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VRS - who has written 17989 posts on Opalesque Sovereign Wealth Funds Briefing.


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Abu Dhabi to shift $27B out of sovereign wealth fund

Posted on 04 February 2016

Abu Dhabi, facing huge budget deficits, will likely transfer as much as $27 billion out of its sovereign wealth fund – the Abu Dhabi Investment Authority – into the government treasury, according to a report by Fitch Ratings.

Abu Dhabi sovereign wealth fund assets to fall by 5% by end-2016 – Fitch

Posted on 04 February 2016

The Abu Dhabi Investment Authority (ADIA), one of the world’s largest sovereign wealth funds, is expected to see its assets decline by just over 5 percent this year as the UAE capital attempts to balance its books on the back of the oil price slide.

India wants to leverage NIIF equity to boost infrastructure

Posted on 04 February 2016

How much can Rs 20,000 crore be leveraged to raise more equity? Through an appropriate yet conservative structure, say experts, about 10 times or roughly Rs 2 lakh crore. Sprinkle it a bit thin, and it could be multiplied to over Rs 4 lakh crore. That is the kind of multiplier structure that the Narendra [...]

SOFAZ refuses to transfer its gold reserves into other assets

Posted on 04 February 2016

Azerbaijan’s state oil fund SOFAZ is not planning to transfer its gold reserves into other assets. SOFAZ buys gold not for the sake of purchase or other speculative purposes but for strategic purposes, the Fund told Report.

NIIF, Rusnano sign MoU to invest in high technology projects

Posted on 03 February 2016

India’s maiden sovereign wealth fund NIIF on Tuesday signed an agreement with Russia’s Rusnano OJSC to set up a fund that will invest in high technology projects in India. “NIIF signs MoU (Memorandum of Understanding) with Rusnano of Russia for setting up India-Russia High Technology Fund. NIIF fast taking shape,” economic affairs secretary Shaktikanta Das [...]

SWFs, pension funds keen to invest in NIIF

Posted on 03 February 2016

The sovereign wealth funds of Singapore, Canada, Russia and Qatar along with several pension funds are said to be keen on participating in the National Investment and Infrastructure Fund, underscoring the growing interest in India as an investment destination with the global economy facing new headwinds.

MBSB-Bank Muamalat merger talks aborted

Posted on 03 February 2016

Non-bank financial provider Malaysia Building Society Bhd (MBSB) has failed to strike a merger with Bank Muamalat Malaysia Bhd, its second botched merger attempt in recent times. Bank Muamalat is 70%-owned by DRB-Hicom, while Malaysia’s sovereign wealth fund Khazanah holds the remaining 30% interest.

Singapore seizes bank accounts linked to Malaysia sovereign wealth fund

Posted on 03 February 2016

The Singapore Commercial Affairs Department and the Monetary Authority of Singapore said Monday they have seized a “large number” of bank accounts linked to a money laundering investigation involving the Malaysia state investment fund 1MDB.

Malaysia’s 1MDB Scandal: Case Not Closed With Ongoing International Probes

Posted on 03 February 2016

Investigations abroad continue to haunt the nation’s premier despite efforts to downplay the scandal at home. On February 1, the Commercial Affairs Department (CAD) and Monetary Authority of Singapore (MAS) announced that they had seized a “large number” of bank accounts over possible money-laundering offenses tied to debt-ridden state investment fund 1 Malaysia Development Berhad [...]

Abu Dhabi to Siphon Billions From ADIA for Debt, Fitch Predicts

Posted on 03 February 2016

Abu Dhabi Investment Authority’s assets will probably fall by billions of dollars by the end of this year as the emirate’s government taps its sovereign-wealth fund to bridge a deficit brought on by low petroleum prices, Fitch Ratings Ltd. said.

Sovereign Wealth Funds Showing Interests In Nigeria’s $25bn Infrastructural Fund

Posted on 03 February 2016

The Federal Government’s plan to raise a $25 billion Infrastructural Fund from the global community and establish long term bankable projects is gaining traction, Vice President, Prof. Yemi Osinbajo, has said.“We have seen considerable favorable interests from some sovereign wealth funds and other nations,” the VP said.

Will There Be Another Sovereign Wealth Selloff Wave?

