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Sovereign Wealth Funds Briefing - Category | Performance more

An Asean Government Investment Fund Lost RM73 Billion Last Year

Posted on 26 September 2016 by VRS  |  Email |Print

One of the Asean region’s biggest soveriegn fund has been hit by its first loss in 7 years. While local detractors of Malaysia’s ruling government have continued their smear campaign against state-owned investment fund 1MDB and making it appear as a huge failure due to losses, it is Singapore’s state investment giant Temasek Holdings which announced an astounding SG$24 billion (RM73 billion) loss for its last financial year.
Singapore’s sovereign wealth-fund company Temasek Holdings reportedly lost SG$24 billion in its latest financial year report FY2016 dating March 31. The news which saw the investment arm of the country’s CPF retirement funds lost 9.02% was announced only 3 months later on July 7. Temasek Holdings lost SG$24 billion to SG$242 billion from SG$266 billion a year ago, Straits Times Review had reported earlier this year…………………………………….Full Article: Source

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

Posted on 22 September 2016 by VRS  |  Email |Print

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 increase of 1.89 per cent over 12 months.
In 2012 the fund returned 1.21 per cent. In the year to June 30, 2015, the fund returns more than 14.6 per cent, making it one of the world’s best performing sovereign wealth funds. Since the end of the financial year the fund has surged in value, climbing to $31.4b by the end of August…………………………………….Full Article: Source

New Zealand Super reports 1.89% gain for financial year

Posted on 22 September 2016 by VRS  |  Email |Print

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 reference portfolio by 52 basis points for the year.
Even so, negative returns of just less than 2% by global developed and emerging markets equities left the fund’s gains for the latest year well below the 14.6% advance New Zealand Super enjoyed for its prior financial year, and well off the annualized pace of 9.44% the fund has maintained from its launch in 2003 through June 30…………………………………….Full Article: Source

Angolan sovereign wealth fund releases Q1 results

Posted on 22 September 2016 by VRS  |  Email |Print

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 domestic and regional investments.
“Despite the current regional economic fluctuations, we will continue to invest capital across selected industries and asset classes to gain from the upcoming rebound of Africa’s business cycle,” he said…………………………………….Full Article: Source

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

Posted on 21 September 2016 by VRS  |  Email |Print

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 increase of 1.89 per cent over 12 months.
In 2012 the fund returned 1.21 per cent. In the year to June 30, 2015, the fund returns more than 14.6 per cent, making it one of the world’s best performing sovereign wealth funds. Since the end of the financial year the fund has surged in value, climbing to $31.4b by the end of August………………………………………Full Article: Source

Abu Dhabi’s Mubadala Posts $1.2 Billion Loss in First-Half

Posted on 09 September 2016 by VRS  |  Email |Print

Mubadala Development Co., the Abu Dhabi sovereign fund merging with International Petroleum Investment Co., posted a 4.43 billion-dirham ($1.2 billion) loss in the first half because of lower commodities prices and smaller gains from financial investments.
The result compares with a 625 million-dirham profit a year ago, according to a financial statement from the fund on Thursday. Sales increased to 14.3 billion dirhams from 13.6 billion dirhams a year earlier, while higher depreciation and impairments contributed to the slump………………………………………..Full Article: Source

Russian Wealth Fund Has This Year’s Biggest Drop as Buffers Wilt

Posted on 07 September 2016 by VRS  |  Email |Print

One of Russia’s two sovereign wealth funds had its biggest drop of the year in August, underlining the urgency of bringing the deficit under control as the budget gap remains on track for the widest since 2010.
The Reserve Fund, which peaked at $142.6 billion in 2008, fell to $32.2 billion last month, a decrease of 16 percent from July, as the government converted foreign currency into rubles to cover the deficit, the Finance Ministry said on Tuesday. The government’s other stockpile, the National Wellbeing fund, was at $72.7 billion, compared with $72.2 billion a month earlier………………………………………..Full Article: Source

