Opalesque Sovereign Wealth Funds Briefing http://www.opalesque.com/SWF_Briefing Thu, 18 Sep 2014 23:40:38 +0000 http://wordpress.org/?v=2.5.1 en Kazakh Wealth Fund to Sell Ukrainian Assets as Risks Grow http://www.opalesque.com/SWF_Briefing/?p=15958 http://www.opalesque.com/SWF_Briefing/?p=15958#comments Thu, 18 Sep 2014 23:40:38 +0000 VRS http://www.opalesque.com/SWF_Briefing/?p=15958 <br> <a href=http://www.opalesque.com/SWF_Briefing/?p=15958>Article Link</a> Kazakhstan is speeding up the sale of its assets in Ukraine as growing “political risks” threaten outside investors, sovereign wealth fund Samruk-Kazyna said. “Given the current political and economic situation in Ukraine, the interests of non-residents will be considered last,” Samruk-Kazyna Deputy Chief executive Officer Yelena Bakhmutova said on the fund’s website. (more…)

]]>
http://www.opalesque.com/SWF_Briefing/?feed=rss2&p=15958
Economists release new analysis of a ‘Scottish Oil Fund’ http://www.opalesque.com/SWF_Briefing/?p=15957 http://www.opalesque.com/SWF_Briefing/?p=15957#comments Thu, 18 Sep 2014 23:40:24 +0000 VRS http://www.opalesque.com/SWF_Briefing/?p=15957 <br> <a href=http://www.opalesque.com/SWF_Briefing/?p=15957>Article Link</a> A new economic analysis of a potential Scottish Oil or Sovereign Wealth Fund has found that Scotland could earn the same from the fund as current revenues from North Sea oil and gas tax receipts. The new economic outlook found that Scotland could have amassed a fund worth between £73.64 billion and £147.28 billion in 24 years, the same time as the Norwegian Oil Fund has been running. (more…)

]]>
http://www.opalesque.com/SWF_Briefing/?feed=rss2&p=15957
Finance Minister: Russia’s Draft 2015 Budget Envisages No Sales Tax http://www.opalesque.com/SWF_Briefing/?p=15956 http://www.opalesque.com/SWF_Briefing/?p=15956#comments Thu, 18 Sep 2014 23:40:08 +0000 VRS http://www.opalesque.com/SWF_Briefing/?p=15956 <br> <a href=http://www.opalesque.com/SWF_Briefing/?p=15956>Article Link</a> The Russian government does not plan to make any cash injections into the country’s Reserve Fund next year. It is predicted that by the end of 2015, the Reserve Fund will amount to 3.543 trillion rubles ($92 billion), while the Russian National Wealth Fund (NWF), which is part of the Reserve Fund, is expected to reach 3.194 trillion rubles ($83 billion). (more…)

]]>
http://www.opalesque.com/SWF_Briefing/?feed=rss2&p=15956
Kuwait Investment Authority says to expand Germany investments http://www.opalesque.com/SWF_Briefing/?p=15955 http://www.opalesque.com/SWF_Briefing/?p=15955#comments Thu, 18 Sep 2014 23:39:58 +0000 VRS http://www.opalesque.com/SWF_Briefing/?p=15955 <br> <a href=http://www.opalesque.com/SWF_Briefing/?p=15955>Article Link</a> The Kuwait Investment Authority (KIA), one of the world’s largest sovereign wealth funds and a long-term investor in German auto maker Daimler AG , wants to ramp up investments in Europe’s largest economy. (more…)

]]>
http://www.opalesque.com/SWF_Briefing/?feed=rss2&p=15955
Daimler and the Kuwait Investment Authority celebrate the anniversary of their 40-year partnership http://www.opalesque.com/SWF_Briefing/?p=15954 http://www.opalesque.com/SWF_Briefing/?p=15954#comments Thu, 18 Sep 2014 23:39:44 +0000 VRS http://www.opalesque.com/SWF_Briefing/?p=15954 <br> <a href=http://www.opalesque.com/SWF_Briefing/?p=15954>Article Link</a> The Kuwait Investment Authority has been a shareholder of Daimler for the past 40 years. Partnership underscored at a ceremony featuring around 100 guests. His Highness Sheikh Jaber Al-Mubarak Al-Hamad Al-Sabah, the Prime Minister of the State of Kuwait: “Our celebration today reflects the concept of successful economic partnership, and clearly demonstrates the astuteness of the State of Kuwait in seeking to invest financial surplus in long term investments to assist future generations in facing the future confidently and with resolve.” (more…)

]]>
http://www.opalesque.com/SWF_Briefing/?feed=rss2&p=15954
Mubadala units drive revenue growth during first half http://www.opalesque.com/SWF_Briefing/?p=15953 http://www.opalesque.com/SWF_Briefing/?p=15953#comments Thu, 18 Sep 2014 23:39:30 +0000 VRS http://www.opalesque.com/SWF_Briefing/?p=15953 <br> <a href=http://www.opalesque.com/SWF_Briefing/?p=15953>Article Link</a> Mubadala Development, the strategic investment vehicle owned by the Abu Dhabi Government, said revenue and operating income rose in the first half of the year, mainly because of higher sales and income from its aerospace, energy and aluminium businesses. (more…)

]]>
http://www.opalesque.com/SWF_Briefing/?feed=rss2&p=15953
Mubadala’s first-half profit up 23% on higher JV income http://www.opalesque.com/SWF_Briefing/?p=15952 http://www.opalesque.com/SWF_Briefing/?p=15952#comments Thu, 18 Sep 2014 23:39:16 +0000 VRS http://www.opalesque.com/SWF_Briefing/?p=15952 <br> <a href=http://www.opalesque.com/SWF_Briefing/?p=15952>Article Link</a> Mubadala Development Company, the Abu Dhabi-owned sovereign wealth fund, on Thursday posted a 23 per cent profit jump for the first half of the year. The company tasked with developing the emirate’s economy posted a Dh1.34 billion ($364.8 million) profit attributable to equity owners compared to the Dh1.09 billion profit it accrued in the same period a year ago. (more…)

