Sun, Aug 30, 2015
A A A
Welcome asarmad
RSS

Sovereign Wealth Funds Briefing - Category | Performance more

Norway’s Wealth Fund Lost More Than 5% in Past Month, CEO Says

Posted on 28 August 2015 by VRS  |  Email |Print

Norway’s sovereign wealth fund, the world’s biggest, lost more than 5 percent on its investments in the past month, the head of the $840 billion fund said. The revelation follows the biggest selloff in Chinese stocks in two decades. The most recent developments suggest China’s transition to a more consumer-driven economy is proving difficult, Chief Executive Officer Yngve Slyngstad said Wednesday in the Staavi and Valebrokk podcast for newspaper VG.
“We can’t put everything away safely into the bank — we need to invest in risk,” Slyngstad said in the podcast. “We invest in bonds, we invest in stocks and we invest in real estate, in the world economy.”……………………………………….Full Article: Source

Norway oil fund hit by China - CEO

Posted on 28 August 2015 by VRS  |  Email |Print

Norway’s $830 billion sovereign wealth fund has shrunk by more than five percent in the past month in a global stock market rout led by uncertainty over the health of China’s economy, the fund’s chief executive said. He said 2015 so far had been “rather special” with currency swings and falls in commodity prices including oil. “Now there’s a lot happening in China, and that has big consequences for the whole world economy,” he said.
He defended the fund’s strategy of investing about 60 percent in equities, 35 in fixed income and five percent in real estate, saying the fund had to accept some risks and could not simply put its cash in a bank………………………………………..Full Article: Source

Norway Fund Could Suffer Heavy Loss From Stock-Market Rout

Posted on 25 August 2015 by VRS  |  Email |Print

With stocks forming nearly two-thirds of its $836 billion portfolio, Norway’s sovereign wealth fund, the world’s biggest, could stand among the day’s biggest losers by the closing bell on the New York Stock Exchange on Monday. If the stock-market rout continues, the fund’s third-quarter results will be poor, said Nordea Markets analyst Erik Bruce. “The fund’s strategy may be questioned,” he said.
The fund, which holds 1.3% of the world’s listed stocks, and 2.4% of all listed European shares, posted its first quarterly loss in three years last week. Norges Bank Investment Management, the arm of Norway’s central bank running the fund, blamed losses on its equity and fixed-income investment………………………………………..Full Article: Source

Alaska Permanent Fund gains 4.9% for fiscal year

Posted on 21 August 2015 by VRS  |  Email |Print

Alaska Permanent Fund Corp., Juneau, returned a preliminary 4.9%, gross of fees, for the fiscal year ended June 30, surpassing its -1.4% benchmark, said spokeswoman Laura Achee. The sovereign wealth fund has a target asset allocation of 36% stocks, 20% bonds and cash, 12% real estate, 6% each private equity and absolute return, 4% infrastructure and the rest in “other.”
The top-performing asset class for the year was private equity, which returned 16.46%, followed by real estate at 9.8%; mezzanine debt, 9.64%; domestic equities, 7.18%; infrastructure, 4.73%; outsourced CIO allocations, 3.43%; absolute return, 1.71%; global equities, 1.23%; domestic fixed income, 1.15%; non-domestic fixed income, -2.37%; international equities, -5.2%; private markets OCIO allocations, -5.62%; and multiasset emerging markets, -7.4%………………………………………..Full Article: Source

Norway’s sovereign wealth fund posts first negative return in three years

Posted on 21 August 2015 by VRS  |  Email |Print

Norway’s sovereign wealth fund posted a -0.9 percent return, or a loss of 73 billion Norwegian kroner (8.79 billion U.S. dollars), in the second quarter of 2015, the first negative quarterly return in three years, the fund said on Wednesday.
Equity, fixed-income and real estate investments returned -0.2 percent, -2.2 percent and 2.0 percent respectively in the quarter, according to a statement of the fund, formally known as the Government Pension Fund Global (GPFG) and ranked as the world’s biggest sovereign wealth fund………………………………………..Full Article: Source

Norway’s Giant Fund Buckles in Q2?

