Opalesque Sovereign Wealth Funds Briefing http://www.opalesque.com/SWF_Briefing Fri, 22 Jul 2016 03:20:43 +0000 http://wordpress.org/?v=2.5.1 en White House calls for Malaysian transparency in wake of fund scandal http://www.opalesque.com/SWF_Briefing/?p=20293 http://www.opalesque.com/SWF_Briefing/?p=20293#comments Fri, 22 Jul 2016 03:20:43 +0000 VRS http://www.opalesque.com/SWF_Briefing/?p=20293 <br> <a href=http://www.opalesque.com/SWF_Briefing/?p=20293>Article Link</a> The White House urged Malaysia on Thursday to demonstrate good governance and a transparent business climate, a day after U.S. prosecutors sued to try and seize $1 billion in assets they said were bought with money stolen from a state development fund. (more…)

]]>
http://www.opalesque.com/SWF_Briefing/?feed=rss2&p=20293
Were You at the 1MDB Party? http://www.opalesque.com/SWF_Briefing/?p=20292 http://www.opalesque.com/SWF_Briefing/?p=20292#comments Fri, 22 Jul 2016 03:20:28 +0000 VRS http://www.opalesque.com/SWF_Briefing/?p=20292 <br> <a href=http://www.opalesque.com/SWF_Briefing/?p=20292>Article Link</a> The thing with the kind of investigation currently engulfing Malaysia’s sovereign investment fund 1MDB is that it’s hard to assess where the risk for investors ends. Unless you know exactly who was involved and to what extent, you might have to add a premium or a discount for companies with potential dotted lines to the eye of the storm. (more…)

]]>
http://www.opalesque.com/SWF_Briefing/?feed=rss2&p=20292
Malaysian State Fund Tied up in Money Laundering Scandal http://www.opalesque.com/SWF_Briefing/?p=20291 http://www.opalesque.com/SWF_Briefing/?p=20291#comments Fri, 22 Jul 2016 03:20:11 +0000 VRS http://www.opalesque.com/SWF_Briefing/?p=20291 <br> <a href=http://www.opalesque.com/SWF_Briefing/?p=20291>Article Link</a> A spokesman for Malaysian premier stated that 1MDB has been the subject of multiple inquiries in Malaysia and “the attorney general found that no crime was committed.” US prosecutors are trying to seize more than $1 billion in assets they said were tied to money stolen from the Malaysian state fund, overseen by the prime minister and used to finance The Wolf of Wall Street film, and to buy property and works of art. (more…)

]]>
http://www.opalesque.com/SWF_Briefing/?feed=rss2&p=20291
US$731m siphoned from 1MDB to ‘Malaysian Official 1′ account, says DOJ http://www.opalesque.com/SWF_Briefing/?p=20290 http://www.opalesque.com/SWF_Briefing/?p=20290#comments Fri, 22 Jul 2016 03:19:47 +0000 VRS http://www.opalesque.com/SWF_Briefing/?p=20290 <br> <a href=http://www.opalesque.com/SWF_Briefing/?p=20290>Article Link</a> US$731 million was allegedly siphoned from Malaysia’s sovereign wealth fund 1MDB into a bank account owned by the unnamed ‘Malaysian Official 1′, according to the lawsuit filed by the US Department of Justice (DOJ) yesterday. (more…)

]]>
http://www.opalesque.com/SWF_Briefing/?feed=rss2&p=20290
US says $1bn siphoned from 1MDB fund to finance gambling debts, private jet http://www.opalesque.com/SWF_Briefing/?p=20289 http://www.opalesque.com/SWF_Briefing/?p=20289#comments Fri, 22 Jul 2016 03:19:35 +0000 VRS http://www.opalesque.com/SWF_Briefing/?p=20289 <br> <a href=http://www.opalesque.com/SWF_Briefing/?p=20289>Article Link</a> The plot behind the 1Malaysia Development Berhad (1MDB) state fund scandal has thickened with the intervention of the United States government. Gambling debts in Las Vegas, a private jet, and funding for Oscar-nominated movie ‘The Wolf of Wall Street’ are among the opulent expenses allegedly bankrolled by the Malaysian sovereign wealth fund in a scandal involving billions of dollars of taxpayers’ money. (more…)

]]>
http://www.opalesque.com/SWF_Briefing/?feed=rss2&p=20289
Swiss seize Monet and Van Gogh paintings in 1MDB case http://www.opalesque.com/SWF_Briefing/?p=20288 http://www.opalesque.com/SWF_Briefing/?p=20288#comments Fri, 22 Jul 2016 03:19:21 +0000 VRS http://www.opalesque.com/SWF_Briefing/?p=20288 <br> <a href=http://www.opalesque.com/SWF_Briefing/?p=20288>Article Link</a> The Swiss authorities, acting on United States request, have seized three rare paintings linked to an investigation into the scandal-hit Malaysian state fund 1MDB. A spokeswoman for the Federal Office of Justice said the paintings were Vincent van Gogh’s La maison de Vincent à Arles and Claude Monet’s Saint-Georges Majeur and Nympheas avec Reflets de Hautes Herbes. (more…)

]]>
http://www.opalesque.com/SWF_Briefing/?feed=rss2&p=20288
How Will Goldman Sachs Stock Be Affected by Malaysian Fund Scandal? http://www.opalesque.com/SWF_Briefing/?p=20287 http://www.opalesque.com/SWF_Briefing/?p=20287#comments Fri, 22 Jul 2016 03:19:08 +0000 VRS http://www.opalesque.com/SWF_Briefing/?p=20287 <br> <a href=http://www.opalesque.com/SWF_Briefing/?p=20287>Article Link</a> Goldman Sachs (GS) is under fire this morning after the U.S. government alleged that Malaysian sovereign wealth fund 1MDB diverted billions of company dollars from bond sales issued by Goldman Sachs for the personal use of 1MDB officials, Reuters reports. (more…)