]]>
http://www.opalesque.com/SWF_Briefing/?feed=rss2&p=15952
1MDB said to be planning RM8.4b sukuk http://www.opalesque.com/SWF_Briefing/?p=15951 http://www.opalesque.com/SWF_Briefing/?p=15951#comments Thu, 18 Sep 2014 23:39:02 +0000 VRS http://www.opalesque.com/SWF_Briefing/?p=15951 <br> <a href=http://www.opalesque.com/SWF_Briefing/?p=15951>Article Link</a> 1Malaysia Development Bhd (1MDB) is said to be in the midst of selling up to RM8.4 billion worth of sukuk, the largest globally so far this year. A report in Bloomberg yesterday said the sovereign wealth fund is seeking approval from the Securities Commission (SC) on the said issuance and has chosen AmInvestment Bank Bhd as the sole lead arranger and manager. (more…)

]]>
http://www.opalesque.com/SWF_Briefing/?feed=rss2&p=15951
Malaysia’s Khazanah to gain US$1bil from investment in China’s Alibaba http://www.opalesque.com/SWF_Briefing/?p=15950 http://www.opalesque.com/SWF_Briefing/?p=15950#comments Thu, 18 Sep 2014 23:38:50 +0000 VRS http://www.opalesque.com/SWF_Briefing/?p=15950 <br> <a href=http://www.opalesque.com/SWF_Briefing/?p=15950>Article Link</a> A little-known investment by Khazanah Nasional Bhd in Alibaba Group in 2012 has paid off. Khazanah’s investment in the e-commerce giant from China is estimated to be valued at between US$1bil and US$1.2bil (RM3.22bil and RM3.86bil), a between four and five-fold increase of its initial US$250mil investment. (more…)

]]>
http://www.opalesque.com/SWF_Briefing/?feed=rss2&p=15950
Khazanah to set up outplacement centre for redundant MAS http://www.opalesque.com/SWF_Briefing/?p=15949 http://www.opalesque.com/SWF_Briefing/?p=15949#comments Thu, 18 Sep 2014 23:38:35 +0000 VRS http://www.opalesque.com/SWF_Briefing/?p=15949 <br> <a href=http://www.opalesque.com/SWF_Briefing/?p=15949>Article Link</a> Khazanah Nasional Bhd is to set up a special centre to provide “outplacement support” to some 6,000 Malaysia Airlines (MAS) staff to be made redundant as part of its restructuring process. A source familiar with the restructuring said the focus of the outplacement centre (OPC) would be to extend all relevant and required support to the various groups of employees leaving the national airline. This would include professional, emotional and financial support to assist them as they transition out to the next stage of their career. (more…)

]]>
http://www.opalesque.com/SWF_Briefing/?feed=rss2&p=15949
Sovereign wealth funds cheer FPI framework; double assets in 10 months http://www.opalesque.com/SWF_Briefing/?p=15948 http://www.opalesque.com/SWF_Briefing/?p=15948#comments Thu, 18 Sep 2014 23:38:20 +0000 VRS http://www.opalesque.com/SWF_Briefing/?p=15948 <br> <a href=http://www.opalesque.com/SWF_Briefing/?p=15948>Article Link</a> Recent regulatory changes introduced by the Securities and Exchange Board of India (Sebi) with regards to foreign investors seem to have gone down well with sovereign wealth funds (SWFs), who have more than doubled their equity assets in the last 10-12 months. (more…)

]]>
http://www.opalesque.com/SWF_Briefing/?feed=rss2&p=15948
Scottish oil fund ‘would be worth billions’ http://www.opalesque.com/SWF_Briefing/?p=15947 http://www.opalesque.com/SWF_Briefing/?p=15947#comments Thu, 18 Sep 2014 01:53:36 +0000 VRS http://www.opalesque.com/SWF_Briefing/?p=15947 <br> <a href=http://www.opalesque.com/SWF_Briefing/?p=15947>Article Link</a> A Scottish sovereign wealth fund could produce a recurring oil income worth billions to an independent Scotland, according to a new analysis. The economic outlook found that if only £1.2 billion was invested each year into an oil fund and delivered similar growth to the Norwegian Fund, then Scotland could expect a fund worth £73.64 billion in 24 years. (more…)

]]>
http://www.opalesque.com/SWF_Briefing/?feed=rss2&p=15947
Oil fund post-Yes vote ‘could reach £147bn’ http://www.opalesque.com/SWF_Briefing/?p=15946 http://www.opalesque.com/SWF_Briefing/?p=15946#comments Thu, 18 Sep 2014 01:53:24 +0000 VRS http://www.opalesque.com/SWF_Briefing/?p=15946 <br> <a href=http://www.opalesque.com/SWF_Briefing/?p=15946>Article Link</a> Scottish independence: An independent Scotland could amass an oil fund that would “never run out” and reach £147 billion within 25 years of a Yes vote, according to new research. The SNP Government wants to set up a Norwegian style fund and a report by leading North Sea employment firm oilandgaspeople.com finds it could eventually bring in an income of between £2.9 billion and £5.8 billion - the same amount as North Sea taxes alone. (more…)

]]>
http://www.opalesque.com/SWF_Briefing/?feed=rss2&p=15946
Look at Norway’s independence example http://www.opalesque.com/SWF_Briefing/?p=15945 http://www.opalesque.com/SWF_Briefing/?p=15945#comments Thu, 18 Sep 2014 01:53:02 +0000 VRS http://www.opalesque.com/SWF_Briefing/?p=15945 <br> <a href=http://www.opalesque.com/SWF_Briefing/?p=15945>Article Link</a> Norway’s oil discovery happened at much the same time, but there was a significant difference in the way the Norwegians dealt with the wealth that came with the striking of black gold. The state has retained control of the Norwegian oil industry, and set up a sovereign wealth fund to use its oil income to best effect. (more…)