Posted on 21 August 2015 by VRS  |  Email |Print

Norway’s $870 billion sovereign wealth fund reported its first quarterly loss in three years on Wednesday, hauled down by sliding bond and stock markets. The world’s richest sovereign wealth fund owns about 1.3 percent of all global equities and has massive government and corporate bond holdings, so its performance and decisions are closely followed by investors across the world.
It lost 73 billion Norwegian crowns ($8.8 billion) in the second quarter – representing a negative return of about 1 percent on its investments. That was the first drop the fund had seen since the same period of 2012 – and a dramatic reversal from the record 401 billion crown gain in January-March this year………………………………………..Full Article: Source

Norway sovereign fund posts first negative return since 2012

Posted on 20 August 2015 by VRS  |  Email |Print

The world’s biggest sovereign wealth fund, Norway’s public pension fund, reported Wednesday its first negative quarterly return in three years, pulled down by the bond market. The fund posted a -0.9 percent return.
Bonds, which represent 34.5 percent of its investment portfolio, yielded a negative return of 2.2 percent in the second quarter said Norway’s central bank, which manages the fund. “The return on fixed-income investments was affected by an increase in yields in the fund’s main markets,” fund director Yngve Slyngstad said in a statement………………………………………..Full Article: Source

Norway’s $870 billion oil fund had negative return in Q2

Posted on 20 August 2015 by VRS  |  Email |Print

Norway’s $870 billion sovereign wealth fund, the world’s biggest, had a negative return on investments in the second quarter as US stocks pulled down results and bonds fell, it said on Wednesday.
The fund lost 73 billion Norwegian crowns ($8.82 billion) in the quarter, a sharp reversal from the record 401 billion return seen from January to March but ahead of its own market benchmark. The April-June return corresponded to minus 0.9 per cent, down from 5.3 per cent in the first three months. A strengthening of the Norwegian crown cut a further 53 billion from the fund against an increase of 175 billion in the previous quarter………………………………………..Full Article: Source

Norway’s sovereign wealth fund suffers $8.8bn loss

Posted on 20 August 2015 by VRS  |  Email |Print

Norway’s $870 billion sovereign wealth fund reported its first quarterly loss in three years onWednesday, hauled down by sliding bond and stock markets. The world’s richest sovereign wealth fund owns about 1.3 percent of all global equities and has massive government and corporate bond holdings, so its performance and decisions are closely followed by investors across the world.
It lost 73 billion Norwegian crowns ($8.8 billion) in the second quarter — representing a negative return of about 1 percent on its investments. That was the first drop the fund had seen since the same period of 2012 — and a dramatic reversal from the record 401 billion crown gain in January-March this year………………………………………..Full Article: Source

Oil Cash Slump Triggers New Risks at World’s Biggest Wealth Fund

Posted on 20 August 2015 by VRS  |  Email |Print

The sudden slowdown in capital flows into the world’s biggest sovereign wealth fund will add to risks and make it more costly to adjust its strategy, its chief executive officer said. As crude has plunged below $50 a barrel, Norway’s fund has seen a precipitous drop in cash injections from the government. It received just 12 billion kroner ($1.4 billion) in the second quarter, compared with an average of 60 billion kroner over the past 10 years.
“We still have a net positive inflow, although it’s very small these days,” Yngve Slyngstad, head of the fund, said in an interview in Oslo on Wednesday. While it won’t immediately change its strategy, the fund won’t have “the same amount of cash to reinvest,” he said………………………………………..Full Article: Source

SG50: Temasek chairman tops list of National Day Award recipients

Posted on 10 August 2015 by VRS  |  Email |Print

Former Cabinet minister and Temasek Holdings chairman S Dhanabalan tops the list of 3,888 National Day Awards recipients this year, being awarded the nation’s highest honour, the Order of Temasek (First Class).
Immediate past president of the Singapore National Employers Federation Stephen Lee was conferred the Order of Nila Utama (First Class) for his contributions in building a strong tripartite partnership in Singapore………………………………………..Full Article: Source

WB predicts decline in Azerbaijan Oil Fund’s assets to $33.17 bn

Posted on 05 August 2015 by VRS  |  Email |Print

The embargo on the publication of the Country Partnership Framework (CPF), endorsed by the World Bank Board of Directors on 21 July, has been lifted.
According to CPF, the WB forecasts medium-term reduction of assets of the State Oil Fund of Azerbaijan (SOFAZ). Under the forecast, in 2015 the SOFAZ assets will total $37.1 bn, in 2016 - $34.8 bn, and in 2017 - $33.17 bn………………………………………..Full Article: Source

Wealth fund banks on Belt and Road to drive growth

Posted on 31 July 2015 by VRS  |  Email |Print

Sovereign wealth fund China Investment Corp, which started its overseas direct investment operations on Monday through CIC Capital Corp, will be among the select group of financial institutions that will participate in the key projects associated with the Belt and Road Initiative.
A report from Caixin.com said that CIC Capital, which was established on January 20, might have got a $100 billion capital infusion from the Ministry of Finance through a bond issue. Neither the sovereign wealth fund manager nor the Ministry of Finance provided further information on Wednesday………………………………………..Full Article: Source