]]>
http://www.opalesque.com/SWF_Briefing/?feed=rss2&p=20287
UBS, StanChart, DBS face actions by MAS http://www.opalesque.com/SWF_Briefing/?p=20286 http://www.opalesque.com/SWF_Briefing/?p=20286#comments Fri, 22 Jul 2016 03:18:52 +0000 VRS http://www.opalesque.com/SWF_Briefing/?p=20286 <br> <a href=http://www.opalesque.com/SWF_Briefing/?p=20286>Article Link</a> Singapore’s regulator will take “firm regulatory actions” against UBS, Standard Chartered and DBS bank for serious failings in anti-money laundering controls relating to flows of cash linked to Malaysia’s state investment fund 1MDB. (more…)

]]>
http://www.opalesque.com/SWF_Briefing/?feed=rss2&p=20286
Singapore Seizures Ensnare Three Big Banks in Sovereign Fund Scandal http://www.opalesque.com/SWF_Briefing/?p=20285 http://www.opalesque.com/SWF_Briefing/?p=20285#comments Fri, 22 Jul 2016 03:18:41 +0000 VRS http://www.opalesque.com/SWF_Briefing/?p=20285 <br> <a href=http://www.opalesque.com/SWF_Briefing/?p=20285>Article Link</a> The scandal surrounding Malaysia’s sovereign wealth fund 1MDB has roped in three major banks, with Singapore’s investigations alleging failures and weaknesses at DBS Bank (DBSDY), Standard Chartered (SCBFF) and UBS (UBS) . That comes right after the largest-ever forfeiture complaint by the kleptocracy unit of the U.S. Justice Department, which has filed to seize more than $1 billion in assets in the United States. (more…)

]]>
http://www.opalesque.com/SWF_Briefing/?feed=rss2&p=20285
SMRT triple-A credit rating not affected by Temasek’s buyout offer, says S&P http://www.opalesque.com/SWF_Briefing/?p=20284 http://www.opalesque.com/SWF_Briefing/?p=20284#comments Fri, 22 Jul 2016 03:18:15 +0000 VRS http://www.opalesque.com/SWF_Briefing/?p=20284 <br> <a href=http://www.opalesque.com/SWF_Briefing/?p=20284>Article Link</a> S&P Global Ratings said on Thursday (July 21) that its credit rating on SMRT is not affected by the Temasek Holdings buyout offer for the rail and bus operator. (more…)

]]>
http://www.opalesque.com/SWF_Briefing/?feed=rss2&p=20284
3 Things Investors Should Know About Temasek’s Bid For SMRT Corporation Ltd http://www.opalesque.com/SWF_Briefing/?p=20283 http://www.opalesque.com/SWF_Briefing/?p=20283#comments Fri, 22 Jul 2016 03:18:01 +0000 VRS http://www.opalesque.com/SWF_Briefing/?p=20283 <br> <a href=http://www.opalesque.com/SWF_Briefing/?p=20283>Article Link</a> SMRT Corporation Ltd has made two huge announcements in short order. Last Friday, the land transport services provider revealed that it plans to sell its rail operating assets to the Land Transport Authority (LTA) for S$1 billion. The sale, if it happens, would effectively change the company’s business model from asset-heavy to asset-light. It’s a deal that may change SMRT Corporation’s business significantly – you can find out more about the possible changes here. (more…)

]]>
http://www.opalesque.com/SWF_Briefing/?feed=rss2&p=20283
Temasek-backed Godrej Agrovet weighs IPO http://www.opalesque.com/SWF_Briefing/?p=20282 http://www.opalesque.com/SWF_Briefing/?p=20282#comments Fri, 22 Jul 2016 03:17:48 +0000 VRS http://www.opalesque.com/SWF_Briefing/?p=20282 <br> <a href=http://www.opalesque.com/SWF_Briefing/?p=20282>Article Link</a> Adi Godrej is considering an IPO of his group’s animal-feed unit as business thrives in the biggest milk-drinking country in the world. Billionaire Adi Godrej is considering an initial public offering (IPO) of his group’s animal-feed unit, the largest producer in India, as business thrives in the biggest milk-drinking country in the world. (more…)

]]>
http://www.opalesque.com/SWF_Briefing/?feed=rss2&p=20282
Sovereign funds take a liking to Indian IPOs http://www.opalesque.com/SWF_Briefing/?p=20281 http://www.opalesque.com/SWF_Briefing/?p=20281#comments Fri, 22 Jul 2016 03:17:36 +0000 VRS http://www.opalesque.com/SWF_Briefing/?p=20281 <br> <a href=http://www.opalesque.com/SWF_Briefing/?p=20281>Article Link</a> Primary markets are emerging as a new route to raise exposure to Indian equities for sovereign wealth funds (SWFs). Prominent SWFs such as Abu Dhabi Investment Authority (ADIA), Kuwait Investment Authority (KIA), Government Pension Fund Global (GPFG) of Norway and Monetary Authority of Singapore (MAS) invested in about 30% of the initial public offerings (IPOs) in the past 18 months. Narayana Hrudayalaya, InterGlobe Aviation, Parag Milk, VRL Logistics and Alkem Labs were some of the prominent investment targets. (more…)

]]>
http://www.opalesque.com/SWF_Briefing/?feed=rss2&p=20281
Abu Dhabi Investment Authority’s real rate of return stays steady http://www.opalesque.com/SWF_Briefing/?p=20280 http://www.opalesque.com/SWF_Briefing/?p=20280#comments Fri, 22 Jul 2016 03:17:22 +0000 VRS http://www.opalesque.com/SWF_Briefing/?p=20280 <br> <a href=http://www.opalesque.com/SWF_Briefing/?p=20280>Article Link</a> Despite volatile conditions that saw equity markets end 2015 little changed from where they began, the Abu Dhabi Investment Authority, or Adia, recorded a creditable performance from an overall portfolio perspective, the world’s leading sovereign wealth fund said. (more…)

