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NSIA Rakes in N1.2bn by Investing 20% of SWF

Posted on 25 June 2014 by VRS  |  Email |Print

As a result of its investment strategies, the Nigerian Sovereign Investment Authority (NSIA) has revealed that it earned N1.2 billion as at the end of the first quarter of 2014 by investing only 20 per cent of the Sovereign Wealth Fund (SWF). The agency stated that its first quarter 2014 performance was wholly in line with its projections.
The Managing Director, NSIA, Mr. Uche Orji, who revealed this while briefing the media in Lagos also said that the agency’s audited net profit for the period stood at N1.2 billion. He pointed out that with the changing interest rate landscape in key global markets, the NSIA would be adjusting its asset allocation strategies to take advantage of inherent benefits………………………………………..Full Article: Source

Heritage Fund earns $852 million more than expected in 2013

Posted on 25 June 2014 by VRS  |  Email |Print

The Alberta Heritage Savings Trust Fund earned $2.1 billion in interest in 2013-14, with a record 16-per-cent return on investment. The heritage fund is Alberta’s long-term savings account. It currently holds roughly $17.5 billion. Established in 1976, it was originally meant to save non-renewable resource revenue for future generations.
In recent years, the government has transferred most of the interest to general revenues to be spent. In total, interest from the fund has contributed roughly $36.5 billion to pay Alberta’s annual expenses. Over the next three years, however, the money taken out of the fund will be gradually reduced to zero………………………………………..Full Article: Source

Alberta heritage fund earned $2.1B in 2013-14

Posted on 25 June 2014 by VRS  |  Email |Print

The Alberta government says its nest egg earned $2.1 billion in the last fiscal year — a 16 per cent rate of return. The value of the Heritage Savings Trust Fund now sits at $17.5 billion.
Most of the money earned is being moved into general revenue to pay for government programs. Just under $200 million is being kept in the fund, as required by law, to protect against inflation………………………………………..Full Article: Source

Nigeria: Sovereign Wealth Fund yields N1.2bn profit in Q1

Posted on 23 June 2014 by VRS  |  Email |Print

The Nigeria Sovereign Investment Authority has announced a profit of N1.2bn from its investment of the Sovereign Wealth Fund for the first quarter of this year, up from the N525m made in the 15-month period ended December 31, 2013.
In what may be considered a justification of the decision of the Federal Government to set up the SWF to save some portion of the money realised from the sale of crude oil, the NSIA also expressed optimism that it would match if not surpass the first quarter profit margin when the result of the second quarter audit was ready………………………………………..Full Article: Source

Auditor blames CIC

Posted on 19 June 2014 by VRS  |  Email |Print

Mismanagement at China Investment Corp, the nation’s US$575 billion sovereign wealth fund, led to overseas investment losses that could widen, according to the National Audit Office.
A dereliction of duty by managers and inadequate due diligence and post- investment management were identified in 12 investments made abroad by the fund between 2008 and 2013, according to results of an audit conducted last year. Six of the deals were unprofitable, four of them had unrealized losses, and two may potentially lose money. The report released yesterday did not name the investments or disclose their size………………………………….Full Article: Source

ECA rises to N3.73bn as govts share N648.349bn in May

Posted on 18 June 2014 by VRS  |  Email |Print

Federal Government announced N3.73 billion as the balance in the Excess Crude Account saying that the amount rose from N3.6 billion in April to the level in May. Addressing newsmen in Abuja, the Accountant General of the Federation, Mr Jonah Otunla, also revealed N648.349 billion was the total allocation shared by the three ters of government.
The amount represented N582.934 billion Statutory Allocation and N65.415 billion realised from the Value Added Tax (VAT), making the total distributable revenue for the month to be N648.349 billion which when compared to last month, is N49.177 billion higher, adding that the total allocation to SURE-P as ususaI, is N35.55 billion………………………………………..Full Article: Source