Singapore GIC Reports Higher Return, Cautions on Market Outlook

Posted on 30 July 2015 by VRS  |  Email |Print

GIC Pte, manager of more than $100 billion of Singapore’s reserves, said its key performance measure improved but warned that higher global interest rates could dent future returns. Buoyant global markets helped GIC’s annualized real rate of return rise to 4.9 percent in the 20-year period to March 31, from 4.1 percent in the 20 years that ended in March 2014, according to the sovereign wealth fund’s annual report. GIC doesn’t issue annual performance figures.
GIC warned that global markets have already risen strongly and face possible headwinds as the U.S. Federal Reserve and other central banks start to unwind their low interest rate policies in the years ahead………………………………………..Full Article: Source

GIC posts 4.9% return in past 20 years; sees tougher times ahead

Posted on 30 July 2015 by VRS  |  Email |Print

The sovereign wealth fund says volatile markets could chip away at its returns in the next five to 10 years, and short-term losses are possible. GIC posted annualised real returns of 4.9 per cent in the past 20 years ending on March 31, 2015 - higher than 2014’s 20-year real return of 4.1 per cent.
The sovereign wealth fund has warned, however, that volatile markets could lower its returns for the next five to 10 years. In its 2014/15 annual report, GIC said the returns between April 1995 and March 2015 have been ahead of global inflation, which has averaged between 2 and 3 per cent………………………………………..Full Article: Source

SWF: Temasek rides China wave to near 20% return

Posted on 29 July 2015 by VRS  |  Email |Print

Temasek has always looked a little bit different to other sovereign wealth funds. There’s the fact that it’s pretty much all in equities, for a start, either listed or a pre-listing stake; or that 70% of its portfolio is in Asia, with less than a third in what most investors consider the developed world.
And now there’s the fact that it reported a 19.2% return in the year to March 31. That’s not very sovereign wealth fund behaviour at all: most such funds aim for a fraction above inflation, mitigating risk with painstakingly diversified portfolios, and are delighted if long-term numbers reach 7% or so. So, well done Temasek. But there might be a catch………………………………………..Full Article: Source

Sovereign, pension funds lose ground for nine months straight

Posted on 28 July 2015 by VRS  |  Email |Print

The latest pension and sovereign wealth fund data shows that they account for a lesser proportion of the overall foreign portfolio investor (FPI) holdings than they did in the previous month. This was also true for the previous month, and the month before that.
In fact, these long-term investors share of the overall investment pie has declined every month since September 2014. They now account for 14.43% of the total FPI holdings. Such funds typically invest for the long-term and are considered a stable source of capital, unlike hedge funds or other investors who quickly move in and out of markets for a profit………………………………………..Full Article: Source

Brazil sovereign fund earns $39 mln with Banco do Brasil share sale

Posted on 27 July 2015 by VRS  |  Email |Print

Brazil’s sovereign wealth fund earned about 134 million reais ($39 million) with the disposal of 5.625 million shares of state-controlled Banco do Brasil SA between the end of June and mid-July.
In a statement distributed late on Friday, the so-called Fundo Soberano do Brasil sold the shares at an average price of 23.84 reais each. Proceeds from the sale were all reinvested into a domestic asset portfolio, as per requested by the fund’s board of directors, the statement said………………………………………..Full Article: Source

SOFAZ announces H1 statement on revenue and expenditure

Posted on 24 July 2015 by VRS  |  Email |Print

Budget revenues of the State Oil Fund of the Republic of Azerbaijan (SOFAZ) for the period of January-June, 2015 reached 4 054. 0 mln. manats, while budget expenditures constituted 4 042.1 mln. manats.
Revenue of 3 812.1 mln. manats was received from the implementation of oil and gas agreements, including 3 802.1 mln. manats from the sale of profit oil and gas, 5.7 mln. manats as transit payments, 2.1 mln. manats as bonus payments and 2.2 mln. manats as acreage fees. The revenues from managing assets of the Fund for January-June 2015 amounted to 241.9 mln. manats. The Fund’s extra-budgetary revenues related to the revaluation of foreign exchange totalled 8 013.4 mln. manats………………………………………..Full Article: Source

Assets of the State Oil Fund of Azerbaijan Republic fell by 3.6% to $35.8 bn in spite of budget surplus