]]>
http://www.opalesque.com/SWF_Briefing/?feed=rss2&p=20280
Trial date for Libya fund suit against SocGen pushed back to April http://www.opalesque.com/SWF_Briefing/?p=20279 http://www.opalesque.com/SWF_Briefing/?p=20279#comments Fri, 22 Jul 2016 03:17:09 +0000 VRS http://www.opalesque.com/SWF_Briefing/?p=20279 <br> <a href=http://www.opalesque.com/SWF_Briefing/?p=20279>Article Link</a> A trial date for a lawsuit brought by Libya’s $67 billion (51 billion pounds) sovereign wealth fund against French investment bank Societe Generale was pushed back to April 25, 2017, by a judge’s ruling in London’s High Court. (more…)

]]>
http://www.opalesque.com/SWF_Briefing/?feed=rss2&p=20279
Mexican Ambassador to Azerbaijan meets SOFAZ Executive Director http://www.opalesque.com/SWF_Briefing/?p=20278 http://www.opalesque.com/SWF_Briefing/?p=20278#comments Fri, 22 Jul 2016 03:16:56 +0000 VRS http://www.opalesque.com/SWF_Briefing/?p=20278 <br> <a href=http://www.opalesque.com/SWF_Briefing/?p=20278>Article Link</a> Ambassador of Mexico to the Republic of Azerbaijan Rodrigo Labardini accompanied by Head of the Competitive Technical Intelligence Unit of the Mexican Institute of Petroleum (IMP) Victor Ortiz has met with Executive Director of the State Oil Fund of Azerbaijan (SOFAZ) Shahmar Movsumov. (more…)

]]>
http://www.opalesque.com/SWF_Briefing/?feed=rss2&p=20278
U.S. Sues To Recover Funds Allegedly Stolen From Malaysian Government Fund http://www.opalesque.com/SWF_Briefing/?p=20277 http://www.opalesque.com/SWF_Briefing/?p=20277#comments Thu, 21 Jul 2016 01:02:59 +0000 VRS http://www.opalesque.com/SWF_Briefing/?p=20277 <br> <a href=http://www.opalesque.com/SWF_Briefing/?p=20277>Article Link</a> The U.S. Department of Justice has filed civil complaints seeking to recover a billion dollars’ worth of art, real estate and other assets bought with money allegedly stolen from a Malaysian sovereign wealth fund. (more…)

]]>
http://www.opalesque.com/SWF_Briefing/?feed=rss2&p=20277
US moves to seize $1bn in Malaysia assets http://www.opalesque.com/SWF_Briefing/?p=20276 http://www.opalesque.com/SWF_Briefing/?p=20276#comments Thu, 21 Jul 2016 01:02:40 +0000 VRS http://www.opalesque.com/SWF_Briefing/?p=20276 <br> <a href=http://www.opalesque.com/SWF_Briefing/?p=20276>Article Link</a> Van Gogh paintings, Beverly Hills properties and the rights to profits from the hit movie The Wolf of Wall Street were among $1bn in assets US prosecutors moved to seize on Wednesday as part of a sprawling anti-money laundering investigation into Malaysia’s sovereign wealth fund. (more…)

]]>
http://www.opalesque.com/SWF_Briefing/?feed=rss2&p=20276
US goes after more than $1B taken from Malaysian fund http://www.opalesque.com/SWF_Briefing/?p=20275 http://www.opalesque.com/SWF_Briefing/?p=20275#comments Thu, 21 Jul 2016 01:02:29 +0000 VRS http://www.opalesque.com/SWF_Briefing/?p=20275 <br> <a href=http://www.opalesque.com/SWF_Briefing/?p=20275>Article Link</a> The United States moved Wednesday to recover more than $1 billion that federal officials say was stolen from a Malaysian economic development fund and that was used for high-end real estate, fancy artwork and production of the Hollywood film, “The Wolf of Wall Street.” (more…)

]]>
http://www.opalesque.com/SWF_Briefing/?feed=rss2&p=20275
Corrupt officials used Malaysia state fund 1MDB as private bank account http://www.opalesque.com/SWF_Briefing/?p=20274 http://www.opalesque.com/SWF_Briefing/?p=20274#comments Thu, 21 Jul 2016 01:02:15 +0000 VRS http://www.opalesque.com/SWF_Briefing/?p=20274 <br> <a href=http://www.opalesque.com/SWF_Briefing/?p=20274>Article Link</a> US Attorney-General Loretta Lynch said on Wednesday (July 20) that a number of corrupt officials had treated Malaysia state fund 1Malaysia Development Berhad (1MDB) as their private bank account. (more…)

]]>
http://www.opalesque.com/SWF_Briefing/?feed=rss2&p=20274
In Properties Targeted in 1MDB Case, a High-End House Tour http://www.opalesque.com/SWF_Briefing/?p=20273 http://www.opalesque.com/SWF_Briefing/?p=20273#comments Thu, 21 Jul 2016 01:02:03 +0000 VRS http://www.opalesque.com/SWF_Briefing/?p=20273 <br> <a href=http://www.opalesque.com/SWF_Briefing/?p=20273>Article Link</a> The properties allegedly bought with funds misappropriated from a Malaysian investment fund would make for a stunning house tour of high-end real estate in New York and Los Angeles. (more…)

]]>
http://www.opalesque.com/SWF_Briefing/?feed=rss2&p=20273
Goldman Sachs under spotlight in Malaysian fund scandal http://www.opalesque.com/SWF_Briefing/?p=20272 http://www.opalesque.com/SWF_Briefing/?p=20272#comments Thu, 21 Jul 2016 01:01:48 +0000 VRS http://www.opalesque.com/SWF_Briefing/?p=20272 <br> <a href=http://www.opalesque.com/SWF_Briefing/?p=20272>Article Link</a> Goldman Sachs’ work with Malaysian sovereign wealth fund 1MDB is under the spotlight over U.S. government allegations that billions of dollars were diverted for the personal use of officials in the southeast Asian country. (more…)

