Sat, Aug 2, 2014
A A A
Welcome sandeep.kottawar@wns.com
RSS

Sovereign Wealth Funds Briefing - Category | Trends more

Dubai would “do the same again” – CEO of sovereign wealth fund

Posted on 09 April 2014 by VRS  |  Email |Print

Dubai told international bankers on Monday that it was gearing up for another boom and did not regret the pro-growth policies which brought it to the brink of default five years ago. It appeared to win the endorsement of many of the bankers.
Over a dozen top Dubai officials and executives met about 100 representatives of financial powerhouses including Deutsche Bank, Nomura Holdings and Fidelity Investments for the emirate’s first big investor roadshow since the crisis………………………………………..Full Article: Source

Norway’s oil fund could dump shares in oil, coal

Posted on 07 April 2014 by VRS  |  Email |Print

Norway is considering excluding foreign oil and coal companies from its $860 billion sovereign wealth fund, which manages profits from Norway’s own fossil fuel industry.
In a shake-up of the fund that sharpens its environmental focus, Finance Minister Siv Jensen said Friday she had appointed a panel to assess the question on the grounds of possible damage to the climate. It will report back to the government in November………………………………………..Full Article: Source

Sovereign funds wary of hidden emerging market exposure: Templeton

Posted on 03 April 2014 by VRS  |  Email |Print

Sovereign wealth funds see emerging market turbulence as a long term buying opportunity, but are wary of excessive exposure via some of their Western holdings such as luxury goods makers, a top investment official at Franklin Templeton said.
David Smart, who heads a team managing assets for sovereign funds and supranational clients at Franklin Templeton, said the $5 trillion sector can afford to ride out volatile swings thanks to its long-term horizons…………………………….Full Article: Source

Planned sovereign wealth fund may well be only Zim entity able to pay for stakes in mines

Posted on 28 March 2014 by VRS  |  Email |Print

The introduction of the Sovereign Wealth Fund (SWF) by the Zimbabwe government could not have been more timeous, according to experts, as it will be used for much-needed infrastructure development. This also comes amid investor dissatisfaction in the Zimbabwean mining industry, owing to the country’s Indigenisation and Economic Empowerment Act and mining royalties policies.
In his speech at the Zimbabwe Chamber of Mines’ (CoM’s) seventy-fourth annual general meeting in May last year, CoM president John Chikombero said the operating environment for the mining industry in 2012 was, to a large extent, similar to that of 2011: the country’s mining industry remains a primary contributor to Zimbabwe’s gross domestic product and was expected to provide impetus for economic growth……………………………………Full Article: Source

Sovereign funds wary of emerging market volatility

Posted on 27 March 2014 by VRS  |  Email |Print

Sovereign wealth funds see emerging market turbulence as a long-term buying opportunity, but are wary of excessive exposure via some of their Western holdings such as luxury goods makers, a top investment official at Franklin Templeton said.
David Smart, who heads a team managing sovereign funds and supranational clients at Templeton, said the US$5 trillion sector could afford to ride out volatile swings thanks to its long-term horizons. “In terms of our client base, we haven’t seen any evidence of de-risking,” he said. “If anything we’ve seen willingness to take advantage of opportunities. They have the ability to withstand volatility. They see it as a long-term acquisition opportunity.”………………………………..Full Article: Source

China growth unsatisfactory, but it’s early: CIC

Posted on 27 March 2014 by VRS  |  Email |Print

A senior official in China’s sovereign-wealth fund said the country’s economic growth so far this year has been disappointing but it is too early to draw alarm. China’s “first-quarter growth is not satisfactory but it is like a trial run–it does not represent the entire year,” said Li Xiaopeng, head of China Investment Corp.’s supervisory board, at a Credit Suisse investment conference in Hong Kong.
CIC’s supervisory board is responsible for monitoring the behavior of the sovereign-wealth fund’s directors and executives. “The very real growth takes place in [the second quarter], so don’t worry,” he said, noting the Lunar New Year holiday that traditionally skews China data in the first quarter…………………………………Full Article: Source

