Opalesque Sovereign Wealth Funds Briefing » Fund Management/Administration http://www.opalesque.com/SWF_Briefing Fri, 03 Jul 2015 01:59:36 +0000 http://wordpress.org/?v=2.5.1 en Russian Minister Calls for Wealth-Fund Boost to Stem Ruble Gains http://www.opalesque.com/SWF_Briefing/?p=17790 http://www.opalesque.com/SWF_Briefing/?p=17790#comments Fri, 03 Jul 2015 01:59:36 +0000 VRS http://www.opalesque.com/SWF_Briefing/?p=17790 <br> <a href=http://www.opalesque.com/SWF_Briefing/?p=17790>Article Link</a> Russia should start replenishing its Reserve Fund with proceeds from higher oil prices to stem the ruble’s appreciation, according to Finance Minister Anton Siluanov. The Finance Ministry proposes buying foreign currency for one of its two sovereign wealth funds if oil prices rise higher than $70 per barrel, Siluanov told reporters Thursday. (more…)

]]>
http://www.opalesque.com/SWF_Briefing/?feed=rss2&p=17790
Mint Asset Management to manage active NZ equities for NZ Super Fund http://www.opalesque.com/SWF_Briefing/?p=17785 http://www.opalesque.com/SWF_Briefing/?p=17785#comments Fri, 03 Jul 2015 01:57:26 +0000 VRS http://www.opalesque.com/SWF_Briefing/?p=17785 <br> <a href=http://www.opalesque.com/SWF_Briefing/?p=17785>Article Link</a> Mint Asset Management has been appointed to a $150m active New Zealand equities mandate for the New Zealand Superannuation Fund. The appointment was effective July 1st and transition of the mandate to Mint is now complete. Matt Whineray, NZ Super Fund chief investment officer, says the Fund was committed to using a combination of external managers alongside its internal team to manage its $1-billion plus portfolio of New Zealand equities. (more…)

]]>
http://www.opalesque.com/SWF_Briefing/?feed=rss2&p=17785
Head of State Oil Fund of Azerbaijan remains in Supervisory Board of VTB Bank http://www.opalesque.com/SWF_Briefing/?p=17777 http://www.opalesque.com/SWF_Briefing/?p=17777#comments Thu, 02 Jul 2015 02:19:27 +0000 VRS http://www.opalesque.com/SWF_Briefing/?p=17777 <br> <a href=http://www.opalesque.com/SWF_Briefing/?p=17777>Article Link</a> The Executive Director of the State Oil Fund of Azerbaijan (SOFAZ) Shahmar Movsumov was elected to the new Supervisory Board of VTB Bank, where he has been serving as an independent member since June 28, 2013. (more…)

]]>
http://www.opalesque.com/SWF_Briefing/?feed=rss2&p=17777
Permanent Fund names ‘temporary’ director, boosts her salary http://www.opalesque.com/SWF_Briefing/?p=17768 http://www.opalesque.com/SWF_Briefing/?p=17768#comments Thu, 02 Jul 2015 02:17:13 +0000 VRS http://www.opalesque.com/SWF_Briefing/?p=17768 <br> <a href=http://www.opalesque.com/SWF_Briefing/?p=17768>Article Link</a> Valerie Mertz, chief financial officer of the Alaska Permanent Fund Corp., has been named the temporary executive director following the resignation of long-time executive director Mike Burns. Mertz had been filling in for Burns on an interim basis since June 1, but that interim appointment had been scheduled to expire Tuesday. (more…)

]]>
http://www.opalesque.com/SWF_Briefing/?feed=rss2&p=17768
China to let NSSF manage $322 billion in local pension funds http://www.opalesque.com/SWF_Briefing/?p=17749 http://www.opalesque.com/SWF_Briefing/?p=17749#comments Mon, 29 Jun 2015 00:25:30 +0000 VRS http://www.opalesque.com/SWF_Briefing/?p=17749 <br> <a href=http://www.opalesque.com/SWF_Briefing/?p=17749>Article Link</a> China’s cabinet has approved plans for the manager of the country’s biggest pension fund to manage pension funds worth about 2 trillion yuan ($322 billion) for local authorities, two industry sources with direct knowledge of the matter said. China is trying to strengthen its pension system to meet the huge demographic challenge of an already-shrinking working-age population as it looks to turn the economy into one driven by consumption and services rather than investment and exports. (more…)

]]>
http://www.opalesque.com/SWF_Briefing/?feed=rss2&p=17749
Zimbabwe: Huge Task Ahead for SWF Board http://www.opalesque.com/SWF_Briefing/?p=17741 http://www.opalesque.com/SWF_Briefing/?p=17741#comments Fri, 26 Jun 2015 02:35:34 +0000 VRS http://www.opalesque.com/SWF_Briefing/?p=17741 <br> <a href=http://www.opalesque.com/SWF_Briefing/?p=17741>Article Link</a> Finance Minister Patrick Chinamasa last week announced the appointment of a board for the Sovereign Wealth Fund (SWF), managed by the National Indigenisation and Economic Empowerment Board (NIEEB) which is currently subject of a Parliamentary enquiry on how it handled several indigenisation deals. (more…)

]]>
http://www.opalesque.com/SWF_Briefing/?feed=rss2&p=17741
President Aliyev approves SOFAZ budget http://www.opalesque.com/SWF_Briefing/?p=17737 http://www.opalesque.com/SWF_Briefing/?p=17737#comments Fri, 26 Jun 2015 02:34:48 +0000 VRS http://www.opalesque.com/SWF_Briefing/?p=17737 <br> <a href=http://www.opalesque.com/SWF_Briefing/?p=17737>Article Link</a> President Ilham Aliyev has signed a decree on the budget of Azerbaijan’s state oil fund SOFAZ for 2014. According to the document signed on June 24, the president approved the implementation of the SOFAZ budget with its revenues at over 12.731 billion manats and expenditures at over 10.117 billion manats. (more…)

