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Investments in real estate return 11.8 pct for Norway’s wealth fund

Posted on 03 March 2014 by VRS  |  Email |Print

Real estate investments returned 11.8 percent for Norway’s $840 billion sovereign wealth fund in 2013, the fund’s manager announced.
In the fund’s second-best year ever, the Government Pension Fund Global returned 15.9 percent, or $115 billion, overall, according to the Norges Bank Investment Management. The fund’s equity investments returned 26.3 percent, while fixed-income investments returned 0.1 percent………………………………………..Full Article: Source

Alaska Permanent Fund tops $50 bln

Posted on 03 March 2014 by VRS  |  Email |Print

The Alaska Permanent Fund is bigger than ever, topping $50 billion, the Alaska Permanent Fund Corporation announced Friday. The gain is largely attributed to a strong 2013 for stock markets. Approximately half the fund is invested in those markets, according to the corporation’s press release.
“Reaching such a significant milestone in the Permanent Fund’s value offers us yet another chance to be thankful that Alaskans created the Fund,” Permanent Fund Board Chairman Bill Moran said in a statement. “Over the last 37 years, the Fund has received $17 billion in deposits and has paid out $20 billion in dividends. And despite paying out more than it has taken in, the Fund has now reached a value of $50 billion. Overall, this has been a very successful program by any measure.”……………………………………….Full Article: Source

Norway SWF kicked the habit, lost money

Posted on 26 February 2014 by VRS  |  Email |Print

Some NOK 10bn of Norwegians’ oil-bred pension money went up in smoke after the Sovereign Wealth Fund pulled out of tobacco industry shares, reports say. The SWF, criticised for using tax havens, double standards, and nuclear weapons industry investments, performs a constant balancing act when it comes to moneymaking and ethics.
The NOK 9.6 billion dividends loss (roughly USD 1.59bn/EUR 1.16bn/GBP 956.54m at today’s ROE) concerns the August 2005-November 2011 period, according to Norges Bank’s calculations………………………………………..Full Article: Source

Timor Leste’s oil fund has assets of US$14.9 bln at the end of 2013

Posted on 20 February 2014 by VRS  |  Email |Print

Timor Leste’s (East Timor’s) Oil Fund ended 2013 with assets of US$14.9 billion, the Timor Leste Central Bank said in Dili Tuesday. In a statement the Central Bank said that in the period from September to December 2013 US$694.7 million was added to the fund, of which US$234.7 million came from contributions and US$370 million from royalty payments from the National Oil Agency (ANP).
“Income from the Fund’s investments totalled US$342.88 million, of which US$68.1 million were from coupon receipts and interest and US$274.77 million came from changes to the market value of the securities held,” the statement said………………………………………..Full Article: Source

Excess Crude Account Now $2.1bln

Posted on 14 February 2014 by VRS  |  Email |Print

The Excess Crude Account (ECA), which was created to provide succour in rainy days for the federation, now has only about $2.1 billion in its kitty. The depletion of the ECA from about $11 billion in December 2012, has been seriously disputed by analysts, who see the withdrawals as unwarranted.
The current status of ECA emerged yesterday at the meeting of the Federation Account Allocation Committee (FAAC), where a total statutory revenue of N629.128 billion was shared among the three-tiers of government for January………………………………………..Full Article: Source

SWFs in the Gulf reach new heights through oil reserves

Posted on 12 February 2014 by VRS  |  Email |Print

While some sovereign wealth funds (SWFs) in the Gulf region can trace their origins back to the 1950s and 1960s as decolonisation gathered pace, fresh impetus was provided a decade ago when state coffers across the region swelled following a surge in average oil prices from $20 to over $100.
Though the 14 SWFs now operating in the Gulf may have a shared propensity for opacity, their investment objectives vary significantly – the conservatism of the Saudi Arabian Monetary Agency (SAMA), heavily invested in low yielding US T-Bills and other paper, contrasting sharply with the Abu Dhabi Investment Authority (ADIA), which champions portfolio diversification when it comes to allocation and asset type………………………………………..Full Article: Source