Posted on 24 July 2015 by VRS  |  Email |Print

The State Oil Fund of Azerbaijan Republic (SOFAZ) has published data on its activities in the first half of 2015. According to the Fund, its assets as of July 1, 2015 have dropped by 3.56% compared to the beginning of 2015 (USD 37 104.1 mln.) and stood at USD 35,783.3 mln. “Decrease of assets since the beginning of the year is due to the revaluation of foreign exchange,” SOFAZ said.
Nevertheless, the Fund had his budget in surplus in the first half of the year. “Budget revenues of the State Oil Fund of the Republic of Azerbaijan (SOFAZ) for the period of January-June, 2015 reached 4.054 bn manats, while budget expenditures constituted 4.042 bn. manats,” SOFAZ said………………………………………..Full Article: Source

Rwanda’s Sovereign Fund Muscle Growing Stronger

Posted on 22 July 2015 by VRS  |  Email |Print

Rwanda’s sovereign fund has received an extra Rwf25million as contribution from city of Kigali. The city Mayor Fidel Ndayisaba delivered the cheque to Rwanda’s Ministry of Finance and Economic Planning saying; “The contribution is not institutional; city council employees saw it vital to gather money to support this cause.”
The initiative is popularly known as Agaciro Development Fund established during the National Dialogue of 2011. President Paul Kagame identified Agaciro as a sure way to Rwanda’s self-reliance. It’s a way citizens contribute to their development and cutting dependence on Foreign Aid………………………………………..Full Article: Source

The world’s biggest sovereign wealth funds

Posted on 20 July 2015 by VRS  |  Email |Print

When it comes to sovereign wealth funds—state-owned investment vehicles—those countries that can afford to squirrel away surplus revenues do. As of March 2015, sovereign wealth funds around the world had amassed $7.1 trillion in assets under management, according to the Sovereign Wealth Fund Institute (SWFI), up from $3.4 trillion at the start of 2008.
Funds invest in a range of financial assets, from stocks and bonds to real estate and precious metals, but all have an objective to maximize the long-term return from their investments. Of total assets around the world, $4.29 trillion came from oil and gas sovereign wealth funds, which are funded by revenues from energy exports………………………………………..Full Article: Source

Qatar National Bank Q2 net profit rises 10%, beats forecasts

Posted on 10 July 2015 by VRS  |  Email |Print

Qatar National Bank (QNB), which is 50 per cent owned by sovereign wealth fund Qatar Investment Authority, beat analysts’ expectations on Wednesday as it posted a 10 per cent increase in second-quarter net profit, according to Reuters calculations.
The bank, the largest lender in the Gulf Arab region, reported a net profit of QAR 2.91bn ($799.2m) for the three months to June 30, compared with QAR 2.64bn in the corresponding period of last year, Reuters calculated. The bank did not provide a quarterly results breakdown in its earnings statement………………………………………..Full Article: Source

Temasek reports 19.2% investment gain for fiscal year

Posted on 08 July 2015 by VRS  |  Email |Print

Temasek Holdings Pte., a Singapore-based sovereign wealth fund, reported the Singapore dollar value of its investment portfolio rose 19.2% to S$266 billion ($193.3 billion) for its fiscal year ended March 31. In U.S. dollar terms, Temasek reported a smaller 9% gain, reflecting the U.S. currency’s appreciation from roughly S$1.26 to S$1.37 over the year.
With the latest results, Temasek has gained an annualized 9.6% in Singapore dollar terms over the past three years, and 9% over the past 10. In U.S. dollar terms, meanwhile, the sovereign wealth fund’s gains have been 6% and 11%, respectively. Png Chin Yee, managing director, investment, at a news conference Tuesday, attributed the latest year’s gains to a strong year for the respective equity markets of Singapore and China — Temasek’s top two allocations………………………………………..Full Article: Source

SOFAZ revenues exceed expectations

Posted on 07 July 2015 by VRS  |  Email |Print

The assets of Azerbaijan’s state oil fund SOFAZ exceeded 29.28 billion manat as of 2014 compared to about 28.31 billion manat in 2013, the SOFAZ report audited by PriceWaterhouseCoopers Audit Azerbaijan reads. some 25.62 billion manat of the total assets accounted for the current assets, but about 3.66 billion manat – long-term assets.
According to the report, SOFAZ received 12.73 billion manat in 2014 (compared to the projected figure of 11.63 billion manat). SOFAZ’s expenses exceeded 10.1 billion manat in 2014 compared to 10.6 billion manat envisaged in the budget………………………………………..Full Article: Source

China’s CIC sovereign fund overseas investment return falls to 5.47 pct

Posted on 06 July 2015 by VRS  |  Email |Print

China’s sovereign wealth fund China Investment Corp. (CIC) earned a lower return on its overseas investment last year at 5.47 percent, it said on Friday. At its annual earnings briefing, CIC said it posted a net profit of $89.1 billion last year, up 2.5 percent from the $86.9 billion earned in 2013. The fund recorded a 9.3 percent return on its overseas investment in 2013.
Founded in 2007 to help China earn a higher return on its huge foreign exchange reserves, CIC invested about 30 percent of its assets - or $200 billion - in overseas markets last year. At the end of the first quarter, China had $3.73 trillion in reserves………………………………………..Full Article: Source