GCC states spread the wealth around

Posted on 16 June 2014 by VRS  |  Email |Print

The Gulf Cooperation Council (GCC) maintains a quite substantial sovereign wealth funds (SWFs), and much to their credit, they invest these across a wide global footprint. In fact, they have a track record of showing readiness to contribute handsomely to solve critical global financial problems. This was put to display at the height of sub-prime market crisis in 2008, with the GCC contributing generously to a special fund to help those hit with the calamity.
Three other GCC member-states maintain sizeable SWFs, specifically $743 billion for Saudi Arabia, $410 billion for Kuwait and $170 billion for Qatar. Oman and Bahrain maintain relatively smaller — by regional standards — funds of $19 billion and $11 billion………………………………………..Full Article: Source

SOFAZ earned huge money from Shah Deniz, ACG projects

Posted on 11 June 2014 by VRS  |  Email |Print

Azerbaijan’s state oil fund SOFAZ has gained about $1.853 billion from 2007 to June 1, 2014 by implementing the development project of the giant Shah Deniz gas condensate field in the Caspian Sea. SOFAZ earned some $256 million as part of the Shah Deniz project from January 1 to June 1, SOFAZ told Trend Agency.
The Shah Deniz field, one of the world’s largest gas-condensate fields, was discovered in 1999. Its reserves are estimated at 1.2 trillion cubic meters of gas. Overall, the field has proved to be a secure and reliable supplier of gas to Azerbaijan, Georgia, Turkey, and Europe………………………………………..Full Article: Source

Khazanah registers higher pre-tax profit of RM3.1 billion for 2013

Posted on 11 June 2014 by VRS  |  Email |Print

Khazanah Nasional Bhd registered a higher pre-tax profit of RM3.1 billion for the financial year ended December 31, 2013 from RM2.1 billion recorded in the 2012 financial year. In a statement, Khazanah Nasional said total revenue for the 2013 financial year amounted to RM7.6 billion which comprised dividend income of RM6.6 billion.
The government’s strategic investment fund today released the “Khazanah Report 2013″ and “GLC Transformation Programme Progress Review 2014″ at the Invest Malaysia 2014 conference………………………………………..Full Article: Source

Excess crude oil account hits $3.45 billion

Posted on 10 June 2014 by VRS  |  Email |Print

The Excess Crude Account (ECA), which stood at $2.11 billion in April, has increased by $1.34 billion, bringing the total savings in the till to $3.45 billion. The new figure represents an increase of about 63.5 percent, reports Leadership
The Minister of Finance, Dr. Ngozi Okonjo-Iweala, confirmed the rise on in a statement issued by her Media Assistant, Paul Nwabiuku. She said the rise in the ECA signals the federal government’s commitment to rebuilding the country’s fiscal buffers………………………………………..Full Article: Source

SOFAZ earns over $100 bln over 13 years

Posted on 06 June 2014 by VRS  |  Email |Print

Azerbaijan’s State Oil Fund (SOFAZ) has earned more than $100 billion ($1 = 0.78390 AZN) in the period of 2001-2013. This was said in fund’s last report released on June 4.
About 64 percent, or $64.23 billion of SOFAZ revenue earned in the past 13 years were allocated for investment, while the remaining 36 percent ($35.88 billion) were deposited in the saving account of the fund. Meanwhile, the volume of fund’s income amounted to $17.33 billion in 2013, which is slightly lower than 2012 ($17.41 million)………………………………………..Full Article: Source

Long-term assets of SOFAZ exceed $1,5 bln in 2013

Posted on 05 June 2014 by VRS  |  Email |Print

Assets of Azerbaijani State Oil Fund (SOFAZ) amounted to about 28,31 billion manat in 2013, compared to over 26,89 billion manat in 2012, the company’s official report said on June 4.
According to the report, some 27,09 billion manat from the overall assets accounted for current assets, while about 1,22 billion - for long-term assets. As stated in the report, SOFAZ received 13,6 billion manat (against the approved 11,48 billion manat in the fund’s budget)………………………………………..Full Article: Source

