Tue, Apr 28, 2015
A A A
Welcome asarmad
RSS

Author Archives | VRS

VRS - who has written 16155 posts on Opalesque Sovereign Wealth Funds Briefing.


Contact the author

Norwegian oil fund adopts ‘broad criteria’ for climate change exclusion

Posted on 13 April 2015

Norway’s sovereign wealth fund is to introduce a criteria-based exclusion policy to divest from companies that make an “unacceptable” contribution to greenhouse gas emissions, the government has announced. Adopting the recommendations of a report and consultation, the Norwegian Finance Ministry said the exclusion policy would work alongside a strengthening of its engagement.

New bank will not enhance China’s global power at America’s expense

Posted on 13 April 2015

When China set up its sovereign-wealth fund in 2007, many feared that it would take control of strategic resources, acquire sensitive technology and disrupt global financial markets. But the China Investment Corporation, which controlled US$575 billion (S$787 billion) last year, has been struggling with losses, partly because of mismanagement, according to China’s National Audit Office.

Aviation Commission must report to Parliament, not PM, says PKR

Posted on 13 April 2015

The newly created Aviation Commission must report to Parliament for scrutiny and public safety, and not the prime minister who is already tainted by his links to debt-laden sovereign wealth fund 1Malaysia Development Bhd (1MDB), PKR said today.

The 1MDB: Tragedy or farce?

Posted on 13 April 2015

The Malaysian government’s ambitious investment experiment, 1Malaysia Development Bhd (1MDB), has turned into a political and financial minefield for Prime Minister Datuk Seri Najib Razak and his ministers. In recent months, the debt-laden sovereign wealth fund has made domestic and international headlines with explosive allegations of corruption, widespread mismanagement of public funds, serious political misbehaviour [...]

Spotify to be worth $8.4bn after fundraising

Posted on 13 April 2015

Goldman Sachs and Abu Dhabi’s sovereign wealth fund have agreed to invest in Spotify, according to reports. Spotify is nearing a deal to raise $400m (£273m), valuing the music streaming service provider at $8.4bn, according to reports.

SGRF joins sovereign wealth fund forum

Posted on 13 April 2015

The State General Reserve Fund (SGRF) has joined the International Forum of Sovereign Wealth Funds (IFSWF) with full membership, after being a permanent observer since the forum’s inception. Founded in 2009, IFSWF is a voluntary group of sovereign wealth funds (SWFs) which meets to exchange views on issues of common interest and to facilitate [...]

Much more sovereign wealth could be headed to NYC real estate

Posted on 13 April 2015

Sovereign wealth funds made quite a splash in Manhattan real estate in 2014, with north of $2 billion in deals. But that may only be the beginning. A growing number of government funds are looking to increase their investments in real estate worldwide, according to new data by research firm Preqin exclusively reviewed by The [...]

Preqin: Sovereign wealth fund assets rise 17% in 18 months to $6.3 trillion

Posted on 13 April 2015

Aggregate assets managed by a universe of 73 sovereign wealth funds increased 17% to $6.3 trillion as of March 31, up from $5.4 trillion at the start of October 2013, the last time researcher Preqin reviewed this part of the asset owner industry.

59% Of Sovereign Wealth Funds Increase Assets In 2014, Despite Sharp Drop In Oil Prices

Posted on 10 April 2015

Assets under management for sovereign wealth funds globally reach $6.31tn as of March 2015, increasing by more than $900bn over the past 18 months. The majority of sovereign wealth funds globally have increased their assets under management over the course of 2014. This is despite falling commodity and oil prices, which many of these institutions [...]

Why Sovereign Wealth Funds Should Not Invest at Home

Posted on 10 April 2015

A SWF is a type of extra-budgetary fund that operates outside the annual government budget process. SWFs have traditionally been created for a macroeconomic objective (e.g., fiscal stabilization), or to save for future generations. All invest at least partly in foreign assets.

3 Large Sovereign Fund Cross-Border Bids Shaping the Industry

Posted on 10 April 2015

Bidders are quietly lining up as Australia’s New South Wales (NSW) government pushes forward on a plan selling leases on select infrastructure. NSW Premier Michael “Mike” Baird won a late March election, giving him a mandate to move forward with the lease sales. Essentially, the state government seeks to lease A$ 20 billion [...]

Temasek among investors in Dianping’s $850m funding round

Posted on 10 April 2015

Singapore state investment fund Temasek Holdings Pte Ltd is among several investor that participated Chinese restaurant-review and group-buying services app Dianping Holdings Ltd’s latest $800 million funding round, a report said. The Wall Street Journal in a recent report said Shanghai-based startup Dianping had raised $850 million from a group of investors including smartphone maker [...]