CIC eyes agriculture, tips H2 China growth

Posted on 27 March 2014 by VRS  |  Email |Print

China’s sovereign wealth fund has singled out global agricultural investments as a particular area of interest, with other favoured sectors including information technology, real estate and infrastructure.
We are interested in agricultural industry-not only in emerging markets but also in other markets,” said Li Xiaopeng, chairman of the board of supervisors at China Investment Corporation. “We hope agricultural investment can provide CIC with stable returns over the long term.”………………………………..Full Article: Source

There’s a price to pay for our indebtedness to PNG

Posted on 21 March 2014 by VRS  |  Email |Print

The first is that PNG has effectively given up on its sovereign wealth fund. Millions of Australian dollars have been spent on advising the PNG government on setting up a SWF. It was once seen as so important that it was the subject of a separate agreement between the two countries.
A SWF was legislated back in 2012, but proper procedures were not followed so it is not binding. The entire point of the SWF was to receive and manage the proceeds from the massive liquefied natural gas project that will come on line this year………………………………………..Full Article: Source

GIC outlines investment principles

Posted on 17 March 2014 by VRS  |  Email |Print

GIC has offered insights into the five guiding principles it uses to ensure its investments achieve the best long-term returns for Singapore. The sovereign wealth fund also said it uses a “heat map” of the globe monitoring the way various markets are performing by using different colours on the map.
The insights were offered by GIC’s chief investment officer, Mr Lim Chow Kiat, when he spoke on Thursday at the Investment Management Association of Singapore annual conference at Raffles City Convention Centre. Even though there may be “short-term temptations”, GIC’s mission to safeguard and enhance the nation’s reserves for the long haul is never forgotten, he noted……………………………………….Full Article: Source

Move by Norway sovereign wealth fund to invest in renewables could have ‘global impact’

Posted on 14 March 2014 by VRS  |  Email |Print

The government of Norway will mandate the country’s sovereign wealth fund, the largest in the world, to invest in renewable energy, Prime Minister Erna Solberg announced in Oslo “We are thrilled that Norway is stepping forward to lead on renewable energy,” says Nina Jensen, CEO of WWF-Norway. “If done at scale, this will have global impact and redefine how we use money consistent with commitments to limit climate change.
“We have long advocated that the fund invest up to 5% in infrastructure for renewable energy. This will require a change in the guidelines for the fund, similar to the mandate to investing in property that was granted in 2010………………………………………..Full Article: Source

Australia funds eye liquid investments

Posted on 13 March 2014 by VRS  |  Email |Print

Australian fund managers are eying an increasingly liquid market: water. A state-run system giving farmers fixed allocations for river water flowing into the country’s agricultural heartland is tempting speculators to buy up those rights in anticipation of higher prices.
A specialist fund manager, Blue Sky Alternative Investments Ltd., recently raised 20 million Australian dollars (US$18 million) to pour into the fledgling market, following earlier moves by San Diego, Calif.-based Summit Global and VicSuper, one of Australia’s biggest pension funds………………………………………..Full Article: Source

Norway may divest from fossil fuels – is it hypocrisy or pragmatism?

Posted on 11 March 2014 by VRS  |  Email |Print

Norway’s $840 billion sovereign wealth fund is the biggest investment fund in the world. On average, it owns 1.3 per cent of every publicly listed company. Investors around the world watch its decisions. So when the Norwegian parliament voted late last month to look into selling off its holdings of fossil fuel companies, it was a big deal for both the financial and environmental community.
It’s estimated fossil fuel shares make up about 8.4 per cent of the fund’s portfolio – about $44 billion. Divestment would be a huge victory for the climate movement, which has encouraged institutional investors to get out of carbon-intensive companies on both moral and financial grounds………………………………………..Full Article: Source

