Opalesque Sovereign Wealth Funds Briefing » Fund Management/Administration http://www.opalesque.com/SWF_Briefing Fri, 27 Mar 2015 01:50:43 +0000 http://wordpress.org/?v=2.5.1 en NZ Superfund CIO Whineray on Change and Risk http://www.opalesque.com/SWF_Briefing/?p=17153 http://www.opalesque.com/SWF_Briefing/?p=17153#comments Wed, 25 Mar 2015 03:31:19 +0000 VRS http://www.opalesque.com/SWF_Briefing/?p=17153 <br> <a href=http://www.opalesque.com/SWF_Briefing/?p=17153>Article Link</a> New Zealand Superannuation Fund(NZ Super) was founded in 2001 as a means to help smooth the tax burden associated with rising universal pension costs among the island nation’s generations. Later, it helped pioneer an innovative portfolio management policy to “tilt” toward better prospects within its allocation strategy. With $21.5 billion in assets under management, the fund is viewed as an exemplar of governance and investment acumen among sovereign wealth funds. (more…)

]]>
http://www.opalesque.com/SWF_Briefing/?feed=rss2&p=17153
Sack MAS, Khazanah bosses instead of staff, unions say http://www.opalesque.com/SWF_Briefing/?p=17152 http://www.opalesque.com/SWF_Briefing/?p=17152#comments Wed, 25 Mar 2015 03:31:06 +0000 VRS http://www.opalesque.com/SWF_Briefing/?p=17152 <br> <a href=http://www.opalesque.com/SWF_Briefing/?p=17152>Article Link</a> Six worker unions demanded that top officials of Malaysia Airlines (MAS) and owner Khazanah Nasional be removed in place of the 6,000 workers that will be made redundant in the flag carrier’s restructuring. (more…)

]]>
http://www.opalesque.com/SWF_Briefing/?feed=rss2&p=17152
Future Fund Names Infrastructure Chief http://www.opalesque.com/SWF_Briefing/?p=17134 http://www.opalesque.com/SWF_Briefing/?p=17134#comments Mon, 23 Mar 2015 02:40:49 +0000 VRS http://www.opalesque.com/SWF_Briefing/?p=17134 <br> <a href=http://www.opalesque.com/SWF_Briefing/?p=17134>Article Link</a> Australia’s sovereign wealth fund has promoted an internal candidate to lead its growing infrastructure and timberland portfolio. Wendy Norris, who joined the Future Fund in 2010, has replaced Raphael Arndt at the helm of the $8 billion portfolio, the institution has announced. Arndt was promoted to CIO in September last year. (more…)

]]>
http://www.opalesque.com/SWF_Briefing/?feed=rss2&p=17134
LIA Board of directors convene first 2015 meeting regarding Libyan investments around the world http://www.opalesque.com/SWF_Briefing/?p=17132 http://www.opalesque.com/SWF_Briefing/?p=17132#comments Fri, 20 Mar 2015 01:46:51 +0000 VRS http://www.opalesque.com/SWF_Briefing/?p=17132 <br> <a href=http://www.opalesque.com/SWF_Briefing/?p=17132>Article Link</a> The Board of Directors of the Libyan Investment Authority (LIA) convened their first 2015 meeting in Malta early this week to discuss Libyan investments around the world. The Libyan Investment Authority was established in August 2006 after the Libyan government decided to consolidate six extra-budgetary funds financed by its oil revenues under one sovereign wealth fund. The value of the investment fund is estimated by the LIA at US$ 67 billion. (more…)

]]>
http://www.opalesque.com/SWF_Briefing/?feed=rss2&p=17132
NZ Super underlines long-term views amid criticism http://www.opalesque.com/SWF_Briefing/?p=17130 http://www.opalesque.com/SWF_Briefing/?p=17130#comments Fri, 20 Mar 2015 01:46:26 +0000 VRS http://www.opalesque.com/SWF_Briefing/?p=17130 <br> <a href=http://www.opalesque.com/SWF_Briefing/?p=17130>Article Link</a> The chief executive of the New Zealand Superannuation Fund, Adrian Orr, has reiterated his ‘unshakeable belief’ in taking a long-term view for investment. It comes after - although not in response to - media criticism of losses the fund suffered in a loan investment to a Portuguese bank. (more…)

]]>
http://www.opalesque.com/SWF_Briefing/?feed=rss2&p=17130
Ghana to use part of $600m sovereign wealth fund to manage shortfall in crude revenue http://www.opalesque.com/SWF_Briefing/?p=17128 http://www.opalesque.com/SWF_Briefing/?p=17128#comments Thu, 19 Mar 2015 02:40:11 +0000 VRS http://www.opalesque.com/SWF_Briefing/?p=17128 <br> <a href=http://www.opalesque.com/SWF_Briefing/?p=17128>Article Link</a> The Minister of Finance, Seth Terkper says the country would use part of its sovereign wealth fund, which has accumulated $600 million to manage current economic challenges brought about by the shortfall in projected oil revenue. Speaking at the opening of the Financing the Future Conference in Accra, Ghana, March 17, 2015, he said the stabilisation fund has accumulated $600 million so far. (more…)

]]>
http://www.opalesque.com/SWF_Briefing/?feed=rss2&p=17128
An alternative home for super http://www.opalesque.com/SWF_Briefing/?p=17125 http://www.opalesque.com/SWF_Briefing/?p=17125#comments Thu, 19 Mar 2015 02:39:28 +0000 VRS http://www.opalesque.com/SWF_Briefing/?p=17125 <br> <a href=http://www.opalesque.com/SWF_Briefing/?p=17125>Article Link</a> Saving for retirement is all about saving for the long term, so it is continually surprising to see the extent to which individual investors and advisers favour short-term, highly liquid assets in their portfolios. Large allocations to equities and cash are typical of self-managed funds and much higher than across the managed funds industry in general. (more…)

]]>
http://www.opalesque.com/SWF_Briefing/?feed=rss2&p=17125
Everyone in Norway is a millionaire… on paper at least http://www.opalesque.com/SWF_Briefing/?p=17093 http://www.opalesque.com/SWF_Briefing/?p=17093#comments Mon, 16 Mar 2015 03:36:46 +0000 VRS http://www.opalesque.com/SWF_Briefing/?p=17093 <br> <a href=http://www.opalesque.com/SWF_Briefing/?p=17093>Article Link</a> If you are dreaming of becoming a millionaire, getting the Norwegian nationality might be a good step. The Norwegian public pension fund, the largest sovereign fund in the world, posted last year a 7.6% yield, almost doubling its value in three years, announced Friday the Bank of Norway, which manages the fund. (more…)