]]>
http://www.opalesque.com/SWF_Briefing/?feed=rss2&p=17737
Renzi plans shake-up at Italy’s EUR400bn sovereign wealth fund http://www.opalesque.com/SWF_Briefing/?p=17732 http://www.opalesque.com/SWF_Briefing/?p=17732#comments Thu, 25 Jun 2015 00:39:44 +0000 VRS http://www.opalesque.com/SWF_Briefing/?p=17732 <br> <a href=http://www.opalesque.com/SWF_Briefing/?p=17732>Article Link</a> Matteo Renzi, Italy’s prime minister, is planning to extend his reformist agenda into Italian business and finance as he seeks a more aggressive mandate for the country’s €400bn sovereign wealth fund in an effort to spur growth and create jobs. (more…)

]]>
http://www.opalesque.com/SWF_Briefing/?feed=rss2&p=17732
African central bank governors to discuss sovereign wealth funds http://www.opalesque.com/SWF_Briefing/?p=17730 http://www.opalesque.com/SWF_Briefing/?p=17730#comments Thu, 25 Jun 2015 00:39:13 +0000 VRS http://www.opalesque.com/SWF_Briefing/?p=17730 <br> <a href=http://www.opalesque.com/SWF_Briefing/?p=17730>Article Link</a> Central bank governors drawn mainly from eastern and southern Africa will meet for a workshop to discuss the leveraging of sovereign wealth funds to establish economic stabilization on the continent. Reserve Bank of Zimbabwe John Mangudya will officially open the forum held in Switzerland on June 27, according to the forum’s organizer, the Macroeconomic and Financial Management Institute of Eastern and Southern Africa (MEFMI), which operates in 14 African countries. (more…)

]]>
http://www.opalesque.com/SWF_Briefing/?feed=rss2&p=17730
Nigerian Governors : Our problem with ECA, SWF http://www.opalesque.com/SWF_Briefing/?p=17729 http://www.opalesque.com/SWF_Briefing/?p=17729#comments Thu, 25 Jun 2015 00:39:02 +0000 VRS http://www.opalesque.com/SWF_Briefing/?p=17729 <br> <a href=http://www.opalesque.com/SWF_Briefing/?p=17729>Article Link</a> State governors yesterday said they were opposed to the continued existence of the Excess Crude Account and the Sovereign Wealth Fund (SWF) because both had been abused by the federal government. The chairman of the Nigeria Governors’ Forum and Zamfara State Governor Abdulazeez Yari, stated this while speaking with reporters after the governors met President Muhammadu Buhari. (more…)

]]>
http://www.opalesque.com/SWF_Briefing/?feed=rss2&p=17729
CFAs thrive in Abu Dhabi as sovereign wealth funds trump Wall Street banks http://www.opalesque.com/SWF_Briefing/?p=17707 http://www.opalesque.com/SWF_Briefing/?p=17707#comments Tue, 23 Jun 2015 02:10:02 +0000 VRS http://www.opalesque.com/SWF_Briefing/?p=17707 <br> <a href=http://www.opalesque.com/SWF_Briefing/?p=17707>Article Link</a> Abu Dhabi wealth funds are recruiting and creating more holders of the Chartered Financial Analyst designation than any other employer in the Middle East as they seek greater control over how the emirates’ wealth is managed. (more…)

]]>
http://www.opalesque.com/SWF_Briefing/?feed=rss2&p=17707
CFAs Dominant in Abu Dhabi as Wealth Funds Trump Banks http://www.opalesque.com/SWF_Briefing/?p=17688 http://www.opalesque.com/SWF_Briefing/?p=17688#comments Fri, 19 Jun 2015 02:52:44 +0000 VRS http://www.opalesque.com/SWF_Briefing/?p=17688 <br> <a href=http://www.opalesque.com/SWF_Briefing/?p=17688>Article Link</a> Abu Dhabi wealth funds are recruiting and creating more holders of the Chartered Financial Analyst designation than any other employer in the Middle East as they seek greater control over how the emirate’s wealth is managed. (more…)

]]>
http://www.opalesque.com/SWF_Briefing/?feed=rss2&p=17688
Qatar SWF Said to Plan Overhaul of $304B Portfolio http://www.opalesque.com/SWF_Briefing/?p=17686 http://www.opalesque.com/SWF_Briefing/?p=17686#comments Fri, 19 Jun 2015 02:52:10 +0000 VRS http://www.opalesque.com/SWF_Briefing/?p=17686 <br> <a href=http://www.opalesque.com/SWF_Briefing/?p=17686>Article Link</a> The opaque sovereign wealth fund is reportedly seeking to introduce asset allocation targets for the first time. The Qatar Investment Authority (QIA) is said to be planning a wide-ranging overhaul of its estimated $304 billion portfolio, according to a report. The QIA will set out target asset allocation levels for the first time and restructure its decision-making processes, Reuters reported, citing several anonymous sources. (more…)

]]>
http://www.opalesque.com/SWF_Briefing/?feed=rss2&p=17686
Qatar’s sovereign wealth fund to restructure, say sources http://www.opalesque.com/SWF_Briefing/?p=17670 http://www.opalesque.com/SWF_Briefing/?p=17670#comments Wed, 17 Jun 2015 02:53:26 +0000 VRS http://www.opalesque.com/SWF_Briefing/?p=17670 <br> <a href=http://www.opalesque.com/SWF_Briefing/?p=17670>Article Link</a> Qatar Investment Authority, one of the world’s most aggressive sovereign wealth funds, will set asset allocation targets for the first time and restructure internal decision-making, sources say, in response to a drop in oil prices that has crimped available funds as competition for assets grows. (more…)

]]>
http://www.opalesque.com/SWF_Briefing/?feed=rss2&p=17670
Zim needs effective fiscal policy for SWF http://www.opalesque.com/SWF_Briefing/?p=17660 http://www.opalesque.com/SWF_Briefing/?p=17660#comments Tue, 16 Jun 2015 02:46:31 +0000 VRS http://www.opalesque.com/SWF_Briefing/?p=17660 <br> <a href=http://www.opalesque.com/SWF_Briefing/?p=17660>Article Link</a> Government needs to formulate sound fiscal policy and ensure effective public finance management when investing proceeds from finite natural resources to achieve sustainable economic, a paper from a local research unit noted. The paper details part of initial efforts to interrogate what the Government needs to do when setting up a Sovereign Wealth Fund (SWF) to manage inflows from the country’s natural resources to support future economic growth. (more…)