]]>
http://www.opalesque.com/SWF_Briefing/?feed=rss2&p=20272
CIC names new vice chairman http://www.opalesque.com/SWF_Briefing/?p=20271 http://www.opalesque.com/SWF_Briefing/?p=20271#comments Thu, 21 Jul 2016 01:01:33 +0000 VRS http://www.opalesque.com/SWF_Briefing/?p=20271 <br> <a href=http://www.opalesque.com/SWF_Briefing/?p=20271>Article Link</a> China’s sovereign wealth fund (SWF) China Investment Corporation (CIC) has named Tu Guangshao, former general manager and party secretary of the Shanghai Stock Exchange (SSE), as the SWF’s vice chairman and president effective July 19, replacing Li Keping, who is retiring after heading the entity for the past five years. (more…)

]]>
http://www.opalesque.com/SWF_Briefing/?feed=rss2&p=20271
Temasek to buy out public transport operator SMRT for S$1.18b http://www.opalesque.com/SWF_Briefing/?p=20269 http://www.opalesque.com/SWF_Briefing/?p=20269#comments Thu, 21 Jul 2016 01:00:42 +0000 VRS http://www.opalesque.com/SWF_Briefing/?p=20269 <br> <a href=http://www.opalesque.com/SWF_Briefing/?p=20269>Article Link</a> Public transport operator SMRT looks set to be privatised after Temasek Holdings announced a S$1.18 billion buyout offer at S$1.68 a share Wednesday (Jul 20). The offer from the Singapore state investment firm values SMRT at approximately S$2.565 billion, Temasek and SMRT said in a media statement. Once the acquisition is completed, SMRT will become a wholly-owned subsidiary of Temasek and will be delisted from the Singapore Exchange. (more…)

]]>
http://www.opalesque.com/SWF_Briefing/?feed=rss2&p=20269
Temasek Offers S$1.2 Billion to Buy Out SMRT 16 Years After IPO http://www.opalesque.com/SWF_Briefing/?p=20268 http://www.opalesque.com/SWF_Briefing/?p=20268#comments Thu, 21 Jul 2016 01:00:04 +0000 VRS http://www.opalesque.com/SWF_Briefing/?p=20268 <br> <a href=http://www.opalesque.com/SWF_Briefing/?p=20268>Article Link</a> Singapore state investment firm Temasek Holdings Pte offered S$1.2 billion ($880 million) to buy out SMRT Corp., 16 years after the company became the first Asian subway operator outside of Japan to list shares. (more…)

]]>
http://www.opalesque.com/SWF_Briefing/?feed=rss2&p=20268
India Drinks so Much Milk Temasek-Backed Feedmaker Weighs IPO http://www.opalesque.com/SWF_Briefing/?p=20267 http://www.opalesque.com/SWF_Briefing/?p=20267#comments Thu, 21 Jul 2016 00:59:52 +0000 VRS http://www.opalesque.com/SWF_Briefing/?p=20267 <br> <a href=http://www.opalesque.com/SWF_Briefing/?p=20267>Article Link</a> Billionaire Adi Godrej is considering an initial public offering of his group’s animal-feed unit, the largest producer in India, as business thrives in the biggest milk-drinking country in the world. Godrej Agrovet Ltd. may be listed in the future, group Chairman Godrej said in a recent interview in Mumbai, without providing details on the timing or valuations. (more…)

]]>
http://www.opalesque.com/SWF_Briefing/?feed=rss2&p=20267
Abu Dhabi Wealth Fund Says Long-Term Investment Gains Fell http://www.opalesque.com/SWF_Briefing/?p=20266 http://www.opalesque.com/SWF_Briefing/?p=20266#comments Thu, 21 Jul 2016 00:59:16 +0000 VRS http://www.opalesque.com/SWF_Briefing/?p=20266 <br> <a href=http://www.opalesque.com/SWF_Briefing/?p=20266>Article Link</a> The Abu Dhabi Investment Authority, one of the world’s biggest sovereign wealth funds, said its long-term gains dropped in 2015. The fund’s 20-year annual rate of return slowed to 6.5 percent at the end of 2015, from 7.4 percent a year earlier, it said in its annual review. Over three decades, annual returns fell to 7.5 percent from 8.4 percent. (more…)

]]>
http://www.opalesque.com/SWF_Briefing/?feed=rss2&p=20266
Abu Dhabi Investment Authority’s real rate of return stays steady http://www.opalesque.com/SWF_Briefing/?p=20265 http://www.opalesque.com/SWF_Briefing/?p=20265#comments Thu, 21 Jul 2016 00:58:50 +0000 VRS http://www.opalesque.com/SWF_Briefing/?p=20265 <br> <a href=http://www.opalesque.com/SWF_Briefing/?p=20265>Article Link</a> Despite volatile conditions that saw equity markets end 2015 little changed from where they began, the Abu Dhabi Investment Authority, or Adia, recorded a creditable performance from an overall portfolio perspective, the world’s leading sovereign wealth fund said. (more…)

]]>
http://www.opalesque.com/SWF_Briefing/?feed=rss2&p=20265
Abu Dhabi wealth fund goes in house http://www.opalesque.com/SWF_Briefing/?p=20264 http://www.opalesque.com/SWF_Briefing/?p=20264#comments Thu, 21 Jul 2016 00:58:30 +0000 VRS http://www.opalesque.com/SWF_Briefing/?p=20264 <br> <a href=http://www.opalesque.com/SWF_Briefing/?p=20264>Article Link</a> Abu Dhabi’s main sovereign wealth fund has brought more of its portfolio buying activity in house as it seeks greater value amid slower growth across increasingly volatile global markets. (more…)