]]>
http://www.opalesque.com/SWF_Briefing/?feed=rss2&p=17093
Twin ghosts haunt Malaysia’s sovereign fund http://www.opalesque.com/SWF_Briefing/?p=17089 http://www.opalesque.com/SWF_Briefing/?p=17089#comments Fri, 13 Mar 2015 03:44:05 +0000 VRS http://www.opalesque.com/SWF_Briefing/?p=17089 <br> <a href=http://www.opalesque.com/SWF_Briefing/?p=17089>Article Link</a> Malaysia’s 1MDB faces a daunting task. The six year-old sovereign fund was set up to finance big national projects but expanded too fast, took on heavy debts and is now at the centre of a growing controversy. An ambitious restructuring brings both political and financial risks. The fund which counts Prime Minister Najib Razak as chairman of its board of advisors has pledged to dismantle itself following a strategic review led by new chief executive Arul Kanda. (more…)

]]>
http://www.opalesque.com/SWF_Briefing/?feed=rss2&p=17089
We do not pay foreigners for nothing: Samruk Kazyna CEO http://www.opalesque.com/SWF_Briefing/?p=17071 http://www.opalesque.com/SWF_Briefing/?p=17071#comments Wed, 11 Mar 2015 01:14:59 +0000 VRS http://www.opalesque.com/SWF_Briefing/?p=17071 <br> <a href=http://www.opalesque.com/SWF_Briefing/?p=17071>Article Link</a> The Chief Executive Officer of Samruk Kazyna National Welfare Fund Umirzak Shukeyev has spoken about the wages of the foreigners employed at the Fund, Tengrinews reports. Samruk-Kazyna National Wealth Fund is a sovereign wealth fund and joint stock company in Kazakhstan which owns, either in whole or in part, many important companies in the country, including the national rail and postal service, the state oil and gas company KazMunayGas, the state uranium company Kazatomprom, Air Astana airlines, and numerous financial groups. (more…)

]]>
http://www.opalesque.com/SWF_Briefing/?feed=rss2&p=17071
Kadir backs calls for forensic audit of 1MDB http://www.opalesque.com/SWF_Briefing/?p=17061 http://www.opalesque.com/SWF_Briefing/?p=17061#comments Mon, 09 Mar 2015 03:47:59 +0000 VRS http://www.opalesque.com/SWF_Briefing/?p=17061 <br> <a href=http://www.opalesque.com/SWF_Briefing/?p=17061>Article Link</a> Former NSTP chief editor A Kadir Jasin has backed deputy prime minister Muhyiddin Yassin’s call for the Public Accounts Committee to investigate the financial affairs of the troubled 1Malaysia Development Bhd, saying a true forensic audit would reveal the true story behind the figures. (more…)

]]>
http://www.opalesque.com/SWF_Briefing/?feed=rss2&p=17061
Exec reveals how Brookfield, Qatar conquered Canary Wharf http://www.opalesque.com/SWF_Briefing/?p=17044 http://www.opalesque.com/SWF_Briefing/?p=17044#comments Thu, 05 Mar 2015 01:13:29 +0000 VRS http://www.opalesque.com/SWF_Briefing/?p=17044 <br> <a href=http://www.opalesque.com/SWF_Briefing/?p=17044>Article Link</a> Brookfield Property Partners’ chief executive has lifted the lid on the three-month long battle for Canary Wharf, which culminated in the largest UK property deal for a decade. Canada’s Brookfield and the Qatar Investment Authority (QIA), the state’s sovereign wealth fund, first launched their £2.6bn bid for Songbird, the estate’s owner, in November. (more…)

]]>
http://www.opalesque.com/SWF_Briefing/?feed=rss2&p=17044
Polye Queries LNG Revenue Commitments Outside Of Sovereign Wealth Fund http://www.opalesque.com/SWF_Briefing/?p=17041 http://www.opalesque.com/SWF_Briefing/?p=17041#comments Thu, 05 Mar 2015 01:12:45 +0000 VRS http://www.opalesque.com/SWF_Briefing/?p=17041 <br> <a href=http://www.opalesque.com/SWF_Briefing/?p=17041>Article Link</a> Opposition Leader Don Polye is concerned about the government’s prior usage of the LNG revenues without the establishment of Sovereign Wealth Fund. “When the work on the set-up of SWF was still in progress, advance payments were made to purchase oil search shares and CUE Energy purchase. (more…)

]]>
http://www.opalesque.com/SWF_Briefing/?feed=rss2&p=17041
UK Pensions Told to Copy Canada, SWFs http://www.opalesque.com/SWF_Briefing/?p=17033 http://www.opalesque.com/SWF_Briefing/?p=17033#comments Wed, 04 Mar 2015 01:04:11 +0000 VRS http://www.opalesque.com/SWF_Briefing/?p=17033 <br> <a href=http://www.opalesque.com/SWF_Briefing/?p=17033>Article Link</a> UK pensions should be able to compete on the international stage, and can draw inspiration from major overseas investors, London’s pensions body believes. The UK’s public sector pensions should be competing for infrastructure assets alongside sovereign wealth funds and other major international investors, the deputy chairman of the London Pension Fund Authority (LPFA) has said. (more…)

]]>
http://www.opalesque.com/SWF_Briefing/?feed=rss2&p=17033
Oil Price Slump: NSIA Rules Out Withdrawal from SWF http://www.opalesque.com/SWF_Briefing/?p=17031 http://www.opalesque.com/SWF_Briefing/?p=17031#comments Wed, 04 Mar 2015 01:03:39 +0000 VRS http://www.opalesque.com/SWF_Briefing/?p=17031 <br> <a href=http://www.opalesque.com/SWF_Briefing/?p=17031>Article Link</a> The federal government is unlikely to make withdrawals from Nigeria’s Sovereign Wealth Fund (SWF), even as the price of crude oil declines. The Nigeria Sovereign Investment Authority (NSIA), set up in 2012, isn’t yet large enough to make withdrawals worthwhile, the organisation’s Managing Director/Chief Executive, Mr. Uche Orji, said in an interview with Bloomberg Television at the Global Financial Markets Forum in Abu Dhabi. Withdrawals will be an option in future years once the fund is larger, Orji said. (more…)