Sovereign wealth fund demand for U.S. properties picks up

Posted on 11 March 2014 by VRS  |  Email |Print

Commercial real estate investment sales topped $355 billion last year, a 19 percent hike over 2012 and the highest dollar volume since the financial crash in 2008, according to New York-based research firm Real Capital Analytics.
The firm expects 2014 volume to approach $400 billion, rivaling the dollar volume levels in 2004 and 2005. And within that, endowment funds and, in particular, sovereign wealth funds, keep ratcheting up their appetites for U.S. assets in a search for yield……………………………………….Full Article: Source

Sovereign-wealth funds must move out of shadows

Posted on 11 March 2014 by VRS  |  Email |Print

The need for greater transparency among emerging-market economies owning an increasing share of cross-border investments is moving slowly up the global economic agenda. Last week’s announcement by the International Forum of Sovereign Wealth Funds (IFSWF) that it’s moving its secretariat from Washington to London is, by itself, only a small step. Yet it heightens pressure for large-scale public investors deploying funds internationally to open up on their operations.
Counting all the investments of central banks, official investment agencies, sovereign funds and public pension funds, global public investors now own about $30 trillion of assets worldwide — a growing force on the world investment scene………………………………………..Full Article: Source

Singapore’s SWFs won’t opt for riskier bets

Posted on 10 March 2014 by VRS  |  Email |Print

A government official has said that the government of Singapore will not ask tis investment arm to take on riskier bets for higher returns. The official said that Singapore sovereign-wealth fund GIC Pte. Ltd., and the state investment company Temasek Holdings Pte. Ltd will not be asked to buy riskier investments to increase revenues even as government expects spending increases to be higher than revenue growth in the coming decade.
Josephine Teo, senior minister of state for finance said, “Our government spending needs will increase over time, but that should not drive the investment strategies of GIC and Temasek. If the government is in need of more revenues besides that obtainable the solution is not for our investment entities to take more risk in the hope of higher returns.”……………………………………….Full Article: Source

Norwegian wealth fund may ditch Australian resource firms

Posted on 04 March 2014 by VRS  |  Email |Print

Some of Australia’s biggest resource companies could lose a major investor if Norway goes through with a plan to ban its famous sovereign wealth fund from investing in coal, oil and gas. Norway’s sovereign wealth fund is the world’s biggest at $840 billion and is a major shareholder in companies such as BHP Billiton, Woodside Petroleum and Whitehaven Coal.
A non-government majority in the Norwegian parliament had been edging towards a vote on banning the fund from investing in coal, and the pressure has forced the government to launch a year-long expert review into whether the fund should cease investing in all forms of fossil fuel………………………………………..Full Article: Source

Norway to study pulling wealth fund investment from oil, gas, coal

Posted on 04 March 2014 by VRS  |  Email |Print

Norway’s ruling parties have agreed to study whether its US$840-billion wealth fund, itself built on oil revenues, should pull out of investing in oil, gas and coal for environmental reasons, the Progress Party said on Friday.
The minority government and two small opposition parties agreed to set up an independent panel to study the issue and present its findings next year, potentially heralding one of the biggest changes for the fund since it was set up in 1990………………………………………..Full Article: Source

Norway’s $840 bln oil fund to review mining investments

Posted on 03 March 2014 by VRS  |  Email |Print

Norway’s $840 billion sovereign fund, the world’s biggest equity investor, has cut its investments in gold and coal miners due to environmental concerns and will review the entire mining sector this year, it said on Friday.
The fund, which grew by $200 billion in 2013 alone and owns about 1 percent of all global stocks, exited its investments in 27 gold and coal miners in 2013 and cut its stakes in others. The wider sector review potentially heralds one of the biggest changes since it was set up as a sovereign wealth fund in 1998………………………………………..Full Article: Source

