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Sovereign Wealth Funds Briefing 06.Jul 2015

Posted on 06 July 2015 by VRS |  Email |Print

China’s sovereign wealth fund China Investment Corp (CIC) is ready to work with the new Chinese-led Asian Infrastructure Investment Bank (AIIB) to invest in projects in the region, a senior official said on Friday.
With a focus on investing in the infrastructure and high-tech sectors this year, among others, Liu Fangyu, the head of the public relations and international cooperation department at CIC, said the fund was ready to support the AIIB where possible. The fund posted a 41 percent fall in its overseas investment returns in 2014 of 5.5 percent, due partly to falling commodity prices and foreign exchange losses incurred from a stronger U.S. dollar………………………………………..Full Article: Source

Posted on 06 July 2015 by VRS |  Email |Print

China’s sovereign wealth fund, China Investment Corp, has shifted its exposure “moderately” from sovereign bonds to equities and is pursuing infrastructure investments in developed countries, according to its chairman. CIC released its 2014 annual report on Friday, revealing a 5.47 per cent return on its investments last year, down from 9.33 per cent in 2013. The fund was established in September 2007 and has some $740bn under management.
CIC’s net income rose 2.5 per cent to $89.1bn. Its largest portfolios are the controlling stakes it holds on behalf of the government in the country’s five largest banks. “In 2014 we moderately increased our exposure to equities and reduced it to sovereign bonds,” Ding Xuedong said in the report, adding that CIC saw “abundant opportunities for investment in the upgrading, rebuilding and privatising of infrastructure in developed countries”……………………………………….Full Article: Source

Posted on 06 July 2015 by VRS |  Email |Print

China Investment Corp., the nation’s $740 billion sovereign wealth fund, said returns on its overseas investments fell for a second year as a strong dollar and weak commodity prices eroded the value of its portfolio.
The return dropped to 5.47 percent last year from 9.33 percent a year earlier, according to the Beijing-based company’s 2014 annual report released Friday. Net income at the fund, which holds government stakes in China’s biggest banks, rose 2.5 percent to $89.1 billion, the report showed………………………………………..Full Article: Source

Posted on 06 July 2015 by VRS |  Email |Print

China’s sovereign wealth fund China Investment Corp. (CIC) earned a lower return on its overseas investment last year at 5.47 percent, it said on Friday. At its annual earnings briefing, CIC said it posted a net profit of $89.1 billion last year, up 2.5 percent from the $86.9 billion earned in 2013. The fund recorded a 9.3 percent return on its overseas investment in 2013.
Founded in 2007 to help China earn a higher return on its huge foreign exchange reserves, CIC invested about 30 percent of its assets - or $200 billion - in overseas markets last year. At the end of the first quarter, China had $3.73 trillion in reserves………………………………………..Full Article: Source

Posted on 06 July 2015 by VRS |  Email |Print

Sovereign wealth fund China Investment Corp (CIC) saw its total assets soar by US$93 billion (S$125 billion) to nearly US$750 billion last year, it said Friday, although subdued global growth slowed returns on its overseas portfolio.
CIC was created in 2007 with US$200 billion to make better use of China’s colossal foreign exchange reserves, which amounted to US$3.73 trillion this March. Its total assets expanded to US$746.73 billion by the end of 2014, an increase of US$93.5 billion, CIC said in its annual report………………………………………..Full Article: Source

Posted on 06 July 2015 by VRS |  Email |Print

Assets at sovereign wealth fund China Investment Corp grew by US$93 billion to nearly US$750 billion last year, it reported, although subdued global growth slowed returns on its overseas portfolio. CIC was created in 2007 with US$200 billion to make better use of foreign exchange reserves, which have grown to US$3.73 trillion as of March this year.
Its total assets expanded to US$746.73 billion by the end of 2014, an increase of US$93.5 billion, CIC said in its annual report. But returns on the overseas portfolio dropped to 5.47 percent, down from 9.33 percent in 2013 and the weakest since 2011, according to the document. “During 2014, the global economy recovered at a slower speed than expected,” Ding Xuedong, chairman and chief executive officer of CIC, said in the report………………………………………..Full Article: Source