Future Fund hits 10th year double the size

Posted on 02 September 2016 by VRS  |  Email |Print

It’s 10 years old, doubled in size and, at $123 billion, is larger than Peter Costello envisaged when he established it in May 2006. But the former Liberal treasurer, now chairman of the fund which aims to cover the unfunded liabilities of public service superannuation, has warned of a difficult investment environment ahead.
In its latest quarterly update, the fund returned 4.8 per cent in the past year, just shy of its legislative target of 5.5 per cent - CPI plus 4.5 per cent. But over the past decade it has returned 7.7 per cent, adding $62.3 billion to the original government contributions of $60.5 billion………………………………………..Full Article: Source

Future Fund assets up to $123b after strong fourth quarter

Posted on 02 September 2016 by VRS  |  Email |Print

The Future Fund is shifting more of its $123 billion portfolio into private investments as ultra low interest rates reduce returns and raise risks in public equity and bond markets.
Australia’s sovereign wealth fund announced a strong 4.6 per cent quarterly performance to increase its assets to $123 billion, which managing director David Neal said was boosted by successful investments in non-listed businesses. “Private markets is an area where we continue to put a lot of focus,” said Neal. He explained the fund was looking to move “away from relying on market returns which are likely to be subdued [in favour] of genuine skill based opportunistic returns”………………………………………..Full Article: Source

Australia’s Future Fund gains 4.8% in fiscal year

Posted on 02 September 2016 by VRS  |  Email |Print

Australia’s Future Fund reported a 4.8% investment return for its fiscal year ended June 30, lifting the value of its portfolio to A$122.8 billion ($91.1 billion). The Melbourne-based sovereign wealth fund’s gain for the quarter ended June 30, meanwhile, came to 4.6%.
For the first time since its launch in May 2006, Future Fund was able to report a 10-year annualized return — 7.7% — with investment gains over that period exceeding the A$60.5 billion in initial government contributions………………………………………..Full Article: Source

Alaska Permanent misses benchmark with 1.02% fiscal-year return

Posted on 02 September 2016 by VRS  |  Email |Print

Alaska Permanent Fund Corp., Juneau, returned 1.02% gross of fees for the fiscal year ended June 30, below its 1.57% performance benchmark, the $52.9 billion sovereign wealth fund announced Thursday.
Infrastructure and other real assets returned 17.59% for the fiscal year, followed by private equity at 14.38%; private markets OCIOs/real-return allocations, 9.68%; non-U.S. bonds, 7.3%; U.S. bonds, 5.29%; U.S. stocks, -0.09%; absolute return, -1.92%; global stocks, -4%; non-U.S. stocks, -9.39%; and true special opportunity, -18.71%………………………………………..Full Article: Source

Straumann Shares Fall by Most in One Year After GIC Stake Sale

Posted on 01 September 2016 by VRS  |  Email |Print

Straumann Holding AG shares fell by the most in a year after Singapore’s sovereign wealth fund GIC Pte reduced its stake in the Swiss dental-implant manufacturer.
Straumann today said GIC, its second-largest shareholder, reduced its stake in the firm from 14 percent to less than 5 percent in a sale of 1.4 million shares . GIC bought a 10 percent stake in 2012 from Straumann’s vice chairman. Its investment has nearly quadrupled since then, according to Sibylle Bischofberger, an analyst at Zuercher Kantonalbank………………………………………..Full Article: Source

Decade-old Future Fund doubles in size

Posted on 01 September 2016 by VRS  |  Email |Print

The Future Fund has doubled in size since was it created 10 years ago to stand at $123 billion, larger than former Liberal treasurer Peter Costello envisaged when he established it. But Costello, now chairman of the fund which aims to cover the unfunded liabilities of public service superannuation, has warned the investment environment is challenging, with returns likely to be lower and risks higher while global growth remains weak.
In the past decade the fund has returned 7.7 per cent, adding $62.3 billion to the original government contributions of $60.5 billion………………………………………..Full Article: Source