Norway plans to pull oil fund out of fossil fuels

Posted on 03 March 2014 by VRS  |  Email |Print

Norway said Friday that it would consider pulling its enormous state oil fund out of overseas investments in fossil fuels. Norway has the world’s largest sovereign wealth fund, which has invested the nation’s oil wealth in a range of stocks, bonds and other vehicles — including major oil and gas companies.
An independent panel of experts will report back to parliament in 2015 on the likely consequences of the fund — which is worth almost $840 billion (610 billion euros) — divesting from coal, oil and gas businesses, the rightwing ruling coalition said Friday. It was not clear whether any pull-out would affect all fossil fuel extraction companies, or whether it would also include power companies………………………………………..Full Article: Source

Khazanah joins sovereign funds’ expansion spree

Posted on 28 February 2014 by VRS  |  Email |Print

When Khazanah Nasional Bhd. announced 2013 returns last month, the Malaysian sovereign wealth fund highlighted its international presence for the first time and plans to continue expanding abroad.
Khazanah, which has locations in Beijing and Mumbai, said in the annual report it opened offices in San Francisco and Istanbul, and included a map of the various countries where its companies have operations………………………………………..Full Article: Source

80 Samruk-Kazyna companies may be privatized in 2014

Posted on 28 February 2014 by VRS  |  Email |Print

Around 80 companies that are part of Kazakhstan’s Samruk-Kazyna Sovereign Wealth Fund might be privatized in 2014, Tengrinews reports citing the Fund’s Chairman Umirzak Shukeyev.
“We have chosen around 80 companies that meet the criteria. The list includes 27 companies of KazMunaiGas (national oil and gas company), 34 companies of Kazakh Temir Zholy (national railway company), 11 companies of KazAtomProm (national nuclear company), 2 companies of Kazakhstelekom (national Internet and TV provider), 8 companies of Samruk-Energo (national manager of power assets) and 1 company of KEGOC (Kazakhstan Electricity Grid Operating Company),” Shukeyev said at the meeting of Sovereign Wealth Fund……………………………………….Full Article: Source

Khazanah joins sovereign funds’ expansion spree: Southeast Asia

Posted on 27 February 2014 by VRS  |  Email |Print

When Malaysia’s sovereign wealth fund announced its 2013 return last month, it highlighted its international presence for the first time in its annual report and plans to continue expanding abroad. Khazanah Nasional Bhd., which has locations in Beijing and Mumbai, said it opened offices in San Francisco and Istanbul with a map that included the various countries where its companies have operations.
“The new offices indicate a further internationalization of their investments,” said Victoria Barbary, director at the London-based Institutional Investor’s Sovereign Wealth Center. “I expect Khazanah to seek more technology investment through its office in California. And that might help bolster some knowledge transfer to their domestic firms.”……………………………………….Full Article: Source

Temasek playing with fire … again

Posted on 25 February 2014 by VRS  |  Email |Print

In the investment world, one must either be very dumb or very smart to make moves such as the one reportedly being contemplated by the Singapore sovereign fund Temasek Holdings Pte in Thailand.
Reports over the past week said that Temasek was looking to divest its shareholding in Shin Corp Plc (now called Intouch or INTUCH), and make a financial killing in the process. Temasek purchased nearly 96% of Shin in 2006 for 49.25 baht a share and is sitting on potential capital gains of billions of dollars as the current share price of INTUCH is around 70 baht………………………………………..Full Article: Source

Norway’s oil fund to double specialists

Posted on 24 February 2014 by VRS  |  Email |Print

The world’s biggest sovereign wealth fund is looking to more than double the number of industry specialists in its equities team as the $840bn Norwegian oil fund steps up efforts to outperform global stock markets. Norway’s oil fund is one of the world’s biggest equity investors, owning on average 1.25 per cent of every listed company globally.
Giving a rare insight into the inner workings of the oil fund, Petter Johnsen, its chief investment officer for equities, told the Financial Times he was looking to bulk up the number of portfolio managers that follow specific sectors such as US banks or European insurers………………………………………..Full Article: Source