The Alaska Permanent Fund hit $49.7-bln dollars at the end of 2013

Posted on 11 February 2014 by VRS  |  Email |Print

The value of the Alaska Permanent Fund at the end of 2013 was $49.7-billion dollars. The value of the fund was buoyed by the 9.2-percent return for the first half of the fiscal year.
The Permanent Fund’s U.S. stock portfolio has returned 19.8-percent so far this year. CEO Mike Burns notes that 2013 was the best year for U.S. stocks since 1995. The non-U.S. stock portfolio has increased by 13.8-percent and the global portfolio is up 17-percent. The real estate portfolio increased by 4.4-percent………………………………………..Full Article: Source

Global AUM to breach $100trn by 2020: PwC

Posted on 11 February 2014 by VRS  |  Email |Print

Global assets under management will rise to more than $100trn by 2020, according to predictions by PwC. At the end of 2012, the figure stood at $63.9trn, according to the ‘Big Four’ consultancy’s report, Asset Management 2020: A brave new world. The report predicted $101.7trn would be driven by pension funds, high-net-worth individuals and sovereign wealth funds.
At client level, it suggested three key trends were behind the forecasts: the increase of mass affluent and HNW individuals in South America, Asia, Africa and Middle East; the expansion and emergence of new sovereign wealth funds with diverse agendas and investment goals; and the increasing defined contribution schemes partly, driven by government-incentivised or government-mandated shift to individual retirement plans………………………………………..Full Article: Source

Australia’s sovereign wealth fund surges to $85bln in 2013

Posted on 04 February 2014 by VRS  |  Email |Print

Australia’s Future Fund, the nation’s sovereign wealth manager, returned a record 17.2% in 2013 after it invested more in global equities and less in debt securities.
The A$96.56bn (£52bn, $85bn, €63bn) Melbourne-based fund increased its allocation in stocks worldwide to 33.1% in the fourth quarter of 2013 from 23.4% a year ago, the fund said in a statement………………………………………..Full Article: Source

Australia’s sovereign wealth fund posts record return in 2013

Posted on 03 February 2014 by VRS  |  Email |Print

Australia’s Future Fund, the country’s sovereign wealth manager, returned a record 17.2 percent in 2013 as it increased its allocation to global equities at the expense of debt securities.
The A$97 billion ($85 billion) Melbourne-based fund, which was established in May 2006, boosted its allocation in stocks worldwide to 33.1 percent in the fourth quarter of 2013 from 23.4 percent a year earlier, the fund said in an e-mailed statement. It reduced its holdings of bonds to 12.2 percent from 19.1 percent over the same period………………………………………..Full Article: Source

Future Fund warns growth ‘may not be sustained indefinitely’

Posted on 03 February 2014 by VRS  |  Email |Print

Australia’s Future Fund returned 5.3 per cent in the December quarter of last year - almost enough to hit its 2013 full year target benchmark of 6.8 per cent, its managers report.
The fund grew by 17.2 per cent to $96.56 billion in calendar 2013, said chief executive Mark Burgess, leaving it “very, very close” to an overall long term performance target of seven per cent a year. The fund, set up by the Federal government in 2006 to finance the defined benefit pensions of Commonwealth public servants, now boasts a return of 6.9 per cent per year………………………………………..Full Article: Source

Abu Dhabi’s sovereign wealth fund is world’s second largest

Posted on 31 January 2014 by VRS  |  Email |Print

Abu Dhabi’s sovereign wealth fund (SWF), the Abu Dhabi Investment Authority (ADIA), is the world’s second largest in terms of overall assets, according to a quarterly list published by the Sovereign Wealth Fund Institute.
The ADIA, which has more than 773 billion US dollars in assets, previously occupied the top spot in 2012. It is now followed in third place by Saudi Arabia’s SAMA Foreign Holdings (SAMA) fund, which has some 675.9 billion dollars in assets………………………………………..Full Article: Source