GIC’s and Temasek’s investee company Xiaomi lost $40 billion in value

Posted on 26 August 2016 by VRS  |  Email |Print

It was recently reported that Chinese smartphone company Xiaomi, once dubbed the “Apple of the East”, has lost US$40 billion in value over a period of 18 months. In Dec 2014, Xiaomi announced a funding round of US$1.1 billion giving it a valuation of US$45 billion. In the US$45 billion round, it wasreported that investors included the Singapore sovereign wealth fund GIC, which is tasked to manage Singapore’s reserves.
GIC’s investment in Xiaomi comes after Temasek purchased a small stake in the smartphone maker in an earlier funding exercise. It was also reported that Temasek had gone on an investment spree together with Xiaomi and its founder Lei Jun, to invest in dozens of firms across China’s mobile internet eco-system………………………………………..Full Article: Source

Qatar’s financial position ‘will remain strong over next decade’

Posted on 24 August 2016 by VRS  |  Email |Print

Qatar, whose budget will turn back to surplus in 2017, will remain in one of the strongest fiscal positions in the world over the next decade and continue to hold massive financial buffers through its sovereign wealth fund (SWF), according to BMI. “Qatar’s sovereign position will remain one of the strongest in the world,” BMI said, forecasting that the budget surplus is expected to be QR5.3bn in 2017.
Having posted large budget surpluses between 2010 and 2015 on the back of massive hydrocarbon revenues, BMI said it allowed the country to set up a SWF ‘Qatar Investment Authority’, which held $335bn (215% of gross domestic product or GDP) of assets at the end of 2015, equivalent to five times the total stock of public debt issued by the Qatari government………………………………………..Full Article: Source

SOFAZ reveals income from largest oil project

Posted on 19 August 2016 by VRS  |  Email |Print

Revenues of Azerbaijan’s state oil fund SOFAZ from the project on development of the Azeri-Chirag-Gunashli (ACG) block of oil and gas fields totaled $119.779 billion from early 2001 to August 1, 2016, the Fund told Trend.
SOFAZ said its revenues from the project totaled $2.77 billion in January-July 2016 with some $465 million being acquired in July. A landmark agreement on developing the ACG oil and gas fields was signed with a consortium of 11 foreign energy companies representing six countries in Baku in 1994, while production at the field was launched in 1997………………………………………..Full Article: Source

Norway’s SWF Up Despite 5% UK Real Estate Haircut

Posted on 19 August 2016 by VRS  |  Email |Print

Norway’s sovereign wealth fund is worth 7,177 billion NOK (US$878 billion). It was up in the second quarter of 2016 by a steady 1.3%, in spite of its real estate holdings in the UK that Norge’s Bank Investment Management’s quarterly report says it reduced by 5 percent as of June 30th.
This downward adjustment is thanks to the financial uncertainty in the UK following the country’s June 23rd referendum that saw British citizens vote to leave the EU. Over $20 billion in property fund assets have being frozen and the British pound has fallen 11% since the vote as investor confidence in the UK investments falls……………………………………….Full Article: Source

Norway’s sovereign wealth fund returns to prodit amid bond gains

Posted on 18 August 2016 by VRS  |  Email |Print

Norway’s US$890 billion (S$1.19 trillion) sovereign wealth fund, the world’s biggest, returned to gains in the second quarter even as it warned low interest rates will put pressure on returns ahead amid rising withdrawals from the government.
The Government Pension Fund Global gained 94 billion kroner (S$15.4 billion), or 1.3 per cent, after losing 0.6 per cent in the first quarter, the Oslo-based investor said on Wednesday. Its stock portfolio rose 0.7 per cent, its bond holdings gained 2.5 per cent and the real estate investments lost 1.4 per cent………………………………………..Full Article: Source

Norway’s sovereign wealth fund returns 1.3% in quarter

Posted on 18 August 2016 by VRS  |  Email |Print

Norway’s Government Pension Fund Global, Oslo, returned 1.3% in the three months ended June 30, bolstering total assets by 1.4% to 7.18 trillion Norwegian kroner ($850 billion). In a financial update Wednesday, Norges Bank Investment Management, which runs the assets of the sovereign wealth fund, said the return was equivalent to a gain of 94 billion Norwegian kroner.
That compares with a -0.6% return, or 85 billion Norwegian kroner loss, for the three months ended March 31. For the year ended June 30, assets increased 4.1%. The return for the second quarter 2015 was -0.9%, or a 73 billion Norwegian kroner loss………………………………………..Full Article: Source