]]>
http://www.opalesque.com/SWF_Briefing/?feed=rss2&p=17660
PM will solve 1MDB woes by year-end http://www.opalesque.com/SWF_Briefing/?p=17641 http://www.opalesque.com/SWF_Briefing/?p=17641#comments Mon, 15 Jun 2015 02:36:40 +0000 VRS http://www.opalesque.com/SWF_Briefing/?p=17641 <br> <a href=http://www.opalesque.com/SWF_Briefing/?p=17641>Article Link</a> Prime Minister Najib Abdul Razak promises Umno divisions today that he will resolved 1MDB’s problems before the year ends. This promise was made to about 1,500 Umno division information chiefs and NGO representatives, during a closed-door briefing at PWTC this afternoon. (more…)

]]>
http://www.opalesque.com/SWF_Briefing/?feed=rss2&p=17641
Alaska Permanent Fund can fill the budget gap if only we’d recognize it’s time http://www.opalesque.com/SWF_Briefing/?p=17639 http://www.opalesque.com/SWF_Briefing/?p=17639#comments Mon, 15 Jun 2015 02:36:14 +0000 VRS http://www.opalesque.com/SWF_Briefing/?p=17639 <br> <a href=http://www.opalesque.com/SWF_Briefing/?p=17639>Article Link</a> On the heels of Gov. Bill Walker’s three-day “Building a Sustainable Future” shindig in Fairbanks to hash out details of Alaska’s fiscal problems and possible solutions, many of us are wondering when Alaskans will get around to connecting the dots. (more…)

]]>
http://www.opalesque.com/SWF_Briefing/?feed=rss2&p=17639
Singapore’s GIC Investment Firm Moves to 280 Park Avenue http://www.opalesque.com/SWF_Briefing/?p=17636 http://www.opalesque.com/SWF_Briefing/?p=17636#comments Fri, 12 Jun 2015 01:20:05 +0000 VRS http://www.opalesque.com/SWF_Briefing/?p=17636 <br> <a href=http://www.opalesque.com/SWF_Briefing/?p=17636>Article Link</a> A Singapore-owned investment firm has inked a deal for 49,724 square feet at 280 Park Avenue, The New York Post reported. GIC, the financial firm owned by the Singapore government, will go on the ninth floor of the 28-story building between East 39th and East 40th Streets at the start of next year, according to the Post. The lease is for 15 years. The firm is leaving 335 Madison Avenue between East 43 and East 44th Streets (where its current lease ran through 2022), which is currently slated to be torn down and a new tower put in its place. (more…)

]]>
http://www.opalesque.com/SWF_Briefing/?feed=rss2&p=17636
Egypt sovereign investment fund plan approved http://www.opalesque.com/SWF_Briefing/?p=17634 http://www.opalesque.com/SWF_Briefing/?p=17634#comments Fri, 12 Jun 2015 01:19:15 +0000 VRS http://www.opalesque.com/SWF_Briefing/?p=17634 <br> <a href=http://www.opalesque.com/SWF_Briefing/?p=17634>Article Link</a> The Egyptian government said it had approved a proposal to set up a sovereign investment fund to support economic development through returns on the state’s assets and resources. The fund, called Amlak, will be state-owned through the National Investment Bank. (more…)

]]>
http://www.opalesque.com/SWF_Briefing/?feed=rss2&p=17634
NBIM Makes the Case Against Bundled Board Votes http://www.opalesque.com/SWF_Briefing/?p=17580 http://www.opalesque.com/SWF_Briefing/?p=17580#comments Fri, 05 Jun 2015 04:02:17 +0000 VRS http://www.opalesque.com/SWF_Briefing/?p=17580 <br> <a href=http://www.opalesque.com/SWF_Briefing/?p=17580>Article Link</a> Norges Bank Investment Management (NBIM), manager of Norway’s massive sovereign wealth fund, publicly issued a position paper titled “Individual Vote Count in Board Elections”. The paper thoughtfully presents a case, arguing in favor that corporate board directors “should be elected with an individual vote count at the shareholder meeting, and the vote tally published.” (more…)

]]>
http://www.opalesque.com/SWF_Briefing/?feed=rss2&p=17580
It’s all for one, not one for all, at Norway’s sovereign fund http://www.opalesque.com/SWF_Briefing/?p=17576 http://www.opalesque.com/SWF_Briefing/?p=17576#comments Thu, 04 Jun 2015 03:06:45 +0000 VRS http://www.opalesque.com/SWF_Briefing/?p=17576 <br> <a href=http://www.opalesque.com/SWF_Briefing/?p=17576>Article Link</a> Norway’s sovereign fund, one of the world’s biggest investors, is sick of companies putting all their directors up for a single take-it-or-leave-it approval vote. It wants to be able to pick off any bad apples individually. (more…)

]]>
http://www.opalesque.com/SWF_Briefing/?feed=rss2&p=17576
Achievements of the sovereign wealth fund of Senegal (Video) http://www.opalesque.com/SWF_Briefing/?p=17574 http://www.opalesque.com/SWF_Briefing/?p=17574#comments Thu, 04 Jun 2015 03:01:34 +0000 VRS http://www.opalesque.com/SWF_Briefing/?p=17574 <br> <a href=http://www.opalesque.com/SWF_Briefing/?p=17574>Article Link</a> Regional growth is projected to remain stable above in 2015, buoyed by rising investment flows. Joining CNBC Africa, on the side lines of WEF Africa, to give some perspective on the Sovereign Wealth Fund of Senegal and what has been achieved in the last two years is Amadou Hott, CEO of Sovereign Wealth Fund of Senegal for Strategic Investments. (more…)