SOFAZ’s assets reach $36 bln

Posted on 29 January 2014 by VRS  |  Email |Print

Budget revenues of the State Oil Fund of the Republic of Azerbaijan (SOFAZ) for the period of January-December, 2013 reached 13,600.5 million manats, while budget expenditures constituted 12,302.7 million manats.
Revenue of 13,119.9 mln. manats was received from implementation of oil and gas agreements, including 13,108.0 mln. manats from the sale of profit oil and gas, 1.8 mln. manats as acreage fees, 8.1 mln. manats as transit payments, 1.9 mln. manats as bonus payments and 0.1 mln. manats from the sale of assets received from foreign companies………………………………………..Full Article: Source

SOFAZ increases assets by over 5 pct

Posted on 29 January 2014 by VRS  |  Email |Print

The assets of Azerbaijani state oil fund SOFAZ has increased by 5.1 percent as of January 1, 2014, compared to the same period of 2013 and stood at over $ 35.877 billion. SOFAZ said the budget revenues of the fund exceeded 13.6 billion manats while the budget expenditures amounted to over 12.3 billion manats in January-December 2013.
Some 13.12 billion manats of the budget revenue was received from the implementation of oil and gas agreements in the reported period………………………………………..Full Article: Source

SWF has midas touch

Posted on 27 January 2014 by VRS  |  Email |Print

Kuwait , one of the world’s richest countries per capita, is investing a large share of its oil revenues abroad to provide for future generations. The assets managed by sovereign wealth fund, the Kuwait Investment Authority (KIA), have increased from an estimated $260 billion in 2008 to more than $400 billion today, making it one of the world’s largest sovereign wealth funds.
Nearly half of the total is invested In stocks, with the rest mainly in real estate and infrastructure assets in Europe , the United States and, increasingly, Asia . Closer to home, Kuwaiti investors are actively involved with the rebuilding of Iraq . The two countries have resumed direct flights and are collaborating on energy projects………………………………………..Full Article: Source

Moody’s affirms Kuwait Investment Company’s Baa3 issuer ratings; outlook stable

Posted on 27 January 2014 by VRS  |  Email |Print

Moody’s Investors Service has today affirmed the Baa3 issuer ratings of Kuwait Investment Company S.A.K. (KIC). At the same time, Moody’s noted that the company’s baseline credit assessment (BCA) of b3 has remained unchanged. The outlook on the ratings is stable.
This affirmation primarily reflects the high probability of government support in case of need, KIC is considered a government-related issuer (GRI), recognising (1) KIC’s 76 per cent ownership by the Kuwaiti government’s sovereign wealth fund (Kuwait Investment Authority or KIA), and (2) KIA’s continuous contribution to KIC through funding support and business generation………………………………………..Full Article: Source

Nigeria: Excess Crude Account - Okonjo-Iweala raises the alarm over revenue

Posted on 24 January 2014 by VRS  |  Email |Print

Finance minister and coordinating minister for the economy Dr Ngozi Okonjo-Iweala has raised fresh alarm over the massive decline in the excess crude account (ECA) which is increasing the country’s risk of having a revenue crisis.
She echoed the concerns raised by the Central Bank of Nigeria (CBN) governor, Malam Sanusi Lamido Sanusi, on Tuesday. “We’re a little more vulnerable now than we were in the past,” Okonjo-Iweala said in a Bloomberg Television interview with Francine Lacqua at the World Economic Forum in Davos………………………………………..Full Article: Source

Khazanah’s eventful 2013 year

Posted on 23 January 2014 by VRS  |  Email |Print

Malaysia’s sovereign wealth fund, reported a net asset value of RM 103.5 billion (US$ 31.2 billion) as of December 31, 2013. The new value includes a 19.1% increase during 2013, said the fund in a statement. It also represents a threefold increase in net asset value since 2004.