Mumtalakat gross profits go up 135%

Posted on 05 June 2014 by VRS  |  Email |Print

Bahrain Mumtalakat Holding Company (Mumtalakat), the investment arm of the Kingdom of Bahrain, today announced its full year financial results for 2013.
The results reflect the solid financial and operational performance across the Mumtalakat group, constituting of 38 portfolio companies, (Group) and demonstrate significant progress in the implementation of strategic initiatives undertaken in 2012………………………………………..Full Article: Source

Bahrain’s SWF posts profits rebound as Gulf Air recovers

Posted on 05 June 2014 by VRS  |  Email |Print

Bahraini sovereign fund Mumtalakat swung back into profit in 2013 because of an improved performance at Gulf Air and lower impairment losses, it said on Wednesday.
The fund, fully owned by the Bahraini state but run on a commercial basis, made a net profit of BD82.7 million ($219 million) in 2013 compared with a net loss of BD181.7 million in the previous year, a statement to Reuters said………………………………………..Full Article: Source

Worth of Global SWFs swells to $6.46t in first quarter

Posted on 03 June 2014 by VRS  |  Email |Print

The total worth of all Sovereign Wealth Funds (SWFs) in the world jumped by $955 billion to $6.46 trillion in the first quarter of 2014 compared to same period last year and Abu Dhabi Investment Authority (Adia) is ranked second globally with $773 billion assets, revealed Sovereign Wealth Fund Institute in its latest update.
According to the Institute, an American organisation that tracks SWF performance, Adia made $7.93 billion of deals last year, behind only funds from Norway, which has $838 billion assets. Adia is one of the longest-established and largest sovereign wealth funds in the world………………………………………..Full Article: Source

UAE SWF assets to increase to Dh3.57trn

Posted on 02 June 2014 by VRS  |  Email |Print

The UAE sovereign wealth fund assets are expected to reach $975 billion (Dh3.578trn) this year, making up 43 per cent the total SWF assets held by the GCC countries.
According to global trade credit insurance company Euler Hermes, the Gulf Cooperation Council (GCC) countries’ sovereign wealth fund assets are forecast to reach $2.25 trillion (Dh8.25trn) in 2014. The UAE is followed by Saudi Arabia with SWF assets totalling $680 billion (Dh2.49 trillion), followed by Kuwait, Qatar, Oman and Bahrain…………………………………..Full Article: Source

SOFAZ revenues exceed 3 billion manats

Posted on 22 May 2014 by VRS  |  Email |Print

The budget revenues of Azerbaijan’s state oil fund SOFAZ reached 3.005 billion manats in the first three months of 2014. SOFAZ’s budget expenditures amounted to over 2.443 billion manats in the mentioned period.
The revenues were received from the implementation of oil and gas agreements, including over 2.99 billion manats from the sale of profit oil and gas, 2.3 million manats for transit payments, and 13.3 million manats for bonus payments, SOFAZ said on May 20…………………………………….Full Article: Source

SOFAZ’s assets exceed $36 bln

Posted on 21 May 2014 by VRS  |  Email |Print

The budget revenues of the State Oil Fund of Azerbaijan (SOFAZ) for the period of January-March, 2014 reached 3,005.0 million manats, while budget expenditures constituted 2,443.3 million manats, according to a message from the SOFAZ.
Revenue of 3,006.8 mln. manats was received from the implementation of oil and gas agreements, including 2,991.2 mln. manats from the sale of profit oil and gas, 2.3 mln. manats as transit payments, 13.3 mln. manats as bonus payments. As per January-March 2014 budget of the fund, 2,342.6 mln. manats were transferred to the state budget…………………………………Full Article: Source

SOFAZ gets 2.07% rise in assets

Posted on 21 May 2014 by VRS  |  Email |Print

State Oil Fund of Azerbaijan has made public information on revenues and expenditures for January-March, 2014. SOFAZ told APA-Economics that the budget revenues for the period of January-March, 2014 reached 3,005.0 million manats, while budget expenditures constituted 2,443.3 million manats.
Revenue of 3,006.8 mln. manats was received from the implementation of oil and gas agreements, including 2,991.2 mln. manats from the sale of profit oil and gas, 2.3 mln. manats as transit payments, 13.3 mln. manats as bonus payments…………………………………Full Article: Source