World’s Biggest Wealth Fund Struggles With Market Pay Off

Posted on 17 August 2016 by VRS  |  Email |Print

Norway’s $890 billion sovereign wealth fund, the world’s biggest, may have eked out a gain in second quarter as broad stock and bond indexes rose. The fund, which release its report on Wednesday, has had losses for three of the past four quarters, struggling to navigate market turbulence at the same time as it faces the first-ever withdrawals by the government.
Pressured by a collapse in oil prices, western Europe’s biggest crude producer is planning to lift more than $10 billion from its piggy bank this year to plug budget holes………………………………………..Full Article: Source

Temasek buyout target SMRT Q1 profit down 23%

Posted on 09 August 2016 by VRS  |  Email |Print

Transport operator SMRT Corp reported on Monday (Aug 8) a 22.9 per cent year-on-year decline in profit to S$15.5 million for its fiscal first quarter, its first decline in a year, as losses in the rail business deepened.
The group, which is the subject of a S$1.18 billion proposed privatisation buyout by main shareholder Temasek Holdings, reiterated on Monday in a media conference that it will not be paying any special dividend to shareholders from the asset sale of the new rail financing framework (NRFF). On July 20, Temasek announced the acquisition of SMRT shares………………………………………..Full Article: Source

Economists see lower Temasek, GIC returns denting govt coffers

Posted on 08 August 2016 by VRS  |  Email |Print

The current brittle investment climate has weighed on Singapore’s sovereign wealth fund GIC and state investor Temasek Holdings. This will in turn affect the government’s coffers, observers told The Business Times.
They add that with both entities expecting the situation to drag on for years, there is a pressing need to review the role these contributions play in the fiscal budget. Economists point out that GIC and Temasek have ridden on earlier economic boom and bust cycles, boosting their portfolios with high asset returns………………………………………..Full Article: Source

Singapore State Investment Fund Chaired By Its Prime Minister Reports Multi-Billion Dip In Profits

Posted on 03 August 2016 by VRS  |  Email |Print

Government Investment Corporation of Singapore (GIC) which is chaired by its prime minister Lee Hsien Loong reported “a dip in its 20-year annualised real rate of return to 4 per cent” in its 2016 annual report. GIC reported a dip in its 20-year annualised real rate of return to 4 per cent from the previous year’s rate of 4.9% for the financial year ended March 31, Singapore news daily The Straits Times reports on 28 July.
According to Singaporean finance and politics news blog, statestimesreview.com, that 0.9% translates to an estimated loss of at least US$20 billion (over RM81 billion) although the report points out that the real estimate could be as high as US$50 billion to cause a 0.9% drop in 20-year annual rate of return based on a US$135 billion 20 years ago………………………………………..Full Article: Source

Russia’s Reserve Fund edges down to $38.18 bln by Aug. 1

Posted on 03 August 2016 by VRS  |  Email |Print

Russia’s Reserve Fund shrank slightly over July in dollar terms and was worth $38.18 billion as of the start of August, the finance ministry said on Tuesday. The fund was worth $38.22 billion at the start of July.
Earlier in the year the ministry had sold assets from the fund to finance the budget deficit. Deputy Finance Minister Maxim Oreshkin has said Russia may resume such sales in August. The finance ministry said on Tuesday the National Wealth Fund, the country’s other sovereign fund, was worth $72.21 billion as of Aug. 1, versus $72.76 billion a month earlier………………………………………..Full Article: Source

China’s top sovereign wealth fund quadruples in total assets in 8 years

Posted on 02 August 2016 by VRS  |  Email |Print

A report says China’s investment fund industry will continue expanding. The total assets of the top sovereign wealth fund in China have quadrupled in eight years since its founding, according to the 2015 annual report released by the China Investment Corporation.
The CIC’s total assets had grown to over $810 billion during the 8-year period, from $200 billion of registered capital in 2007. The company’s spokewoman Liu Fangyu says they have ramped up investment in assets that generate stable returns, and will further expand investment in this sector in this year………………………………………..Full Article: Source