This past year, the sovereign fund soundly bested regional indices including MSCI Asia Ex-Japan, which returned 10.8% last year. A statement made by Khazanah credits the following companies with its impressive growth since 2004: “Telekom Malaysia Berhad and Axiata Group Berhad (RM21.3 billion), UEM Group Berhad (RM15.8 billion), Tenaga Nasional Berhad (“TNB”) with RM12.8 billion, CIMB Group Berhad (RM11.6 billion), and the healthcare sector with a contribution of RM8.6 billion.”…………………………….Full Article: Source

World’s largest sovereign fund seeks better returns

Posted on 23 January 2014 by VRS  |  Email |Print

In May 2012, the world’s biggest sovereign wealth fund joined US investors BlackRock and Waddell & Reed to buy a $1.6 billion (R17bn) stake in motor racing’s Formula One. The people who had worked on the deal for months were looking forward to celebrating their hard work.
Then they got an e-mail from their boss. Under no circumstances were they to be seen drinking champagne in the VIP tribune at the Monaco Grand Prix. “We have high expectations in terms of ethical standards, also for ourselves,” said Yngve Slyngstad, the head of the Government Pension Fund Global, which invests $163 000 of oil and gas wealth for each man, woman and child in Norway……………………………..Full Article: Source

Khazanah’s asset portfolio surges to record with KLCI’s rally

Posted on 21 January 2014 by VRS  |  Email |Print

Khazanah Nasional Bhd., Malaysia’s state investment company, said the value of its holdings climbed to a record last year as local share prices surged. The net asset value of Khazanah’s investments rose 19 percent to 103.5 billion ringgit ($31 billion) at the end of 2013 from 86.9 billion ringgit a year earlier, the Kuala Lumpur-based fund said.
It outperformed an 11 percent gain in the benchmark FTSE Bursa Malaysia KLCI Index, which closed at a record on Dec. 30………………………………………..Full Article: Source

Malaysian sovereign wealth fund gains 19pct

Posted on 21 January 2014 by VRS  |  Email |Print

Khazanah Nasional Berhad, Malaysia’s sovereign wealth fund, said Monday its net asset value rose 19.1% to 103.5 billion ringgit ($31 billion) in 2013. “We are starting this year from a position of relative strength and hopefully our portfolio can handle any storms,” said Azman Mokhtar, managing director for the Kuala Lumpur-based fund.
Last year “was eventful with highlights including better operating performance across practically all investee companies and deepening of the regional presence of various companies.”……………………………………….Full Article: Source

Norway’s sovereign wealth fund has ballooned

Posted on 13 January 2014 by VRS  |  Email |Print

Norway’s sovereign wealth fund has ballooned so much due to high oil and gas prices that every person in the country became a theoretical millionaire this week. The Nordic nation is proving to be an exception as others struggle under a mountain of debts.
Set up in 1990, the fund owns around 1 percent of the world’s stocks, as well as bonds and real estate from London to Boston. The surplus revenue is collected in the Government Pension Fund Global………………………………Full Article: Source

Norway’s oil fund heads for $1 trillion; So where is Alberta’s pot of gold?

Posted on 13 January 2014 by VRS  |  Email |Print

Every man, woman and child in oil-rich Norway became a theoretical millionaire this week. The country’s oil fund — which collects taxes from oil profits and invests the money, mostly in stocks — exceeded 5.11 trillion crowns ($905 billion) in value this week, making it worth a million crowns per person, or about $177,000 per Norwegian.
That’s right. Norway, the “socialist paradise,” is effectively running a surplus of nearly a trillion dollars, thanks to oil revenue. About the same time this happened, the Canadian Taxpayers Federation released calculations showing that the taxpayers of Alberta are on the hook for $7.7 billion in debt, or about $1,925 per person………………………………Full Article: Source

State oil fund makes all Norwegians crown millionaires

Posted on 10 January 2014 by VRS  |  Email |Print

Norway’s sovereign wealth fund has grown so much that it makes every Norwegian citizen a “theoretical” millionaire. The country reached the milestone thanks to a recent increase in oil and gases prices during 2013.
While the rest of Europe remains mired in financial crisis, Norway has quietly been amassing a huge fortune which reached 5.11 trillion crowns ($828 billion) on Wednesday, according to figures from the country’s central bank - Norges Bank. The new figure is over a million times Norway’s population which totaled 5,096,300 in the third quarter of 2013……………………………..Full Article: Source