Posted on 03 February 2016

Macroeconomists, asset manager CEOs, market pundits and media commentators expressed concern about wealth funds and their current impact on global equity markets. However, the selling by commodity-based funds, specifically in the wealthy GCC region, started in the midst of 2015. Funds such as Mubadala Development Co and the Qatar Investment Authority (QIA) were [...]

Sovereign funds drive turbulent trading

Posted on 03 February 2016

Oil-rich Kazakhstan has raided its SWF. Asset managers have blamed outflows from sovereign wealth funds for one of the worst starts to the year for markets. The collapse in the price of oil resulted in state-backed investment vehicles becoming “forced sellers”.

Sovereign wealth funds drive turbulent trading

Posted on 02 February 2016

Asset managers have blamed outflows from sovereign wealth funds for one of the worst starts to the year for markets. The collapse in the price of oil resulted in state-backed investment vehicles becoming “forced sellers”. The year began with a sharp drop in equity markets. UK and US stocks fell almost 10 per cent in [...]

10 things you probably don’t know about sovereign wealth funds

Posted on 02 February 2016

Sovereign wealth funds are massive investment vehicles with trillions of dollars in assets. However, these wealth giants are little known and less understood than other types of investments vehicles.

Selling By Sovereign Wealth Funds is a Huge Headwind for Stocks

Posted on 02 February 2016

Market watchers continue to voice concern about sovereign wealth funds and their potential to impact global equity markets in 2016. SWFs, government-owned investment pools, sopped up petrodollars when oil prices were north of $100 a barrel. In turn, this money was pumped money into funds run by the world’s biggest asset managers.

Future Fund develops teams to match complex markets

Posted on 02 February 2016

The Future Fund is focusing on building its internal capabilities to better handle increasing complexities in financial markets. Hiring has gone ahead across the organisation to ensure its investment functions are resourced to be nimble in identifying and taking up opportunities in niche areas (reflecting the competition for good investment opportunities) and in support functions, [...]

Future Fund of Australia allocated $100m+ to ILS in 2015

Posted on 02 February 2016

Australia’s sovereign wealth investment organisation The Future Fund made a $100m+ allocation to insurance-linked securities (ILS), such as catastrophe bonds and collateralized reinsurance, through its mandate with Elementum Advisors in 2015.

Singapore seizes bank accounts as part of 1MDB probe

Posted on 02 February 2016

Singapore has seized a large number of bank accounts in recent months as part of an investigation into possible money-laundering linked to Malaysian state investment fund 1Malaysia Development Berhad (1MDB), authorities said on Monday.

Norway wealth fund aims to keep outpacing global markets, chief says

Posted on 02 February 2016

Norway’s $810-billion sovereign wealth fund, the world’s largest, will continue its bid to outperform global markets despite the added risks involved, the central bank official supervising the fund told Reuters.

Analysis: Norway’s Government Pension Fund Global

Posted on 02 February 2016

A greater focus on real assets through the introduction of an unlisted infrastructure portfolio, and the expansion of the real estate exposure of Norway’s NOK7.1trn (€733bn) sovereign wealth fund, could soon bring to an end one of the great certainties among asset owners – the Government Pension Fund Global’s stable, almost static asset allocation.

Niam raises EUR800m for opportunistic Nordic real estate fund

Posted on 02 February 2016

Nordic investment manager Niam has raised €800m ($870m) for its latest opportunity fund. The Stockholm-based private equity firm completed the final close for its sixth opportunistic property fund, Niam Nordic VI.

Iran’s $100 billion ‘fully released’

Posted on 02 February 2016

The government says Iran can now access more than $100 billion in frozen assets after the implementation of a nuclear agreement last month. “These assets have fully been released and we can use them,” Government spokesman Mohammad-Baqer Nobakht said.

Sovereign wealth funds sell stocks

Posted on 02 February 2016

With tax revenues plunging in oil-producing countries, some asset managers are putting part of the blame for January’s stock selloff at the foot of sovereign wealth funds - forced to sell equities to make up government budget shortfalls.

China wealth fund eyes Thai stake

Posted on 01 February 2016

China has expressed interest in investing in the Thailand Future Fund (TFF), according to Finance Minister Apisak Tantivorawong. The interest comes from the China Investment Corporation (CIC), a sovereign wealth fund responsible for managing part of China’s foreign exchange reserves.