Private equity and SWF investments rising in MENA

Posted on 21 February 2014 by VRS  |  Email |Print

Private equity and sovereign wealth fund (SWF) investments in the MENA region are strongly rebounding aided by the improved confidence in the regional economy, according to a report by Ernst & Young (EY).
Out of 442 deals announced in the MENA region during 2013, SWFs were involved in 19 deals with a deal value of $14.5 billion. This makes SWFs the single largest buyer constituency in MENA, contributing to 29 per cent of overall deal values………………………………………..Full Article: Source

How the Saudi Arabian dream could lift solar stocks

Posted on 20 February 2014 by VRS  |  Email |Print

When Saudi Arabia runs out of oil, what will sustain the nation of 28 million? That is the question that the nation’s leaders have thought long and hard about. One solution is putting surplus petrodollars into a sovereign wealth fund, which would invest that surplus in good times and provide steady interest income when the oil runs out.
Saudi Arabia has done just that, and now has the second largest sovereign wealth fund in the world with assets of $675.9 billion. At its present size, however, assuming an 8% annual return, which would yield interest income of $54 billion, the sovereign wealth fund would not be able to compensate for Saudi Arabia’s current oil income of around $300 billion a year………………………………………..Full Article: Source

CIC portfolio strategy

Posted on 20 February 2014 by VRS  |  Email |Print

China Investment Corp., in a major shift in strategy, is selling energy and commodities holdings while seeking to capitalise on recovering US and European economies.
Since late last year, the $600bn Chinese sovereign wealth fund has unloaded more than $1.5bn of shares in companies including US utility AES and Hong Kong-listed green energy firm GCL-Poly Energy, according to regulatory filings by the companies. CIC has also sold positions in two other Hong Kong-traded wind-power companies, according to filings………………………………………..Full Article: Source

China fund shifts focus from energy

Posted on 19 February 2014 by VRS  |  Email |Print

China Investment Corp. is selling energy and commodity holdings while seeking to capitalize on recovering U.S. and European economies, a major shift in strategy for the $600 billion sovereign-wealth fund.
Since late last year, CIC has unloaded more than $1.5 billion of shares in companies including AES Corp., a U.S. power company, and GCL-Poly Energy Holdings Ltd., a Hong Kong-listed green-energy company, according to regulatory filings by the companies. CIC, the world’s fifth-largest government-controlled fund, has also sold stakes in two other Hong Kong-traded wind-power companies, according to filings………………………………………..Full Article: Source

CIC to invite Chinese firms for investments overseas

Posted on 17 February 2014 by VRS  |  Email |Print

China Investment Corporation (CIC), the nation’s sovereign wealth fund, plans to collaborate with Chinese enterprises in jointly explore overseas investment opportunities, Shanghai-based China Business News reports, citing CIC chairman Ding Xuedong.
As part of the collaboration, CIC hopes domestic enterprises can lead and control overseas investment targets, while it will be a minority financial investor with no intention of seeking management control, Ding said………………………………………..Full Article: Source

African nations race to build funds

Posted on 17 February 2014 by VRS  |  Email |Print

Resource-rich African countries are busy setting up sovereign wealth funds, but critics say the funds may not serve the long-term interests of poor countries that still need to invest in basics such as schools and roads.
Three oil producers, Angola, Ghana and Nigeria, started funds in the last two years. Before them, only Botswana, Gabon and Equatorial Guinea had such schemes. Other countries are following. Zambia and Liberia announced plans for funds last month. Tanzania, Kenya, Uganda, Mauritius, Mozambique and Zimbabwe have similar intentions………………………………………..Full Article: Source

All eyes on the PIC’s big push into Africa

Posted on 17 February 2014 by VRS  |  Email |Print

The nondescript building housing the South African Public Investment Corporation (PIC) in a business park in Pretoria gives little indication of its power. Yet from his office inside it, Elias Masilela controls nearly $150bn (R1.6-trillion) that he is increasingly channelling into investments across Africa.
When the Sovereign Wealth Fund Institute, a US-based consultancy, published a list of the world’s “most significant and impactful public investor executives” last year, the usual names filled the top rankings. Sandwiched between the heads of sovereign wealth funds from oil-rich Norway and Abu Dhabi were the heads of Chinese and Kuwaiti state-owned funds. But there was one standout: Elias Masilela. The chief executive of the PIC ranked 14 out of 100………………………………………..Full Article: Source