The assets of the State Oil Fund of Azerbaijan exceeded $36.6 bn and gold assets – 30.1 tons

Posted on 21 May 2014 by VRS  |  Email |Print

The State Oil Fund of Azerbaijan (SOFAZ) announces about growth of its assets by 2.07% in Q1 2014. According to the SOFAZ, over the first quarter its assets have grown from $35.877 bn up to $36.618 bn.
“Starting from the first quarter of 2012 the Oil Fund has begun purchase of gold and the amount of purchased gold as of April 1, 2014 was 30 tons 175 kg (970 146 ounces)”, - the SOFAZ informs. As of April 1, the total investment portfolio of the SOFAZ was estimated at the level of $36.343 bn…………………………………Full Article: Source

UAE’s sovereign wealth funds seen at $975 billion

Posted on 19 May 2014 by VRS  |  Email |Print

The volume of syndicated assets of the UAE sovereign wealth funds (SWF) touched $975 billion by the end of last April. By this, the UAE is the second richest country in the world in terms of the value of assets of sovereign wealth, according to the latest releases by the Washington-based Sovereign Wealth Fund Institute.
Abu Dhabi Investment Authority (ADIA) also maintained its position as the world’s second largest sovereign wealth fund with assets of $773 billion. Across the UAE, the Investment Corporation of Dubai ranked second with assets estimated at $70 billion, followed successively by the International Petroleum Investment Company (IPIC) with $65.3 billion, Mubadala Development Company with $55.5 billion, Emirates Investment Authority with 10 billion and RAK Investment Authority with $1.2 billion…………………………………..Full Article: Source

Kuwait’s gAA3(pi) rating anchored by fiscal and external strength

Posted on 16 May 2014 by VRS  |  Email |Print

The ratings take into account Kuwait’s stellar fiscal and current-account surpluses and very low level of public debt, as well as the considerable size of its sovereign wealth fund and other foreign assets. The country’s over-dependence on the oil- related sector and weak business environment relative to its GCC peers have also been factored into RAM’s assessment.
“The run-up in global crude prices has made Kuwait one of the world’s wealthiest nations per capita,” notes Esther Lai, RAM’s Head of Sovereign Ratings. “Kuwait’s sovereign wealth fund – estimated as the fifth-largest in the world – acts as a strong buffer against shocks and provides some form of revenue diversification through the investment income it receives. Moreover, the country’s public debt is negligible. Taken together, these factors reinforce the strength of Kuwait’s public finances,” emphasises Lai………………………………………..Full Article: Source

Wealth Fund Growth Boosts Norway’s Budget as Economy Slows

Posted on 15 May 2014 by VRS  |  Email |Print

Norway’s new government is tapping more oil revenue than previously estimated this year to support a slowing expansion in Scandinavia’s richest nation.
The government will use a record 140.9 billion kroner ($24 billion), of its oil revenue to plug budget deficits, up from 139 billion kroner estimated in November, according to a budget handed out in Oslo today. That’s equal to 2.8 percent of the wealth fund, down from a 2.9 percent estimate in November………………………………………..Full Article: Source

Asia-Pacific funds to hit $14 trln by 2018, yielding $66 bln in fees - consultant

Posted on 09 May 2014 by VRS  |  Email |Print

Assets managed by money managers in the Asia-Pacific region will surge 40 percent to $14 trillion by 2018, generating fees worth $66 billion, consultant Casey, Quirk & Associates LLC said in a study released Thursday.
Sovereign wealth funds and government entities, on the other hand, will prove harder clients to target as they move to manage assets internally, the consultant said………………………………………..Full Article: Source