NZ Super Fund keeps $200mn reinsurance allocation stable in 2015

Posted on 01 February 2016

The New Zealand Super Fund kept its reinsurance allocation steady at about $200mn in the financial year to 30 June 2015. The sovereign wealth fund yesterday (27 January) reported a 6.5 percent gain over the 2015 calendar year, taking its total portfolio to NZ$29.5bn ($19.2bn).

Malaysia PM haunted by $4bn wealth fund inquiry

Posted on 01 February 2016

The financial scandal engulfing Najib Razak, Malaysia’s prime minister, flared up after the Swiss authorities said that they were investigating the alleged embezzlement of $4 billion (£2.8 billion) from a state company he set up.

Switzerland names the companies ‘linked to 1MDB scandal’

Posted on 01 February 2016

The Swiss attorney general’s announcement that $4 billion may have been misappropriated from Malaysian state-owned companies opened a new front in the troubles facing 1Malaysia Development Bhd., or 1MDB, the state-investment fund set up by Prime Minister Najib Razak in 2009. Switzerland’s top prosecutor on Friday named a number of firms in Malaysia, Saudi Arabia [...]

Switzerland Investigates Into Alleged Violations of Law by Malaysian Fund

Posted on 01 February 2016

Switzerland’s chief prosecutor asked Malaysian authorities for legal assistance in its investigation into possible violations of Swiss law by 1Malaysia Development Berhad (1MDB) wealth fund, prosecutor’s office said in a statement.

Swiss Question Use of Malaysian Sovereign Fund Run by Prime Minister

Posted on 01 February 2016

Days after the prime minister of Malaysia was cleared of wrongdoing in an investigation into transfers of money into his bank accounts, the Swiss government announced Friday that it had found serious indications that funds had been misappropriated from Malaysian state-owned companies.

Petrobras in sovereign fund’s spotlight on corruption fears

Posted on 01 February 2016

The world’s biggest sovereign wealth fund, Norway’s state pension fund, said Thursday it had placed Brazilian oil group Petrobras “under observation” because of corruption fears following a kickbacks scandal. The move means that the ethics council that advises the Norwegian central bank on the fund’s investments will follow developments closely, which could lead to the [...]

Kazakh large fund’s new staff approved

Posted on 01 February 2016

The new staff of the board of the Kazakh Sovereign Wealth Fund Samruk-Kazyna joint-stock company has been approved, the Samruk-Kazyna Corporate Communications Department said Jan. 29. Umirzak Shukeyev retained his post of the chairman of the board. Kaur Baljeet was appointed managing director of strategy and portfolio management.

Norway’s wealth fund may invest in emerging economies

Posted on 01 February 2016

Norway’s lawmakers are expected to grant the country’s $800 billion sovereign wealth fund a broader investment brief to better spread risk, the leader of the parliamentary finance committee said.

Norway’s parliament to back broader investment brief for wealth fund

Posted on 01 February 2016

Norway’s lawmakers are expected to grant the country’s $800 billion sovereign wealth fund a broader investment brief to better spread risk, the leader of the parliamentary finance committee said.

Arabian Gulf funds find Europe’s finest hotels still attractive as ever

Posted on 01 February 2016

Despite the tumbling prices of oil, sovereign wealth funds from the UAE, Qatar and Kuwait are continuing to pour billions of dirhams’ worth of investment into some of Europe’s finest ­hotels. About US$5.2 billion of cash from Middle East investors has found its way into hotels in the United Kingdom and mainland Europe over the [...]

GCC Economic Council for managing sovereign funds

Posted on 01 February 2016

Many questions have been raised about the proper way to overcome the current economic crisis caused by the oil price decline in the global market. Each country in the GCC is presenting a solution that appears suitable, amid the absence of a unified strategy to help the organization as a whole, not only to surpass [...]

Oil prices & the impact on Sovereign Wealth Funds - Libya as a case

Posted on 01 February 2016

The drop in oil prices in the last 12 months has taken markets and investors by surprise. State institutions such as Sovereign Wealth Funds (SWF) have been affected and state budgets have suffered. SWF will grow slowly and in many cases will see some of their assets declining in value or being liquidated to help [...]

Dividend has a better future outside of the Alaska Permanent Fund

Posted on 01 February 2016

“The budget, the budget and the budget.” That’s how my colleague — Sen. Click Bishop — outlined the Alaska Legislature’s top three priories this year, and it’s easy to see why. Seventy-five percent of the state’s unrestricted general fund revenue comes from oil, a commodity whose price has seen a rapid drop from $105 per [...]