]]>
http://www.opalesque.com/SWF_Briefing/?feed=rss2&p=15945
Boston Properties to Sell Stakes in 3 Buildings to Norway Fund http://www.opalesque.com/SWF_Briefing/?p=15944 http://www.opalesque.com/SWF_Briefing/?p=15944#comments Thu, 18 Sep 2014 01:52:47 +0000 VRS http://www.opalesque.com/SWF_Briefing/?p=15944 <br> <a href=http://www.opalesque.com/SWF_Briefing/?p=15944>Article Link</a> Boston Properties Inc. ( BXP ) agreed to sell a 45% interest in three buildings in New York City and Boston to affiliates of Norway’s sovereign-wealth fund for $1.5 billion. The deal with Norges Bank Investment Management involves stakes in 601 Lexington Avenue in New York City, as well as the Atlantic Wharf Office Building and 100 Federal Street in Boston. Each building is at least 91% leased. (more…)

]]>
http://www.opalesque.com/SWF_Briefing/?feed=rss2&p=15944
BTK railway to be commissioned in 2015 http://www.opalesque.com/SWF_Briefing/?p=15943 http://www.opalesque.com/SWF_Briefing/?p=15943#comments Thu, 18 Sep 2014 01:52:34 +0000 VRS http://www.opalesque.com/SWF_Briefing/?p=15943 <br> <a href=http://www.opalesque.com/SWF_Briefing/?p=15943>Article Link</a> All the technical work on the creation of railway lines to the Georgian-Turkish border will be completed before the end of September within the framework of the project of the Baku-Tbilisi-Kars railway construction, Deputy Transport Minister Musa Panahov told reporters Sept.17. (more…)

]]>
http://www.opalesque.com/SWF_Briefing/?feed=rss2&p=15943
Moody’s applauds Khazanah’s key role in national development http://www.opalesque.com/SWF_Briefing/?p=15942 http://www.opalesque.com/SWF_Briefing/?p=15942#comments Thu, 18 Sep 2014 01:52:17 +0000 VRS http://www.opalesque.com/SWF_Briefing/?p=15942 <br> <a href=http://www.opalesque.com/SWF_Briefing/?p=15942>Article Link</a> Moody’s Investors Service has commended Khazanah Nasional Bhd over the key role it plays in national development through continuous strategic investment. It said Khazanah’s leading role in the Malaysian Airlines restructuring plan illustrated the potential impact of sovereign wealth funds on debt sustainability. (more…)

]]>
http://www.opalesque.com/SWF_Briefing/?feed=rss2&p=15942
UniCredit seen picking talks partner for Pioneer end-Sept-sources http://www.opalesque.com/SWF_Briefing/?p=15941 http://www.opalesque.com/SWF_Briefing/?p=15941#comments Thu, 18 Sep 2014 01:52:02 +0000 VRS http://www.opalesque.com/SWF_Briefing/?p=15941 <br> <a href=http://www.opalesque.com/SWF_Briefing/?p=15941>Article Link</a> UniCredit, Italy’s biggest bank by assets, is expected to pick a partner for exclusive talks to buy a stake of up to 50 percent in its asset management division Pioneer towards the end of September, two sources familiar with the matter said. (more…)

]]>
http://www.opalesque.com/SWF_Briefing/?feed=rss2&p=15941
John Key faces surprise risks on path to third term http://www.opalesque.com/SWF_Briefing/?p=15940 http://www.opalesque.com/SWF_Briefing/?p=15940#comments Thu, 18 Sep 2014 01:51:42 +0000 VRS http://www.opalesque.com/SWF_Briefing/?p=15940 <br> <a href=http://www.opalesque.com/SWF_Briefing/?p=15940>Article Link</a> If you are a two-term prime minister like New Zealand’s John Key and you want a third - with your personal popularity near 60 per cent, a 3.8 per cent economic growth rate making your nation one of the five fastest-growing developed economies and the so-called Kiwi brain drain slowing - you’d think the only way to blow an election victory would be to lose yourself. (more…)

]]>
http://www.opalesque.com/SWF_Briefing/?feed=rss2&p=15940
Norway Fund to Invest $1.5 Billion in Office Properties http://www.opalesque.com/SWF_Briefing/?p=15939 http://www.opalesque.com/SWF_Briefing/?p=15939#comments Tue, 16 Sep 2014 23:44:46 +0000 VRS http://www.opalesque.com/SWF_Briefing/?p=15939 <br> <a href=http://www.opalesque.com/SWF_Briefing/?p=15939>Article Link</a> Norway’s sovereign-wealth fund, the world’s largest, agreed to buy stakes in three prime U.S. office buildings for about $1.5 billion, extending a real estate shopping spree as it seeks higher-yielding assets. (more…)

]]>
http://www.opalesque.com/SWF_Briefing/?feed=rss2&p=15939
Russia’s biggest bank looks East http://www.opalesque.com/SWF_Briefing/?p=15938 http://www.opalesque.com/SWF_Briefing/?p=15938#comments Tue, 16 Sep 2014 23:44:21 +0000 VRS http://www.opalesque.com/SWF_Briefing/?p=15938 <br> <a href=http://www.opalesque.com/SWF_Briefing/?p=15938>Article Link</a> The turmoil that is engulfing Ukraine and chilling ties between Russia and the West could have an unexpected silver lining for Singapore as companies caught up in the crossfire look East. A change in direction appears especially enticing for giant lender Sberbank. (more…)

]]>
http://www.opalesque.com/SWF_Briefing/?feed=rss2&p=15938
Why 1MDB is often misunderstood http://www.opalesque.com/SWF_Briefing/?p=15937 http://www.opalesque.com/SWF_Briefing/?p=15937#comments Tue, 16 Sep 2014 23:44:03 +0000 VRS http://www.opalesque.com/SWF_Briefing/?p=15937 <br> <a href=http://www.opalesque.com/SWF_Briefing/?p=15937>Article Link</a> Its corporate tagline “Forging partnerships, advancing growth” is clearly visible on the hoarding boards at the site of the future Tun Razak Exchange. As work goes on unassumingly to lay the groundwork for Malaysia’s international financial district, the world is watching anxiously to see the kind of growth its master developer 1Malaysia Development Bhd (1MDB) will be advancing. (more…)

