Mon, Apr 21, 2014
A A A
Welcome sandeep.kottawar@wns.com
RSS
Sovereign Wealth Funds Briefing 29.Oct 2008

Posted on 29 October 2008 by VRS |  Email |Print

From Reuters: The United States would welcome investment from sovereign wealth funds as it grapples with the impact of the global financial crisis on its economy, Deputy U.S. Treasury Secretary Robert Kimmitt said on Tuesday.

Kimmitt is on a five-country swing through the Gulf Arab region to drum up investment in the ailing U.S. economy….. Full Article: Source

Posted on 29 October 2008 by VRS |  Email |Print

From IHT: Asian sovereign wealth funds may become more active closer to home, shoring up markets as emerging economies turn to their deep pockets to steer around the damaging effects of the global market turmoil, analysts say.

Bets on Western banks like Citigroup and UBS - where the funds pumped in billions of dollars during the early phase of the credit crisis - have shown few signs of paying off….. Full Article: Source

Posted on 29 October 2008 by VRS |  Email |Print

From Arabianbusiness.com: Cash-rich sovereign wealth funds (SWFs) are expected to grow their assets under management by 15 percent a year, amassing a massive $10 trillion in assets by 2015, Deutsche Bank said in a report published on Tuesday.

The German bank said assets under management currently stand at around $3.6 trillion. Deutsche Bank said growth will be driven by hydrocarbon reserves, current account and government surpluses and receipts from the sale of commodities, which the bank described as a “formidable source from which governments can theoretically feed their state-owned funds”….. Full Article: Source

Posted on 29 October 2008 by VRS |  Email |Print

From Financialnews.com: The amount of money being invested in financial companies by sovereign wealth funds has hit an all-time high this year, according to new research, as state-owned investment vehicles continue to see value in struggling western banks despite some heavy paper-losses on deals to date.

The value of finance-targeted investment from SWFs so far this year has reached $31.3bn (€25bn), according to data provider Dealogic. The figure is almost three times the value of $12.7bn at the same time last year and is the highest year-to-date value on record….. Full Article: Source

Posted on 29 October 2008 by VRS |  Email |Print

From Theaustralian.news.com.au: The chairman of the Future Fund, the Australian SWF, says the Rudd Government has “no hope” of finding a planned $41 billion for its infrastructure, health and education investment funds in the short term.

“I don’t know the timing, but on a cyclical basis there’s no way those sort of surpluses will be available to any Australian government,” David Murray said yesterday….. Full Article: Source

Posted on 29 October 2008 by VRS |  Email |Print

From Gasandoil.com: Oil-rich Norway is pushing ahead with plans to use part of its EUR 312 bn sovereign wealth fund to invest in renewable energy development, a deputy finance has minister said.

The idea to divide the wealth fund, officially named the Government Pension Fund — Global, and siphon off part of it to invest in environmental projects has been criticised by Norway’s central bank, which runs the fund for the government….. Full Article: Source

Posted on 29 October 2008 by VRS |  Email |Print

From Gulfnews.com: Dubai An inward shift in investments by Gulf wealth funds will impact the global financial system, according to an economist.

Philippe Dauba-Pantan-acce, senior economist for MENA and global markets with Standard Chartered Bank, said that sovereign wealth funds of the Gulf Cooperation Council (GCC) countries that have been investing internationally are beginning to consider internal investments….. Full Article: Source

Posted on 29 October 2008 by VRS |  Email |Print

From FT: Will the largest US banks spend or hoard the $125bn made available by a plucky sovereign wealth fund?

Unlike its Asian and Middle Eastern peers, the new entrant in the game of throwing money at the battered financial sector has not cloaked its identity in a three-letter acronym, opting for the more streamlined “US Treasury”. Like CIC (China Investment Corporation), KIA (Kuwait Investment Authority) and QIA (Qatar … you get the idea), it has attached conditions to its disbursement of taxpayers’ money….. Full Article: Source

Posted on 29 October 2008 by VRS |  Email |Print

From Khaleejtimes.com: Abu Dhabi Investment Co., the government-controlled fund manager with more than $2 billion in assets, plans to start equity funds as it looks to manage more third-party money.