]]>
http://www.opalesque.com/SWF_Briefing/?feed=rss2&p=20264
Adia renews faith in China and India’s growth prospects amid market tumult http://www.opalesque.com/SWF_Briefing/?p=20263 http://www.opalesque.com/SWF_Briefing/?p=20263#comments Thu, 21 Jul 2016 00:58:18 +0000 VRS http://www.opalesque.com/SWF_Briefing/?p=20263 <br> <a href=http://www.opalesque.com/SWF_Briefing/?p=20263>Article Link</a> The Abu Dhabi Investment Authority (Adia) remains focused on China’s and India’s long-term growth prospects, even after emerging markets were hit last year by a slowing global economy. The emirate’s main sovereign wealth fund said in its annual review, released on Wednesday, that long-term returns declined last year amid volatility in markets, although it said the lower rates were mainly caused by statistical averaging over the long periods it uses to measure returns. (more…)

]]>
http://www.opalesque.com/SWF_Briefing/?feed=rss2&p=20263
Norway’s sovereign wealth fund has made a killing from Pokémon Go http://www.opalesque.com/SWF_Briefing/?p=20262 http://www.opalesque.com/SWF_Briefing/?p=20262#comments Thu, 21 Jul 2016 00:58:04 +0000 VRS http://www.opalesque.com/SWF_Briefing/?p=20262 <br> <a href=http://www.opalesque.com/SWF_Briefing/?p=20262>Article Link</a> Norwegian’s should be happy about the arrival of Pokémon Go - not only because they seem to be the most active players of the game in the Nordics. The Norwegian sovereign wealth fund, the largest of its kind in the world, has made big bucks from the Pokémon Go hype. (more…)

]]>
http://www.opalesque.com/SWF_Briefing/?feed=rss2&p=20262
Irish sovereign fund to take on construction risk amid housing push http://www.opalesque.com/SWF_Briefing/?p=20260 http://www.opalesque.com/SWF_Briefing/?p=20260#comments Wed, 20 Jul 2016 03:03:55 +0000 VRS http://www.opalesque.com/SWF_Briefing/?p=20260 <br> <a href=http://www.opalesque.com/SWF_Briefing/?p=20260>Article Link</a> Ireland’s €7.9bn sovereign wealth fund will be asked to step in and take on construction risk as the country’s government attempts to ramp up the size of its house-building programme. (more…)

]]>
http://www.opalesque.com/SWF_Briefing/?feed=rss2&p=20260
Aberdeen’s unfrozen property fund sells London asset to Norges Bank http://www.opalesque.com/SWF_Briefing/?p=20259 http://www.opalesque.com/SWF_Briefing/?p=20259#comments Wed, 20 Jul 2016 03:03:42 +0000 VRS http://www.opalesque.com/SWF_Briefing/?p=20259 <br> <a href=http://www.opalesque.com/SWF_Briefing/?p=20259>Article Link</a> Norway’s sovereign wealth fund has acquired a prime London asset, capitalising on liquidity pressures facing open-ended property funds in the UK. Aberdeen Asset Management has sold a 59,000sqft retail and office building on Oxford Street from a fund that was recently closed to redemptions. (more…)

]]>
http://www.opalesque.com/SWF_Briefing/?feed=rss2&p=20259
Azeri banks buy $50M from State Oil Fund at auction http://www.opalesque.com/SWF_Briefing/?p=20258 http://www.opalesque.com/SWF_Briefing/?p=20258#comments Wed, 20 Jul 2016 03:03:24 +0000 VRS http://www.opalesque.com/SWF_Briefing/?p=20258 <br> <a href=http://www.opalesque.com/SWF_Briefing/?p=20258>Article Link</a> The State Oil Fund of Azerbaijan (SOFAZ) sold $50 million to 29 banks through an auction held by the Central Bank of Azerbaijan (CBA), SOFAZ said July 19. As of July 1, 2016, SOFAZ’s assets increased by 4.6 percent and amounted to $35.1 billion as compared to $33.57 billion in early 2016. (more…)

]]>
http://www.opalesque.com/SWF_Briefing/?feed=rss2&p=20258
Temasek may take SMRT private: Sources http://www.opalesque.com/SWF_Briefing/?p=20257 http://www.opalesque.com/SWF_Briefing/?p=20257#comments Wed, 20 Jul 2016 03:03:13 +0000 VRS http://www.opalesque.com/SWF_Briefing/?p=20257 <br> <a href=http://www.opalesque.com/SWF_Briefing/?p=20257>Article Link</a> Three days after SMRT Corp unveiled the long-awaited details of a new rail plan that will turn it into an asset-light operator, its majority owner Temasek Holdings is doing the math for a possible takeover of the transport firm. (more…)

]]>
http://www.opalesque.com/SWF_Briefing/?feed=rss2&p=20257
Investors Go Bargain-Hunting for U.K. Property After Brexit Vote http://www.opalesque.com/SWF_Briefing/?p=20256 http://www.opalesque.com/SWF_Briefing/?p=20256#comments Wed, 20 Jul 2016 03:03:00 +0000 VRS http://www.opalesque.com/SWF_Briefing/?p=20256 <br> <a href=http://www.opalesque.com/SWF_Briefing/?p=20256>Article Link</a> Global investors are on the hunt for U.K. property bargains, expecting that Brexit-fueled economic turmoil could weaken real-estate values. The drop in the value of sterling has only increased the appeal. (more…)

]]>
http://www.opalesque.com/SWF_Briefing/?feed=rss2&p=20256
Khazanah in Talks to Buy Stakes in Malaysian Insurers for $800 Million http://www.opalesque.com/SWF_Briefing/?p=20255 http://www.opalesque.com/SWF_Briefing/?p=20255#comments Wed, 20 Jul 2016 03:02:47 +0000 VRS http://www.opalesque.com/SWF_Briefing/?p=20255 <br> <a href=http://www.opalesque.com/SWF_Briefing/?p=20255>Article Link</a> Canada’s Sun Life Financial Inc. and Malaysian sovereign-wealth fund Khazanah Nasional Bhd. are in discussions to buy majority stakes in two Malaysian life insurers in a deal worth around 3.2 billion ringgit ($800 million), people with knowledge of the deal said. (more…)