]]>
http://www.opalesque.com/SWF_Briefing/?feed=rss2&p=15937
Kong Hee: Xtron was ‘like our own GIC’ http://www.opalesque.com/SWF_Briefing/?p=15936 http://www.opalesque.com/SWF_Briefing/?p=15936#comments Tue, 16 Sep 2014 23:43:17 +0000 VRS http://www.opalesque.com/SWF_Briefing/?p=15936 <br> <a href=http://www.opalesque.com/SWF_Briefing/?p=15936>Article Link</a> Xtron was set-up in 2003 by three church members to run the music career of pastor Kong Hee’s wife, Sun Ho, as well as to own and manage future properties the church could use. Court documents revealed the minutes of an extraordinary general meeting on 10 August 2008, in which church founder Kong described Xtron as being the church’s “own GIC”, Channel NewsAsia reported. (more…)

]]>
http://www.opalesque.com/SWF_Briefing/?feed=rss2&p=15936
CCI gives thumbs-up to Temasek’s 10.16% stake buy in Intas http://www.opalesque.com/SWF_Briefing/?p=15935 http://www.opalesque.com/SWF_Briefing/?p=15935#comments Tue, 16 Sep 2014 03:18:08 +0000 VRS http://www.opalesque.com/SWF_Briefing/?p=15935 <br> <a href=http://www.opalesque.com/SWF_Briefing/?p=15935>Article Link</a> Fair trade regulator CCI has cleared Singapore government investment arm Temasek Holding’s proposed acquisition of 10.16 per cent stake in Indian firm Intas Pharmaceuticals, saying the deal will not raise anti-competition concerns. (more…)

]]>
http://www.opalesque.com/SWF_Briefing/?feed=rss2&p=15935
1MDB’s IPO delayed due to LONGER-THAN-EXPECTED due diligence http://www.opalesque.com/SWF_Briefing/?p=15934 http://www.opalesque.com/SWF_Briefing/?p=15934#comments Tue, 16 Sep 2014 03:17:55 +0000 VRS http://www.opalesque.com/SWF_Briefing/?p=15934 <br> <a href=http://www.opalesque.com/SWF_Briefing/?p=15934>Article Link</a> Malaysian state investor 1Malaysia Development Bhd (1MDB) has delayed a more than US$3 billion IPO due to a longer-than-expected due-diligence process and negotiations around the restructuring of a RM5.5 billion (US$1.7 billion) loan, people familiar with the matter said. (more…)

]]>
http://www.opalesque.com/SWF_Briefing/?feed=rss2&p=15934
Ahmad Jauhari to remain as Malaysia Airlines CEO for another year http://www.opalesque.com/SWF_Briefing/?p=15933 http://www.opalesque.com/SWF_Briefing/?p=15933#comments Tue, 16 Sep 2014 03:17:33 +0000 VRS http://www.opalesque.com/SWF_Briefing/?p=15933 <br> <a href=http://www.opalesque.com/SWF_Briefing/?p=15933>Article Link</a> The contract of Ahmad Jauhari Yahya as managing director/group chief executive officer (CEO) of Malaysia Airlines (MAS) has been extended for a year from Sep 20, 2014 to Sep 19, 2015. MAS announced this in a statement to Bursa Malaysia on Monday (Sep 15). (more…)

]]>
http://www.opalesque.com/SWF_Briefing/?feed=rss2&p=15933
China’s global mining play is failing to pan out http://www.opalesque.com/SWF_Briefing/?p=15932 http://www.opalesque.com/SWF_Briefing/?p=15932#comments Tue, 16 Sep 2014 03:17:12 +0000 VRS http://www.opalesque.com/SWF_Briefing/?p=15932 <br> <a href=http://www.opalesque.com/SWF_Briefing/?p=15932>Article Link</a> China’s National Audit Office in June blamed mismanagement for losses on at least 10 foreign investments by China Investment Corp., the US$600 billion sovereign-wealth fund that bought tens of billions of dollars in resource-related holdings between 2009 and 2012. The office didn’t specify which deals. (more…)

]]>
http://www.opalesque.com/SWF_Briefing/?feed=rss2&p=15932
Angola’s Sovereign Wealth Fund Is Underway http://www.opalesque.com/SWF_Briefing/?p=15930 http://www.opalesque.com/SWF_Briefing/?p=15930#comments Tue, 16 Sep 2014 03:16:40 +0000 VRS http://www.opalesque.com/SWF_Briefing/?p=15930 <br> <a href=http://www.opalesque.com/SWF_Briefing/?p=15930>Article Link</a> Announced in 2008, established in 2012, and receiving the final installment of its initial endowment in June of this year, Fundo Soberano de Angola (Angola’s sovereign wealth fund) finally has progressed to investing its $5 billion in assets. In a series of recent interviews, fund Chairman José Filomeno Dos Santos has been detailing how the fund’s portfolio will be diversified and answering questions about its governance structure. (more…)

]]>
http://www.opalesque.com/SWF_Briefing/?feed=rss2&p=15930
Brian Tipple joins ADIA http://www.opalesque.com/SWF_Briefing/?p=15929 http://www.opalesque.com/SWF_Briefing/?p=15929#comments Tue, 16 Sep 2014 03:16:28 +0000 VRS http://www.opalesque.com/SWF_Briefing/?p=15929 <br> <a href=http://www.opalesque.com/SWF_Briefing/?p=15929>Article Link</a> The Abu Dhabi Investment Authority (ADIA) has appointed Brian Tipple as its first global head of external equities. Tipple will manage the department’s team of investment professionals and will report to Obaid Al Suwaidi, executive director of external equities at ADIA. (more…)

]]>
http://www.opalesque.com/SWF_Briefing/?feed=rss2&p=15929
Dubai To Build $1.4B Royal Atlantis Resort By 2018 http://www.opalesque.com/SWF_Briefing/?p=15928 http://www.opalesque.com/SWF_Briefing/?p=15928#comments Tue, 16 Sep 2014 03:16:17 +0000 VRS http://www.opalesque.com/SWF_Briefing/?p=15928 <br> <a href=http://www.opalesque.com/SWF_Briefing/?p=15928>Article Link</a> Sovereign wealth fund Investment Corporation of Dubai announced on Monday plans for the $1.4 billion Royal Atlantis Resort and Residences on Palm Jumeirah island in Dubai, one of several new projects to be completed over the next three years. (more…)