SAMA’s net foreign assets reach $562 billion in June

Posted on 01 August 2016 by VRS  |  Email |Print

Net foreign assets at Saudi Arabian Monetary Agency (SAMA) fell by $11 billion from the previous month to $562 billion in June as the government drew down its reserves to cover a budget deficit caused by low oil prices, official data showed on Thursday.
Assets shrank 15.9 percent from a year earlier to their lowest level since early 2012. They reached a record high of $737 billion in August 2014 before starting to drop………………………………………..Full Article: Source

Singapore’s Sovereign-Wealth Fund Sees Lower Returns Ahead

Posted on 28 July 2016 by VRS  |  Email |Print

Singapore’s over $300 billion sovereign-wealth fund sees no end in sight for the era of low returns as anemic interest rates and sluggish growth weighed on one of the world’s biggest state funds.
“These difficult investment conditions can stretch for the next 10 years,” said Lim Chow Kiat, GIC Pte. Ltd.’s chief investment officer. The sovereign-wealth fund, charged with managing the country’s foreign-exchange reserves, said in its annual report that it earned a 3.7% annualized nominal rate of return over the past five years through the end of March. That compares with a 6.5% return for the five years through the end of March 2015………………………………………..Full Article: Source

Singapore wealth fund’s performance falls to three-year low

Posted on 28 July 2016 by VRS  |  Email |Print

Low interest rates, high asset valuation and political instability were expected to bring down returns for the foreseeable future, Singapore’s GIC said on Thursday as the sovereign wealth fund’s performance fell to a three-year low.
The investment group’s rolling annualised 20-year rate of return fell to 4 per cent for the year ending March 31, GIC said in its annual results. It recorded 4.9 per cent last year, the strongest results in a decade. The group does not publish single-year results and uses the 20-year annualised rate as its benchmark for performance………………………………………..Full Article: Source

GIC Warns of Muted Market Returns as Fund Performance Declines

Posted on 28 July 2016 by VRS  |  Email |Print

GIC Pte, which manages Singapore’s foreign reserves, said its key performance measure declined and warned that record-low interest rates will weigh on investment returns in the coming decade.
The sovereign wealth fund’s real rate of return fell to 4 percent in the 20-year period to March 31, from 4.9 percent in the period ended March 2015, as global stock markets posted lackluster performance and bond returns tumbled, according to GIC’s annual report Thursday. GIC doesn’t disclose annual performance figures………………………………………..Full Article: Source

CIC’s 2015 returns upset by volatile market environment

Posted on 26 July 2016 by VRS  |  Email |Print

The China Investment Corporation (CIC) saw its returns plunging into the red last year amid the dismal global economic environment. In 2015, the net annual return of its overseas investments succumbed to a loss of 2.96%, against a net gain of 5.47% in 2014.
The CIC’s latest annual report states that global stocks, commodity prices and non-US dollar currencies tumbled, introducing significant risks and challenges to its global investments. Due to volatility in international financial markets and foreign-exchange losses triggered by an appreciating US dollar, the CIC’s overseas investments generated a dollar-denominated net return of -2.96% in 2015, and a net cumulative annualised return of 4.58% since its inception in 2007………………………………………..Full Article: Source

China’s top sovereign wealth fund quadruples in total assets in 8 years

Posted on 25 July 2016 by VRS  |  Email |Print

A report says China’s investment fund industry will continue expanding. The total assets of the top sovereign wealth fund in China have quadrupled in eight years since its founding, according to the 2015 annual report released by the China Investment Corporation.
The CIC’s total assets had grown to over $810 billion during the 8-year period, from $200 billion of registered capital in 2007. The company’s spokewoman Liu Fangyu says they have ramped up investment in assets that generate stable returns, and will further expand investment in this sector in this year………………………………………..Full Article: Source

