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Sovereign Wealth Funds Briefing 21.Nov 2014

Posted on 21 November 2014 by VRS |  Email |Print

Qatar’s sovereign-wealth fund, which controls more than $100 billion of assets, said the slump in crude prices won’t lead to a change in its investment plans. “We’ve been created to avoid the volatility in oil price,” Ahmed Al-Sayed, chief executive officer of the Qatar Investment Authority, told reporters in Doha today. “We are already adjusted and ready for such a scenario.”
Qatar, the richest country in the world on a per-capita basis, has deployed surplus income from liquefied natural gas exports into real estate, banks, and automakers………………………………….Full Article: Source

Posted on 21 November 2014 by VRS |  Email |Print

Volatile oil prices will not force the Qatar Investment Authority (QIA) to change its investment strategy, the sovereign wealth fund’s chief executive said on Thursday. A plunge in prices - benchmark Brent crude fell to more than a four-year low of below $77 per barrel last week - is hitting the finances of Gulf Arab oil exporting countries, which rely on crude and gas sales for most of state revenue.
“In QIA, we have a long-term strategy, which accounts for the volatility in the market,” Ahmed al-Sayed told reporters on the sidelines of the industry conference in Doha. “We are adjusted and ready for such a scenario.” Asked whether there will be a short-term adjustment, he told a news conference: “No, I don’t think so. We evaluate the market from time to time.”…………………………………Full Article: Source

Posted on 21 November 2014 by VRS |  Email |Print

Qatar’s sovereign wealth fund plans to invest up to $20bn in “Greater Asia” over the next five years as part of portfolio diversification, said Qatar Investment Authority chief executive officer, HE Ahmed al-Sayed.
“In the region we plan to invest (initially) between $15bn and $20bn… it could be more… it could be less. It depends on the time. The timing and market situation will govern our final decision to execute investments. But we have a good appetite. That will give us good diversification of our portfolio as a global fund,” al-Sayed, also the Minister of State told reporters on the sidelines of the 6th annual meeting of the International Forum of Sovereign Wealth Funds (IFSWF) at the Ritz-Carlton………………………………….Full Article: Source

Posted on 21 November 2014 by VRS |  Email |Print

Qatar is interested in investing billions of dollars in infrastructure around the north of England, the Financial Times reported on Tuesday. The report claimed the Qatari royal family has informed British ministers it is interested in investing in infrastructure opportunities around the new HS2 high-speed rail line, which will link London to Birmingham, then Leeds and Manchester.
The opportunity was discussed last month when the Emir, Sheikh Tamim bin Hamad Al Thani, met with British Prime Minister David Cameron. “The Prime Minister … encouraged the Emir to consider more opportunities across the country, particularly the government’s plan to establish a Northern Powerhouse by connecting our great Northern cities and the development of high speed rail,” a statement issued after the Emir’s visit said………………………………….Full Article: Source

Posted on 21 November 2014 by VRS |  Email |Print

Sovereign wealth funds (SWFs) are not likely to be influenced by the current fall of oil prices, chairman of the International Forum for Sovereign Wealth Funds (IFSWF) Bader Al-Saad said on Thursday. SWFs mostly depend on long-term investments and do not react to a rise or fall of goods prices,, Al-Saad told KUNA on the sidelines of the Sixth IFSWF that kicked off in Doha earlier today.
Many countries are affected by the changes of oil prices, like the Gulf Arab States, just as others are impacted by the fluctuations major goods, Al-Saad said. He noted that Asian countries are hit by the slowdown of the global economy since they export to the US and Europe………………………………….Full Article: Source

Posted on 21 November 2014 by VRS |  Email |Print

Volatile oil prices will not force the Qatar Investment Authority (QIA) to change its investment strategy, the sovereign wealth fund’s chief executive said on Thursday. A plunge in prices - benchmark Brent crude fell to more than a four-year low of below $77 per barrel last week - is hitting the finances of Gulf Arab oil exporting countries, which rely on crude and gas sales for most of state revenue.
“In QIA, we have a long-term strategy, which accounts for the volatility in the market,” Ahmed al-Sayed told reporters on the sidelines of the industry conference in Doha. “We are adjusted and ready for such a scenario.” Asked whether there will be a short-term adjustment, he told a news conference: “No, I don’t think so. We evaluate the market from time to time.”…………………………………Full Article: Source

Posted on 21 November 2014 by VRS |  Email |Print

World’s leading sovereign wealth funds (SWFs) yesterday unanimously agreed upon a “Doha Agreement”, adopting a three-year strategic plan to ensure free flow of long-term global capital and strong real returns for the progeny; even as they asked recipient countries to be more transparent.
Moreover, 21 more countries are planning to establish SWFs; these were disclosed by the International Forum of SWFs (IFSWF), which held its sixth annual meeting here, hosted by the Qatar Investment Authority (QIA). The strategic plan, agreed by IFSWF, seeks to leverage those strengths to work towards becoming an important global reference on the governance, investment and operational practices of IFSWF-member SWFs………………………………….Full Article: Source

Posted on 21 November 2014 by VRS |  Email |Print

Members of the International Forum of Sovereign Wealth Funds (IFSWF) signed “The Doha Agreement” at their sixth annual meeting in the Qatari capital on Thursday. The Doha Agreement guarantees IFSWF’s independency, legal personality, independent budget, and headquarters in London, UK, after being affiliated with the International Monetary Fund (IMF).
“I am pleased that this year’s event has achieved concrete steps toward delivering on a three-year strategy which we believe will have value for our members and for global markets more broadly,” Bader Al-Saad, IFSWF Chair and CEO of Kuwait Investment Authority (KIA) said during the meeting, according to a press release by IFSWF………………………………….Full Article: Source