China sovereign wealth fund expands by $125 billion

Posted on 06 July 2015 by VRS  |  Email |Print

Sovereign wealth fund China Investment Corp (CIC) saw its total assets soar by US$93 billion (S$125 billion) to nearly US$750 billion last year, it said Friday, although subdued global growth slowed returns on its overseas portfolio.
CIC was created in 2007 with US$200 billion to make better use of China’s colossal foreign exchange reserves, which amounted to US$3.73 trillion this March. Its total assets expanded to US$746.73 billion by the end of 2014, an increase of US$93.5 billion, CIC said in its annual report………………………………………..Full Article: Source

China sovereign wealth fund overseas returns fall, but assets swell by US$93b

Posted on 06 July 2015 by VRS  |  Email |Print

Assets at sovereign wealth fund China Investment Corp grew by US$93 billion to nearly US$750 billion last year, it reported, although subdued global growth slowed returns on its overseas portfolio. CIC was created in 2007 with US$200 billion to make better use of foreign exchange reserves, which have grown to US$3.73 trillion as of March this year.
Its total assets expanded to US$746.73 billion by the end of 2014, an increase of US$93.5 billion, CIC said in its annual report. But returns on the overseas portfolio dropped to 5.47 percent, down from 9.33 percent in 2013 and the weakest since 2011, according to the document. “During 2014, the global economy recovered at a slower speed than expected,” Ding Xuedong, chairman and chief executive officer of CIC, said in the report………………………………………..Full Article: Source

China sovereign fund net profit surges in 2014

Posted on 06 July 2015 by VRS  |  Email |Print

China Investment Corporation (CIC), the sovereign wealth fund, reported a huge net profit increase in 2014 in the company’s annual report, released Friday. Net profits hit 89.1 billion U.S. dollars last year, 2 billion dollars more than the previous year.
CIC branches abroad reported a net investment profit margin of 5.47 percent in 2014, lower than the annual average rate of 5.66 percent registered since the founding of the company in 2007. The company’s total assets surpassed 740 billion U.S. dollars, according to the report………………………………………..Full Article: Source

Dubai sovereign wealth fund sees profits surge 62%

Posted on 03 July 2015 by VRS  |  Email |Print

Investment Corporation of Dubai (ICD), the emirate’s sovereign wealth fund has reported increased profits of $7.75 billion (AED28.5 billion) for 2014, up by 62 percent on the previous year. In a statement, ICD, which has stakes or holdings in companies such as Emaar, Emirates Airline, Emirates NBD and ENOC, said the positive results were driven by the group’s core business, an exceptional gain arising from the incorporation of Dubai Aluminium (Dubal) into the newly formed Emirates Global Aluminium (EGA) and by the partial disposal of the group’s equity investment in the London Stock Exchange.
ICD’s revenues increased by 11 percent, up from $48.5 billion to $54 billion, which is said was driven by the group’s subsidiaries operated in transportation, oil and gas and banking and financial services sectors………………………………………..Full Article: Source

Dubai sovereign wealth fund sees profits surge 62%

Posted on 02 July 2015 by VRS  |  Email |Print

Investment Corporation of Dubai (ICD), the emirate’s sovereign wealth fund has reported increased profits of $7.75 billion (AED28.5 billion) for 2014, up by 62 percent on the previous year.
In a statement, ICD, which has stakes or holdings in companies such as Emaar, Emirates Airline, Emirates NBD and ENOC, said the positive results were driven by the group’s core business, an exceptional gain arising from the incorporation of Dubai Aluminium (Dubal) into the newly formed Emirates Global Aluminium (EGA) and by the partial disposal of the group’s equity investment in the London Stock Exchange………………………………………..Full Article: Source

SAMA’s net foreign assets fall 1 to SR2.521 trillion

Posted on 02 July 2015 by VRS  |  Email |Print

Net foreign assets at Saudi Arabian Monetary Agency fell to SR2.521 trillion (672.2 billion) in May down by 6.6 billion or 1.0 percent from the previous month as the kingdom continued to draw down reserves to cover a budget gap caused by cheap oil. Assets dropped by 8.1 percent from a year earlier to their lowest level since April 2013 central bank data showed.
The central bank serves as the country’s sovereign wealth fund storing its earnings from oil exports. Assets’ year-on-year drop is partly due to the strong US dollar which has cut the value of the portion denominated in non-dollar currencies but a major part is due to a fiscal drawdown analysts say………………………………………..Full Article: Source