]]>
http://www.opalesque.com/SWF_Briefing/?feed=rss2&p=15928
Dubai’s ICD buys $300 million stake in Dangote Cement http://www.opalesque.com/SWF_Briefing/?p=15927 http://www.opalesque.com/SWF_Briefing/?p=15927#comments Tue, 16 Sep 2014 03:16:01 +0000 VRS http://www.opalesque.com/SWF_Briefing/?p=15927 <br> <a href=http://www.opalesque.com/SWF_Briefing/?p=15927>Article Link</a> Sovereign fund Investment Corp of Dubai (ICD) has bought a 1.4 percent stake in Dangote Cement, Nigeria’s biggest company by market capitalisation, for $300 million, a Dangote spokesman said on September 08. Dangote Cement spokesman Carl Franklin confirmed the sale, but provided no further details. (more…)

]]>
http://www.opalesque.com/SWF_Briefing/?feed=rss2&p=15927
Investment Corporation of Dubai and Kerzner International to Redefine Luxury in Dubai with The Royal Atlantis Resort and Residences on The Palm http://www.opalesque.com/SWF_Briefing/?p=15926 http://www.opalesque.com/SWF_Briefing/?p=15926#comments Tue, 16 Sep 2014 03:15:50 +0000 VRS http://www.opalesque.com/SWF_Briefing/?p=15926 <br> <a href=http://www.opalesque.com/SWF_Briefing/?p=15926>Article Link</a> Investment Corporation of Dubai (ICD) and Kerzner International Holdings Limited (Kerzner), a leading international developer and operator of destination resorts and luxury hotels, today unveiled plans to forever enhance the landscape of Dubai with The Royal Atlantis Resort and Residences. Located on the crescent of The Palm and next to the iconic Atlantis resort, this new generation of distinctive luxury will offer a sophisticated lifestyle experience, edgier than any resort in the region, with infinite ocean views, accented with lush green spaces, encapsulated in dramatic architecture. (more…)

]]>
http://www.opalesque.com/SWF_Briefing/?feed=rss2&p=15926
Bulgarian central bank says wants early talks on Corpbank rescue http://www.opalesque.com/SWF_Briefing/?p=15925 http://www.opalesque.com/SWF_Briefing/?p=15925#comments Tue, 16 Sep 2014 03:15:36 +0000 VRS http://www.opalesque.com/SWF_Briefing/?p=15925 <br> <a href=http://www.opalesque.com/SWF_Briefing/?p=15925>Article Link</a> Vienna-based advisory firm EPIC, acting for Corpbank’s main shareholders and potential investors, is seeking to start work with the central bank this week on a rescue plan for Bulgaria’s fourth largest lender, shut since June 20 after a run on deposits. (more…)

]]>
http://www.opalesque.com/SWF_Briefing/?feed=rss2&p=15925
Calpers to Exit Hedge Funds http://www.opalesque.com/SWF_Briefing/?p=15924 http://www.opalesque.com/SWF_Briefing/?p=15924#comments Tue, 16 Sep 2014 03:15:24 +0000 VRS http://www.opalesque.com/SWF_Briefing/?p=15924 <br> <a href=http://www.opalesque.com/SWF_Briefing/?p=15924>Article Link</a> The largest U.S. public pension plan is getting out of hedge funds as part of an effort to simplify its assets and reduce costs, a retreat that could prompt other cities and states to consider similar moves. The California Public Employees’ Retirement System said Monday it would shed its entire $4 billion investment in hedge funds over the next year. (more…)

]]>
http://www.opalesque.com/SWF_Briefing/?feed=rss2&p=15924
3 Trends Forcing Sovereign Funds to Rethink Tactical Asset Allocation http://www.opalesque.com/SWF_Briefing/?p=15923 http://www.opalesque.com/SWF_Briefing/?p=15923#comments Tue, 16 Sep 2014 03:15:11 +0000 VRS http://www.opalesque.com/SWF_Briefing/?p=15923 <br> <a href=http://www.opalesque.com/SWF_Briefing/?p=15923>Article Link</a> Paris-based Organization for Economic Cooperation and Development (OECD) chopped its economic growth forecast for the United States and other large developed countries. The OECD painted a picture of the Eurozone facing very low inflation rates, pushing back demand and heightening unemployment. (more…)

]]>
http://www.opalesque.com/SWF_Briefing/?feed=rss2&p=15923
NZ: Cunliffe unveils sovereign wealth fund policy http://www.opalesque.com/SWF_Briefing/?p=15922 http://www.opalesque.com/SWF_Briefing/?p=15922#comments Mon, 15 Sep 2014 03:32:34 +0000 VRS http://www.opalesque.com/SWF_Briefing/?p=15922 <br> <a href=http://www.opalesque.com/SWF_Briefing/?p=15922>Article Link</a> A Labour Government would establish a sovereign wealth fund to invest in new businesses, including clean energy projects using dividend cash from the remaining stakes in mixed ownership model companies and higher oil and gas royalties, leader David Cunliffe says. (more…)

]]>
http://www.opalesque.com/SWF_Briefing/?feed=rss2&p=15922
Labour’s late call for a sovereign wealth fund http://www.opalesque.com/SWF_Briefing/?p=15921 http://www.opalesque.com/SWF_Briefing/?p=15921#comments Mon, 15 Sep 2014 03:32:18 +0000 VRS http://www.opalesque.com/SWF_Briefing/?p=15921 <br> <a href=http://www.opalesque.com/SWF_Briefing/?p=15921>Article Link</a> Its announcement of the NZ Inc fund, a sovereign wealth-type fund, would be seeded in the first instance by $100 million a year in dividend income from the government’s ongoing ownership of partially privatised electricity and airline assets, and from any other state-owned companies that happen to turn a profit. (more…)