]]>
http://www.opalesque.com/SWF_Briefing/?feed=rss2&p=17574
Abu Dhabi Wealth Fund Leans Less on Outside Fund Managers http://www.opalesque.com/SWF_Briefing/?p=17569 http://www.opalesque.com/SWF_Briefing/?p=17569#comments Wed, 03 Jun 2015 01:52:40 +0000 VRS http://www.opalesque.com/SWF_Briefing/?p=17569 <br> <a href=http://www.opalesque.com/SWF_Briefing/?p=17569>Article Link</a> The chance for fund managers to help Abu Dhabi invest its oil fortune is getting slimmer by the year. Abu Dhabi Investment Authority, one of the world’s biggest sovereign wealth funds, said about 65 percent of its assets were managed by external fund managers last year, compared with 75 percent in 2013, according to its annual report. In 2011, outside investors managed about 80 percent of the fund’s assets. (more…)

]]>
http://www.opalesque.com/SWF_Briefing/?feed=rss2&p=17569
Abu Dhabi fund ADIA manages more of its billions in-house http://www.opalesque.com/SWF_Briefing/?p=17568 http://www.opalesque.com/SWF_Briefing/?p=17568#comments Wed, 03 Jun 2015 01:52:27 +0000 VRS http://www.opalesque.com/SWF_Briefing/?p=17568 <br> <a href=http://www.opalesque.com/SWF_Briefing/?p=17568>Article Link</a> Abu Dhabi Investment Authority (ADIA), one of the world’s biggest sovereign wealth funds, managed more of its money in-house last year as it strengthened its capabilities and added staff in some areas, ADIA said on Tuesday. The proportion of its assets managed by external fund managers fell to 65 percent last year from 75 percent in 2013, the authority said in its annual review. (more…)

]]>
http://www.opalesque.com/SWF_Briefing/?feed=rss2&p=17568
Abu Dhabi Investment Authority bolsters internally managed capabilities in 2014 http://www.opalesque.com/SWF_Briefing/?p=17567 http://www.opalesque.com/SWF_Briefing/?p=17567#comments Wed, 03 Jun 2015 01:52:15 +0000 VRS http://www.opalesque.com/SWF_Briefing/?p=17567 <br> <a href=http://www.opalesque.com/SWF_Briefing/?p=17567>Article Link</a> Abu Dhabi Investment Authority cut the percentage of assets managed by external money managers to 65% from 75% a year earlier, said its 2014 annual report. The move to reduce externally managed assets by the sovereign wealth fund reflected its “efforts over recent years to strengthen the organization’s in-house investment and analytical expertise,” said Hamed bin Zayed Al Nahyan, managing director, in the review. Further details weren’t available. (more…)

]]>
http://www.opalesque.com/SWF_Briefing/?feed=rss2&p=17567
Norway’s oil fund criticises bundled board member voting http://www.opalesque.com/SWF_Briefing/?p=17564 http://www.opalesque.com/SWF_Briefing/?p=17564#comments Wed, 03 Jun 2015 01:51:37 +0000 VRS http://www.opalesque.com/SWF_Briefing/?p=17564 <br> <a href=http://www.opalesque.com/SWF_Briefing/?p=17564>Article Link</a> Norway’s NOK6.9trn (€812bn) sovereign wealth fund has spoken out against shareholder voting practices that stop asset owners from being able to single out individual company directors when they are unhappy with them. (more…)

]]>
http://www.opalesque.com/SWF_Briefing/?feed=rss2&p=17564
Prime Minister Rasizade reelected chairman of SOFAZ Supervisory Board http://www.opalesque.com/SWF_Briefing/?p=17562 http://www.opalesque.com/SWF_Briefing/?p=17562#comments Wed, 03 Jun 2015 01:51:13 +0000 VRS http://www.opalesque.com/SWF_Briefing/?p=17562 <br> <a href=http://www.opalesque.com/SWF_Briefing/?p=17562>Article Link</a> Prime Minister Artur Rasizade has been reelected as the chairman of the Supervisory Board of the State Oil Fund of the Republic of Azerbaijan (SOFAZ) at its meeting in Baku. The Supervisory Board discussed the Fund’s annual report and audited financial statements for the year of 2014 and a report on execution of the 2014 budget. (more…)

]]>
http://www.opalesque.com/SWF_Briefing/?feed=rss2&p=17562
China wealth-fund executive’s departure said to be unconnected with stock plunge http://www.opalesque.com/SWF_Briefing/?p=17559 http://www.opalesque.com/SWF_Briefing/?p=17559#comments Tue, 02 Jun 2015 00:54:18 +0000 VRS http://www.opalesque.com/SWF_Briefing/?p=17559 <br> <a href=http://www.opalesque.com/SWF_Briefing/?p=17559>Article Link</a> Sovereign-wealth fund China Investment Corp. (CIC) said Friday it had accepted the resignation of its deputy general manager, Xie Zhichun. The announcement said Xie also left his position as president and executive director of Central Huijin Investment Ltd., CIC’s wholly owned subsidiary, which primarily invests in financial institutions. (more…)

]]>
http://www.opalesque.com/SWF_Briefing/?feed=rss2&p=17559
The Man with Pounds 44 Billion Taking on Two Global Banking Giants http://www.opalesque.com/SWF_Briefing/?p=17557 http://www.opalesque.com/SWF_Briefing/?p=17557#comments Tue, 02 Jun 2015 00:53:42 +0000 VRS http://www.opalesque.com/SWF_Briefing/?p=17557 <br> <a href=http://www.opalesque.com/SWF_Briefing/?p=17557>Article Link</a> Hassan Bouhadi, the chairman of Libya’s $67bn (pounds 44bn) national wealth fund, the Libyan Investment Authority, doesn’t want his job to be this interesting. Ideally, he would be in Libya’s capital Tripoli, quietly stewarding the country’s wealth, smoothing out the public finances of an economy that is 97pc dependent on volatile oil revenues. (more…)

]]>
http://www.opalesque.com/SWF_Briefing/?feed=rss2&p=17557
Libyan investment chief: ‘Goldman Sachs squandered a nation’s wealth, someone has to answer’ http://www.opalesque.com/SWF_Briefing/?p=17544 http://www.opalesque.com/SWF_Briefing/?p=17544#comments Mon, 01 Jun 2015 01:49:50 +0000 VRS http://www.opalesque.com/SWF_Briefing/?p=17544 <br> <a href=http://www.opalesque.com/SWF_Briefing/?p=17544>Article Link</a> Interview: Hassan Bouhadi, the chairman of the Libyan Investment Authority, outlines his role in helping to rebuild the war-torn nation. Hassan Bouhadi, the chairman of Libya’s $67bn (£44bn) national wealth fund, the Libyan Investment Authority, doesn’t want his job to be this interesting. (more…)