Malaysia’s i-VCAP aims to double AUM to $550m in two years

Posted on 10 April 2015

Sovereign wealth fund unit i-VCAP Management Sdn Bhd is targeting to double its assets under management (AUM) to over MYR2 billion ($550 million) in the next two years. i-VCAP has MYR1.1 billion assets under management, around MYR350 million of which is contributed by the exchange-traded funds (ETF).

Indonesia’s Bumi to post 2014 results by next week - director

Posted on 10 April 2015

Indonesia’s largest coal producer PT Bumi Resources Tbk aims to release its 2014 financial results by next week after it confirms how much it owes to several creditors, a company director said on Thursday. Bumi could not report its results for the full year ended December yet as it was “still waiting for debt confirmation [...]

Investment Corporation of Dubai takes stake in luxury US and South African hotels

Posted on 10 April 2015

Investment Corporation of Dubai, the emirate’s main investment vehicle, has strengthened its presence in the global hospitality business with the acquisition of stakes in three luxury hotels. ICD has purchased the W Hotel in Washington DC, a majority holding in the Mandarin Oriental in New York, and a minority in the One & Only resort [...]

Qatar lends Palestinian gov’t $100 million to pay salaries

Posted on 10 April 2015

The Palestinian Authority said it had received a $100 million loan from Qatar to help pay civil servants salaries and alleviate an economic crisis triggered by a row with Israel over taxes. President Mahmoud Abbas, who is visiting the Gulf state, issued a statement thanking Qatar for the loan. There was no immediate confirmation or [...]

Norway central bank to continue buying Kroner for oil fund

Posted on 10 April 2015

Norway’s central bank said it would continue to buy Norwegian kroner and sell foreign exchange in the market in November on behalf of the country’s sovereign-wealth fund. As in October, Norges Bank said it would sell the equivalent of 250 million Norwegian kroner ($37.2 million) a day in foreign exchange over the coming month and [...]

Do sovereign wealth funds make sense for Africa?

Posted on 09 April 2015

Sovereign wealth funds seem to be the new must-have accessory for African governments—especially those with freshly discovered oil and gas reserves. In the past three years Angola, Ghana and Nigeria have all set up funds. A string of other countries including Kenya, Liberia, Mozambique and Tanzania are planning to follow suit. But are these funds [...]

Promise and Pitfalls for Sovereign Wealth Funds

Posted on 09 April 2015

Sovereign wealth funds are turning to smart beta strategies to boost returns and lower volatility. Here’s what managers should know about the potential and perils for the popular strategy. Enhanced indexes, alternative beta, strategic beta, or factor-based investing. Whatever the term of art, smart beta is drawing sovereign wealth funds and other institutions.

BlackRock, Norway’s Wealth Fund to Gain From Shell’s BG Deal

Posted on 09 April 2015

BlackRock Inc. and Norway’s sovereign wealth fund are poised to cash in after Royal Dutch Shell Plc agreed to buy BG Group Plc in the largest oil and gas deal in more than a decade.

Norway central bank to continue buying Kroner for oil fund

Posted on 09 April 2015

Norway’s central bank said it would continue to buy Norwegian kroner and sell foreign exchange in the market in November on behalf of the country’s sovereign-wealth fund. As in October, Norges Bank said it would sell the equivalent of 250 million Norwegian kroner ($37.2 million) a day in foreign exchange over the coming month and [...]

Accounts Chamber to inspect Oil Fund

Posted on 09 April 2015

The Accounts Chamber has approved the plan of control measures for the nearest future. According to the Chamber, its Board has sanctioned inspections in a number of state organizations. The State Oil Fund (SOFAZ) will be inspected for budget execution, the State Committee for Standardization, Metrology and Patient – for budgetary and extra-budgetary funds.

Dubai Fund Buys Stake In Cape Town, U.S. Hotels

Posted on 09 April 2015

Investment Corporation of Dubai has acquired a stake in Cape Town’s luxury five-star waterfront resort, One & Only, along with two other luxury hotels in prime U.S. locations. A sovereign wealth fund owned by the government of Dubai in United Arab Emirates, Investment Corporation exists to generate a superior return on investment, according to its [...]

Abu Dhabi and Kuwait in consortium mix for NSW power assets bid

Posted on 09 April 2015

The Abu Dhabi Investment Authority is understood to have joined a group, including Hastings Funds Management and Spark Infrastructure Group, that plans to bid for NSW electricity assets. Canada’s Caisse de Depot et Placement du Quebec and an arm of the Kuwait Investment Authority were also part of the consortium, people with knowledge of the [...]