]]>
http://www.opalesque.com/SWF_Briefing/?feed=rss2&p=17031
Transparency International joins calls for probe of Malaysia fund 1MDB http://www.opalesque.com/SWF_Briefing/?p=17028 http://www.opalesque.com/SWF_Briefing/?p=17028#comments Wed, 04 Mar 2015 01:02:45 +0000 VRS http://www.opalesque.com/SWF_Briefing/?p=17028 <br> <a href=http://www.opalesque.com/SWF_Briefing/?p=17028>Article Link</a> Anti-graft watchdog Transparency International on Tuesday (Mar 3) joined mounting calls for Malaysia’s prime minister to launch an investigation into a sovereign wealth fund hit by reports of murky deals and missing millions. The state-backed fund, 1Malaysia Development Bhd (1MDB), has quickly emerged as a major liability for premier Najib Razak, who championed its launch in 2009 and chairs its board of advisors. 1MDB is widely reported to be struggling to pay off more than US$11 billion in debt, raising fears it could collapse and wreak havoc on Malaysia’s financial system. (more…)

]]>
http://www.opalesque.com/SWF_Briefing/?feed=rss2&p=17028
Future Fund seeks global tax consultant http://www.opalesque.com/SWF_Briefing/?p=17024 http://www.opalesque.com/SWF_Briefing/?p=17024#comments Tue, 03 Mar 2015 01:27:58 +0000 VRS http://www.opalesque.com/SWF_Briefing/?p=17024 <br> <a href=http://www.opalesque.com/SWF_Briefing/?p=17024>Article Link</a> The $110 billion Future Fund is in the market for a global tax consultant to help the sovereign wealth fund put its tax affairs in order following the Lux Leaks scandal that erupted last year. The tender for the Future Fund’s new Melbourne tax service comes just months after the group was revealed to have used tax haven Luxembourg and entities in the Cayman Islands to minimise taxes. (more…)

]]>
http://www.opalesque.com/SWF_Briefing/?feed=rss2&p=17024
Nigerian Sovereign Fund Doesn’t Expect State to Tap It for Funds http://www.opalesque.com/SWF_Briefing/?p=17020 http://www.opalesque.com/SWF_Briefing/?p=17020#comments Tue, 03 Mar 2015 01:27:05 +0000 VRS http://www.opalesque.com/SWF_Briefing/?p=17020 <br> <a href=http://www.opalesque.com/SWF_Briefing/?p=17020>Article Link</a> The government of Nigeria is unlikely to make withdrawals from the sovereign wealth fund in Africa’s largest oil producer, even as the price of crude declines. The Nigeria Sovereign Investment Authority, set up in 2012, isn’t yet large enough to make withdrawals worthwhile, Uche Orji, managing director and chief executive officer, said in an interview with Bloomberg Television at the Global Financial Markets Forum in Abu Dhabi. (more…)

]]>
http://www.opalesque.com/SWF_Briefing/?feed=rss2&p=17020
Temasek talks up board action after StanChart shake-up http://www.opalesque.com/SWF_Briefing/?p=16997 http://www.opalesque.com/SWF_Briefing/?p=16997#comments Fri, 27 Feb 2015 01:26:19 +0000 VRS http://www.opalesque.com/SWF_Briefing/?p=16997 <br> <a href=http://www.opalesque.com/SWF_Briefing/?p=16997>Article Link</a> Singaporean sovereign fund Temasek underlined the importance of boardroom renewal in a strong statement delivered in response to the radical shake-up at Standard Chartered Bank, which was announced yesterday. (more…)

]]>
http://www.opalesque.com/SWF_Briefing/?feed=rss2&p=16997
Standard Chartered Overhaul Gets Temasek Stamp of Approval http://www.opalesque.com/SWF_Briefing/?p=16996 http://www.opalesque.com/SWF_Briefing/?p=16996#comments Fri, 27 Feb 2015 01:26:08 +0000 VRS http://www.opalesque.com/SWF_Briefing/?p=16996 <br> <a href=http://www.opalesque.com/SWF_Briefing/?p=16996>Article Link</a> Temasek Holdings Pte. Ltd., the Singapore state investment company, which is the biggest shareholder of Standard Chartered PLC, said Thursday it welcomed Bill Winters as the new chief executive of the emerging markets bank. Mr. Winters, a former co-chief executive of the investment bank at J.P. Morgan Chase, was named as the group chief executive of Standard Chartered, replacing Peter Sands. (more…)

]]>
http://www.opalesque.com/SWF_Briefing/?feed=rss2&p=16996
Singapore Temasek says welcomes StanChart new CEO http://www.opalesque.com/SWF_Briefing/?p=16995 http://www.opalesque.com/SWF_Briefing/?p=16995#comments Fri, 27 Feb 2015 01:25:38 +0000 VRS http://www.opalesque.com/SWF_Briefing/?p=16995 <br> <a href=http://www.opalesque.com/SWF_Briefing/?p=16995>Article Link</a> Singapore state investor Temasek Holdings has welcomed the appointment of Bill Winters as Standard Chartered’s new chief executive. “We take this opportunity to welcome Bill Winters as the next CEO of Standard Chartered, to build on and grow its excellent franchise,” Temasek said in a statement. (more…)

]]>
http://www.opalesque.com/SWF_Briefing/?feed=rss2&p=16995
Kazakhstan’s sovereign wealth fund to optimize its costs http://www.opalesque.com/SWF_Briefing/?p=16976 http://www.opalesque.com/SWF_Briefing/?p=16976#comments Tue, 24 Feb 2015 01:24:20 +0000 VRS http://www.opalesque.com/SWF_Briefing/?p=16976 <br> <a href=http://www.opalesque.com/SWF_Briefing/?p=16976>Article Link</a> Kazakhstan’s Sovereign Wealth Fund Samruk-Kazyna in 2014 commissioned 13 projects worth US $2.9 billion and created more than 5.6 thousand temporary and 1.2 thousand permanent jobs, the Fund’s CEO Umirzak Shukeyev said last Friday while reporting on measures to implement the head of state’s instructions and Nurly Zhol program, and on the Fund’s financial results for the past year. (more…)