Fund return hit by commodities, strong dollar

Posted on 25 July 2016 by VRS  |  Email |Print

China Investment Corporation announced on Friday that its overseas investments generated a net return of negative 2.96 percent in dollar terms in 2015, falling from a positive 5.47 percent return for 2014, due to volatilities in international financial markets and foreign exchange losses triggered by an appreciating dollar.
The $814 billion Chinese sovereign wealth fund posted a net cumulative annualized return of 4.58 percent since its establishment in September 2007, compared with 5.66 percent in 2014………………………………………..Full Article: Source

China’s sovereign wealth fund books negative return

Posted on 25 July 2016 by VRS  |  Email |Print

China’s sovereign-wealth fund reported a nearly 3 per cent drop in returns for 2015, citing the sluggish global recovery and volatile financial markets as reasons that led to a challenging year.
China Investment had a negative 2.96 per cent return on its investment overseas, according to a statement on its website Friday. That reversed a 5.47 per cent return in 2014. Since its inception in September 2007, the fund has had an annualised return rate of 4.58 per cent, CIC said………………………………………..Full Article: Source

China sovereign wealth fund CIC profit drops 17%

Posted on 25 July 2016 by VRS  |  Email |Print

China’s sovereign wealth fund China Investment Corp (CIC) reported a 17 per cent decline in net profit last year, its lowest profit since 2011, hit by negative returns on overseas investments and huge foreign exchange losses, it said on Friday.
Net profit was US$73.9 billion in 2015, down from US$89.1 billion a year earlier, the fund said in the annual report posted on its website. CIC’s return on overseas investments declined to a negative 2.96 per cent last year, compared with a positive 5.47 per cent return in 2014………………………………………..Full Article: Source

China Sovereign Fund Has Loss on Commodities, Negative Rates

Posted on 25 July 2016 by VRS  |  Email |Print

China’s $813.8 billion sovereign wealth fund posted its first loss on overseas investments in four years last year as commodity prices sunk, while stock and bond returns were damped by negative interest rates and a strong U.S. dollar.
China Investment Corp. had a loss of 2.96 percent in the year ended December, compared with a 5.47 percent gain a year earlier, according to the Beijing-based company’s 2015 annual report released Friday. Net income at the fund, which holds government stakes in China’s biggest banks, fell 17 percent to $73.9 billion, the report showed………………………………………..Full Article: Source

China sovereign fund CIC records first loss on overseas investments in 4 years

Posted on 25 July 2016 by VRS  |  Email |Print

China’s $813.8 billion sovereign wealth fund posted its first loss on overseas investments in four years last year as commodity prices sunk, while stock and bond returns were damped by negative interest rates and a strong U.S. dollar.
China Investment Corp. had a loss of 2.96 percent in the year ended December, compared with a 5.47 percent gain a year earlier, according to the Beijing-based company’s 2015 annual report released Friday. Net income at the fund, which holds government stakes in China’s biggest banks, fell 17 percent to $73.9 billion, the report showed………………………………………..Full Article: Source

Abu Dhabi Investment Authority’s real rate of return stays steady

Posted on 25 July 2016 by VRS  |  Email |Print

Despite volatile conditions that saw equity markets end 2015 little changed from where they began, the Abu Dhabi Investment Authority, or Adia, recorded a creditable performance from an overall portfolio perspective, the world’s leading sovereign wealth fund said.
In its 2015 annual review, Adia said its 20-year annualised rates of return fell to 6.5 per cent in 2015 from 7.4 per cent the year before. The fund’s 30-year rate of return slipped to 7.5 per cent from 8.4 per cent. “This was primarily as a result of strong returns from the mid-1980s and 1990s falling out of the rolling averages over the periods in question.”……………………………………….Full Article: Source

Abu Dhabi Investment Authority’s real rate of return stays steady

Posted on 22 July 2016 by VRS  |  Email |Print

Despite volatile conditions that saw equity markets end 2015 little changed from where they began, the Abu Dhabi Investment Authority, or Adia, recorded a creditable performance from an overall portfolio perspective, the world’s leading sovereign wealth fund said.
In its 2015 annual review, Adia said its 20-year annualised rates of return fell to 6.5 per cent in 2015 from 7.4 per cent the year before. The fund’s 30-year rate of return slipped to 7.5 per cent from 8.4 per cent. “This was primarily as a result of strong returns from the mid-1980s and 1990s falling out of the rolling averages over the periods in question.”……………………………………….Full Article: Source