]]>
http://www.opalesque.com/SWF_Briefing/?feed=rss2&p=17544
Bahrain fund Mumtalakat rejects mismanagement claims as 2014 profit rises http://www.opalesque.com/SWF_Briefing/?p=17529 http://www.opalesque.com/SWF_Briefing/?p=17529#comments Thu, 28 May 2015 03:37:28 +0000 VRS http://www.opalesque.com/SWF_Briefing/?p=17529 <br> <a href=http://www.opalesque.com/SWF_Briefing/?p=17529>Article Link</a> The head of Bahrain sovereign fund Mumtalakat has rebutted allegations made by some parliamentarians that the fund has been financially mismanaged, pointing on Wednesday to increased earnings as proof of its performance. The fund, which holds stakes in Bahraini companies including Aluminium Bahrain (Alba), Gulf Air and Batelco, posted a 10.8 per cent increase in net profit in 2014 as higher revenue outpaced a rise in impairments. (more…)

]]>
http://www.opalesque.com/SWF_Briefing/?feed=rss2&p=17529
Abu Dhabi Staffs Up with US Equity Hire http://www.opalesque.com/SWF_Briefing/?p=17528 http://www.opalesque.com/SWF_Briefing/?p=17528#comments Thu, 28 May 2015 03:37:12 +0000 VRS http://www.opalesque.com/SWF_Briefing/?p=17528 <br> <a href=http://www.opalesque.com/SWF_Briefing/?p=17528>Article Link</a> The Abu Dhabi Investment Authority (ADIA) has hired its first head of US equities for its internal team, the sovereign wealth fund has announced. John Pandtle joined from Eagle Asset Management where he was a portfolio manager. He spent five years at the Florida-based fund manager, and previously worked at its parent company Raymond James. (more…)

]]>
http://www.opalesque.com/SWF_Briefing/?feed=rss2&p=17528
6 steps to good governance and how Africa’s sovereign wealth funds measure up http://www.opalesque.com/SWF_Briefing/?p=17513 http://www.opalesque.com/SWF_Briefing/?p=17513#comments Wed, 27 May 2015 00:06:15 +0000 VRS http://www.opalesque.com/SWF_Briefing/?p=17513 <br> <a href=http://www.opalesque.com/SWF_Briefing/?p=17513>Article Link</a> Africans should be asking these questions about their sovereign wealth funds (SWF): 1.Set clear fund objectives: Examples include saving for future generation, stabilizing the budget, earmarking natural resource revenue for development priorities. 2.Establish fiscal rules for deposits and withdrawals that align with the objectives. Botswana avoids such rules. Where funds are allowed to invest domestically, including in social spending, they should work with national budget processes. Angola’s sovereign fund can bypass normal budgetary procedures. (more…)

]]>
http://www.opalesque.com/SWF_Briefing/?feed=rss2&p=17513
State fund appoints administrator for Malaysia Airlines restructuring http://www.opalesque.com/SWF_Briefing/?p=17510 http://www.opalesque.com/SWF_Briefing/?p=17510#comments Tue, 26 May 2015 01:55:37 +0000 VRS http://www.opalesque.com/SWF_Briefing/?p=17510 <br> <a href=http://www.opalesque.com/SWF_Briefing/?p=17510>Article Link</a> Malaysian sovereign wealth fund Khazanah has appointed Mohammad Faiz Azmi to oversee the restructuring of now delisted Malaysia Airlines into a new company that will be owned by the fund. Azmi will oversee the transfer of the assets and liabilities of MAS, with the new company due to start operating by September. (more…)

]]>
http://www.opalesque.com/SWF_Briefing/?feed=rss2&p=17510
Libya power struggle threatens the fund’s Goldman, SocGen suits http://www.opalesque.com/SWF_Briefing/?p=17502 http://www.opalesque.com/SWF_Briefing/?p=17502#comments Mon, 25 May 2015 00:58:48 +0000 VRS http://www.opalesque.com/SWF_Briefing/?p=17502 <br> <a href=http://www.opalesque.com/SWF_Briefing/?p=17502>Article Link</a> A fight for control of Libya’s $60bn sovereign wealth fund threatens to derail its multibillion dollar lawsuits against Goldman Sachs Group Inc and Societe Generale SA. Since the Libyan Investment Authority’s London law firm quit in April, two competing factions have claimed control, hiring separate lawyers and public relations firms. (more…)

]]>
http://www.opalesque.com/SWF_Briefing/?feed=rss2&p=17502
Dr M accuses Najib of lying when he said S’pore bank had 1MDB cash http://www.opalesque.com/SWF_Briefing/?p=17496 http://www.opalesque.com/SWF_Briefing/?p=17496#comments Mon, 25 May 2015 00:56:51 +0000 VRS http://www.opalesque.com/SWF_Briefing/?p=17496 <br> <a href=http://www.opalesque.com/SWF_Briefing/?p=17496>Article Link</a> Former premier Tun Dr Mahathir Mohamad has accused Prime Minister Datuk Seri Najib Tun Razak of lying when he told Parliament that money held by government investment arm 1Malaysia Development Berhad (1MDB) is being kept in Singapore. (more…)

]]>
http://www.opalesque.com/SWF_Briefing/?feed=rss2&p=17496
Finance Ministry: Dr M’s claims on 1MDB funds “unfounded, unfair” http://www.opalesque.com/SWF_Briefing/?p=17495 http://www.opalesque.com/SWF_Briefing/?p=17495#comments Mon, 25 May 2015 00:56:37 +0000 VRS http://www.opalesque.com/SWF_Briefing/?p=17495 <br> <a href=http://www.opalesque.com/SWF_Briefing/?p=17495>Article Link</a> The claim that Prime Minister Datuk Seri Najib Tun Razak “lied” about 1Malaysia Development Bhd’s funds in Singapore is unfounded and unfair, the Finance Ministry said. Clarifying the matter raised by Tun Dr Mahathir Mohamad in a blog post, the ministry said the written reply by Najib, as Finance Minister, on the finances of 1MDB in BSI Bank, Singapore, was based on information received from 1MDB. (more…)

