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Sovereign Wealth Funds Briefing 29.Jul 2016

Posted on 29 July 2016 by VRS |  Email |Print

The New Mexico State Investment Council plans to invest $193m (€174.5m) in non-core real estate in 2017. The investor’s annual investment plan was approved at a board meeting this week.
New Mexico State said it had already committed sufficient capital to core open-ended funds and was looking to round out its portfolio with value-added funds. The sovereign wealth fund is looking to invest the capital on a global basis………………………………………..Full Article: Source

Posted on 29 July 2016 by VRS |  Email |Print

Alaska’s $53 billion wealth fund plans to exit all of its funds of hedge funds and will instead make investment decisions in-house. Alaska Permanent Fund Corp. plans to pull all of the $2 billion it has invested in liquid assets across Crestline Investors, Mariner Investment Group and Lazard Asset Management, according to Marcus Frampton, its director of private markets.
Alaska will instead rely on its own five-person alternatives team to select hedge funds. “We’ve decided to move to a 100 percent direct program,” Frampton said……………………………………….Full Article: Source

Posted on 29 July 2016 by VRS |  Email |Print

The Hong Kong Monetary Authority on Thursday warned the public to be aware of risks arising from market uncertainties after the US Federal Reserve decided not to raise interest rates in its meeting overnight.
“The US Federal Reserve did not give any indication on when it would increase the interest rate again. We believe this is because the US economy and international financial markets remain full of uncertainties,” the local central bank spokesman said in a statement……………………………………….Full Article: Source

Posted on 29 July 2016 by VRS |  Email |Print

A Qatari company just gave Singapore’s state investor a solid clue about what to do with its outsize holdings of the island’s telcos: sell, and run.Ooredoo QSC, the Doha-based phone carrier, is working with HSBC to find a buyer for its indirect stake of about 14 percent in Singapore’s StarHub, Bloomberg News reported this week.
The reason why Ooredoo may want out — to focus on the Middle East and other fast-growing markets — has a message for Singapore’s Temasek, which for the fiscal year ended March 31 saw its assets shrink for the first time in seven years………………………………………..Full Article: Source

Posted on 29 July 2016 by VRS |  Email |Print

The world’s biggest alternative investment manager, and Singapore’s sovereign wealth fund look at a $1 billion India real estate deal, while Wanda makes progress on its Hong Kong privatisation plan, while spending some pocket millions on a new web platform. Read on for all these stories and more.
Blackstone, GIC of Singapore and a consortium of sovereign wealth funds from Abu Dhabi and Qatar have advanced in the process to buy a $1-billion stake in the commercial property unit of DLF, people directly familiar with the matter said………………………………………..Full Article: Source

Posted on 29 July 2016 by VRS |  Email |Print

Singapore’s multibillion-dollar sovereign wealth fund GIC yesterday reported a substantial dip in returns and warned of “difficult” global investment conditions over the next decade. The fund said in a statement its annualized rate of return, excluding global inflation, for the past 20 years fell to 4 percent in the year to March, from 4.9 percent last year, adding that future returns would be challenged by uncertainties caused by a low-yield environment.
“These difficult investment conditions can stretch for the next 10 years,” deputy group president and chief investment officer Lim Chow Kiat said………………………………………..Full Article: Source

Posted on 29 July 2016 by VRS |  Email |Print

Several nations have reigned in excessive credit growth. According to Bloomberg, in an environment of diminishing returns, emerging economies are offering better opportunities for investors compared with last year, Singapore’s sovereign wealth fund GIC Pte said.
Several emerging nations have reigned in excessive credit growth, Lim Chow Kiat, GIC’s group chief investment officer and deputy group president, said in an interview. They are also seeing adjustments to their exchange rates and lower asset prices as foreign investors have withdrawn capital, he said, adding that he’s positive on India while more reforms are needed in China………………………………………..Full Article: Source

Posted on 29 July 2016 by VRS |  Email |Print

On 22 June 2015, Xavier Justo, a 48-year-old retired Swiss banker, walked towards the front door of his brand new boutique hotel on Koh Samui, a tropical Thai island. He had spent the past three years building the luxurious white-stone complex of chalets and apartments overlooking the shimmering sea and was almost ready to open for business. All he needed was a licence.
Justo had arrived in Thailand four years earlier, having fled the drab world of finance in London. In 2011, he and his girlfriend Laura toured the country on a motorbike and, two years later, they got married on a secluded beach………………………………………..Full Article: Source

Posted on 29 July 2016 by VRS |  Email |Print

The United States Department of Justice has filed a lawsuit against some individuals accused of using an investment firm owned by the Malaysian government to steal more than $1 billion.
The lawsuit also mentioned a certain “Malaysian Official 1,” prompting many to ask if it refers to Prime Minister Najib Razak since he has control over the 1Malaysian Development Berhad (1MDB) investment firm and his stepson is one of the accused. The lawsuit aims to recover some 17 assets in the United States, which have been allegedly acquired through 1MDB funds………………………………………..Full Article: Source

Posted on 29 July 2016 by VRS |  Email |Print

Shearman & Sterling LLP has become embroiled in the US Department of Justice’s largest asset forfeiture case yet connected to the 1Malaysia Development Berhad (1MDB) controversy.
In a scandal that has gripped Malaysia and is seeing investigations commenced in a number of countries including the US and Switzerland, people close to beleaguered Malaysian Prime Minister Najib Razak are alleged to have stolen billions of dollars from the Malaysian sovereign wealth fund………………………………………..Full Article: Source

Posted on 29 July 2016 by VRS |  Email |Print

Mubadala will immediately acquire a 9.9% stake with a further 10.01% to follow after obtaining regulatory approvals. Bahraini investment manager Investcorp on Thursday said it had agreed to sell a 20% stake to Mubadala Development Co., a sovereign-wealth fund tasked with diversifying Abu Dhabi’s economy.
Under the terms of the transaction, Mubadala will immediately acquire a 9.9% stake in Investcorp and another 10.01% stake after obtaining regulatory approvals. No financial details were disclosed………………………………………..Full Article: Source

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