]]>
http://www.opalesque.com/SWF_Briefing/?feed=rss2&p=20255
SocGen seeks to push back trial date in Libya fund case http://www.opalesque.com/SWF_Briefing/?p=20254 http://www.opalesque.com/SWF_Briefing/?p=20254#comments Wed, 20 Jul 2016 03:02:26 +0000 VRS http://www.opalesque.com/SWF_Briefing/?p=20254 <br> <a href=http://www.opalesque.com/SWF_Briefing/?p=20254>Article Link</a> French investment bank Societe Generale on Monday asked for an adjournment to push back the date of a trial in a long-running dispute with Libya’s US$67 billion sovereign wealth fund over a series of trades entered into between 2007 and 2009. (more…)

]]>
http://www.opalesque.com/SWF_Briefing/?feed=rss2&p=20254
Big funds push back against activist investor settlements http://www.opalesque.com/SWF_Briefing/?p=20253 http://www.opalesque.com/SWF_Briefing/?p=20253#comments Tue, 19 Jul 2016 03:39:19 +0000 VRS http://www.opalesque.com/SWF_Briefing/?p=20253 <br> <a href=http://www.opalesque.com/SWF_Briefing/?p=20253>Article Link</a> After years of support for companies that hand board seats to activists to avoid a bruising public fight, some of the world’s largest institutional investors are pushing back. (more…)

]]>
http://www.opalesque.com/SWF_Briefing/?feed=rss2&p=20253
World’s Biggest Wealth Fund Gets New Stab at Infrastructure Bid http://www.opalesque.com/SWF_Briefing/?p=20252 http://www.opalesque.com/SWF_Briefing/?p=20252#comments Tue, 19 Jul 2016 03:39:05 +0000 VRS http://www.opalesque.com/SWF_Briefing/?p=20252 <br> <a href=http://www.opalesque.com/SWF_Briefing/?p=20252>Article Link</a> Norway is reconsidering whether to let its $870 billion sovereign wealth fund invest in unlisted infrastructure after parliament requested a more detailed study into the move. The government, which three months ago rejected the fund’s bid to make such investments, will consider expanding its mandate in a white paper in the first half of next year, according to a letter to Norges Bank from the Finance Ministry obtained by Bloomberg. (more…)

]]>
http://www.opalesque.com/SWF_Briefing/?feed=rss2&p=20252
Russia’s Reserve Fund, National Wealth Fund will not be depleted http://www.opalesque.com/SWF_Briefing/?p=20251 http://www.opalesque.com/SWF_Briefing/?p=20251#comments Tue, 19 Jul 2016 03:38:52 +0000 VRS http://www.opalesque.com/SWF_Briefing/?p=20251 <br> <a href=http://www.opalesque.com/SWF_Briefing/?p=20251>Article Link</a> The Reserve Fund and the National Wealth Fund will not be completely depleted, Russian Deputy Minister of Finance Alexeн Moiseev said in an interview with Rossiyskaya Gazeta newspaper to be published on Tuesday. (more…)

]]>
http://www.opalesque.com/SWF_Briefing/?feed=rss2&p=20251
Azeri state oil fund’s assets up 4.6 pct in H1 to $35.1 bln by July 1 http://www.opalesque.com/SWF_Briefing/?p=20250 http://www.opalesque.com/SWF_Briefing/?p=20250#comments Tue, 19 Jul 2016 03:38:39 +0000 VRS http://www.opalesque.com/SWF_Briefing/?p=20250 <br> <a href=http://www.opalesque.com/SWF_Briefing/?p=20250>Article Link</a> The assets of Azeri state oil fund SOFAZ grew by 4.6 percent to $35.1 billion in the first six months of this year, the fund said on Monday. SOFAZ holds proceeds from oil contracts, oil and gas sales, transit fees and other revenue. It uses income from investments to pay for social spending and infrastructure projects. (more…)

]]>
http://www.opalesque.com/SWF_Briefing/?feed=rss2&p=20250
SOFAZ’s revenues hit 4B manats in Q2 2016 http://www.opalesque.com/SWF_Briefing/?p=20249 http://www.opalesque.com/SWF_Briefing/?p=20249#comments Tue, 19 Jul 2016 03:38:24 +0000 VRS http://www.opalesque.com/SWF_Briefing/?p=20249 <br> <a href=http://www.opalesque.com/SWF_Briefing/?p=20249>Article Link</a> Budget revenues of the State Oil Fund of the Republic of Azerbaijan (SOFAZ) for the period of January-June, 2016 reached 3,991.0 million manat, while budget expenditures constituted 2,256.7 million manat, said a statement from SOFAZ July 18. (more…)

]]>
http://www.opalesque.com/SWF_Briefing/?feed=rss2&p=20249
Ireland can conjure a pot of sovereign wealth gold http://www.opalesque.com/SWF_Briefing/?p=20248 http://www.opalesque.com/SWF_Briefing/?p=20248#comments Tue, 19 Jul 2016 03:38:10 +0000 VRS http://www.opalesque.com/SWF_Briefing/?p=20248 <br> <a href=http://www.opalesque.com/SWF_Briefing/?p=20248>Article Link</a> By taking shares in multinationals, Ireland could create a sovereign wealth fund linked to the performance of the best-governed companies in the world, which would provide for future generations. In 2012, US multinationals made $100bn profit in Ireland, on which they are supposed to pay 12.5 per cent tax, or $12.5bn. In fact, they paid $4bn. (more…)

]]>
http://www.opalesque.com/SWF_Briefing/?feed=rss2&p=20248
SocGen seeks to push back trial date in Libya fund case http://www.opalesque.com/SWF_Briefing/?p=20247 http://www.opalesque.com/SWF_Briefing/?p=20247#comments Tue, 19 Jul 2016 03:37:49 +0000 VRS http://www.opalesque.com/SWF_Briefing/?p=20247 <br> <a href=http://www.opalesque.com/SWF_Briefing/?p=20247>Article Link</a> French investment bank Societe Generale on Monday asked for an adjournment to push back the date of a trial in a long-running dispute with Libya’s $67 billion sovereign wealth fund over a series of trades entered into between 2007 and 2009. (more…)

