In a joint statement, they confirmed that these reports are “completely false”:

Tottenham Hotspur open talks with Qatar Investment Authority over stadium naming-rights deal

Posted on 15 September 2016

Tottenham Hotspur have reportedly entered into negotiations with the Qatar Investment Authority (QIA) over a naming-rights deal for the redeveloped White Hart Lane. The North London club are looking to secure a big-name partner for their new stadium, which is set to open at the start of the 2018-19 season.

Qatar linked with $198m sponsorship deal for Tottenham Hotspur stadium

Posted on 15 September 2016

Qatar Investment Authority has been linked with a possible sponsorship deal with Premier League club Tottenham Hotspur regarding naming rights for club’s stadium. The north London club is currently redeveloping its famed White Hart Lane ground, which will open for the start of the 2018-19 season.

banner
banner
banner
banner
October 2016
M T W T F S S
« Sep    
 12
3456789
10111213141516
17181920212223
24252627282930
31