Investment: South Africa rising

Posted on 12 February 2014 by VRS  |  Email |Print

When the Sovereign Wealth Fund Institute, a US-based consultancy, published a list of the world’s “most significant and impactful public investor executives” last year, the usual names filled the top rankings.
Sandwiched between the heads of SWFs from oil-rich Norway and Abu Dhabi were the heads of Chinese and Kuwaiti state-owned funds. But there was one standout: Mr Masilela. The chief executive of the PIC ranked 14 out of 100………………………………………..Full Article: Source

Goodman’s Asia boost

Posted on 12 February 2014 by VRS  |  Email |Print

The Australian group and Middle Eastern sovereign wealth fund Abu Dhabi Investment Council have poured a further $US300 million into their 50-50 Japan logistics development joint venture, industry journal Private Equity Real Estate said.
In the latest move, the pair made equal $US150m contributions to the unlisted partnership, which has been developing four assets in major Japanese cities………………………………………..Full Article: Source

CIC real estate spending spree in UK will create many jobs

Posted on 10 February 2014 by VRS  |  Email |Print

Chinese investment in British real estate has increased remarkably and will continue in the coming years, industry insiders say. Dalian Wanda Group, one of China’s largest and most ambitious conglomerates, plans to invest up to 3 billion pounds ($4.97 billion) in regeneration projects in Britain.
British Prime Minister David Cameron announced the investment on Jan 24 after meeting Dalian Wanda chairman Wang Jianlin at the World Economic Forum in Davos, Switzerland.”When I met Chairman Wang Jianlin during my recent trade visit to China, I encouraged him to make further investment in Britain. So I’m delighted that Wanda has decided to invest 2 to 3 billion pounds in regeneration projects,” Cameron said…………………………………..Full Article: Source

NSIA chief hopeful on SWF’s success

Posted on 07 February 2014 by VRS  |  Email |Print

The Managing Director, Chief Executive Officer, Nigeria Sovereign Investment Authority (NSIA), Uche Orji yesterday described as baseless, fear that the Sovereign Wealth Funds (SWFs) will not succeed.
Orji who spoke during the 2014 University of Port Harcourt (UNIPORT), Founders Day cerebration at the University Campus in Port Harcourt, the Rivers State capital, said the initiative will succeed, adding that the Fund has already identified 18 key areas of investment. He said five main areas of power, health, real estate, agriculture and motorway (monolines) are already being addressed………………………………………..Full Article: Source

Biggest wealth fund urged more freedom by Norway Liberals

Posted on 05 February 2014 by VRS  |  Email |Print

Norway needs to ease control over its $810 billion sovereign wealth fund to allow it to pursue greater returns, according to the head of the Liberal Party, which supports the minority government in parliament.
“To create very strong lines for what the oil fund should do makes it very difficult,” Trine Skei Grande said in a Jan. 31 interview at parliament in Oslo. “We should put some goals but not instruct it very directly.”……………………………………….Full Article: Source

Khazanah’s 10 years of reform

Posted on 30 January 2014 by VRS  |  Email |Print

Over the past decade, Khazanah Nasional Bhd has seen some hits and some misses in its efforts to transform the government-linked companies (GLCs) in its stable into regional champions. Khazanah expects to see the seven GLCs in its stable — CIMB Group Bhd, Axiata Bhd, Telekom Malaysia Bhd, Malaysia Airports Holdings Bhd, UEM Sunrise Bhd, Tenaga Nasional Bhd and Malaysian Airline System Bhd (MAS) — “graduate” in July 2015 and become high-performing entities.
Many are likely to point out that loss-making MAS has yet to qualify for graduation. The national carrier is still a long way from the finishing line in its transformation journey………………………………………..Full Article: Source