All Norwegians become crown millionaires, thanks to SWF

Posted on 09 January 2014 by VRS  |  Email |Print

Everyone in Norway became a theoretical crown millionaire on Wednesday in a milestone for the world’s biggest sovereign wealth fund that has ballooned thanks to high oil and gas prices.
Set up in 1990, the fund owns around 1 percent of the world’s stocks, as well as bonds and real estate from London to Boston, making the Nordic nation an exception when others are struggling under a mountain of debts………………………………………..Full Article: Source

Direct sovereign wealth fund transactions grow in 2013

Posted on 09 January 2014 by VRS  |  Email |Print

According to Sovereign Wealth Fund Transaction Database, in 2013, sovereign wealth funds completed 1,883 direct transactions with a total value of US$ 66.05 billion, an increase US$ 1.38 billion from 2012.
The number of direct transactions grew by 53.8% from 2012 and tripled the number of transactions compared to 2011. Emboldened sovereign funds amplified direct investments in a number of countries including Germany, Australia and China………………………………………..Full Article: Source

Top 10 sovereign wealth fund game-changers of 2013

Posted on 02 January 2014 by VRS  |  Email |Print

Overall, institutional investors fared well in 2013, performance wise. 2013 was a boon for sovereign wealth funds and pensions with allocation to developed market public equities. On December 31, U.S. stocks closed 2013 at records.
Sovereign funds are stepping up commitments to specialist funds and regional private equity funds. The mega PE players are raising larger funds reminiscent of 2007, just look at the recent KKR and Blackstone fund raises in 2013. The other apparent trend is that public funds are looking to limit the number of PE relationships, which could greatly affect mid-sized to smaller private equity firms………………………………………..Full Article: Source

Permanent Fund dividend application opens New Year’s Day

Posted on 02 January 2014 by VRS  |  Email |Print

In Alaska, New Year’s Day marks not only another year passed, but also the beginning of registration for the Permanent Fund Dividend, the state’s annual payout to residents from its invested oil wealth. Between Jan. 1 and March 31, Alaskans can apply online or by paper for the 2014 dividend, which officials expect to be larger than last year’s check.
While the dividends have steadily decreased from $2,069 in 2008 to $878 in 2012, the payment for 2014 “will likely go into the four-figure territory once again,” said Dan DeBartolo, director of the Permanent Fund Dividend Division……………………………………….Full Article: Source

Chinese fund had losses in Canada

Posted on 20 December 2013 by VRS  |  Email |Print

The head of China Investment Corp.’s Toronto office is stepping down as the Chinese sovereign wealth fund broadens its North American investments after suffering losses in Canada, sources say.
Felix Chee, who was appointed in January 2011 as chief representative for CIC’s first international office, will leave when his term ends this month, say the sources, who asked not to be identified as they weren’t authorized to speak about the plans. Chee didn’t return calls to his Toronto office and emails seeking comment………………………………………..Full Article: Source

Superannuation fund members enjoy double-digit growth in 2013

Posted on 20 December 2013 by VRS  |  Email |Print

Super funds members can enjoy double-digit growth this year despite predictions of poor performance in December. Strong growth in international shares helped boost nest eggs in November and resulted in median growth funds (61 to 80 per cent growth assets) increasing by 0.8 per cent.
Research firm SuperRatings found the returns in December were shaped to be the worst in 2013 after Australian and international share markets both dropped (-4.1 per cent and -2.0 per cent respectively)………………………………………..Full Article: Source