Investment Corporation of Dubai reveals first financial results

Posted on 08 May 2014 by VRS  |  Email |Print

Dubai’s state holding company has for the first time revealed financial results, as the Gulf emirate seeks to tempt investors back to its reviving economy.
The Investment Corporation of Dubai (ICD), owner of many of Dubai’s corporate jewels, such as the Emirates airline, the airport duty-free business and Emaar, a property developer, unveiled the detailed numbers as part of a move to raise about $750m in its first Islamic bond issue………………………………………..Full Article: Source

Norway SWF returns 1.7 per cent in Q1 2014

Posted on 05 May 2014 by VRS  |  Email |Print

The Sovereign Wealth Fund returned ‘a moderate’ NOK 78bn (1.7%) in the first quarter of 2014, according to a statement. Fixed-income investments returned 2 per cent and equity investments 1.5 per cent, say Norges Bank Investment Management.
The return on these investments was just 0.01 per cent higher than the return on benchmark indices, whilst investments in real estate returned 2 per cent. “All asset classes contributed positively to the result, and there were only minor differences between them. The return was boosted by lower interest rates in the fund’s main markets,” said NBIM managing director Yngve Slyngstad………………………………………..Full Article: Source

Bahrain wealth fund about to see spectacular growth

Posted on 05 May 2014 by VRS  |  Email |Print

Bahrain’s national holding company and sovereign wealth fund has weathered several years of losses and is about to see spectacular growth, the charismatic Chief Executive Officer Mahmoud Hashim Al Kooheji told Gulf News. He says that Mumtalakat’s major loss maker Gulf Air is being turned round, Alba remains on track with substantial profit, and the whole group is benefiting from the discipline of Mumtalakat’s insistence on good governance and transparency.
Al Kooheji backs his infectious optimism with hard numbers, and says that despite Mumtalakat’s assets dropping from just over 5 billion Bahraini dinars (Dh48.71 billion) in 2012 to just over 4 billion dinars in 2010, he expects them to double to 8 billion dinars in 2019………………………………………..Full Article: Source

Assets of Iran’s National Development Fund reach $60 bln

Posted on 05 May 2014 by VRS  |  Email |Print

Assets of the National Development Fund (NDF) of Iran amount to $60 billion, the deputy director general of the fund has announced. “The NDF’s reserves were around $54 billion when president Hassan Rouhani took the office last August, and since then the figure has reached $60 billion, deputy director general of the NDF,” Qasem Hosseini told Trend on May 2.
Hosseini went on to say that the fund isn’t facing any problems, and the situation is desirable. The NDF is Iran’s sovereign wealth fund. It was founded in 2011 to replace Oil Stabilization Fund………………………………………..Full Article: Source

Norwegian sovereign wealth fund gains 1.7% in first quarter

Posted on 02 May 2014 by VRS  |  Email |Print

Norway’s Government Pension Fund Global said on Wednesday that its portfolio gained a mere 1.7% in the first quarter, the lowest return for the world’s largest sovereign wealth fund since the second quarter of last year.
The so-called “oil fund” saw its equities holdings, which account for almost two-thirds of its 5.1 trillion kroner (€618.6bn) in assets under management, appreciate by 1.5% in the three months to March 31, while fixed income investments delivered returns of 2%………………………………………..Full Article: Source

Future Fund ranked 12th biggest in the world

Posted on 30 April 2014 by VRS  |  Email |Print

The taxpayer-owned Future Fund is on the cusp of passing the $100 billion threshold for assets under management, cementing its position as one of the world’s largest sovereign wealth funds. Propelled by rising equity markets, the fund returned 9.8 per cent in the year to March, with quarterly returns of 1.1 per cent, it said on Tuesday.
The rise meant it held $97.6 billion in assets at the end of last month. The federal government has contributed $60.5 billion to the fund since its formation in 2006, and the rest of its assets have come from investment returns………………………………………..Full Article: Source