]]>
http://www.opalesque.com/SWF_Briefing/?feed=rss2&p=15921
1MDB pioneering a new sovereign investment model http://www.opalesque.com/SWF_Briefing/?p=15920 http://www.opalesque.com/SWF_Briefing/?p=15920#comments Mon, 15 Sep 2014 03:32:02 +0000 VRS http://www.opalesque.com/SWF_Briefing/?p=15920 <br> <a href=http://www.opalesque.com/SWF_Briefing/?p=15920>Article Link</a> Recent reports of state investment body 1Malaysia Development Bhd (1MDB) suggest the business model being pioneered by this outfit could mark a new direction that may be adopted by similar sovereign bodies worldwide. (more…)

]]>
http://www.opalesque.com/SWF_Briefing/?feed=rss2&p=15920
GIC, others invest S$885m in XPO Logistics http://www.opalesque.com/SWF_Briefing/?p=15919 http://www.opalesque.com/SWF_Briefing/?p=15919#comments Mon, 15 Sep 2014 03:31:48 +0000 VRS http://www.opalesque.com/SWF_Briefing/?p=15919 <br> <a href=http://www.opalesque.com/SWF_Briefing/?p=15919>Article Link</a> Singapore’s sovereign wealth fund GIC and two other investors will invest US$700 million (S$885.57 million) in US-listed XPO Logistics to help the transport company grow at a faster pace. XPO Logistics facilitates more than 31,000 deliveries a day as one of the fastest growing providers of transportation logistics services in North America, according to the firm’s website. The firm operates out of 203 locations and has about 10,400 employees. (more…)

]]>
http://www.opalesque.com/SWF_Briefing/?feed=rss2&p=15919
State funds give mixed views on managers http://www.opalesque.com/SWF_Briefing/?p=15918 http://www.opalesque.com/SWF_Briefing/?p=15918#comments Mon, 15 Sep 2014 03:31:37 +0000 VRS http://www.opalesque.com/SWF_Briefing/?p=15918 <br> <a href=http://www.opalesque.com/SWF_Briefing/?p=15918>Article Link</a> Appetite for alternative investments is only set to increase among institutional investors globally, with long-term contrarian external managers very hard to find. But while the evolution of institutional investment models falls into a similar pattern, starting with traditional public market exposures before expansion by geography and asset class, state funds’ views on the use of external managers varies markedly, speakers revealed at our China Investment Forum. (more…)

]]>
http://www.opalesque.com/SWF_Briefing/?feed=rss2&p=15918
Kenya to establish sovereign wealth fund http://www.opalesque.com/SWF_Briefing/?p=15917 http://www.opalesque.com/SWF_Briefing/?p=15917#comments Mon, 15 Sep 2014 03:31:17 +0000 VRS http://www.opalesque.com/SWF_Briefing/?p=15917 <br> <a href=http://www.opalesque.com/SWF_Briefing/?p=15917>Article Link</a> Kenya is fast tracking the establishment of the National Sovereign Wealth Fund (NSWF) that will invest with revenues from the country’s natural resources, the presidency said in a statement on Friday. (more…)

]]>
http://www.opalesque.com/SWF_Briefing/?feed=rss2&p=15917
Portfolios, investment funds performance still limited at KSE http://www.opalesque.com/SWF_Briefing/?p=15916 http://www.opalesque.com/SWF_Briefing/?p=15916#comments Mon, 15 Sep 2014 03:31:03 +0000 VRS http://www.opalesque.com/SWF_Briefing/?p=15916 <br> <a href=http://www.opalesque.com/SWF_Briefing/?p=15916>Article Link</a> Financial analysts said the performance of the financial portfolios and the investment funds at the Kuwait Stock Exchange (KSE) is still limited, though they lead trading, either up or down. A host of control rules have to a great extent restricted the performance of investment funds, and that of portfolios is limited regarding the opportunities available on the market, said two analysts interviewed by KUNA. (more…)

]]>
http://www.opalesque.com/SWF_Briefing/?feed=rss2&p=15916
Africa sovereign funds tread tricky path on investments http://www.opalesque.com/SWF_Briefing/?p=15915 http://www.opalesque.com/SWF_Briefing/?p=15915#comments Fri, 12 Sep 2014 03:02:15 +0000 VRS http://www.opalesque.com/SWF_Briefing/?p=15915 <br> <a href=http://www.opalesque.com/SWF_Briefing/?p=15915>Article Link</a> As the oil producers of sub-Saharan Africa rush to create sovereign wealth funds, competing pressures to boost living standards now while saving for the future can throw up as many problems as they solve. (more…)

]]>
http://www.opalesque.com/SWF_Briefing/?feed=rss2&p=15915
‘Blurred lines’ on Angolan wealth fund http://www.opalesque.com/SWF_Briefing/?p=15914 http://www.opalesque.com/SWF_Briefing/?p=15914#comments Fri, 12 Sep 2014 03:02:02 +0000 VRS http://www.opalesque.com/SWF_Briefing/?p=15914 <br> <a href=http://www.opalesque.com/SWF_Briefing/?p=15914>Article Link</a> The launch of Angola’s $5-billion sovereign wealth fund was hailed as a major step in the country’s post-war economic development and asset managers from around the world licked their lips in anticipation of an opportunity to work with Africa’s second-biggest oil producer. (more…)

]]>
http://www.opalesque.com/SWF_Briefing/?feed=rss2&p=15914
Singapore’s GIC invests US$700 million in XPO Logistics http://www.opalesque.com/SWF_Briefing/?p=15913 http://www.opalesque.com/SWF_Briefing/?p=15913#comments Fri, 12 Sep 2014 03:01:46 +0000 VRS http://www.opalesque.com/SWF_Briefing/?p=15913 <br> <a href=http://www.opalesque.com/SWF_Briefing/?p=15913>Article Link</a> Singapore’s sovereign fund GIC is joining PSP Investments and Ontario Teachers’ Pension Plan in together investing US$700 million (RM2.2 billion) in XPO Logistics Inc, the US company said, adding it plans to use proceeds for unspecified acquisitions. (more…)