NZ Super Fund continues to grow - value lifts to $25bln

Posted on 19 December 2013 by VRS  |  Email |Print

The New Zealand Superannuation Fund returned 27.76% on its investments in the last 12 months to lift its value to nearly $25 billion at the end of November. Since inception in 2003, the fund has returned 9.55% a year and in November returned 1.66%.
The fund, set up by former finance minister Sir Michael Cullen and also know as the ”Cullen fund”, was established to pre-fund New Zealand’s superannuation requirements………………………………………..Full Article: Source

CIC to stay in Toronto despite investment losses, sources say

Posted on 19 December 2013 by VRS  |  Email |Print

China Investment Corp. has no plans to close its Toronto office, people close to the fund said, despite reports the giant investment fund is considering moving its North American headquarters to New York.
The $580-billion (U.S.) sovereign wealth fund opened the office in the city in 2011, its first on the continent.
At the time, the decision was touted as a coup for the financial community; Manulife Financial Corp. chief executive officer Don Guloien called it “a great tribute to the investment possibilities that CIC sees in Canada.”……………………………………….Full Article: Source

The Norwegian Oil Fund worth NOK 5000 bln

Posted on 04 December 2013 by VRS  |  Email |Print

The Norwegian Government Pension Fund Global, also known as the National Oil Fund has now reached the value of NOK 5000 billion, or USD 818 billion. This was announced Monday, 17 years after the Finance Department deposited the first NOK two billion in the Fund in 1996.
The Fund’s value passed NOK 2000 billion in October 2007 and NOK 3000 billion in 2010. The value passed NOK 4000 billion in February this year. Norges Bank Investment Management (NBIM) manages the Norwegian Government Pension Fund Global………………………………………..Full Article: Source

Norway’s state pension fund returns 5pct in third quarter

Posted on 26 November 2013 by VRS  |  Email |Print

Norges Bank Investment Management, manager of the Norwegian government’s global pension fund has published its third quarter report on investment returns. The Government Pension Fund Global returned 5.0%, or 228 billion kroner,($37bn) in the third quarter of 2013. Equity investments returned 7.6%, while fixed income investments returned 0.3%. The return on equity and fixed income investments was 0.1 percentage point higher than the return on the fund’s bench mark, the report said.
Investments in real estate returned 4.1%. The fund had a market value of 4,714 billion ($769bn) kroner at the end of the quarter and was invested 63.6% in equities, 35.5% in fixed income and 0.9% in real estate………………………………………..Full Article: Source

Bahrain SWF maintains transparency score

Posted on 11 November 2013 by VRS  |  Email |Print

Bahrain Mumtalakat Holding Company (Mumtalakat)’s transparency score has been maintained following the research undertaken by Linaburg-Maduell Transparency Index issued by the Sovereign Wealth Funds Institute (SWFI).
Mumtalakat maintained its score of nine out of a possible 10 in the index, which makes the company well placed in the top tier of its global peers, said a press release………………………………………..Full Article: Source

Nigeria’s sovereign wealth fund ranked 44th on Transparency Index

Posted on 08 November 2013 by VRS  |  Email |Print

Nigeria’s sovereign wealth fund has been ranked number 44 on the global Sovereign Wealth Transparency rating for the third quarter of 2013. Known as the Linaburg-Maduell Transparency Index, it rates the sovereign wealth funds of countries in terms of how transparent they are to the public.
According to the rating for the third quarter released yesterday, the Nigerian Sovereign Investment Authority (NSIA) achieved a rating of ‘4′, to place 44th out of 51 sovereign wealth fund rated by the Sovereign Wealth Institute………………………………………..Full Article: Source

SOFAZ gold assets estimated at $1.1 bln

Posted on 06 November 2013 by VRS  |  Email |Print

Physical gold amounts already 3.2% of currency assets of the State Oil Fund of Azerbaijan (SOFAZ). The Fund informs that as of 1 October its investment portfolio was $35.5 bn or 99.3% of currency assets ($35.809 bn).
At that, the basis of portfolio consists of investments in American currency - $17.05 bn or 48%. Investments in single European currency were a little behind – 40.1% of assets or €10.55 bn. Investments in British pounds were formed by 5.1% of assets or £1.146 bn………………………………………..Full Article: Source