]]>
http://www.opalesque.com/SWF_Briefing/?feed=rss2&p=20247
SocGen used the codewords ‘Pizza,’ ‘Zorro,’ and ‘the Men in Black’ to hide corruption, Libyan fund alleges http://www.opalesque.com/SWF_Briefing/?p=20246 http://www.opalesque.com/SWF_Briefing/?p=20246#comments Tue, 19 Jul 2016 03:37:37 +0000 VRS http://www.opalesque.com/SWF_Briefing/?p=20246 <br> <a href=http://www.opalesque.com/SWF_Briefing/?p=20246>Article Link</a> Libya’s sovereign wealth fund is seeking information on alleged “codewords” used by Societe Generale staff to mask bribery and corruption, in a $2 billion (£1.5 billion) lawsuit. (more…)

]]>
http://www.opalesque.com/SWF_Briefing/?feed=rss2&p=20246
SocGen seeks to push back trial date in Libya fund case http://www.opalesque.com/SWF_Briefing/?p=20245 http://www.opalesque.com/SWF_Briefing/?p=20245#comments Tue, 19 Jul 2016 03:37:27 +0000 VRS http://www.opalesque.com/SWF_Briefing/?p=20245 <br> <a href=http://www.opalesque.com/SWF_Briefing/?p=20245>Article Link</a> French investment bank Societe Generale on Monday asked for an adjournment to push back the date of a trial in a long-running dispute with Libya’s US$67 billion sovereign wealth fund over a series of trades entered into between 2007 and 2009. (more…)

]]>
http://www.opalesque.com/SWF_Briefing/?feed=rss2&p=20245
Ipic-Mubadala merger does not have to follow a template http://www.opalesque.com/SWF_Briefing/?p=20244 http://www.opalesque.com/SWF_Briefing/?p=20244#comments Tue, 19 Jul 2016 03:37:17 +0000 VRS http://www.opalesque.com/SWF_Briefing/?p=20244 <br> <a href=http://www.opalesque.com/SWF_Briefing/?p=20244>Article Link</a> Ipic and Mubadala, two major Abu Dhabi investment funds, have been mandated to merge. The outcome does not have to be a single company. In this article I will look at an innovative option for the Ipic-Mubadala merger to result in more than one company and how such a multi-result merger can support Abu Dhabi’s Economic Vision 2030. (more…)

]]>
http://www.opalesque.com/SWF_Briefing/?feed=rss2&p=20244
Singapore ‘in pursuit of 1MDB links’ http://www.opalesque.com/SWF_Briefing/?p=20243 http://www.opalesque.com/SWF_Briefing/?p=20243#comments Tue, 19 Jul 2016 03:37:05 +0000 VRS http://www.opalesque.com/SWF_Briefing/?p=20243 <br> <a href=http://www.opalesque.com/SWF_Briefing/?p=20243>Article Link</a> Singapore’s central bank was scrutinising several banks, including UBS and DBS Group Holdings, to see if they broke rules against money laundering in handling transactions linked to scandal-hit Malaysian state fund 1MDB, three people with knowledge of the matter said. (more…)

]]>
http://www.opalesque.com/SWF_Briefing/?feed=rss2&p=20243
Temasek set to unveil buyout deal for struggling S’pore rail operator http://www.opalesque.com/SWF_Briefing/?p=20242 http://www.opalesque.com/SWF_Briefing/?p=20242#comments Tue, 19 Jul 2016 03:36:52 +0000 VRS http://www.opalesque.com/SWF_Briefing/?p=20242 <br> <a href=http://www.opalesque.com/SWF_Briefing/?p=20242>Article Link</a> Singapore state investor Temasek Holdings is set to announce a deal this week to buy out the remaining nearly 46 percent of SMRT Corp that it doesn’t already own, two sources with knowledge of the matter said. (more…)

]]>
http://www.opalesque.com/SWF_Briefing/?feed=rss2&p=20242
Temasek Holdings set for deal to buy out SMRT: Sources http://www.opalesque.com/SWF_Briefing/?p=20241 http://www.opalesque.com/SWF_Briefing/?p=20241#comments Tue, 19 Jul 2016 03:36:40 +0000 VRS http://www.opalesque.com/SWF_Briefing/?p=20241 <br> <a href=http://www.opalesque.com/SWF_Briefing/?p=20241>Article Link</a> Singapore state investor Temasek Holdings is set to announce a deal this week to buy out the remaining nearly 46 per cent of SMRT Corp that it doesn’t already own, two sources with knowledge of the matter said. (more…)

]]>
http://www.opalesque.com/SWF_Briefing/?feed=rss2&p=20241
Buyout of SMRT by Temasek will make it a pseudo Government agency http://www.opalesque.com/SWF_Briefing/?p=20240 http://www.opalesque.com/SWF_Briefing/?p=20240#comments Tue, 19 Jul 2016 03:36:28 +0000 VRS http://www.opalesque.com/SWF_Briefing/?p=20240 <br> <a href=http://www.opalesque.com/SWF_Briefing/?p=20240>Article Link</a> SMRT Corp announced a continuation of its trading halt today (18 Jul) pending a possible announcement. SMRT first announced a trading halt on Jul 15, where it was announced that its operating assets will come under the new rail financing framework from Oct 1. (more…)