]]>
http://www.opalesque.com/SWF_Briefing/?feed=rss2&p=15913
No energy $$ deposited in Heritage Fund for 2014 http://www.opalesque.com/SWF_Briefing/?p=15912 http://www.opalesque.com/SWF_Briefing/?p=15912#comments Fri, 12 Sep 2014 03:01:31 +0000 VRS http://www.opalesque.com/SWF_Briefing/?p=15912 <br> <a href=http://www.opalesque.com/SWF_Briefing/?p=15912>Article Link</a> No money from the energy sector was deposited in the Heritage and Stabilisation Fund during fiscal 2014 because oil revenues fell, Finance Minister Larry Howai has said. In 2013, $271 million was transferred to the Fund which was established as a “rainy day” financial relief mechanism if the country becomes economically constrained. (more…)

]]>
http://www.opalesque.com/SWF_Briefing/?feed=rss2&p=15912
Kazakh fund Samruk-Kazyna puts 14 companies on sale http://www.opalesque.com/SWF_Briefing/?p=15911 http://www.opalesque.com/SWF_Briefing/?p=15911#comments Fri, 12 Sep 2014 03:01:13 +0000 VRS http://www.opalesque.com/SWF_Briefing/?p=15911 <br> <a href=http://www.opalesque.com/SWF_Briefing/?p=15911>Article Link</a> Samruk-Kazyna group of companies concludes assets presale preparation scheduled to be transferred in the private sector in September 2014, the deputy chairman of the Samruk-Kazyna National Welfare Fund Elena Bakhmutova told Trend Sept. 10. “The fund plans to auction 14 companies in September 2014. Assessment procedure on the current assets is being finalized,” Bakhmutova said, speaking to reporters in Astana. (more…)

]]>
http://www.opalesque.com/SWF_Briefing/?feed=rss2&p=15911
RKIF to invest in Children’s World http://www.opalesque.com/SWF_Briefing/?p=15910 http://www.opalesque.com/SWF_Briefing/?p=15910#comments Fri, 12 Sep 2014 03:01:01 +0000 VRS http://www.opalesque.com/SWF_Briefing/?p=15910 <br> <a href=http://www.opalesque.com/SWF_Briefing/?p=15910>Article Link</a> Russia-China Investment Fund (RKIF) has reached an agreement in principle to invest in the company, “Children’s World”, is a major player in the sector of specialized network of trade in goods for children in Russia. To date, 100% of the share capital of the company is controlled by AFK “System”. Created by the Russian Direct Investment Fund and China Investment Corporation,RKIF focuses on cross-border transactions. (more…)

]]>
http://www.opalesque.com/SWF_Briefing/?feed=rss2&p=15910
Oman SWF Working With Bulgaria To Solve Corpbank Problem http://www.opalesque.com/SWF_Briefing/?p=15909 http://www.opalesque.com/SWF_Briefing/?p=15909#comments Fri, 12 Sep 2014 03:00:49 +0000 VRS http://www.opalesque.com/SWF_Briefing/?p=15909 <br> <a href=http://www.opalesque.com/SWF_Briefing/?p=15909>Article Link</a> Corpbank, in which Oman’s SGRF is the second-biggest shareholder with a stake of about 30 per cent, was hit by a run on deposits in June. Oman’s biggest sovereign wealth fund, the State General Reserve Fund (SGRF), is working with the Bulgarian government to try to resolve problems at Corporate Commercial Bank (Corpbank), the SGRF’s chairman said on Wednesday. (more…)

]]>
http://www.opalesque.com/SWF_Briefing/?feed=rss2&p=15909
Jose Dos Santos: Angolan wealth fund chief and president’s son (Video) http://www.opalesque.com/SWF_Briefing/?p=15908 http://www.opalesque.com/SWF_Briefing/?p=15908#comments Thu, 11 Sep 2014 03:14:43 +0000 VRS http://www.opalesque.com/SWF_Briefing/?p=15908 <br> <a href=http://www.opalesque.com/SWF_Briefing/?p=15908>Article Link</a> Angola has announced that it has identified direct investments in sub-Saharan Africa, and is poised to start deploying up to a third of its $5bn (£3.1bn) sovereign wealth fund to start developing them. The fund was set up in 2012 to invest Angola’s oil wealth and ensure a steady income for future generations. (more…)

]]>
http://www.opalesque.com/SWF_Briefing/?feed=rss2&p=15908
Oman fund says working with Bulgaria to solve Corpbank problems http://www.opalesque.com/SWF_Briefing/?p=15907 http://www.opalesque.com/SWF_Briefing/?p=15907#comments Thu, 11 Sep 2014 03:14:30 +0000 VRS http://www.opalesque.com/SWF_Briefing/?p=15907 <br> <a href=http://www.opalesque.com/SWF_Briefing/?p=15907>Article Link</a> Oman’s biggest sovereign wealth fund, the State General Reserve Fund (SGRF), is working with the Bulgarian government to try to resolve problems at Corporate Commercial Bank (Corpbank), the SGRF’s chairman said on Wednesday. (more…)

]]>
http://www.opalesque.com/SWF_Briefing/?feed=rss2&p=15907
Ghana’s Sovereign Wealth Fund management hailed internationally http://www.opalesque.com/SWF_Briefing/?p=15906 http://www.opalesque.com/SWF_Briefing/?p=15906#comments Thu, 11 Sep 2014 03:14:19 +0000 VRS http://www.opalesque.com/SWF_Briefing/?p=15906 <br> <a href=http://www.opalesque.com/SWF_Briefing/?p=15906>Article Link</a> Alongside giants like Norway, arrangements put in place by the Government and People of Ghana, for the management of Oil and Gas Revenues has received international commendation at a public discussion event on Sovereign Wealth Funds organised by Chatham house (The Royal Institute of International Affairs) in London. (more…)

]]>
http://www.opalesque.com/SWF_Briefing/?feed=rss2&p=15906
Nigeria SWF to buy stake in gas processing plant http://www.opalesque.com/SWF_Briefing/?p=15905 http://www.opalesque.com/SWF_Briefing/?p=15905#comments Thu, 11 Sep 2014 03:14:07 +0000 VRS http://www.opalesque.com/SWF_Briefing/?p=15905 <br> <a href=http://www.opalesque.com/SWF_Briefing/?p=15905>Article Link</a> The Nigeria Sovereign Investment Authority (NSIA) will in a couple of weeks announce a major investment in gas processing plants with the aim of solving the problem of gas in the power sector of the economy, says Uche Orji, chief executive, NSIA, managers of the nation’s sovereign wealth fund. (more…)