]]>
http://www.opalesque.com/SWF_Briefing/?feed=rss2&p=16976
Kazakh state wealth fund considers up to $2.5 bln borrowing in 2015 http://www.opalesque.com/SWF_Briefing/?p=16965 http://www.opalesque.com/SWF_Briefing/?p=16965#comments Mon, 23 Feb 2015 01:44:51 +0000 VRS http://www.opalesque.com/SWF_Briefing/?p=16965 <br> <a href=http://www.opalesque.com/SWF_Briefing/?p=16965>Article Link</a> Kazakhstan’s sovereign wealth fund Samruk-Kazyna is considering borrowing up to $2.5 billion this year abroad or domestically, depending on market conditions, fund chief Umirzak Shukeyev said on Friday. “We will probably need to borrow $2 billion or up to $2.5 billion this year,” Shukeyev told a news briefing. “We are now thinking where to borrow. It will all depend on conditions.” (more…)

]]>
http://www.opalesque.com/SWF_Briefing/?feed=rss2&p=16965
Jonathan Still The Best Man To rule Nigeria – Ex-Gov Obi http://www.opalesque.com/SWF_Briefing/?p=16961 http://www.opalesque.com/SWF_Briefing/?p=16961#comments Mon, 23 Feb 2015 01:43:54 +0000 VRS http://www.opalesque.com/SWF_Briefing/?p=16961 <br> <a href=http://www.opalesque.com/SWF_Briefing/?p=16961>Article Link</a> Nigerians have been urged to give another four years to President Goodluck Jonathan because he is head and shoulder above his All Progressives Congress, (APC) rival, Major General Muhammadu Buhari. Former Anambra State Governor, Peter Obi, who is also the Deputy Chairman of the Jonathan/ Sambo Campaign Organisation, made the appeal. (more…)

]]>
http://www.opalesque.com/SWF_Briefing/?feed=rss2&p=16961
1MDB belongs to the people, says veteran journalist http://www.opalesque.com/SWF_Briefing/?p=16953 http://www.opalesque.com/SWF_Briefing/?p=16953#comments Fri, 20 Feb 2015 00:51:02 +0000 VRS http://www.opalesque.com/SWF_Briefing/?p=16953 <br> <a href=http://www.opalesque.com/SWF_Briefing/?p=16953>Article Link</a> 1MDB belongs to the people, said veteran journalist Datuk A Kadir Jasin, who argued that the troubled sovereign wealth fund cannot hide behind a technicality to justify its secret business dealings. (more…)

]]>
http://www.opalesque.com/SWF_Briefing/?feed=rss2&p=16953
Mumtalakat given highest rating for transparency http://www.opalesque.com/SWF_Briefing/?p=16948 http://www.opalesque.com/SWF_Briefing/?p=16948#comments Thu, 19 Feb 2015 01:23:45 +0000 VRS http://www.opalesque.com/SWF_Briefing/?p=16948 <br> <a href=http://www.opalesque.com/SWF_Briefing/?p=16948>Article Link</a> Bahrain Mumtalakat Holding Company (Mumtalakat), the investment arm of the Kingdom of Bahrain, was ranked among the world’s most transparent sovereign wealth funds as it was rated ten out of ten in the 2015 Linaburg-Maduell Transparency Index. The rankings represent an upgrade from the previous year’s score of 9/10, reflecting the ongoing commitment of Mumtalakat’s Board of Directors led by H.E. Shaikh Khaled bin Abdulla Al Khalifa, Deputy Prime Minister and Chairman of the Board and the company’s management team to transparency. Mumtalakat was one of only 11 funds in the world to be awarded full marks for transparency, out of a total of 52 funds surveyed. (more…)

]]>
http://www.opalesque.com/SWF_Briefing/?feed=rss2&p=16948
ADIA Said to Oppose L&R in Bidding for Former UniCredit Milan HQ http://www.opalesque.com/SWF_Briefing/?p=16938 http://www.opalesque.com/SWF_Briefing/?p=16938#comments Tue, 17 Feb 2015 01:48:00 +0000 VRS http://www.opalesque.com/SWF_Briefing/?p=16938 <br> <a href=http://www.opalesque.com/SWF_Briefing/?p=16938>Article Link</a> Abu Dhabi Investment Authority, the world’s second-biggest sovereign wealth fund, and London & Regional Properties Ltd. have bid for the former headquarters of UniCredit SpA in Milan, according to two people familiar with the matter. (more…)

]]>
http://www.opalesque.com/SWF_Briefing/?feed=rss2&p=16938
Prosperity Fund part of wise resource management http://www.opalesque.com/SWF_Briefing/?p=16915 http://www.opalesque.com/SWF_Briefing/?p=16915#comments Fri, 13 Feb 2015 00:53:41 +0000 VRS http://www.opalesque.com/SWF_Briefing/?p=16915 <br> <a href=http://www.opalesque.com/SWF_Briefing/?p=16915>Article Link</a> In 2013, Premier Christy Clark announced an intention to create the B.C. Prosperity Fund using liquefied-natural-gas revenues. Since then, we’ve heard little about it. But as budget season comes around again, we might finally get some details. After all, last year’s budget said that the Prosperity Fund wouldn’t move forward until the LNG tax was finalized, and that happened last fall. This makes now a good time to renew the discussion about a sovereign wealth fund in B.C. (more…)

]]>
http://www.opalesque.com/SWF_Briefing/?feed=rss2&p=16915
Bud Smith: B.C. Prosperity Fund is no golden ticket http://www.opalesque.com/SWF_Briefing/?p=16899 http://www.opalesque.com/SWF_Briefing/?p=16899#comments Wed, 11 Feb 2015 01:24:51 +0000 VRS http://www.opalesque.com/SWF_Briefing/?p=16899 <br> <a href=http://www.opalesque.com/SWF_Briefing/?p=16899>Article Link</a> Lst year’s budget said that the Prosperity Fund wouldn’t move forward until the LNG tax was finalized, and that happened last fall. This makes now a good time to renew the discussion about a sovereign wealth fund in B.C. First off, let’s revisit what a sovereign wealth fund is and why resource-dependent regions use them. When it was first announced, the B.C. Prosperity Fund was pitched as a way for B.C. to pay off its debt, reduce taxes, and pay for social services. (more…)