Norway’s giant wealth fund deals $405mln blow to coal industry

Posted on 30 January 2014 by VRS  |  Email |Print

Norway’s sovereign wealth fund, the world’s largest, may have to withdraw funding from coal following a likely vote in the Norwegian parliament, fueling the hopes of environmentalists that new mines and infrastructure will struggle to find finance.
If minority parties in Norway’s new coalition government back an opposition motion to withdraw from coal, then the country’s wealth fund would be the latest high profile investor to block funding for an industry that accounts for a third of the world’s power generation and is blamed for being the main cause of climate change………………………………………..Full Article: Source

Gao and other sovereign funds in Davos

Posted on 28 January 2014 by VRS  |  Email |Print

Some sovereign wealth funds and mega pensions have converged on Davos, the Swiss city where the World Economic Forum is held. Bahrain’s Mumtalakat Holdings, a frequent Davos delegate sender, had their CEO Mahmood al-Kooheji representing Bahrain.
Kooheji gave an optimistic update on Gulf Air citing layoffs and restructuring changes. In addition, Kooheji told Reuters reporters in Davos,”This year we will be more active in investments. We are looking across the globe and open for investments in all sectors except aviation and real estate.”……………………………………….Full Article: Source

Money talks for Gulf SWFs

Posted on 27 January 2014 by VRS  |  Email |Print

Sovereign wealth funds in the oil-rich Gulf will seek to raise allocations for private equity, infrastructure and real estate this year, while funnelling cash into local infrastructure, as part of a broader strategy to diversify their portfolios and spur the regional economy.
While none of these funds disclose the extent of their assets, they are widely perceived as ranking among the world’s richest institutional investors, not to mention the most secretive. According to estimates from the Sovereign Wealth Fund Institute, Saudi Arabia’s SAMA Foreign Holdings’ assets total $675.9bn, Abu Dhabi Investment Authority’s (ADIA) $627bn, Kuwait Investment Authority’s (KIA) $386bn and Qatar Investment Authority’s (QIA) $170bn………………………………………..Full Article: Source

Kuwait wealth fund favours infrastructure sector in West

Posted on 24 January 2014 by VRS  |  Email |Print

Kuwait’s sovereign wealth fund, one of the world’s largest, will focus on increasing its infrastructure investments in British, U.S. and European markets and is also looking at the international real estate sector, its managing director said.
Kuwait Investment Authority (KIA) Managing Director Bader al-Saad also told pan-Arab channel al-Arabiya that growth in capital and real estate markets was unlikely to carry on………………………………………..Full Article: Source

Norway’s oil fund eyes riskier bets

Posted on 22 January 2014 by VRS  |  Email |Print

In May 2012 the world’s largest sovereign wealth fund joined U.S. investors BlackRock and Waddell & Reed to buy a $1.6 billion 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 email 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,” says Yngve Slyngstad, the head of the fund, which invests $163,000 of oil and gas wealth for each man, woman and child in Norway……………………………..Full Article: Source

Malaysia’s Khazanah takes cautious stance on investment to guard record assets

Posted on 22 January 2014 by VRS  |  Email |Print

Malaysian state investor Khazanah Nasional Bhd said political change in key emerging markets means it will have to approach investment more cautiously than last year, when its portfolio of assets reached a record $41 billion.
The sovereign wealth fund, which owns stakes in mobile services provider Axiata Group Bhd and property firm UEM Sunrise Bhd, has been increasing activity abroad to reduce the risk of being heavily invested at home……………………………..Full Article: Source

Malaysia’s Khazanah takes cautious stance on investment to guard record assets

Posted on 21 January 2014 by VRS  |  Email |Print

Malaysian state investor Khazanah Nasional Bhd said political change in key emerging markets means it will have to approach investment more cautiously than last year, when its portfolio of assets reached a record US$40.6 billion (RM134.9 billion).
The sovereign wealth fund, which owns stakes in mobile services provider Axiata Group Bhd and property firm UEM Sunrise Bhd, has been increasing activity abroad to reduce the risk of being heavily invested at home. But elections or leadership change in Turkey, India and Indonesia, as well as their uncertain economic outlook and weakening currencies, make for a cautious outlook for 2014, the fund said at its annual review on Monday………………………………………..Full Article: Source