Advent teams up with Temasek to scoop up Crompton’s consumer business

Posted on 09 April 2015

A group of investors led by bulge-bracket private equity firm Advent International along with Temasek, the investment company of the government of Singapore, are set to buy the consumer business of Crompton Greaves, said multiple sources who are directly involved in the deal.

Are Sovereign Wealth Funds Becoming Guarantors?

Posted on 08 April 2015

Although sovereign wealth funds only became a major global financial factor 25 years ago, they are rapidly becoming the centerpiece of world monetary liquidity, utilized by 15 global governments fortunate enough to have accumulated excess cash, after meeting all budgetary monetary requirements. It’s estimated that these government-directed wealth centers comprise $7 trillion of the world’s [...]

China Sovereign Wealth Fund’s Private-Equity Chief Said to Leave

Posted on 08 April 2015

The head of the private-equity department at China’s $653 billion sovereign wealth fund has stepped down, according to a person familiar with the matter. He Linbo, also known by his English name Ludwig, was replaced at China Investment Corp. by Wang Ou, previously an official with the China Securities Regulatory Commission, said the person, who [...]

Gulf Air losses to fall sharply

Posted on 08 April 2015

Gulf Air’s losses this year are expected to be less than a quarter of what they were just three years ago. Transportation and Telecommunications Minister Kamal Ahmed told MPs yesterday that was due to a major restructuring exercise launched in early 2013.

Abu Dhabi closes on $337M purchase of New York Edition

Posted on 08 April 2015

The Abu Dhabi Investment Authority closed on the purchase of the New York Edition Hotel at 5 Madison Avenue, according to property records filed Tuesday. The 273-room hotel is the third Edition hotel buy for the sovereign wealth fund.

Outlook for the Alberta Heritage Savings Trust Fund

Posted on 08 April 2015

Our mandate on the Heritage Fund is purely economic, to get the highest return we can on investable assets, and that continues. Our biggest client is quite flexible in how we invest those assets and has continued to relax constraints. We can invest [the Heritage Fund] globally in whatever assets we see fit and we’ll [...]

Kazakhstan Railways KZT 23 billion assets sale in 2014

Posted on 08 April 2015

Kazakhstan Railways (KTZ), the largest subsidiary of Sovereign Wealth Fund “Samruk-Kazyna”, has tendered 35 subsidiaries and affiliated organizations, as part of the second wave of the privatization programme carried out by the fund.

KIC’s possible investment in LA Dodgers called into question

Posted on 07 April 2015

A possible deal by South Korea’s sovereign wealth fund to buy some 19 percent of the Los Angeles Dodgers baseball team could entail much risk and end in failure, market observers said Monday. The Korea Investment Corporation (KIC), which manages assets entrusted by South Korea’s central bank, has been in talks to buy the stake [...]

Temasek Snaps Up Stake In UK’s Funding Circle

Posted on 07 April 2015

A fast-growing peer-to-peer lending platform is to sell a stake in itself to Temasek, the Singaporean sovereign wealth fund, as part of a fundraising that will catapult it into the ranks of Britain’s most valuable technology start-ups.

Future Fund refuses to appear before Senate tax avoidance inquiry

Posted on 07 April 2015

The $100bn Future Fund has refused to give evidence to a Senate inquiry into corporate tax avoidance despite being named in leaked documents last year among scores of companies using secret Luxembourg deals to reduce tax by routing profits through tax havens.

Canada Pension may buy Chennai IT park for Rs 1,500 crore: Sources

Posted on 07 April 2015

Canada Pension Plan Investment Board is close to buying an IT park in Chennai jointly owned by Shapoorji Pallonji and New Vernon Capital for Rs 1,500 crore, two people familiar with the matter said. If it goes through, this will be the biggest real estate private equity transaction so far this year. “Both parties are [...]

NSIA to invest N7.8bn in infrastructure

Posted on 07 April 2015

The Nigerian Sovereign Investment Authority plans a $40m (N7.88bn) investment to improve the infrastructural facilities in critical sectors such as education, healthcare and environment. This was confirmed to our correspondent by the Managing Director, NSIA, Mr. Uche Orji, on Friday.

Nigeria’s sovereign ​wealth ​fund gets global rating

Posted on 07 April 2015

The Nigeria Sovereign Investment Authority ​has been ranked second out of 51 global sovereign wealth funds under the Sovereign Wealth Fund Institute transparency index ranking for 2014. The new ranking​,​ published recently​,​ showed the Authority upgraded from four points to nine out of a possible ten during the second quarter of 2014, making it the [...]

RMZ to raise Rs 1,000 cr funding from Qatar Investment Authority

Posted on 07 April 2015

Qatar Investment Authority (QIA), the sovereign wealth manager of Qatar is likely to invest approximately Rs 1,000 crore in a group company of Bangalore-based real estate developer RMZ Corp, according to sources briefed on the matter.