]]>
http://www.opalesque.com/SWF_Briefing/?feed=rss2&p=16899
Enough with the lies – how involved is Jho Low with 1MDB? http://www.opalesque.com/SWF_Briefing/?p=16893 http://www.opalesque.com/SWF_Briefing/?p=16893#comments Tue, 10 Feb 2015 02:40:25 +0000 VRS http://www.opalesque.com/SWF_Briefing/?p=16893 <br> <a href=http://www.opalesque.com/SWF_Briefing/?p=16893>Article Link</a> DAP National Publicity Secretary Tony Pua has accused 1Malaysia Development Berhad (1MDB) and Jho Low of hiding the truth from Malaysians regarding the latter’s apparent non-involvement in the government’s sovereign wealth fund. Quoting an expose by the New York Times and more shocking revelations by the Sarawak Report that showed otherwise, the MP for Petaling Jaya Utara said, “it is now clear that both Jho Low and 1MDB have at best, been economical with the truth. At worst, they are lying through their teeth to Malaysians. (more…)

]]>
http://www.opalesque.com/SWF_Briefing/?feed=rss2&p=16893
Norway oil fund reveals divestments and resolution rejections http://www.opalesque.com/SWF_Briefing/?p=16871 http://www.opalesque.com/SWF_Briefing/?p=16871#comments Fri, 06 Feb 2015 01:01:54 +0000 VRS http://www.opalesque.com/SWF_Briefing/?p=16871 <br> <a href=http://www.opalesque.com/SWF_Briefing/?p=16871>Article Link</a> Norway’s $860bn oil fund laid out its growing clout as a responsible investor as it revealed that it had divested itself from more than 100 companies in the past three years and voted against tens of thousands of resolutions at annual meetings. (more…)

]]>
http://www.opalesque.com/SWF_Briefing/?feed=rss2&p=16871
Raub MP: 1MDB has lied to Malaysians http://www.opalesque.com/SWF_Briefing/?p=16851 http://www.opalesque.com/SWF_Briefing/?p=16851#comments Wed, 04 Feb 2015 00:59:13 +0000 VRS http://www.opalesque.com/SWF_Briefing/?p=16851 <br> <a href=http://www.opalesque.com/SWF_Briefing/?p=16851>Article Link</a> Raub MP Ariff Sabri Abdul Aziz declares in his latest blog posting that 1MDB has lied to Malaysians. “It is not a responsible borrower anymore,” he says. Referring to the company’s recent announcement that it has redeemed funds parked in the Cayman Islands and a subsequent news report that tycoon Ananda Krishnan is lending it RM2 billion, he points out that the two developments, taken together, are puzzling. (more…)

]]>
http://www.opalesque.com/SWF_Briefing/?feed=rss2&p=16851
Samruk-Kazyna Fund development plan approved http://www.opalesque.com/SWF_Briefing/?p=16845 http://www.opalesque.com/SWF_Briefing/?p=16845#comments Tue, 03 Feb 2015 00:39:08 +0000 VRS http://www.opalesque.com/SWF_Briefing/?p=16845 <br> <a href=http://www.opalesque.com/SWF_Briefing/?p=16845>Article Link</a> The Board of Directors of the Samruk-Kazyna Kazakh National Welfare Fund reviewed the results for 2014 and outlined plans for the next five years at the next meeting, chaired by Prime Minister Karim Massimov. (more…)

]]>
http://www.opalesque.com/SWF_Briefing/?feed=rss2&p=16845
ICD takes controlling stake in ailing South Korean construction company http://www.opalesque.com/SWF_Briefing/?p=16838 http://www.opalesque.com/SWF_Briefing/?p=16838#comments Mon, 02 Feb 2015 03:18:54 +0000 VRS http://www.opalesque.com/SWF_Briefing/?p=16838 <br> <a href=http://www.opalesque.com/SWF_Briefing/?p=16838>Article Link</a> Investment Corporation of Dubai (ICD) has acquired a controlling stake in the troubled South Korean construction firm Ssangyong Engineering & Construction, according to media reports. (more…)

]]>
http://www.opalesque.com/SWF_Briefing/?feed=rss2&p=16838
1MDB is turning into a serial borrower http://www.opalesque.com/SWF_Briefing/?p=16830 http://www.opalesque.com/SWF_Briefing/?p=16830#comments Mon, 02 Feb 2015 03:16:43 +0000 VRS http://www.opalesque.com/SWF_Briefing/?p=16830 <br> <a href=http://www.opalesque.com/SWF_Briefing/?p=16830>Article Link</a> Petaling Jaya Utara MP Tony Pua, look at it this way. The PM (as chairman of the sovereign fund) is caught between a rock and a hard place. If the loan is not repaid, those banks that lend the money to 1MDB (1Malaysia Development Berhad) would be in trouble in respect of their capital ratio adequacy caused by the non-performing loan (NPL) and BNM (Bank Negara Malaysia) would be forced to take action. (more…)

]]>
http://www.opalesque.com/SWF_Briefing/?feed=rss2&p=16830
Canary Wharf Group directors to pocket £23m from Qatari-led takeover http://www.opalesque.com/SWF_Briefing/?p=16827 http://www.opalesque.com/SWF_Briefing/?p=16827#comments Fri, 30 Jan 2015 03:39:02 +0000 VRS http://www.opalesque.com/SWF_Briefing/?p=16827 <br> <a href=http://www.opalesque.com/SWF_Briefing/?p=16827>Article Link</a> Directors of Canary Wharf Group are in line for a £23m windfall following the £2.6bn Qatari-led takeover of the property firm’s parent. Sir George Iacobescu, the head of Canary Wharf Group, will get the biggest share, £3.8m, from the sale of his Songbird shares to the Qatari Investment Authority and Canadian firm Brookfield Properties. (more…)

]]>
http://www.opalesque.com/SWF_Briefing/?feed=rss2&p=16827
After week-long silence, Pua calls 1MDB chief’s bluff over dialogue proposal http://www.opalesque.com/SWF_Briefing/?p=16800 http://www.opalesque.com/SWF_Briefing/?p=16800#comments Tue, 27 Jan 2015 03:56:24 +0000 VRS http://www.opalesque.com/SWF_Briefing/?p=16800 <br> <a href=http://www.opalesque.com/SWF_Briefing/?p=16800>Article Link</a> DAP MP Tony Pua asked if Arul Kanda Kandasamy no longer felt the need to subject 1 Malaysia Development Bhd (1MDB) to public scrutiny, noting the chief executive has remained silent since his offer to hold a dialogue more than a week ago. (more…)