Norway’s sovereign wealth fund has made a killing from Pokémon Go

Posted on 21 July 2016 by VRS  |  Email |Print

Norwegian’s should be happy about the arrival of Pokémon Go - not only because they seem to be the most active players of the game in the Nordics. The Norwegian sovereign wealth fund, the largest of its kind in the world, has made big bucks from the Pokémon Go hype.
Even with Nintendo stock declining 12% today, at the time of writing, after having doubled since the release of the augmented reality mobile game, the sovereign wealth fund has made Norwegian’s over $100 million, reports E24………………………………………..Full Article: Source

Azeri state oil fund’s assets up 4.6 pct in H1 to $35.1 bln by July 1

Posted on 19 July 2016 by VRS  |  Email |Print

The assets of Azeri state oil fund SOFAZ grew by 4.6 percent to $35.1 billion in the first six months of this year, the fund said on Monday. SOFAZ holds proceeds from oil contracts, oil and gas sales, transit fees and other revenue. It uses income from investments to pay for social spending and infrastructure projects.
SOFAZ revenues reached 3.99 billion manats ($2.6 billion) in the first half of 2016, while its expenditures totalled 2.26 billion manats, the fund said in a statement. SOFAZ assets dropped by 9.5 percent year-on-year in 2015 to $33.57 billion………………………………………..Full Article: Source

SOFAZ’s revenues hit 4B manats in Q2 2016

Posted on 19 July 2016 by VRS  |  Email |Print

Budget revenues of the State Oil Fund of the Republic of Azerbaijan (SOFAZ) for the period of January-June, 2016 reached 3,991.0 million manat, while budget expenditures constituted 2,256.7 million manat, said a statement from SOFAZ July 18.
Revenue of 3,689.5 million manat was received from implementation of oil and gas agreements, including 3,680.6 million manat from the sale of profit oil and gas, 0.1 million manat as bonus payments and 8.8 million manat as transit payments………………………………………..Full Article: Source

Azerbaijan’s SOFAZ makes almost $120B from largest oil project

Posted on 18 July 2016 by VRS  |  Email |Print

Revenues of the State Oil Fund of Azerbaijan (SOFAZ) from the project for development of the Azeri-Chirag-Gunashli (ACG) block of fields totaled $119.314 billion from early 2001 to July 1, 2016, SOFAZ told Trend.
SOFAZ said its revenues from the project totaled $2.305 billion in H1 2016; out of this, $504 million accounted for June. A contract for development of ACG block of oil and gas fields was signed in 1994. The proven oil reserves of the block near one billion tons………………………………………..Full Article: Source

The world’s top ten biggest sovereign wealth funds

Posted on 15 July 2016 by VRS  |  Email |Print

In the midst of collapsing oil prices, oil-funded sovereign wealth funds (SWFs) are under pressure to liquidate assets, according to political risk advisory firm GeoEconomica. There was roughly a 20 per cent fall over the past year in the deposits and reserves stored in the Saudi Arabian Monetary Agency (SAMA) by the Saudi government, according to estimates. This suggests that oil giants such as Saudi Arabia are now seeking to protect their budgets against dramatically declining revenues.
SWFs are managed separately from a county’s official currency reserves. They are pools of money the government stores in funds or corporations to generate profits. The funds have an original purpose of reducing the volatility of government revenues and help counter any drops in the national economy………………………………………..Full Article: Source

The world’s 10 biggest sovereign wealth funds

Posted on 14 July 2016 by VRS  |  Email |Print

In the midst of collapsing oil prices, oil-funded sovereign wealth funds (SWFs) are under pressure to liquidate assets, according to political risk advisory firm GeoEconomica. There was roughly a 20 per cent fall over the past year in the deposits and reserves stored in the Saudi Arabian Monetary Agency (SAMA) by the Saudi government, according to estimates.
This suggests that oil giants such as Saudi Arabia are now seeking to protect their budgets against dramatically declining revenues. SWFs are managed separately from a county’s official currency reserves. They are pools of money the government stores in funds or corporations to generate profits………………………………………..Full Article: Source