Posted on 21 November 2014 by VRS |  Email |Print

The International Forum of Sovereign Wealth Funds (IFSWF) will not invite central banks to join its ranks as they do not fit the group’s definition of such a fund, a board member said on Thursday.
The forum, a grouping founded with International Monetary Fund backing that promotes a voluntary code of practice, said in September it would explore whether to take in a wider pool of state-backed investors including central banks………………………………….Full Article: Source

Posted on 21 November 2014 by VRS |  Email |Print

Sovereign Wealth Funds (SWFs) play a vital role in providing small and medium-sized enterprises (SMEs) improved access to risk capital, which could help contribute to job generation and sustained growth, a World Bank official said.
Michel Noel, manager, Non-Bank Financial Institutions of the World Bank, made the statement during a special luncheon address at the 6th Annual Meeting of the International Forum of Sovereign Wealth Funds (IFSWF) held yesterday at the Ritz-Carlton Doha………………………………….Full Article: Source

Posted on 21 November 2014 by VRS |  Email |Print

The Russian Direct Investment Fund (RDIF) is representing Russia at the International Forum of Sovereign Wealth Funds (IFSWF) - an organisation that brings together the world’s leading sovereign wealth funds and government-run pension funds.
During the meeting, currently taking place in Doha (Qatar), senior executives of 28 sovereign wealth funds signed agreements and in doing so concluded the process of establishing the IFSWF as an independent professional association. Due to the growing influence of sovereign wealth funds on the global economy and their investment activities not being politically driven, the IFSWF became independent from the International Monetary Fund………………………………….Full Article: Source

Posted on 21 November 2014 by VRS |  Email |Print

The $10 billionRussian Direct Investment Fund is funneling more Chinese and Middle Eastern money into Russia’s ailing economy, partly compensating for a decline in Western-led activity in the face of geopolitical tensions.
Since its formation four years ago, the Russian state investment fund has invested $7.3 billion in Russia’s economy. It plans to continue at a similar pace with total annual investments of around $2 billion, of which up to a fifth will be marked for transactions abroad, Chief Executive Kirill Dmitriev said in an interview………………………………….Full Article: Source

Posted on 21 November 2014 by VRS |  Email |Print

Deputy Finance Minister Ahmad Maslan revealed today that 1Malaysia Development Berhad (1MDB) had spent a total of RM382.3 million on social initiatives, making it the biggest contributor among state-owned companies. In an attempt to deflect the bad publicity the government investment firm has been getting in the past months, Ahmad appealed to the public to look at the fund’s “positive” efforts.
“Be fair to 1MDB. Don’t only be cynical. Look at it positively,” he said at a press conference in Parliament. Topping the list in 1MDB’s corporate social responsibility drive is the annual haj pilgrimage, for which the sovereign wealth fund had spent RM28.2 million since 2011………………………………….Full Article: Source

Posted on 21 November 2014 by VRS |  Email |Print

Temasek Holdings has invested in a Washington-based start-up which uses artificial intelligence to predict the outcome of legislation. According to The Washington Post, FiscalNote has closed a US$7 million round of funding from a raft of big names, including the Singapore sovereign wealth fund and the Winklevoss twins, famous for their lawsuits against Facebook and its founder, Mark Zuckerberg.
FiscalNote, founded by a Potomac entrepreneur, uses data-mining software and artificial intelligence to predict the fate of Bills proposed by state legislatures and Congress each year. The company claims 94 per cent accuracy………………………………….Full Article: Source

Posted on 21 November 2014 by VRS |  Email |Print

Refurbished goods retailer Reverse Logistics Corps, which owns and operates GreenDust.com, is in talks with global hedge funds and wealth funds to raise about $125 million (Rs 772 crore) in another round of funding. Among those the Delhi-based company is talking to for Series B capital are Temasek, the sovereign investment arm of the government of Singapore, and hedge fund Falcon Edge Capital, according to two persons privy to the development.
Separately, two Middle Eastbased sovereign funds and a Far East-based family office are also believed to be in the running to buy a stake in GreenDust, a transaction that could potentially value the company at between $375 million (Rs. 2,300 crore) and $400 million (Rs 2,470 crore). GreenDust founder Hitendra Chaturvedi and Temasek spokesperson Stephen Foreshaw declined to comment on the developments. An email query sent to Falcon Edge Capital remained unanswered till as of press time. …………………………………Full Article: Source

Posted on 21 November 2014 by VRS |  Email |Print

Former treasurer Peter Costello has defended the Future Fund’s investment decisions during a sometimes feisty Senate estimates hearing in Canberra. Mr Costello, who is the chairman of the fund, was questioned about why the fund continued to invest in fossil fuels given its decision to stop investing in tobacco companies.
Mr Costello said the fund concluded that no amount of tobacco was safe and its decision to divest those shares would not affect other investment decisions.”I think it would be extraordinary if the government of Australia in its sovereign wealth fund said it was going to pull out of coal or gas or oil,” he said………………………………….Full Article: Source

Posted on 21 November 2014 by VRS |  Email |Print

Alaska Permanent Fund Corp., Juneau, returned -1.2% for the quarter ended Sept. 30, slightly above its benchmark return of -1.6%, said a news release from the $50.7 billion sovereign wealth fund.
The top performer was private equity, which returned 5.4%; followed by infrastructure, 3.8%; non-U.S. bonds, 1.8%; real estate, 0.2%; absolute return, 0.1%; U.S. bonds, -0.2%; U.S. equity and outsourced CIO allocations, -0.9% each; private markets outsourced CIO allocations, -2.1%, global equity, -2.8%; multiasset emerging markets, -4.2%; international equity, -5.4%; and “true special opportunities,” -5.5%………………………………….Full Article: Source

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