]]>
http://www.opalesque.com/SWF_Briefing/?feed=rss2&p=16800
Goldman Sachs profit on disputed LIA trades back in focus http://www.opalesque.com/SWF_Briefing/?p=16793 http://www.opalesque.com/SWF_Briefing/?p=16793#comments Tue, 27 Jan 2015 03:54:07 +0000 VRS http://www.opalesque.com/SWF_Briefing/?p=16793 <br> <a href=http://www.opalesque.com/SWF_Briefing/?p=16793>Article Link</a> Goldman Sachs is estimated to have made $82m profit on nine disputed trades which are at the heart of a $1bn lawsuit brought against it by the Libyan Investment Authority — rather than the $350m which has been previously claimed, according to people familiar with the case. (more…)

]]>
http://www.opalesque.com/SWF_Briefing/?feed=rss2&p=16793
Najib duping Malaysians over 1MDB, says DAP http://www.opalesque.com/SWF_Briefing/?p=16779 http://www.opalesque.com/SWF_Briefing/?p=16779#comments Fri, 23 Jan 2015 01:12:29 +0000 VRS http://www.opalesque.com/SWF_Briefing/?p=16779 <br> <a href=http://www.opalesque.com/SWF_Briefing/?p=16779>Article Link</a> DAP today said Prime Minister Datuk Seri Najib Razak was insulting the intelligence of Malaysians with his “incredulous” claims about 1Malaysia Development Berhad (1MDB). Its national publicity chief Tony Pua questioned Najib’s justification that Putrajaya had only committed RM1 million to the controversial sovereign fund. (more…)

]]>
http://www.opalesque.com/SWF_Briefing/?feed=rss2&p=16779
Investment managers doing right by New Mexico http://www.opalesque.com/SWF_Briefing/?p=16765 http://www.opalesque.com/SWF_Briefing/?p=16765#comments Wed, 21 Jan 2015 00:57:40 +0000 VRS http://www.opalesque.com/SWF_Briefing/?p=16765 <br> <a href=http://www.opalesque.com/SWF_Briefing/?p=16765>Article Link</a> It is what New Mexico has that is entirely its own, which is why the money from these revenue flows are called sovereign wealth funds. Worldwide, there are some 50 sovereign wealth funds, led by Norway with $893 billion in assets and followed closely by Abu Dhabi, Saudi Arabia, Kuwait and China. In the United States, there are eight states that have sovereign funds, led by Alaska with $52 billion and Texas at $30 billion. (more…)

]]>
http://www.opalesque.com/SWF_Briefing/?feed=rss2&p=16765
How Is it That Norway Is Rich and We Are Not? http://www.opalesque.com/SWF_Briefing/?p=16754 http://www.opalesque.com/SWF_Briefing/?p=16754#comments Tue, 20 Jan 2015 01:08:39 +0000 VRS http://www.opalesque.com/SWF_Briefing/?p=16754 <br> <a href=http://www.opalesque.com/SWF_Briefing/?p=16754>Article Link</a> Norway - A small nation of about five million people nestled in the northwest corner of Europe. Either in this year or next, Norway’s sovereign wealth fund will crest a trillion dollars. Eighteen years ago the sovereign wealth fund sat at a mere $200 million. (more…)

]]>
http://www.opalesque.com/SWF_Briefing/?feed=rss2&p=16754
Norway Sticks to Budget Plan Despite Oil Slump http://www.opalesque.com/SWF_Briefing/?p=16750 http://www.opalesque.com/SWF_Briefing/?p=16750#comments Mon, 19 Jan 2015 01:36:29 +0000 VRS http://www.opalesque.com/SWF_Briefing/?p=16750 <br> <a href=http://www.opalesque.com/SWF_Briefing/?p=16750>Article Link</a> The finance minister of Norway, Western Europe’s biggest oil producer, said on Friday that she would sanction extra fiscal stimulus if the economic outlook were to worsen further but for now her budget plan for 2015 still holds despite the rapid drop in crude prices. (more…)

]]>
http://www.opalesque.com/SWF_Briefing/?feed=rss2&p=16750
Alaska’s fiscal perfect storm http://www.opalesque.com/SWF_Briefing/?p=16745 http://www.opalesque.com/SWF_Briefing/?p=16745#comments Mon, 19 Jan 2015 01:35:15 +0000 VRS http://www.opalesque.com/SWF_Briefing/?p=16745 <br> <a href=http://www.opalesque.com/SWF_Briefing/?p=16745>Article Link</a> Alaska depends on oil tax revenue from development on state lands to fund much of state government. Oil prices are volatile, and Alaska’s economy has ridden out ups and downs. With no state income or sales tax and no commitment to tap the $52 billion Permanent Fund, oil dictates most everything in Alaska. (more…)

]]>
http://www.opalesque.com/SWF_Briefing/?feed=rss2&p=16745
SOFAZ draft budget decided to be submitted to Azerbaijani President http://www.opalesque.com/SWF_Briefing/?p=16730 http://www.opalesque.com/SWF_Briefing/?p=16730#comments Thu, 15 Jan 2015 01:32:00 +0000 VRS http://www.opalesque.com/SWF_Briefing/?p=16730 <br> <a href=http://www.opalesque.com/SWF_Briefing/?p=16730>Article Link</a> SOFAZ Supervisory Board holds its following meeting A meeting of the Supervisory Board of the State Oil Fund of the Republic of Azerbaijan (SOFAZ) was held on January 8, 2015. The meeting chaired by Mr. Artur Rasi-zadeh, Prime Minister of Azerbaijan and Chairman of the Supervisory Board discussed the SOFAZ draft budget for 2015. (more…)