SOFAZ reveals revenues from ACG, Shah Deniz fields

Posted on 01 July 2015 by VRS  |  Email |Print

Azerbaijan’s state oil fund SOFAZ has earned $113.33 billion from 2001 to June 1, 2015 by developing the giant Azeri-Chirag-Gunashli (ACG) block of oil and gas fields in the Azerbaijani sector of the Caspian Sea.
“The fund gained $3.071 billion in January-May, 2015 within the framework of ACG project, including $549 million in May,” SOFAZ told Trend on June 30. The ACG fields have been active since 1997. Its production first started at the Chirag part of the block. It was followed by Azeri Project; Central Azeri in February 2005, West Azeri in December 2005, and East Azeri in October 2006………………………………………..Full Article: Source

UAE, Saudi sovereign wealth funds among world’s largest

Posted on 01 July 2015 by VRS  |  Email |Print

Sovereign wealth funds (SWF) in the GCC are among the world’s largest, with the United Arab Emirates and Saudi Arabia leading the way in second and third place, respectively, just behind Norway. The Scandinavian country’s Government Pension Fund currently holds the world’s largest sovereign wealth fund with $882 billion in assets, according to SWF Institute’s the latest rankings.
The UAE’s Abu Dhabi Investment Authority (ADIA) is estimated to hold $773 billion worth of assets. The kingdom’s Foreign Holdings, which is controlled by the Saudi Arabian Monetary Agency (SAMA), has assets valued at $757.2 billion, followed by Kuwait Investment Authority (KIA) at $548 billion………………………………………..Full Article: Source

Investment Corporation of Dubai profit up 63% on core business growth

Posted on 01 July 2015 by VRS  |  Email |Print

Investment Corporation of Dubai (ICD) posted a 63 per cent profit increase last year amid growth in its core businesses, a gain from the transfer of Dubai Aluminium’s assets to Emirates Global Aluminium and a partial sale of its equity in the London Stock Exchange.
ICD’s profit attributable to equity holders rose to Dh23.8 billion last year from Dh14.6bn a year earlier, the sovereign wealth fund said in a statement. Revenues edged up last year 11 per cent to Dh198.4bn from Dh178.3bn a year earlier as the fund’s transportation, oil and gas, banking and financial services units posted strong performance………………………………………..Full Article: Source

NZ super loses direct head, wins performance kudos

Posted on 30 June 2015 by VRS  |  Email |Print

The New Zealand Superannuation Fund (NZS) is searching for a new head of NZ direct investments following the resignation of incumbent, Michael Gleissner, last week. Gleissner, who joined NZS two years ago, “is leaving to focus on family commitments and consulting activities”, a spokesperson for the almost $30 billion fund said.
Until a replacement is found, Matt Whineray, NZS chief investment officer, would assume Gleissner’s responsibilities, the spokesperson said. The NZ Direct team manages NZS investments in Kaingaroa Timberlands, rural land, Datacom and Metlifecare………………………………………..Full Article: Source

New Zealand Superannuation Fund Hailed As World’s Top Performing Wealth Fund By JPMorgan

Posted on 29 June 2015 by VRS  |  Email |Print

The New Zealand Superannuation Fund has been hailed as world’s top performing wealth fund by JPMorgan. Having generated returns of more than 17 percent a year, the nearly NZ$30 billion New Zealand Superannuation Fund is ahead of all its global counterparts, which have published figures, according to the analysis published in the Financial Times. New Zealand’s Super Fund was set up in 2001 to pay for the costs of superannuation entitlements of New Zealanders.
“The New Zealand fund has a very interesting governance model. It is run by a group called The Guardians, who have a very deep belief in the power of long-term returns”, said Patrick Thomson, global head of sovereign wealth funds at JPMorgan. The last few years have been among the best years the fund experienced, noted Gavin Walker, NZ Super Fund chairma……………………………………….Full Article: Source

These are the world’s top 10 largest sovereign wealth funds

Posted on 26 June 2015 by VRS  |  Email |Print

Number 1? Norway’s Government Pension Fund - Global with $882bn worth of assets. Be it China or Qatar, the world’s sovereign wealth funds are snapping up British assets every other day. But which are the world’s top 10 largest sovereign wealth funds? Take a look at this list by Sovereign Wealth Fund Institute.
1. Government Pension Fund - Global. Country: Norway Assets: $882bn Inception: 1990. 2. Abu Dhabi Investment Authority. Country: UAE – Abu Dhabi Assets: $773bn Inception: 1976. 3. SAMA Foreign Holdings Country: Saudi Arabia Assets: $757.2bn Inception: n/a……………………………………….Full Article: Source