NZ Super Fund exceeds targets in turbulent decade

Posted on 31 October 2013 by VRS  |  Email |Print

New Zealand Superannuation Fund has returned an average of 9.13% in each year of its 10-year existence, new figures reveal. The returns are before tax after costs, says the fund’s manager, the Guardians of New Zealand Superannuation.
As at September 30, the fund was worth $23.93 billion. It has also paid $3.3 billion in New Zealand tax over the 10 years, including $980 million during the past 12 months. Guardians chairman Gavin Walker says the fund is comfortably ahead of its key performance benchmarks and it has beaten the government’s cost of debt over the decade by 4.26% a year, or $6.96 billion……………………………..Full Article: Source

Behind the Future Fund’s great big return

Posted on 31 October 2013 by VRS  |  Email |Print

Figures released last week by the Future Fund revealed it was outperforming the most aggressive of Australia’s pool super funds and was on track to reach its target of $140 billion a year early, in 2019.
The Australian reported the fund – intended to pay for defined benefit pensions to commonwealth public servants – “had beaten conventional super funds holding 100% growth assets by a handsome margin, even though it is widely invested in longer-term assets such as infrastructure and timber plantations”……………………………..Full Article: Source

Permanent Fund gains 4.6pct in first quarter

Posted on 25 October 2013 by VRS  |  Email |Print

The Alaska Permanent Fund returned 4.6 percent for the first quarter of fiscal year 2014, and increased in value by $2.2 billion from the start of the fiscal year to reach $47.0 billion, according to unaudited figures released by the Corporation. The Fund’s investments were positioned more conservatively (and assumed less risk) than the composite performance benchmark, and as a result lagged the benchmark return of 5.7 percent for the period ending September 30.
The Fund’s stock portfolios, which comprised close to half the Fund’s investments, drove the positive performance for the quarter. The U.S. portfolio returned 8.3 percent, while the Non-U.S and global portfolios gained 8.8 and 8.0 percent respectively………………………………………..Full Article: Source

The Future Fund’s secret to success (Video)

Posted on 24 October 2013 by VRS  |  Email |Print

Australia’s sovereign wealth fund is toasting another strong result thanks to rising equity markets and its move away from debt securities over the past 12 months. The Future Fund’s average annual return over three years has been nearly 10 per cent.
However experts say a number of mainstream super funds have done better………………………………………..Full Article: Source

Alaska’s Permanent Fund notches nifty $2.2 bln return in last quarter

Posted on 23 October 2013 by VRS  |  Email |Print

Alaska’s Permanent Fund continued to swell in the first three months of the fiscal year, gaining $2.2 billion to reach a total of $47 billion, according to the corporation that manages Alaska’s biggest account.
The fund, the piggy bank that puts money into Alaskans’ pockets each fall, is invested conservatively and returned 4.6 percent during the 90-day stretch starting in July, said a statement from the Alaska Permanent Fund Corp. For all of fiscal year 2013, the fund increased in value $4.3 billion………………………………………..Full Article: Source

Assets of Azerbaijani State Oil Fund hit $36 bln

Posted on 22 October 2013 by VRS  |  Email |Print

Budget revenues of the State Oil Fund of the Republic of Azerbaijan from January-September, 2013 reached 10.086 billion manat, while budget expenditures constituted 8.746 billion manat, a message from the State Oil Fund said.
According to the message, revenue of 9.774 billion manat was received from implementation of oil and gas agreements, including 9.766 billion manat from the sale of profit oil and gas, 1.7 million manat as acreage fees, 6.0 million manat as transit payments, 0.3 million manat as bonus payments and 0.06 million manat from the sale of assets received from foreign companies………………………………………..Full Article: Source