]]>
http://www.opalesque.com/SWF_Briefing/?feed=rss2&p=16730
Malaysia’s Khazanah Got Aboard The Alibaba Gravy Train http://www.opalesque.com/SWF_Briefing/?p=16721 http://www.opalesque.com/SWF_Briefing/?p=16721#comments Thu, 15 Jan 2015 01:30:01 +0000 VRS http://www.opalesque.com/SWF_Briefing/?p=16721 <br> <a href=http://www.opalesque.com/SWF_Briefing/?p=16721>Article Link</a> Khazanah, the Malay word for treasure, is also the name of Malaysia’s sovereign wealth fund. Like many major Asian investors, Kazanah saw value ahead of Alibaba’s IPO and invested $400 million in the burgeoning Chinese ecommerce giant back in 2012 and 2013. (more…)

]]>
http://www.opalesque.com/SWF_Briefing/?feed=rss2&p=16721
Super fund execs and trustees split on sponsorships http://www.opalesque.com/SWF_Briefing/?p=16694 http://www.opalesque.com/SWF_Briefing/?p=16694#comments Mon, 12 Jan 2015 03:28:40 +0000 VRS http://www.opalesque.com/SWF_Briefing/?p=16694 <br> <a href=http://www.opalesque.com/SWF_Briefing/?p=16694>Article Link</a> Despite new research suggesting that few superannuation fund members want to see their funds investing in sporting sponsorships, research conducted by Money Management’s sister publication, Super Review, suggests fund executives and trustees are split on whether members should even be asked their views. (more…)

]]>
http://www.opalesque.com/SWF_Briefing/?feed=rss2&p=16694
Why stress that 1MDB new boss is Muslim? http://www.opalesque.com/SWF_Briefing/?p=16690 http://www.opalesque.com/SWF_Briefing/?p=16690#comments Fri, 09 Jan 2015 03:24:19 +0000 VRS http://www.opalesque.com/SWF_Briefing/?p=16690 <br> <a href=http://www.opalesque.com/SWF_Briefing/?p=16690>Article Link</a> 1MDB new boss Arul Kanda Kandasamy is indeed a Muslim but so what? Ahmad Zahid Hamidi is also Muslim, while Idris Jala is a non-Muslim who was recruited for a very important task in Malaysia Airlines (MAS) once. (more…)

]]>
http://www.opalesque.com/SWF_Briefing/?feed=rss2&p=16690
Did 1MDB mislead auditors over Cayman funds, asks DAP http://www.opalesque.com/SWF_Briefing/?p=16689 http://www.opalesque.com/SWF_Briefing/?p=16689#comments Fri, 09 Jan 2015 03:24:04 +0000 VRS http://www.opalesque.com/SWF_Briefing/?p=16689 <br> <a href=http://www.opalesque.com/SWF_Briefing/?p=16689>Article Link</a> Sovereign fund 1Malaysia Development Bhd (1MDB) is in for questioning again, over US$1.23 billion of its funds in the Cayman Islands which have not yet been repatriated despite a directive to do so. (more…)

]]>
http://www.opalesque.com/SWF_Briefing/?feed=rss2&p=16689
Herculean task for new boss to revive 1MDB http://www.opalesque.com/SWF_Briefing/?p=16684 http://www.opalesque.com/SWF_Briefing/?p=16684#comments Thu, 08 Jan 2015 03:05:53 +0000 VRS http://www.opalesque.com/SWF_Briefing/?p=16684 <br> <a href=http://www.opalesque.com/SWF_Briefing/?p=16684>Article Link</a> First, 1Malaysia Development Berhad (1MDB) shouldn’t have been set up in the first place, as there are already too many of such government investment funds in this country. Second, 1MDB has gone in the opposite direction of its professed mission - not momentarily but consistently throughout its existence. This indicates that the motivating force of 1MDB is beyond the reach of its CEO, who has been changed frequently. (more…)

]]>
http://www.opalesque.com/SWF_Briefing/?feed=rss2&p=16684
China Investment Corp. Public-Equity Head Zheng Said to Leave http://www.opalesque.com/SWF_Briefing/?p=16678 http://www.opalesque.com/SWF_Briefing/?p=16678#comments Wed, 07 Jan 2015 01:21:51 +0000 VRS http://www.opalesque.com/SWF_Briefing/?p=16678 <br> <a href=http://www.opalesque.com/SWF_Briefing/?p=16678>Article Link</a> Zheng Kongdong, head of a China Investment Corp. department that specializes in publicly traded stocks, has left the nation’s $653 billion sovereign wealth fund, said three people with knowledge of the matter. (more…)

]]>
http://www.opalesque.com/SWF_Briefing/?feed=rss2&p=16678
Malaysian state investor 1MDB hires new chief as $3 bln IPO looms http://www.opalesque.com/SWF_Briefing/?p=16675 http://www.opalesque.com/SWF_Briefing/?p=16675#comments Wed, 07 Jan 2015 01:20:56 +0000 VRS http://www.opalesque.com/SWF_Briefing/?p=16675 <br> <a href=http://www.opalesque.com/SWF_Briefing/?p=16675>Article Link</a> Debt-ridden state fund 1 Malaysia Development Bhd (1MDB) said on Monday that it had hired an Abu Dhabi-based Malaysian investment banker as its new President and group executive director, who will embark on a review of the firm’s business. (more…)

]]>
http://www.opalesque.com/SWF_Briefing/?feed=rss2&p=16675
I met Najib over 1MDB, says Khairuddin http://www.opalesque.com/SWF_Briefing/?p=16673 http://www.opalesque.com/SWF_Briefing/?p=16673#comments Wed, 07 Jan 2015 01:20:25 +0000 VRS http://www.opalesque.com/SWF_Briefing/?p=16673 <br> <a href=http://www.opalesque.com/SWF_Briefing/?p=16673>Article Link</a> Batu Kawan Umno vice-chairman Khairuddin Abu Hassan had a private meeting with Prime Minister Najib Abdul Razak over the 1MDB issue a week before the latter left for the United States for his recent meeting with President Barack Obama. (more…)

]]>
http://www.opalesque.com/SWF_Briefing/?feed=rss2&p=16673
1MDB’s failure to settle debt seen driving down ringgit, says economist http://www.opalesque.com/SWF_Briefing/?p=16671 http://www.opalesque.com/SWF_Briefing/?p=16671#comments Wed, 07 Jan 2015 01:19:46 +0000 VRS http://www.opalesque.com/SWF_Briefing/?p=16671 <br> <a href=http://www.opalesque.com/SWF_Briefing/?p=16671>Article Link</a> 1Malaysia Development Bhd’s (1MDB) failure to settle an RM2 billion loan to local lenders has been a factor behind the extended drop in the ringgit against the dollar, an economist said. The Edge Financial Daily, quoting sources, reported today that the sovereign fund had missed its December 31, 2014, deadline for settlement of the loan, and had received an extension up to January 30, 2015, to settle the outstanding payment. (more…)