Future Fund and super returns on par

Posted on 29 April 2014 by VRS  |  Email |Print

The Future Fund has achieved rolling 3 year returns of about 9.5% pa, putting the de facto sovereign wealth fund on par with workplace super funds when the Future Fund’s tax-free and member-free status is taken into account. The $98 billion Future Fund has just released its March 2014 portfolio update and advised that so far this financial year it has earned 9.8% and that it is opening up a big gap over CPI+4.5% performance benchmark.
Preliminary super fund performance results from Rainmaker’s March 2014 SelectingSuper survey shows super fund workplace default investment options to be returning 8.4% pa, indicating the Future Fund’s is on par with these leading institutional investors after allowing for tax and fee differences………………………………………..Full Article: Source

1MDB net profit up 74pct to RM778mln

Posted on 22 April 2014 by VRS  |  Email |Print

1Malaysia Development Bhd, the government’s sovereign wealth fund, saw its net profit surge 74% to RM778.24 million for the year ended March 31, 2013 from RM44.72 million a year before.
Revenue in the same 12-month period grew four times to RM2.59 billion from RM633.2 million previously. However, its liabilities, basically its debts or obligations, ballooned more than five times to RM42.3 billion from RM8.4 billion as at the end of the financial year March 31, 2012………………………………………..Full Article: Source

Global fund assets to top $100 trillion on real estate boom, PwC says

Posted on 22 April 2014 by VRS  |  Email |Print

Global fund assets are projected to grow by 60% to $101.7 trillion by 2020, fuelled by the shift toward individual retirement plans, a surge in high-net-worth individuals in emerging markets and growth in sovereign wealth fund (SWF) assets, PwC says.
Rapid urbanisation and demographic changes, especially within emerging markets, will lead to substantial growth in the real estate investment industry over the next six years. This will prompt institutional investors to raise allocations in real estate more than in other asset classes, according to Real Estate 2020: Building the future, a report from PwC………………………………………..Full Article: Source

1MDB net profit up 74pct to RM778mln

Posted on 17 April 2014 by VRS  |  Email |Print

1Malaysia Development Bhd, the government’s sovereign wealth fund, saw its net profit surge 74% to RM778.24 million for the year ended March 31, 2013 from RM44.72 million a year before. Revenue in the same 12-month period grew four times to RM2.59 billion from RM633.2 million previously.
However, its liabilities, basically its debts or obligations, ballooned more than five times to RM42.3 billion from RM8.4 billion as at the end of the financial year March 31, 2012. 1MDB’s balance sheet showed that its non-current liabilities, that could include long-term borrowing, bonds payable and long-term lease obligations, almost quadrupled to RM30.6 billion from RM7.8 billion previously………………………………………..Full Article: Source

Singapore’s Keppel Corp Q1 net profit falls 5 pct

Posted on 17 April 2014 by VRS  |  Email |Print

Singapore’s Keppel Corporation Ltd said on Wednesday its net profit in the first quarter dropped 5 percent on the year to S$339 million ($270.46 million). Singapore’s state investor Temasek Holdings owns a stake of more than 20 percent in Keppel.
Keppel is the world’s top offshore jackup drilling rig producer and has business in property development and infrastructure. The firm booked revenue of nearly S$3 billion for the quarter, up 8.6 percent from a year earlier, it said in a statement………………………………………..Full Article: Source

Excess Crude Account rises to $3.6bln FG, states, LGs share N641.3bln in March

Posted on 17 April 2014 by VRS  |  Email |Print

It emerged Tuesday that the Excess Crude Account (ECA) now stands at about $3.6 billion compared to $3.4 billion in February. The Accountant General of the Federation (AGF), Mr. Jonah Otunla, disclosed this after the monthly meeting of the Federation Account Allocation Committee (FAAC) which also yesterday shared a total distributable revenue amounting to N641.38 billion among the three tiers of government March.
Also, the committee also voted unanimously at its plenary to remove oil subsidy from its books, according to Chairman, Commissioners of Finance Forum, Mr. Timothy Odah. He said their resolution would be communicated to the presidency for immediate action………………………………………..Full Article: Source