]]>
http://www.opalesque.com/SWF_Briefing/?feed=rss2&p=20240
Khazanah eyeing RM3.2b control of Hong Leong Financial Group http://www.opalesque.com/SWF_Briefing/?p=20239 http://www.opalesque.com/SWF_Briefing/?p=20239#comments Tue, 19 Jul 2016 03:36:08 +0000 VRS http://www.opalesque.com/SWF_Briefing/?p=20239 <br> <a href=http://www.opalesque.com/SWF_Briefing/?p=20239>Article Link</a> Khazanah Nasional Bhd, the sovereign wealth fund, is reportedly considering a RM3.2 billion bid for control of billionaire Quek Leng Chan’s Hong Leong Financial Group, according to Bloomberg News. Quek, chairman of Hong Leong Financial, is Malaysia’s fifth richest person with a net worth of USD4.3 billion, according to the Bloomberg Billionaires Index. (more…)

]]>
http://www.opalesque.com/SWF_Briefing/?feed=rss2&p=20239
Saudi Push for Tech Deals Stirs Silicon Valley Debate http://www.opalesque.com/SWF_Briefing/?p=20238 http://www.opalesque.com/SWF_Briefing/?p=20238#comments Mon, 18 Jul 2016 02:58:24 +0000 VRS http://www.opalesque.com/SWF_Briefing/?p=20238 <br> <a href=http://www.opalesque.com/SWF_Briefing/?p=20238>Article Link</a> As Saudi Arabia and its oil-rich sovereign-wealth fund prepare to become bigger players in tech deal making, Silicon Valley insiders are weighing the consequences. Technology investors like to tout the social benefits of the companies they support. But the industry often overlooks investors’ own principles and beliefs, focusing more on their investment record and size of their checks. (more…)

]]>
http://www.opalesque.com/SWF_Briefing/?feed=rss2&p=20238
Qatar bonds are likely to remain popular with investors http://www.opalesque.com/SWF_Briefing/?p=20237 http://www.opalesque.com/SWF_Briefing/?p=20237#comments Mon, 18 Jul 2016 02:58:10 +0000 VRS http://www.opalesque.com/SWF_Briefing/?p=20237 <br> <a href=http://www.opalesque.com/SWF_Briefing/?p=20237>Article Link</a> Qatar’s bonds are “likely to remain popular with investors” although sovereign creditworthiness in the Mena economies will broadly deteriorate over the coming quarters given rising interest rates, tightening liquidity and a slowdown in growth, a new report has shown. (more…)

]]>
http://www.opalesque.com/SWF_Briefing/?feed=rss2&p=20237
Qatar Investment Authority’s purchase of Asia Square Tower One http://www.opalesque.com/SWF_Briefing/?p=20236 http://www.opalesque.com/SWF_Briefing/?p=20236#comments Mon, 18 Jul 2016 02:57:58 +0000 VRS http://www.opalesque.com/SWF_Briefing/?p=20236 <br> <a href=http://www.opalesque.com/SWF_Briefing/?p=20236>Article Link</a> The recent acquisition of the 43-storey Asia Square Tower One by Qatar Investment Authority, a sovereign wealth fund, has provided the flagging Singapore real estate market with a much-needed shot in the arm. (more…)

]]>
http://www.opalesque.com/SWF_Briefing/?feed=rss2&p=20236
Kuwait maintains its investment perspective http://www.opalesque.com/SWF_Briefing/?p=20235 http://www.opalesque.com/SWF_Briefing/?p=20235#comments Mon, 18 Jul 2016 02:57:43 +0000 VRS http://www.opalesque.com/SWF_Briefing/?p=20235 <br> <a href=http://www.opalesque.com/SWF_Briefing/?p=20235>Article Link</a> Mixed sentiments keep emerging about the commercial and business sector in Kuwait. On a positive note, the much-awaited expansion of the airport is underway. Conversely, in an unprecedented move, a key rating agency assigned a negative outlook for the economy due to the phenomenon of low oil prices for two years now. (more…)

]]>
http://www.opalesque.com/SWF_Briefing/?feed=rss2&p=20235
Trades with Goldman too complex for Libya’s SWF http://www.opalesque.com/SWF_Briefing/?p=20234 http://www.opalesque.com/SWF_Briefing/?p=20234#comments Mon, 18 Jul 2016 02:57:31 +0000 VRS http://www.opalesque.com/SWF_Briefing/?p=20234 <br> <a href=http://www.opalesque.com/SWF_Briefing/?p=20234>Article Link</a> Nine disputed trades that Libya’s sovereign wealth fund (SWF) entered into with Goldman Sachs were unsuitable by “dint of risk and complexity”, according to an expert witness at a trial in London’s High Court. (more…)

]]>
http://www.opalesque.com/SWF_Briefing/?feed=rss2&p=20234
UK Government must create a sovereign wealth fund to save North Sea industry http://www.opalesque.com/SWF_Briefing/?p=20233 http://www.opalesque.com/SWF_Briefing/?p=20233#comments Mon, 18 Jul 2016 02:57:15 +0000 VRS http://www.opalesque.com/SWF_Briefing/?p=20233 <br> <a href=http://www.opalesque.com/SWF_Briefing/?p=20233>Article Link</a> Oil tycoon Algy Cluff is calling on the Government to create a sovereign wealth fund to save the North Sea industry and invest in a gas supply for the country after Brexit. Cluff, who founded and runs Cluff Natural Resources, wants the Government to take charge and invest in the face of the weakened oil price. (more…)

]]>
http://www.opalesque.com/SWF_Briefing/?feed=rss2&p=20233
Azerbaijan’s SOFAZ makes almost $120B from largest oil project http://www.opalesque.com/SWF_Briefing/?p=20232 http://www.opalesque.com/SWF_Briefing/?p=20232#comments Mon, 18 Jul 2016 02:57:04 +0000 VRS http://www.opalesque.com/SWF_Briefing/?p=20232 <br> <a href=http://www.opalesque.com/SWF_Briefing/?p=20232>Article Link</a> Revenues of the State Oil Fund of Azerbaijan (SOFAZ) from the project for development of the Azeri-Chirag-Gunashli (ACG) block of fields totaled $119.314 billion from early 2001 to July 1, 2016, SOFAZ told Trend. (more…)

]]>
http://www.opalesque.com/SWF_Briefing/?feed=rss2&p=20232