Kuwait eyes Italy and invests in strategic fund

Posted on 07 April 2015

A billion euros in trade annually, close political relations and a shared commitment against Islamic State (ISIS) terrorism, with Italian military planes in Kuwaiti territory, form the basis of Italy’s relations with Kuwait. This year’s 500-million-euro investment by the Kuwait Investments Authority (KIA) in Italy’s Strategic Fund (FDI) is especially noteworthy as well, said Italy’s [...]

Is Africa the New Frontier of Sovereign Wealth Funds?

Posted on 07 April 2015

With oil prices accelerating past $100 per barrel, history suggested that we were on the verge of another boom in sovereign wealth fund creation like the one that characterized the mid-2000s. Now, in 2015, that vision has failed to materialize. Sovereign Wealth Center’s Victoria Barbary suggests that this might not be such a bad thing.

Past 12 Months in Direct RE, Sovereign Funds Spent Over $35 Billion

Posted on 07 April 2015

Increasingly, sovereign wealth funds and pensions are making more direct investments, especially in real estate and infrastructure. Instead of simply handing money to managers, wealth funds are forming strategic partnerships with commercial developers, banks, life insurers and other pools of capital. According to SWFI’s Sovereign Wealth Fund Transaction Database sovereign funds directly invested over [...]

Why NM State Investment Council allocated $1.1 billion for ’smart beta’

Posted on 07 April 2015

The New Mexico State Investment Council, which manages the state’s $20 billion sovereign wealth fund — otherwise known as a permanent endowment — has allocated $1.1 billion for a new investment strategy known as ” smart beta.”

Future Fund board’s double withdrawal

Posted on 02 April 2015

The $100 billion Future Fund is down two members of its board of guardians today, with former Suncorp CEO John Mulcahy and funds management veteran Susan Doyle finishing their terms without replacements being announced.

Wealth Funds Turn to Tokyo Property as London Seen as Model

Posted on 02 April 2015

Global wealth funds are moving to buy more Tokyo properties to take advantage of rising prices in the Japanese capital, one of the highest-ranking officials at the land ministry said.“Long-term pension funds in the U.S. and Europe, particularly in Scandinavia, are looking to lift their positions” in Japanese real estate, Kisaburo Ishii, a vice minister [...]

Social-security fund allowed to invest in local government bonds

Posted on 02 April 2015

China’s State Council, or cabinet, announced measures on Wednesday to boost returns at the nation’s social-security fund, expanding its investment scope to include local-government bonds and other financial instruments.

UK’s ‘first’ offshore wind investment fund attracts English councils and Abu Dhabi

Posted on 02 April 2015

Abu Dhabi’s sovereign wealth fund and two English local authority pension funds have invested a total of £263m in a new dedicated offshore wind fund established by the Green Investment Bank (GIB), BusinessGreen understands. The GIB confirmed today that it had closed the first £463m stage of fundraising for its new offshore wind venture, which [...]

Azerbaijan’s non-oil sectors to be key to its sustainable development

Posted on 02 April 2015

Azerbaijan has developed almost unrecognizably in the past five years. The economy has continued to grow at a significant level and, despite various challenges such as the falling of oil prices, the country has demonstrated a remarkable ability to ride any concerns through carefully chosen investments and sensible policies. SOFAZ, the State Oil Fund of [...]

NSIA Records N15bn Income In 2014

Posted on 02 April 2015

The Managing Director, Nigeria Sovereign Investment Authority (NSIA), Mr Uche Orji, said the fund recorded a net comprehensive income of N15.8 billion in 2014, up from N505 million in December 2013. Orji announced this while addressing newsmen on Authorities Financial Year report on Monday in Abuja.

SWFs Are Hot for Smart Beta: What Does That Mean For Stakeholders?

Posted on 02 April 2015

In early December, trustees of the $51.4 billion Alaska Permanent Fund Corp (APFC) gathered in a fifteenth floor conference room at the Sheraton Anchorage Hotel. Through the expansive windows, staff, advisors and consultants had a stunning view: Alaska’s most populous city was spread out below them, with mountains looming majestically in the [...]

Sovereign wealth funds exerting an ever greater influence

Posted on 01 April 2015

The collapse in crude oil prices over the past six months has put many countries under fiscal pressure. But some oil-rich producers, such as Norway, the UAE and Kuwait, are in a more comfortable position thanks to longstanding commitments to ring-fence oil revenues into funds to preserve the value of their hydrocarbon resources.

banner
banner
April 2015
M T W T F S S
« Mar    
 12345
6789101112
13141516171819
20212223242526
27282930