More woe for Norwegian pension funds

Posted on 20 January 2014 by VRS  |  Email |Print

Norway’s Government Pension Fund lost NOK 29.6bn (€2.95bn) in 2008, a massive drop attributed to the equities, according to figures from Folketrygdfondet. The asset manager is a state-owned company, and is solely responsible for the domestic pension fund which invests only in Nordic countries. It has confirmed in its annual report for 2008 that the scheme had dropped by NOK 25.2bn, from NOK 113bn in 2007, to NOK 87.8bn at the end of 2008.
The pension fund returned -25.1 per cent overall, with positive returns coming from fixed income in Norway (8.48 per cent yield) and in other Nordic countries (23.49 per cent). The fund has a target allocation of 60 per cent in equities, and in 2008 44.5 per cent of the fund was invested in Norwegian equities, returning -49.2 per cent………………………………………..Full Article: Source

CIC bullish on developed economies

Posted on 16 January 2014 by VRS  |  Email |Print

The China Investment Corporation (CIC) will remain heavily invested in developed markets, despite some regulatory difficulties with investing in the US. Chairman and CEO Ding Xuedong told CNBC his sovereign wealth currently invested more than half of its ¥3.5 trillion ($500 billion) in developed economies, and planned to remain overweight for the foreseeable future.
“This is because we are seeing a strong economic rebound in the US over the past two years and Europe is also in recovery,” he said………………………………………..Full Article: Source

Chinese investment giant warms to US shale revolution

Posted on 15 January 2014 by VRS  |  Email |Print

Economic growth in the developed countries will in future outpace that in emerging markets, the chairman and chief executive of China’s largest sovereign wealth fund told the Asian Financial Forum on Monday.
Ding Xuedong, who took over the reins at China’s $575 billion China Investment Corp (CIC) fund last July, said western countries had completed the post crisis deleveraging process, whereas progress with deleveraging has been much more patchy in the emerging markets………………………………………..Full Article: Source

China’s wealth fund says developed markets drive recovery

Posted on 14 January 2014 by VRS  |  Email |Print

China Investment Corp., the country’s $575 billion sovereign wealth fund, favors European infrastructure and real estate as developed markets will drive the next phase of the global economic recovery.
“Europe has a lot of potential,” CIC Chairman Ding Xuedong said yesterday at a conference in Hong Kong. “It is turning from negative to positive so there should be a lot of investment opportunities.”……………………………………….Full Article: Source

Citi v Abu Dhabi – Will it ever end?

Posted on 14 January 2014 by VRS  |  Email |Print

Two of the largest financial institutions in the world may again be heading back to court as one of the most toughly fought battles since the financial crisis began looks set for another round. On December 23 last year, Citigroup lodged an appeal against a decision that had been handed down on November 26. This decision had gone against the bank, which had appealed against a previous decision to dismiss an earlier claim and compelled arbitration between it and the Abu Dhabi Investment Authority (ADIA).
Citi had lodged the appeal to the United States Courts of Appeals for the Second Circuit, according to publically available documents. There has been no published indication as to whether this appeal has been granted………………………………………..Full Article: Source

The Norwegian miracle : A model for visionary leadership

Posted on 13 January 2014 by VRS  |  Email |Print

Everyone in Norway became a theoretical millionaire on Wednesday in a milestone event for one of the world’s biggest sovereign wealth funds that has ballooned thanks to high oil and gas prices.
A preliminary counter on the website of the central bank, which manages the fund, rose to 5.11 trillion crowns ($828.66 billion), fractionally more than a million times Norway’s most recent official population estimate of 5,096,300. Norway’s $710 billion wealth fund earned 13.4 percent last year. 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

August 2014
M T W T F S S
« Jul    
 123
45678910
11121314151617
18192021222324
25262728293031