Posted on 06 July 2015 by VRS |  Email |Print

China Investment Corporation (CIC), the sovereign wealth fund, reported a huge net profit increase in 2014 in the company’s annual report, released Friday. Net profits hit 89.1 billion U.S. dollars last year, 2 billion dollars more than the previous year.
CIC branches abroad reported a net investment profit margin of 5.47 percent in 2014, lower than the annual average rate of 5.66 percent registered since the founding of the company in 2007. The company’s total assets surpassed 740 billion U.S. dollars, according to the report………………………………………..Full Article: Source

Posted on 06 July 2015 by VRS |  Email |Print

Temasek Holdings Pte rode a rally in global equities with a focus on developed markets that probably helped the Singapore state-owned investor’s assets reach a record. Assets at the firm, which releases results this week, may have increased 16 percent to 18 percent to as much as S$263 billion ($195 billion) in the year to March 31, according to estimates by Institutional Investor’s Sovereign Wealth Center and CMC Markets. That would be the biggest jump in assets in five years and surpass last year’s all-time high of S$223 billion.
“They had a great year for their equity investments,” said Nicholas Teo, a Singapore-based strategist at CMC Markets who has been following Temasek’s annual results over the last 10 years. “It shows how aggressive their investment style is compared to other state investors.”……………………………………….Full Article: Source

Posted on 06 July 2015 by VRS |  Email |Print

Korea Investment Corporation’s total assets under management are expected to surpass $100 billion by the end of 2015, says the sovereign wealth fund’s president and CEO. The fund intends to increase the proportion of its investment in alternative assets from the current 8% to 15% by the end of this year, with the intention of maintaining a high return profile for the fund.
Eventually the alternative proportion will be increased to 20% within five years. Hong-Chul ‘Hank’Ahn, KIC’s CEO & president, said the alternative investments structure and portfolio assets will be similar to those of the Yale University endowment, CalPERS and the Canada Pension Plan Investment Board. Although CalPERS has moved to lower its exposure to alternatives this year, the aforementioned institutions have typically held around 20% of their assets in alternative strategies……………………………………….Full Article: Source

Posted on 06 July 2015 by VRS |  Email |Print

Zimbabwe’s former central bank governor Kombo Moyana has been appointed as board chair of the country’s Sovereign Wealth Fund. President Robert Mugabe last year signed into law a bill to set up the fund, meant to secure investments for future generations and support economic growth.
The other board members are banker, Nicholas Vingirayi; Zimtrade chief executive, Sithembile Pilime and former deputy governor of the central bank, Nicholas Ncube. Zimbabwe plans to fund its SWF by allocating a quarter of royalties and special dividends earned on minerals such as diamonds, gold and platinum. Analysts have however warned that a great deal of transparency is required if the country is to benefit from the fund………………………………………..Full Article: Source

Posted on 06 July 2015 by VRS |  Email |Print

The Tesla American electric car company has been given a tremendous amount of money to help fund its startup. Apparently, the move to electric cars makes a lot of sense because it helps us remove ourselves from the dependence on foreign oil. But maybe those nations that are in the Middle East are hedging their bets, as the Abu Dhabi Sovereign Wealth Fund invested heavily in its US car company Tesla electric motors.
In this case, we are stimulating wealthy Arabs, yet at the same time we claim that we are removing ourselves from their dependence. Kind of silly when you think about it, and yet, we have free trade policies in the United States that allow foreign investment, and that makes sense, however with the same company gets stimulus money, it doesn’t quite make sense………………………………………..Full Article: Source

Posted on 06 July 2015 by VRS |  Email |Print

Norway’s oil fund came under attack from several of Sweden’s largest investors over concerns that the world’s biggest sovereign wealth fund is not applying rigorous oversight to the companies it invests in.
The criticism levelled at Norges Bank Investment Management (NBIM), which manages the oil fund’s $912 billion (Dh3.34 trillion) of assets, comes in response to its perceived indifference to one of the biggest financial scandals in Sweden in recent history. The scandal, which has tarnished Sweden’s image as a haven for ethical business practices, revealed corruption around expense claims and the misuse of corporate jets at SCA, the paper company………………………………………..Full Article: Source

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