Sovereign wealth funds’ India holdings at a record high

Posted on 12 July 2016 by VRS  |  Email |Print

Sovereign wealth funds held Rs2.18 trillion in Indian equities and Rs330.16 billion worth of Indian debt in May. Anybody who thought that sovereign funds are on their way out may be in for a surprise.
An analysis of foreign portfolio investor (FPI) data by investor category shows that their holdings in Indian debt and equity securities has hit a new high. These funds from oil-rich countries were expected to be sellers in Indian markets because of the correction in crude and the resultant stress back home………………………………………..Full Article: Source

Rough ride for Temasek too

Posted on 11 July 2016 by VRS  |  Email |Print

Investors everywhere have been in for a rough ride since last year, and Temasek Holdings is no exception. The Singapore investment company has suffered its first portfolio decline since the 2009 global financial crisis, pointing to more tough times ahead.
The firm’s net portfolio value fell to $242 billion for the financial year ended March 31, down from $266 billion a year ago. The decline was not surprising - about three-fifths of Temasek’s holdings are tied up in listed assets, which means weak stock markets around the world were a significant drag………………………………………..Full Article: Source

Temasek returns -9% in FY2016 - its worst showing since 2009

Posted on 08 July 2016 by VRS  |  Email |Print

Temasek continues to increase investments in technology-leveraged companies, as weakness in its listed investments, particularly its more traditional holdings in China and financial services, dragged the Singapore government-owned investment company to its first one-year negative return since 2009.
Its net portfolio value shrank by 9.02 per cent to S$242 billion in 2016. Over a three-year period, Temasek’s total shareholder return was 3.25 per cent in Singapore-dollar terms; over a 20-year period, total shareholder return was 6 per cent………………………………………..Full Article: Source

Singapore’s Temasek mulls over US deals to offset drop in portfolio performance

Posted on 08 July 2016 by VRS  |  Email |Print

Singapore’s sovereign wealth fund Temasek Holdings (Temasek) is eyeing US deals and co-investments with private equity partners to offset what is expected to be the first annual decline in the value of its assets in seven years, according to Reuters.
Temasek, which holds a 16% stake – and is the biggest shareholder – in London-based Standard Chartered, has seen the value of its stakes depressed by 55% over the past financial year, aggravated partly by the Brexit effect. Meanwhile, its Asian investments have been hit by the effects of China’s economic slowdown………………………………………..Full Article: Source

Temasek Assets Likely Fell First Time Since 2008 on China Rout

Posted on 07 July 2016 by VRS  |  Email |Print

Temasek Holdings Pte’s portfolio probably declined for the first time in seven years as stock markets plunged amid a slowing Chinese economy and uncertainty over U.S. Federal Reserve policy.
The value of the Singapore state investment firm’s holdings decreased by 13 percent to S$231 billion ($170.6 billion) in its fiscal year ended March 31, according to an estimate by CIMB Private Banking. That would be the first decline since the 12 months ended March 2009. Temasek’s assets rose to a record S$266 billion in the prior fiscal year………………………………………..Full Article: Source

Saudi Arabia, Abu Dhabi among largest sovereign wealth funds

Posted on 07 July 2016 by VRS  |  Email |Print

Saudi Arabia’s SAMA Foreign Holdings fund was ranked fourth in the list of the world’s largest sovereign wealth funds, despite its assets falling by $33.9 billion to $598.4 billion by the end of Q2-2016, the Sovereign Wealth Fund Institute (SWFI) said in its monthly report for June.
The kingdom’s Public Investment Fund (PIF) maintained its position as the 13th largest sovereign wealth fund with assets amounting to $160 billion in the same period. Meanwhile, the Abu Dhabi Investment Authority (ADIA) remained second on the list, with assets growing by $19 billion to $792 billion………………………………………..Full Article: Source

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