New Zealand’s Super Fund – World’s Best-performing Sovereign Wealth Fund

Posted on 24 June 2015 by VRS  |  Email |Print

The New Zealand Superannuation Fund has outperformed all of its counterparts with its generated returns of more than 17 per cent a year over the past five years according to analysis by JPMorgan. “Acting as a long-term investor has brought short-term rewards for New Zealand’s sovereign wealth fund”, write Sophia Grene and Steve Johnson for the Financial Times.
“The New Zealand fund has a very interesting governance model. It is run by a group called the Guardians, who have a very deep belief in the power of long-term returns”, said Patrick Thomson, global head of sovereign wealth funds at JPMorgan………………………………………..Full Article: Source

Guardians of New Zealand’s sovereign wealth lead it to the top

Posted on 22 June 2015 by VRS  |  Email |Print

Acting as a long-term investor has brought short-term rewards for New Zealand’s sovereign wealth fund. It generated returns of more than 17 per cent a year over the past five years, outstripping all other sovereign funds that publish their figures. In the year to April, the NZ$29.7bn ($20.5bn) NZ Super Fund returned 18.4 per cent, with annualised performance for the five years to June 2014 coming in at 17 per cent.
“The New Zealand fund has a very interesting governance model. It is run by a group called the Guardians, who have a very deep belief in the power of long-term returns”, said Patrick Thomson, global head of sovereign wealth funds at JPMorgan, the bank………………………………………..Full Article: Source

In one sentence the CEO of a $117 billion fund explained why market returns will be lower in the future

Posted on 19 June 2015 by VRS  |  Email |Print

David Neal, CEO of Australia’s $117 billion sovereign wealth fund, gave a speech at the Australian British Chamber of Commerce yesterday. He outlined why the Future Fund, as it is known, prefers to invest mostly offshore.
But he also gave a really clear outline – in just one sentence – why asset returns in the years ahead are likely to be substantially lower than they’ve been over the past few years. Neal said: Since 2008 we have seen unprecedented action by central banks and governments to defend economic growth through quantitative easing and other policies which have had the effect of driving yields down and asset prices up………………………………………..Full Article: Source

DIFC’s 10-year target: To be among top 10 financial centres

Posted on 11 June 2015 by VRS  |  Email |Print

Based on Dubai International Financial Centre (DIFC) estimates, half of the growth over the next ten years is forecast to come from South-South corridor – India, China and other Asia Pacific countries while 30 per cent contribution will come from the existing companies in terms of their expansion and 20 per cent by targeting the specialised sectors such as sovereign wealth funds, high net worth individuals, family businesses, Islamic financial services and others.
The areas that DIFC believes that can be tapped are the family offices and assets and wealth management as assets of high net worth individuals and sovereign wealth fund stand at approximately $7-8 trillion in the region; but only $1 trillion assets are managed professionally………………………………………..Full Article: Source

Middle East sovereign wealth funds fear inflow decline

Posted on 09 June 2015 by VRS  |  Email |Print

More than a third of Middle Eastern sovereign wealth funds expect new funding to decrease as the region adjusts to a period of lower oil prices, research suggests. Invesco’s 2015 global sovereign asset management survey reveals that 38 per cent of Middle Eastern sovereign funds expect such funding to decrease; 31 per cent expect it to stay the same; and 31 per cent see it increasing.
After years of ever-increasing allocations, regional fund managers are adjusting to a low-oil environment that may persist for several years. But the research also highlights the positive outlook from most regional funds, whose governments are seeking long-term returns for future generations or domestic development. “Middle East sovereigns felt funding would continue despite the oil price, whereas there is more sensitivity about future withdrawals,” said Nick Tolchard, head of Invesco Middle East………………………………………..Full Article: Source

Achievements of the sovereign wealth fund of Senegal (Video)

Posted on 04 June 2015 by VRS  |  Email |Print

Regional growth is projected to remain stable above in 2015, buoyed by rising investment flows. Joining CNBC Africa, on the side lines of WEF Africa, to give some perspective on the Sovereign Wealth Fund of Senegal and what has been achieved in the last two years is Amadou Hott, CEO of Sovereign Wealth Fund of Senegal for Strategic Investments.……………………………………….Full Article: Source