]]>
http://www.opalesque.com/SWF_Briefing/?feed=rss2&p=16671
1MDB CEO’s ‘sacking’ tip of the proverbial iceberg http://www.opalesque.com/SWF_Briefing/?p=16664 http://www.opalesque.com/SWF_Briefing/?p=16664#comments Tue, 06 Jan 2015 03:36:39 +0000 VRS http://www.opalesque.com/SWF_Briefing/?p=16664 <br> <a href=http://www.opalesque.com/SWF_Briefing/?p=16664>Article Link</a> The sudden resignation of the 1Malaysia Development Berhad (1MDB) CEO, Mohd Hazem Abdul Rahman, and the appointment of Abu Dhabi-based Malaysian banker Arul Kanda Kandasamy as executive president and executive director proves that all is not well with the sovereign wealth fund behind the steely façade presented by both the company as well as Prime Minister Najib Abdul Razak, according to Petaling Jaya Utara MP Tony Pua in a statement. (more…)

]]>
http://www.opalesque.com/SWF_Briefing/?feed=rss2&p=16664
Depleting Excess Crude Account Causing Nigeria’s Economic Woes – Obasanjo http://www.opalesque.com/SWF_Briefing/?p=16662 http://www.opalesque.com/SWF_Briefing/?p=16662#comments Tue, 06 Jan 2015 03:36:08 +0000 VRS http://www.opalesque.com/SWF_Briefing/?p=16662 <br> <a href=http://www.opalesque.com/SWF_Briefing/?p=16662>Article Link</a> A former Nigerian President, Mr Olusegun Obasanjo, has blamed the present economic woes facing the nation on the depletion of the Excess Crude Account and the external reserves. Mr Obasanjo made the assertion on Monday at a meeting with women leaders from the south-west states held at his hilltop residence in Abeokuta, the Ogun State capital. (more…)

]]>
http://www.opalesque.com/SWF_Briefing/?feed=rss2&p=16662
HK Monetary Authority continues conservative policy http://www.opalesque.com/SWF_Briefing/?p=16655 http://www.opalesque.com/SWF_Briefing/?p=16655#comments Mon, 05 Jan 2015 03:35:15 +0000 VRS http://www.opalesque.com/SWF_Briefing/?p=16655 <br> <a href=http://www.opalesque.com/SWF_Briefing/?p=16655>Article Link</a> The Monetary Authority is sticking to its cautious approach in investing for the fiscal reserve, as evidenced by the return rate of 1.19 per cent recorded at the end of September. The Monetary Authority of Macau says that the local inflation rate as a benchmark for gauging the returns on the city’s fiscal reserve investment is not “suitable”, as the reserve is more a “stabilisation fund” than a sovereign wealth fund that has a longer investment period and a bigger risk appetite. (more…)

]]>
http://www.opalesque.com/SWF_Briefing/?feed=rss2&p=16655
SOFAZ planning to decrease expenditures http://www.opalesque.com/SWF_Briefing/?p=16648 http://www.opalesque.com/SWF_Briefing/?p=16648#comments Fri, 02 Jan 2015 04:10:52 +0000 VRS http://www.opalesque.com/SWF_Briefing/?p=16648 <br> <a href=http://www.opalesque.com/SWF_Briefing/?p=16648>Article Link</a> Azerbaijan’s state oil fund SOFAZ is working out a mechanism for decreasing its expenditures. This measure is taken to ensure the sustainability of the fund’s development in the coming years, SOFAZ Head Shahmar Movsumov told Trend Agency. He noted the global decrease in oil prices will negatively affect the revenues of SOFAZ. In this regard, SOFAZ is working out various scenarios to balance its revenues. (more…)

]]>
http://www.opalesque.com/SWF_Briefing/?feed=rss2&p=16648
President Ilham Aliyev inaugurates new SOFAZ building http://www.opalesque.com/SWF_Briefing/?p=16646 http://www.opalesque.com/SWF_Briefing/?p=16646#comments Fri, 02 Jan 2015 04:10:20 +0000 VRS http://www.opalesque.com/SWF_Briefing/?p=16646 <br> <a href=http://www.opalesque.com/SWF_Briefing/?p=16646>Article Link</a> Azerbaijani President Ilham Aliyev and his spouse Mehriban Aliyeva have today attended the opening of new administrative building of the State Oil Fund of Azerbaijan. APA reports that head of state has cut the ribbon symbolizing the opening of the building. (more…)

]]>
http://www.opalesque.com/SWF_Briefing/?feed=rss2&p=16646
1MDB Chairman Addresses Allegations Against The Fund http://www.opalesque.com/SWF_Briefing/?p=16637 http://www.opalesque.com/SWF_Briefing/?p=16637#comments Fri, 02 Jan 2015 04:08:13 +0000 VRS http://www.opalesque.com/SWF_Briefing/?p=16637 <br> <a href=http://www.opalesque.com/SWF_Briefing/?p=16637>Article Link</a> As the chairman of the Board of Directors of 1MDB, I have viewed with surprise recent statements, both in the media and by certain individuals, suggesting that the company has failed to respond to various questions that have been directed at it over the past months. (more…)

]]>
http://www.opalesque.com/SWF_Briefing/?feed=rss2&p=16637
For the record… a statement from 1MDB – Lodin Wok Kamaruddin http://www.opalesque.com/SWF_Briefing/?p=16630 http://www.opalesque.com/SWF_Briefing/?p=16630#comments Tue, 23 Dec 2014 00:42:07 +0000 VRS http://www.opalesque.com/SWF_Briefing/?p=16630 <br> <a href=http://www.opalesque.com/SWF_Briefing/?p=16630>Article Link</a> As the chairman of the Board of Directors of 1MDB, I have viewed with surprise recent statements, both in the media and by certain individuals, suggesting that the company has failed to respond to various questions that have been directed at it over the past months. (more…)

]]>
http://www.opalesque.com/SWF_Briefing/?feed=rss2&p=16630