SOFAZ cites revenues from ACG, Shah Deniz projects

Posted on 22 October 2013 by VRS  |  Email |Print

Since early 2001 as of October 1, Azerbaijan’s state oil fund SOFAZ received over $90.878 billion within the implementation of the project on developing the giant Azeri-Chirag-Gunashli (AGC) block of oil and gas fields in the Azerbaijani sector of the Caspian Sea, SOFAZ told Baku-based Trend news agency on October 18.
SOFAZ, an entity that accumulates and manages Azerbaijan’s oil and gas revenues, reported that it received over $12.107 billion under the ACG project in January-September 2013………………………………………..Full Article: Source

Global SWFs’ combined portfolio rises to USD6trn

Posted on 21 October 2013 by VRS  |  Email |Print

Global sovereign wealth funds now hold more than USD 6 trillion in investments with Middle East funds contributing 35% of the assets, according to latest data from Sovereign Wealth Fund Institute.
Collectively, the funds’ assets have risen by more than USD 1 trillion in nine months, suggesting that the richest fund continue to find investment opportunities in a low-growth economic environment. The SWF Institute data from 73 funds, however, is around USD 600 billion higher than estimates by Preqin Sovereign Wealth Fund Review, which recently pegged the SWFs’ combined assets at USD 5.38 billion………………………………………..Full Article: Source

Volume of proceeds to Azerbaijan’s State Oil Fund from ACG project nears $91 bln

Posted on 21 October 2013 by VRS  |  Email |Print

As of Oct. 1, some $90,878.5 million was received by the State Oil Fund of Azerbaijan (SOFAZ) from early 2001 within frameworks of the project of development of the Azeri-Chirag-Guneshli (ACG) block of oil field in the Azerbaijani sector of the Caspian Sea, SOFAZ told Trend on Friday.
SOFAZ said that in January-September 2013 it received $12,107.6 million as part of the Azeri-Chirag-Guneshli project. The contract for development of Azeri-Chirag-Guneshli large offshore field was signed in 1994………………………………………..Full Article: Source

NZ Super Fund reports record return

Posted on 18 October 2013 by VRS  |  Email |Print

The New Zealand Superannuation fund had a record 2013 financial year, returning nearly 26%, or $4 billion. Over the 10 years it’s existed the Fund has built up to now be worth $23 billion.
It follows a contrarian investment strategy, whereby it invests in an asset which it believes is well below fair value, but with a long-term view to see that value materialise. Superannuation Fund chief executive Adrian Orr says it’s that investment strategy that has really worked for it………………………………………..Full Article: Source

English marks NZ Super Fund’s 10th anniversary

Posted on 17 October 2013 by VRS  |  Email |Print

Finance Minister Bill English congratulated the New Zealand Superannuation Fund on achieving its tenth anniversary, and having built a world-class sovereign wealth fund in that time.
The New Zealand Superannuation Fund, which invests to assist in meeting some of the long-term cost of New Zealand Superannuation, started in 2003 with $2.5 billion in cash. Since then it has returned an average of 8.84 per cent per annum and the fund now stands at $23 billion………………………………………..Full Article: Source

$23 bln in NZ Super Fund

Posted on 17 October 2013 by VRS  |  Email |Print

The Superannuation Fund, which has just turned 10 years old, has $23 billion in it. Finance Minister Bill English says New Zealand has built a world-class sovereign wealth fund in just a decade.
It was started by Labour finance minister Michael Cullen in 2003 to help meet the long-term cost of national superannuation. Dr Cullen put $2.5 billion in it to start it up………………………………………..Full Article: Source

Global sovereign wealth fund assets up 16pct

Posted on 11 October 2013 by VRS  |  Email |Print

Sovereign wealth funds globally have added over $750 billion to their total assets under management over the last year, from $4.62 trillion in 2012 to $5.38 trillion in 2013 with an increase of 16%, according to latest research from private equity research firm Preqin.
Asia-based sovereign wealth funds have shown some of the largest growth in assets under management, with the assets of these sovereign wealth funds growing, on average, by 19% since 2012. This is in comparison to the average 6% growth in assets under management exhibited by Middle Eastern sovereign wealth funds………………………………………..Full Article: Source

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