]]>
http://www.opalesque.com/SWF_Briefing/?feed=rss2&p=17495
Restructuring plans for 1MDB to be tabled next week to Cabinet http://www.opalesque.com/SWF_Briefing/?p=17492 http://www.opalesque.com/SWF_Briefing/?p=17492#comments Fri, 22 May 2015 01:43:40 +0000 VRS http://www.opalesque.com/SWF_Briefing/?p=17492 <br> <a href=http://www.opalesque.com/SWF_Briefing/?p=17492>Article Link</a> 1Malaysia Development Berhad’s (1MDB) restructuring report is expected to be tabled to the Cabinet next week, Second Finance Minister Datuk Seri Ahmad Husni Mohamad Hanadzlah said. He said the restructuring of the alleged debt-ridden government investment arm was possible and he had concrete plans on how to do so. (more…)

]]>
http://www.opalesque.com/SWF_Briefing/?feed=rss2&p=17492
Ahmad Husni: 1MDB’s US$1b assets in BSI Bank was ‘mistaken’ as cash http://www.opalesque.com/SWF_Briefing/?p=17491 http://www.opalesque.com/SWF_Briefing/?p=17491#comments Fri, 22 May 2015 01:43:27 +0000 VRS http://www.opalesque.com/SWF_Briefing/?p=17491 <br> <a href=http://www.opalesque.com/SWF_Briefing/?p=17491>Article Link</a> Second Finance Minister Datuk Seri Ahmad Husni Mohamad says 1Malaysia Development Bhd (1MDB) has made a mistake and misinterpreted the nature of its assets kept in BSI Bank in Singapore. “I feel it was a mistake, a mistake in the nature that it was interpreted when 1MDB said that it had redeemed (US$1.1 billion from Cayman Islands) and kept it in a bank in Singapore,” he told reporters at Parliament lobby. (more…)

]]>
http://www.opalesque.com/SWF_Briefing/?feed=rss2&p=17491
Cash, then assets, 1MDB funds in Singapore now in ‘units’ http://www.opalesque.com/SWF_Briefing/?p=17490 http://www.opalesque.com/SWF_Briefing/?p=17490#comments Fri, 22 May 2015 01:43:15 +0000 VRS http://www.opalesque.com/SWF_Briefing/?p=17490 <br> <a href=http://www.opalesque.com/SWF_Briefing/?p=17490>Article Link</a> 1Malaysia Development Berhad (1MDB) is experiencing “short term” cashflow problem with the ability to pay its debts, said Finance Minister II Datuk Seri Husni Hanadzlah. He assured that the Government would find a solution for the debt-laden government investment arm. (more…)

]]>
http://www.opalesque.com/SWF_Briefing/?feed=rss2&p=17490
Elementum selected as ILS manager for Future Fund of Australia http://www.opalesque.com/SWF_Briefing/?p=17481 http://www.opalesque.com/SWF_Briefing/?p=17481#comments Thu, 21 May 2015 03:40:24 +0000 VRS http://www.opalesque.com/SWF_Briefing/?p=17481 <br> <a href=http://www.opalesque.com/SWF_Briefing/?p=17481>Article Link</a> The Future Fund, an Australian sovereign wealth investor, has selected independent insurance-linked securities (ILS) and reinsurance-linked investment manager Elementum Advisors as its first investment manager to be focused on alternative risk premia. (more…)

]]>
http://www.opalesque.com/SWF_Briefing/?feed=rss2&p=17481
SWFs must grasp ’substantial’ greenfield opportunities http://www.opalesque.com/SWF_Briefing/?p=17478 http://www.opalesque.com/SWF_Briefing/?p=17478#comments Wed, 20 May 2015 03:40:44 +0000 VRS http://www.opalesque.com/SWF_Briefing/?p=17478 <br> <a href=http://www.opalesque.com/SWF_Briefing/?p=17478>Article Link</a> Pension and sovereign wealth funds will in future play a significantly bigger role in building urban spaces in emerging economies, despite the associated regulatory risk, the head of a leading think tank has predicted. (more…)

]]>
http://www.opalesque.com/SWF_Briefing/?feed=rss2&p=17478
Kazakhstan Privatizing Transtelecom http://www.opalesque.com/SWF_Briefing/?p=17468 http://www.opalesque.com/SWF_Briefing/?p=17468#comments Tue, 19 May 2015 03:32:26 +0000 VRS http://www.opalesque.com/SWF_Briefing/?p=17468 <br> <a href=http://www.opalesque.com/SWF_Briefing/?p=17468>Article Link</a> Around 49 percent of the shares in Transtelecom, the large Kazakh communications operating firm, have been sold as part of a new privatization program, the Samruk-Kazyna National Welfare Fund has said, according to Kazinform. (more…)

]]>
http://www.opalesque.com/SWF_Briefing/?feed=rss2&p=17468
Libya’s split SWF: risks torpedoing challenge against Western banks http://www.opalesque.com/SWF_Briefing/?p=17454 http://www.opalesque.com/SWF_Briefing/?p=17454#comments Fri, 15 May 2015 00:08:07 +0000 VRS http://www.opalesque.com/SWF_Briefing/?p=17454 <br> <a href=http://www.opalesque.com/SWF_Briefing/?p=17454>Article Link</a> Rival managements of the $67bn Libyan Investment Authority are set to fight in London courts over claims of Tripoli and Malta. The Libyan Investment Authority’s multi-billion pound claims against Goldman Sachs and Société Générale, both of which underwent pre-trial hearings in late 2014 and are due to go to trial next year, may be undermined by increasingly fractious infighting at the $67bn fund. (more…)