Qatar-backed Tiffany & Co reports Q4 loss

Posted on 07 April 2014 by VRS  |  Email |Print

Tiffany & Co., the US luxury jewellery retailer in which the Qatar Investment Authority owns an 8.7 percent stake, reported fourth quarter results that were up on an ongoing basis in spite of the economic environment, but were turned into a loss by an unfavourable arbitration ruling.
The company incurred a net loss for the quarter ended January 31, 2014 (fiscal 2013) of $103.6m, compared to net income of $179.6m in the fourth quarter of fiscal 2012………………………………………..Full Article: Source

Temasek not the usual sovereign wealth fund

Posted on 02 April 2014 by VRS  |  Email |Print

Whenever Temasek Holdings opens a new office outside of Singapore, it is “not indicative of some radical shift” in the investment company’s approach, said its chairman Lim Boon Heng.
“Coming from a little island nation with no natural resources except for some granite rocks, we are not a sovereign wealth fund in the normal sense of the term,” he said. “Instead, we invest capital accumulated from generations of hard work and commitment by everyone in Temasek and the Temasek portfolio companies,” said Mr Lim in a speech at the Millennium Mayfair Hotel……………………………..Full Article: Source

Adia among leaders in record year for sovereign wealth funds

Posted on 02 April 2014 by VRS  |  Email |Print

Sovereign wealth funds (SWFs), the big government-owned investing institutions, had a year of record activity in 2013, with the highest levels ever of direct transactions, showing a strong recovery from the financial crisis.
According to the Sovereign Wealth Fund Institution, an American organisation that tracks SWF performance, some $174 billion of direct transactions took place during the year, way ahead of 2012’s $65.09bn……………………………..Full Article: Source

Nigeria: SWF Posts N505.6mln Income in 15 months

Posted on 02 April 2014 by VRS  |  Email |Print

The Nigeria Sovereign Investment Authority (NSIA) which is responsible for the management of Nigerian Sovereign Wealth Fund (SWF) has reported a total income of N505.694 million for the 15 months which ended December 2013.
According to the results audited by PricewaterhouseCoopers and made available to THISDAY, NSIA recorded a gross operating income of N1.466 billion and non-operating income of N495 million, bringing the total gross income to N1.961billion……………………………..Full Article: Source

Superannuation fund returns top 10pct, says Chant West

Posted on 19 March 2014 by VRS  |  Email |Print

The average Australian superannuation fund has posted a return of more than 10 per cent in the first eight months of the financial year, according to research house Chant West. The median growth fund returned 2.1 per cent in February, taking the return for fiscal 2014 so far to 10.8 per cent, the firm said.
The average fund is up 13.1 per cent compared with a year ago and 7.1 per cent compared with 10 years ago………………………………………..Full Article: Source

Nigeria: Excess Crude Account rises to U.S.$3.45 bln

Posted on 18 March 2014 by VRS  |  Email |Print

Following last week’s meeting of the Federation Allocation Accounts Committee (FAAC), the Excess Crude Account (ECA) has increased by $1.34 billion. This is as the Consumer Price Index (CPI) which measures inflation, in February moderated to 7.7 per cent year-on-year from 8.0 per cent the previous month.
According to the National Bureau of Statistics (NBS), the moderation in year-on-year rates in February was as a result of higher year-on-year changes exhibited in February 2013. The federal ministry of finance made this known yesterday in a statement by the special adviser to Mrs Okonjo-Iweala, Paul Nwabuikwu………………………………………..Full Article: Source

Norway examines return calculations for $850 bln wealth fund

Posted on 18 March 2014 by VRS  |  Email |Print

Norway is examining new ways to calculate returns generated by the world’s biggest sovereign wealth fund in a move that could affect how much oil revenue the government uses in its budgets.
The Finance Ministry has ordered Statistics Norway to find out how different deflators, which adjust returns for inflation, will affect returns. The government is due next month release a white paper assessing the fund’s strategy and performance………………………………………..Full Article: Source