]]>
http://www.opalesque.com/SWF_Briefing/?feed=rss2&p=15905
1MDB is national debt, not surplus, says Dr M http://www.opalesque.com/SWF_Briefing/?p=15904 http://www.opalesque.com/SWF_Briefing/?p=15904#comments Thu, 11 Sep 2014 03:13:48 +0000 VRS http://www.opalesque.com/SWF_Briefing/?p=15904 <br> <a href=http://www.opalesque.com/SWF_Briefing/?p=15904>Article Link</a> Former prime minister Mahathir Mohamad has disputed Salleh Said Keruak’s recent statement describing 1MDB as an education fund. In true Mahathir fashion, he quipped he wasn’t at all aware of any use of the funds from 1MDB for education. (more…)

]]>
http://www.opalesque.com/SWF_Briefing/?feed=rss2&p=15904
Dr M raises eyebrow at 1MDB’s debt buildup http://www.opalesque.com/SWF_Briefing/?p=15903 http://www.opalesque.com/SWF_Briefing/?p=15903#comments Thu, 11 Sep 2014 03:13:36 +0000 VRS http://www.opalesque.com/SWF_Briefing/?p=15903 <br> <a href=http://www.opalesque.com/SWF_Briefing/?p=15903>Article Link</a> Tun Dr Mahathir Mohamad has expressed concern over the debt being amassed by sovereign wealth fund 1MDB, warning that this could overwhelm Putrajaya’s already strained finances. The former prime minister also questioned why Malaysia needed a state investment fund such as the 1MDB, pointing out that these were usually formed by countries with a surfeit of wealth and revenue, rather than one heavily in debt. (more…)

]]>
http://www.opalesque.com/SWF_Briefing/?feed=rss2&p=15903
MAS needs harder reset to get out of tailspin http://www.opalesque.com/SWF_Briefing/?p=15902 http://www.opalesque.com/SWF_Briefing/?p=15902#comments Thu, 11 Sep 2014 03:13:19 +0000 VRS http://www.opalesque.com/SWF_Briefing/?p=15902 <br> <a href=http://www.opalesque.com/SWF_Briefing/?p=15902>Article Link</a> The figures from what Khazanah Nasional called a “hard reset” of beleaguered flag carrier Malaysia Airlines (MAS) certainly sounded impressive - it would slash 6,000 jobs and pump in RM6 billion (S$2.4 billion). But the sovereign wealth fund’s rescue plan for an airline that has lost RM5 billion since 2011 is not quite as bold as it seems in this age of the sound bite. (more…)

]]>
http://www.opalesque.com/SWF_Briefing/?feed=rss2&p=15902
Temasek exchanges on GBP175mln City buy http://www.opalesque.com/SWF_Briefing/?p=15901 http://www.opalesque.com/SWF_Briefing/?p=15901#comments Thu, 11 Sep 2014 03:13:06 +0000 VRS http://www.opalesque.com/SWF_Briefing/?p=15901 <br> <a href=http://www.opalesque.com/SWF_Briefing/?p=15901>Article Link</a> Temasek Holdings, a sovereign wealth fund owned by the Government of Singapore, has exchanged contracts on its purchase of a 50% stake in MidCity Place, heralding its debut purchase outside of Asia. Temasek has paid Beacon Capital Partners, advised by Eastdil Secured, just over £175m for the half share in the 336,901 sq ft EC1 office trophy, a deal first revealed by CoStar News last month. (more…)

]]>
http://www.opalesque.com/SWF_Briefing/?feed=rss2&p=15901
Kazakh fund Samruk-Kazyna puts 14 companies on sale http://www.opalesque.com/SWF_Briefing/?p=15900 http://www.opalesque.com/SWF_Briefing/?p=15900#comments Thu, 11 Sep 2014 03:12:41 +0000 VRS http://www.opalesque.com/SWF_Briefing/?p=15900 <br> <a href=http://www.opalesque.com/SWF_Briefing/?p=15900>Article Link</a> This month, the state holding “Samruk-Kazyna” intends to sell 14 companies, the press office of the Fund informs. “In September 2014 the fund plans to auction 14 companies”, the press-service of the state holding reported citing the deputy chairman of the Board of “Samruk-Kazyna” Elena Bakhmutova. (more…)

]]>
http://www.opalesque.com/SWF_Briefing/?feed=rss2&p=15900
Sovereign wealth’s new investment tactics http://www.opalesque.com/SWF_Briefing/?p=15899 http://www.opalesque.com/SWF_Briefing/?p=15899#comments Thu, 11 Sep 2014 03:12:10 +0000 VRS http://www.opalesque.com/SWF_Briefing/?p=15899 <br> <a href=http://www.opalesque.com/SWF_Briefing/?p=15899>Article Link</a> Since mid-year statistics revealed that sovereign wealth funds (SWFs) are making direct investments at a rate never seen before , attention has turned to their new profile in the M&A landscape.An increasing number of state-owned funds are shunning their reputation as long-term, passive investors by acquiring private companies direct and even investing in exchange-traded funds. (more…)

]]>
http://www.opalesque.com/SWF_Briefing/?feed=rss2&p=15899
CIC’s investment in Alibaba quadruples in two years http://www.opalesque.com/SWF_Briefing/?p=15898 http://www.opalesque.com/SWF_Briefing/?p=15898#comments Wed, 10 Sep 2014 03:00:35 +0000 VRS http://www.opalesque.com/SWF_Briefing/?p=15898 <br> <a href=http://www.opalesque.com/SWF_Briefing/?p=15898>Article Link</a> China Investment Corporation (CIC), which invested in e-commerce giant Alibaba two years ago, has quadrupled the value of its investment, reports our Chinese-language sister paper China Times. (more…)

]]>
http://www.opalesque.com/SWF_Briefing/?feed=rss2&p=15898