Resurgent global economy lifts Abu Dhabi Investment Authority returns

Posted on 03 June 2015 by VRS  |  Email |Print

The Abu Dhabi Investment Authority, one of the world’s biggest sovereign wealth funds, said its long-term returns last year rose as world equity and bond markets inched up amid low interest rates and a recovering global economy. Adia said it was optimistic about 2015, even as UAE economic growth is expected to slow after oil prices were nearly cut in half last year. The fund does not invest in domestic assets.
“The drop in oil prices will provide a boost to the economies of Europe, Japan, China and other big net oil importers,” said Hamed bin Zayed Al Nahyan, Adia’s managing director. “Outperformance of the US economy provides a welcome source of demand for the rest of the world. The recent evolution of asset prices – stronger US dollar, lower bond yields and broadly steady equity prices – should work in the direction of improving economic outcomes.”……………………………………….Full Article: Source

Investment Corporation of Dubai posts 83% profit rise

Posted on 20 May 2015 by VRS  |  Email |Print

Investment Corporation of Dubai (ICD) posted an 83.5 per cent increase in profit during the first half of last year compared with the year-earlier period, the sovereign wealth fund said. Net profit attributable to the equity holders of ICD rose to Dh12.08 billion in the six months ended June 30 compared with Dh6.58bn in the year-earlier period, the fund said in a statement to Nasdaq Dubai.
ICD did not give a reason for the profit increase. Revenue increased by nearly 14 per cent to Dh98bn in the first half of last year from Dh86bn in the year-earlier period. Total assets grew 5.8 per cent to Dh643.7bn from Dh608.3bn in the comparable period the previous year………………………………………..Full Article: Source

Total Assets Of Sovereign Wealth Funds Doubled Since 2008

Posted on 18 May 2015 by VRS  |  Email |Print

Preqin’s May 2015 Private Equity Spotlight focuses on sovereign wealth funds’ increasing investment in private equity. The article highlights both the growth in sovereign wealth funds and the increasing percentage of their portfolios being committed to alternative investments including private equity.
According to the article, “Today, the total assets of sovereign wealth funds top $6.31 tn, more than double the capital these entities represented in 2008, the year Preqin launched its first Sovereign Wealth Fund Review.” The Preqin article highlights that since October 2013, SWFs have increased their assets by $900 billion despite slumping commodity and oil prices throughout 2014. The continued growth in assets of sovereign wealth funds has been fueled by more government funding and reserves as well as from investment returns………………………………………..Full Article: Source

Alaska Permanent Fund returns 2.8% in quarter, up 4.7% for 9-month period

Posted on 14 May 2015 by VRS  |  Email |Print

Alaska Permanent Fund Corp., Juneau, returned 2.8% in the quarter ended March 31 and 4.7% in the fiscal year-to-date, said a news release from the $53.9 billion sovereign wealth fund. The fund’s strategic risk benchmark returned 2.2% and 2.7%, respectively, during the same periods. The permanent fund’s fiscal year ends June 30.
For the quarter, the best-performing asset class was the fund’s outsourced CIOs at 4.7%, followed by global equities at 3.4%. The rest of the asset classes were international equity, which returned 2.9%; private equity, 2.7%; domestic equity and real estate, 2.5% each; international fixed income, 2.2%; domestic fixed income, 1.6%; absolute return and infrastructure, 1.3% each; multiasset emerging markets, 0.5%; and private markets OCIOs, -1.2%……………………………….Full Article: Source

KIC portfolio ends 2014 at $84.7 billion, up 17.6% from year before

Posted on 13 May 2015 by VRS  |  Email |Print

Korea Investment Corp.’s investment portfolio was valued at $84.7 billion at the end of 2014, up 17.6% from the year before, said its latest annual report, released Monday. For the year, KIC posted a total investment gain of $2.7 billion, or 3.8%, on total assets under management after costs, and 9.79% against a basket of 33 currencies used by the sovereign wealth fund. For the past five years, the corresponding figures for the fund’s annualized returns were 7.43% and 5.66%, respectively.
A KIC spokesman couldn’t immediately explain why the fund’s year-end value of $84.7 billion was up a much stronger 17.6% for the year. At the end of 2014, equities accounted for 43.8% of KIC’s portfolio, down from 48.4% the year before. Fixed income, meanwhile, stood at 39.2% of the portfolio, up from 34.3% the year before………………………………………..Full Article: Source

Norway’s Sovereign Wealth Fund Is Falling (Video)

Posted on 08 May 2015 by VRS  |  Email |Print

Deutsche Bank Securities Chief International Economist Torsten Slok and Bloomberg’s Saleha Mohsin discuss a fall in Norway’s Sovereign Wealth Fund and what that means for the country. They speak on Bloomberg Television’s “Bloomberg Surveillance.”.………………………………………Full Article: Source

banner
August 2015
M T W T F S S
« Jul    
 12
3456789
10111213141516
17181920212223
24252627282930
31