]]>
http://www.opalesque.com/SWF_Briefing/?feed=rss2&p=17454
Kuwait fund staff made ‘deliberately bad’ deals http://www.opalesque.com/SWF_Briefing/?p=17452 http://www.opalesque.com/SWF_Briefing/?p=17452#comments Thu, 14 May 2015 00:26:33 +0000 VRS http://www.opalesque.com/SWF_Briefing/?p=17452 <br> <a href=http://www.opalesque.com/SWF_Briefing/?p=17452>Article Link</a> Kuwait has recalled staff from the London office of its multibillion-pound sovereign wealth fund amid allegations of accounting irregularities and claims that employees deliberately made bad investments. (more…)

]]>
http://www.opalesque.com/SWF_Briefing/?feed=rss2&p=17452
Abu Dhabi removes Jho Low contact http://www.opalesque.com/SWF_Briefing/?p=17343 http://www.opalesque.com/SWF_Briefing/?p=17343#comments Tue, 28 Apr 2015 01:52:49 +0000 VRS http://www.opalesque.com/SWF_Briefing/?p=17343 <br> <a href=http://www.opalesque.com/SWF_Briefing/?p=17343>Article Link</a> The UK-based website Sarawak Report has learnt that Penangite Jho Low’s key contact at Aabar Investments, Abu Dhabi’s sovereign wealth fund, has been removed from the majority of his posts in the Gulf State. (more…)

]]>
http://www.opalesque.com/SWF_Briefing/?feed=rss2&p=17343
Norway to clean up sovereign wealth fund http://www.opalesque.com/SWF_Briefing/?p=17337 http://www.opalesque.com/SWF_Briefing/?p=17337#comments Tue, 28 Apr 2015 01:50:58 +0000 VRS http://www.opalesque.com/SWF_Briefing/?p=17337 <br> <a href=http://www.opalesque.com/SWF_Briefing/?p=17337>Article Link</a> Norway would bar its state pension fund, the world’s biggest sovereign wealth fund, from investing in the worst climate-polluting companies. In its annual white book on managing the fund, the right-wing government proposed to “introduce a new criterion to exclude companies whose conduct to an unacceptable degree entail greenhouse gas emissions.” (more…)

]]>
http://www.opalesque.com/SWF_Briefing/?feed=rss2&p=17337
Khazanah firm on its turnaround plan for MAS http://www.opalesque.com/SWF_Briefing/?p=17334 http://www.opalesque.com/SWF_Briefing/?p=17334#comments Fri, 24 Apr 2015 01:01:48 +0000 VRS http://www.opalesque.com/SWF_Briefing/?p=17334 <br> <a href=http://www.opalesque.com/SWF_Briefing/?p=17334>Article Link</a> Khazanah Nasional Bhd, the owner of Malaysia Airlines, is firm on its decision to reduce the number of the airline’s employees by 6,000 people, even as it gives more time to incoming chief executive officer (CEO) Christoph Mueller to choose his team. The plan to retrench more than 25% of MAS’ workers is being protested by the airline’s workers’ unions. (more…)

]]>
http://www.opalesque.com/SWF_Briefing/?feed=rss2&p=17334
MAS job cuts needed to avoid yet another rescue, says Khazanah http://www.opalesque.com/SWF_Briefing/?p=17333 http://www.opalesque.com/SWF_Briefing/?p=17333#comments Fri, 24 Apr 2015 01:01:25 +0000 VRS http://www.opalesque.com/SWF_Briefing/?p=17333 <br> <a href=http://www.opalesque.com/SWF_Briefing/?p=17333>Article Link</a> The downsizing at Malaysia Airlines Bhd (MAB) cannot be avoided if the new national carrier is to be sustainable, controlling shareholder Khazanah Nasional Bhd said today amid complaints by staff unions. (more…)

]]>
http://www.opalesque.com/SWF_Briefing/?feed=rss2&p=17333
Khazanah says ‘too early to tell’ if MAS revamp will be successful http://www.opalesque.com/SWF_Briefing/?p=17332 http://www.opalesque.com/SWF_Briefing/?p=17332#comments Fri, 24 Apr 2015 01:01:05 +0000 VRS http://www.opalesque.com/SWF_Briefing/?p=17332 <br> <a href=http://www.opalesque.com/SWF_Briefing/?p=17332>Article Link</a> Malaysian state-owned investment arm Khazanah Nasional Bhd managing director Tan Sri Azman Mokhtar said it was still “too early to tell” if loss-making Malaysian Airline System (MAS) would be successfully turned around under its restructuring. (more…)

]]>
http://www.opalesque.com/SWF_Briefing/?feed=rss2&p=17332
Abu Dhabi’s IPIC announces major board revamp http://www.opalesque.com/SWF_Briefing/?p=17328 http://www.opalesque.com/SWF_Briefing/?p=17328#comments Fri, 24 Apr 2015 00:59:45 +0000 VRS http://www.opalesque.com/SWF_Briefing/?p=17328 <br> <a href=http://www.opalesque.com/SWF_Briefing/?p=17328>Article Link</a> The UAE energy minister has been appointed the new managing director of Abu Dhabi investment fund International Petroleum Investment Company (IPIC) in a reshuffle of the board. (more…)

]]>
http://www.opalesque.com/SWF_Briefing/?feed=rss2&p=17328
Samruk Kazyna Plans to Open Subsidiary in Silicon Valley http://www.opalesque.com/SWF_Briefing/?p=17326 http://www.opalesque.com/SWF_Briefing/?p=17326#comments Fri, 24 Apr 2015 00:58:59 +0000 VRS http://www.opalesque.com/SWF_Briefing/?p=17326 <br> <a href=http://www.opalesque.com/SWF_Briefing/?p=17326>Article Link</a> The Samruk Kazyna Sovereign Wealth Fund plans to establish a subsidiary in Silicon Valley, California. A working group consisting of the heads of a number of Samruk Kazyna companies, led by Chairman of the organisation Umirzak Shukeyev, visited companies of Silicon Valley on April 9-10, where they were acquainted with the work of Stanford University, Berkeley, as well as such well-known innovative companies as Tesla Motors, SolarCity and other start-up companies. (more…)