Norway’s wealth eroding competitiveness

Posted on 13 March 2014 by VRS  |  Email |Print

Norway’s export industry is buckling under the weight of the country’s wealth. Prime Minister Erna Solberg says that Scandinavia’s richest nation now needs to rein in budget spending to stop eroding trade competitiveness.
Backed by a US$850 billion sovereign wealth fund, Norway is struggling to spur growth as wages that far exceed the European average hold back the economy. That’s killing jobs in a nation that has been accustomed to having one of Europe’s lowest unemployment rates………………………………………..Full Article: Source

China wealth fund’s overseas returns weaken

Posted on 06 March 2014 by VRS  |  Email |Print

China Investment Corp. reaped returns of more than 8% from its overseas assets last year, according to a top official, indicating a potential weakening in the giant sovereign-wealth fund’s previous bets on commodities and the developing world.
CIC Executive Vice President Liang Xiang didn’t give a specific figure for the returns last year. By comparison, CIC has said it recorded overseas returns of 10.65% in 2012. “Though there was great volatility in the financial market last year, we adjusted our strategy in time and achieved a quite good result,” Ms. Liang said on the sidelines of the National People’s Congress, which opens its annual session on Wednesday………………………………………..Full Article: Source

CIC 2013 overseas investment return above 8pct -Official

Posted on 06 March 2014 by VRS  |  Email |Print

Sovereign wealth fund China Investment Corp. posted overseas investment returns of more than 8% last year, its executive vice president Liang Xiang said Wednesday. It recorded overseas returns of 10.65% in 2012.
“Though there was great volatility in the financial market last year we adjusted our strategy in time and achieved a quite good result,” Ms. Liang said on the sidelines of the National People’s Congress which opens its annual session on Wednesday………………………………………..Full Article: Source

Norway’s smaller pension fund also impresses

Posted on 06 March 2014 by VRS  |  Email |Print

Norway’s massive wealth funds are easy to mix up. But both are booming and giving 5 million Norwegian citizens a healthy dollop of security for decades to come.
The oil fund – also known as Norwegian Government Pension Fund Global — is the world’s largest sovereign wealth fund that invests money globally, and its $840 billion is available for unspecified needs of future generations. Last week, the fund said it returned 16% for 2013, the second best performance since its founding in 1996………………………………………..Full Article: Source

Khazanah must explain losses at Malaysia Airlines, says parliamentary committee head

Posted on 05 March 2014 by VRS  |  Email |Print

Khazanah Nasional Bhd’s highly paid executives may owe the public an explanation why losses at national carrier Malaysia Airlines ballooned to RM1.2 billion last year, the head of an influential parliamentary committee said.
“They still can’t solve the problem of MAS. We can call them but they are more qualified than us. They are highly qualified people who are paid world standard salaries, so they should do more,” Public Accounts Committee (PAC) chief Datuk Nur Jazlan Mohamed said of government investment arm Khazanah………………………………………..Full Article: Source

Norway pension fund makes strides

Posted on 04 March 2014 by VRS  |  Email |Print

The Norwegian Government Pension Fund Global achieved returns of 15.9% in 2013 as its equity investments outperformed benchmarks, helping the fund break the $800 billion (€600bn) mark.
The fund’s value rose by around $200 billion (NOK1.2trn), to $830 billion (NOK5trn). More than 55% of that came from investment returns, while the remainder of the fund’s increase came through capital inflows from the government and returns on currency conversion………………………………………..Full Article: Source

Alaska Permanent Fund hits record value: $50bln

Posted on 04 March 2014 by VRS  |  Email |Print

The Alaska Permanent Fund has hit a record-high value. The total value for the fund hit an unaudited value of $50 billion on Thursday, according to the Alaska Permanent Fund Corp. The corporation manages fund investments.
The fund is a state nest egg built in part from Alaska oil revenue. Michael Burns is CEO of the corporation. He says close to half of the fund is invested in stocks, which had a strong year in 2013 and helped the fund to grow by more than $5 billion over the last year………………………………………..Full Article: Source

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