Norway’s oil fund wary of corruption in Brazil firm

Posted on 29 January 2016

Norway’s state pension fund, the world’s biggest sovereign wealth fund, said on Thursday it had placed Brazilian oil group Petrobras “under observation” because of corruption fears following a kickbacks scandal. The move means that the ethics council that advises the Norwegian central bank on the fund’s investments will follow developments closely, which could lead to [...]

Norway wealth fund’s ethics watchdog probing 14 corruption cases

Posted on 29 January 2016

The ethics watchdog for Norway’s $800 billion sovereign wealth fund, the world’s largest, is stepping up its scrutiny of companies the fund invests in to make sure they are not involved in corruption, an official at the watchdog told Reuters.

Norway accepts hostile takeover by Vonovia

Posted on 29 January 2016

Norway said its $800billion sovereign wealth fund has accepted Vonovia’s hostile takeover bid for rival Deutsche Wohen. The fund holds 4.6% of the shares in Vonovia and 6.9% in Deutsche Wohen.

Norway’s oil wealth is an enviable nest egg in hard times

Posted on 29 January 2016

When times get tough, it never hurts to have €700bn stashed away like Norway does in the world’s biggest sovereign wealth fund, to cushion the blow of plunging oil prices. Oslo has prudently tucked away most of its oil money since the 1990s in order to be able to finance its generous welfare state indefinitely.

Should you follow the Future Fund into cash?

Posted on 29 January 2016

At the Future Fund’s quarterly portfolio update, the fund’s chairman and founder Peter Costello expressed his pride that the fund had been recognised by the Central Banking Journal as the sovereign investor of the year.

China sovereign wealth fund joins $6.3 bln bid for Australia’s Asciano

Posted on 29 January 2016

Australian port operator Qube Holdings Ltd said on Thursday a Chinese sovereign wealth fund was taking part in its A$8.9 billion ($6.3 billion) bid for rail giant Asciano Ltd, potentially complicating regulatory approval amid a political backlash against Chinese investors.

Australia-led group bids $6.3bn for logistics firm Asciano

Posted on 29 January 2016

An Australian-led consortium including a Chinese sovereign wealth fund bid US$6.30 billion for ports and rail operator Asciano Thursday, kicking off a bidding war with a Canadian asset manager.

Are sovereign wealth funds big sellers in Indian stocks?

Posted on 29 January 2016

Are sovereign wealth funds (SWFs) big sellers in Indian stocks? The conventional answer to that question is a yes, but data points to another intriguing trend — the rising share of direct sovereign fund investments in India. Assets under management (AUM) of SWFs in Indian equities climbed 14% to Rs 1.74 lakh crore in December [...]

Govt does not monitor Temasek, GIC’s investments in haze-linked firms: MOF

Posted on 29 January 2016

Mr Heng Swee Keat, Singapore’s Finance Minister, says that commercial decisions by GIC and Temasek Holdings are made independent of state involvement. The Government only monitors the performance of haze-linked companies that sovereign wealth fund GIC and investment firm Temasek Holdings have investments in, said finance minister Heng Swee Keat, and not their commercial decisions.

SAMA’s net foreign assets reach SR2.283 trillion

Posted on 29 January 2016

Net foreign assets at Saudi Arabian Monetary Agency (SAMA) declined 3.1 percent in December from the previous month to SR2.283 trillion ($609 billion), the central bank announced. Assets dropped 15.9 percent from a year earlier to their lowest level since August 2012. They reached a record high of $737 billion in August 2014 before starting [...]

Sainsbury’s likely to find support from Qatar Investment Authority for Home Retail Group bid

Posted on 29 January 2016

Qatar Investment Authority (QIA), which holds a 25% stake in Sainsbury’s, is believed to have backed the supermarket chain it revises its offer for the Home Retail Group acquisition. This backing from QIA seen as significant is important as the takeover process has to complete before 2 February, reported The Times newspaper.

Sovereign Funds Vs. Asset Managers: The Big Picture

Posted on 29 January 2016

A number of asset managers who focus on institutional investors such as commodity-based sovereign wealth funds have been ravaged with redemptions. The rapid descent of oil prices flummoxed wealth fund chiefs. In response to the oil glut, the money management spigot for investment managers running listed equity strategies has slowed.

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