]]>
http://www.opalesque.com/SWF_Briefing/?feed=rss2&p=17326
Norway’s SWF flexes its muscles http://www.opalesque.com/SWF_Briefing/?p=17321 http://www.opalesque.com/SWF_Briefing/?p=17321#comments Thu, 23 Apr 2015 01:14:20 +0000 VRS http://www.opalesque.com/SWF_Briefing/?p=17321 <br> <a href=http://www.opalesque.com/SWF_Briefing/?p=17321>Article Link</a> Norway’s $890bn fund is flexing its muscles in corporate governance matters by revealing it will vote against US power company AES over proxy access. It marks only the second time that the world’s largest sovereign wealth fund has revealed its voting intention ahead of a company’s annual meeting, a tactic that the Norwegian investor is hoping to use more and more in the future writes the FT’s Richard Milne in Oslo. (more…)

]]>
http://www.opalesque.com/SWF_Briefing/?feed=rss2&p=17321
Norway Angers Investors in Pipeline Network http://www.opalesque.com/SWF_Briefing/?p=17306 http://www.opalesque.com/SWF_Briefing/?p=17306#comments Tue, 21 Apr 2015 01:18:43 +0000 VRS http://www.opalesque.com/SWF_Briefing/?p=17306 <br> <a href=http://www.opalesque.com/SWF_Briefing/?p=17306>Article Link</a> One risk the Canada Pension Plan Investment Board didn’t see coming was that the government of Norway, which prides itself on being one of the world’s safest corners for investors, would slash the rates the pipeline can charge for carrying natural gas. (more…)

]]>
http://www.opalesque.com/SWF_Briefing/?feed=rss2&p=17306
IPIC Governance in the Spotlight http://www.opalesque.com/SWF_Briefing/?p=17302 http://www.opalesque.com/SWF_Briefing/?p=17302#comments Tue, 21 Apr 2015 01:17:24 +0000 VRS http://www.opalesque.com/SWF_Briefing/?p=17302 <br> <a href=http://www.opalesque.com/SWF_Briefing/?p=17302>Article Link</a> Sovereign Wealth Center View: It’s been a turbulent week for the International Petroleum Investment Corp. and its chief executive, Khadem al-Qubaisi. On a sunny afternoon in October 2014, the Real Madrid football team strode out onto the pristine turf of the Santiago Bernabéu stadium, its historic home ground. But this was a commercial occasion, not a sporting one — the players were wearing smart suits in place of their usual gleaming white kit. (more…)

]]>
http://www.opalesque.com/SWF_Briefing/?feed=rss2&p=17302
Norway manages its oil wealth better than Alberta http://www.opalesque.com/SWF_Briefing/?p=17297 http://www.opalesque.com/SWF_Briefing/?p=17297#comments Mon, 20 Apr 2015 02:37:20 +0000 VRS http://www.opalesque.com/SWF_Briefing/?p=17297 <br> <a href=http://www.opalesque.com/SWF_Briefing/?p=17297>Article Link</a> Alberta Premier Jim Prentice has stated the worst is yet to hit his province. He is warning that in two years their $16 billion Heritage Oil Fund, that was started around 1976, could be gone. With Alberta’s bubble burst, there is much to learn from the major petroleum producer Norway. (more…)

]]>
http://www.opalesque.com/SWF_Briefing/?feed=rss2&p=17297
Norway oil fund to disclose voting http://www.opalesque.com/SWF_Briefing/?p=17287 http://www.opalesque.com/SWF_Briefing/?p=17287#comments Thu, 16 Apr 2015 01:36:43 +0000 VRS http://www.opalesque.com/SWF_Briefing/?p=17287 <br> <a href=http://www.opalesque.com/SWF_Briefing/?p=17287>Article Link</a> Norway’s $US880 billion oil fund will this week usher in a new era in corporate governance when it begins to disclose in advance how it will vote at companies’ shareholder meetings, in a bid to become a more active investor. (more…)

]]>
http://www.opalesque.com/SWF_Briefing/?feed=rss2&p=17287
Norway oil fund begins policy of revealing how it votes http://www.opalesque.com/SWF_Briefing/?p=17275 http://www.opalesque.com/SWF_Briefing/?p=17275#comments Wed, 15 Apr 2015 01:49:59 +0000 VRS http://www.opalesque.com/SWF_Briefing/?p=17275 <br> <a href=http://www.opalesque.com/SWF_Briefing/?p=17275>Article Link</a> Norway’s $880bn oil fund will on Wednesday usher in a new era in corporate governance when it begins to disclose in advance how it will vote at companies’ shareholder meetings, in a bid to become a more active investor. (more…)

]]>
http://www.opalesque.com/SWF_Briefing/?feed=rss2&p=17275
Govt appoints Future Fund board members http://www.opalesque.com/SWF_Briefing/?p=17274 http://www.opalesque.com/SWF_Briefing/?p=17274#comments Wed, 15 Apr 2015 01:49:46 +0000 VRS http://www.opalesque.com/SWF_Briefing/?p=17274 <br> <a href=http://www.opalesque.com/SWF_Briefing/?p=17274>Article Link</a> The federal government has appointed Carolyn Kay and Jane Wilson as new board members of Australia’s $100 billion sovereign wealth fund. Finance Minister Mathias Cormann said today that Ms Kay and Dr Wilson had been made members of the Future Fund Board of Guardians for the next five years. (more…)

]]>
http://www.opalesque.com/SWF_Briefing/?feed=rss2&p=17274
Deals raise oversight concerns at Abu Dhabi wealth fund http://www.opalesque.com/SWF_Briefing/?p=17261 http://www.opalesque.com/SWF_Briefing/?p=17261#comments Tue, 14 Apr 2015 03:24:23 +0000 VRS http://www.opalesque.com/SWF_Briefing/?p=17261 <br> <a href=http://www.opalesque.com/SWF_Briefing/?p=17261>Article Link</a> The managing director of one of Abu Dhabi’s sovereign wealth funds used his private shell companies to secure deals with businesses closely connected to the fund, raising concerns about corporate governance. Khadem al-Qubaisi, managing director of state-owned International Petroleum Investment Company, used a Luxembourg-based company to take out a lease in Spain’s tallest building, according to documents seen by the Financial Times. (more…)

]]>
http://www.opalesque.com/SWF_Briefing/?feed=rss2&p=17261