The open-ended funds, to be seeded with some capital from ADIC, will focus on the Middle East and North Africa and will be started in the first quarter of 2009, Mohammed Al Hashemi, executive director of asset management at ADIC, said in an interview in London on Tuesday….. Full Article: Source

Posted on 29 October 2008 by VRS |  Email |Print

From Eyeofdubai.com: Regional investment funds with $1.25 trillion in assets strike cautious note as money managers head to Dubai summit.

Arabian Gulf investment funds - managing asset portfolios worth over $1.25 trillion before the global market slowdown - are taking a more cautious approach in their future investment strategies, according to leading industry observers….. Full Article: Source

Posted on 29 October 2008 by VRS |  Email |Print

From Eng.24.kg: Kyrgyzstan is holding a $1 billion gold and foreign currency reserve, Abdybaly tegin Suerkul, deputy chairman of the Kyrgyz National Bank said during the session of parliament committee on energy, budget and finance on Tuesday, October 28, 2008.

“Today the Kyrgyzstan’s reserves make $1.2 billion, which is about 40 billion KGS according to the current exchange rates. One third of this amount is kept in Euro, about 29-30 percent is kept in U.S. dollars and another 40 percent are kept in various currencies and precious metals….. Full Article: Source

Posted on 29 October 2008 by VRS |  Email |Print

From Middle-east-online.com: The opportunities for more cross-border GCC investments within the MENA region itself, as well as other emerging market regions, could be a good strategic response to the growing scrutiny over SWF investment in Western markets, says Alessandro Bruno.

True “sustainable” investment has at least three dimensions: economic, environmental, and social. With the conspicuous exception of Norway’s Government Pension Fund – Global, Sovereign Wealth Funds (SWFs) have paid relatively little attention to the latter two dimensions….. Full Article: Source

Posted on 29 October 2008 by VRS |  Email |Print

From Guardian: Gordon Brown will this weekend call on China and oil-producing countries in the Gulf to pump hundreds of billions of dollars into the International Monetary Fund to prevent the global financial “contagion” from destroying vulnerable economies.

As the IMF finalises plans to shore up the Hungarian and Ukrainian economies with combined loans of $29bn, the prime minister will make clear that more needs to be done to ensure the fund can step in to help struggling economies….. Full Article: Source

Posted on 29 October 2008 by VRS |  Email |Print

From Rgemonitor.com: Since last June Russia has been one of the hardest hit countries in the emerging world. The stock market has plunged, capital has flown out of the country and inflows have stopped.

A liquidity crisis in the domestic banking sector emerged and even corporate giants in the energy sector have begun to have difficulties in refinancing or even repaying their debts….. Full Article: Source

Posted on 29 October 2008 by VRS |  Email |Print

From Sify: Given China’s huge international reserves at $1.9 trillion, it can maintain its own stability, but it can also help developed countries overcome the crisis. Is it ready to offer the money? And will anyone take it?

China’s dependence on exports is not as heavy as may seem at first glance. Officially, exports account for 37 per cent of its revenues and seem to be the driver of the Chinese economy….. Full Article: Source

Posted on 29 October 2008 by VRS |  Email |Print

From Guardian.co.uk: Gordon Brown tonight received the backing of French president Nicolas Sarkozy for a substantial increase in the resources available to the International Monetary Fund to stop the “financial contagion” from spreading around the world.

The two EU leaders said they wanted to work together to ensure a coordinated response to the financial crisis….. Full Article: Source

Posted on 29 October 2008 by VRS |  Email |Print

From Oxfordir.org.uk: The news moves fast during times of crisis. French President Sarkozy called for a more aggressive French sovereign wealth fund (SWF) to protect domestic institutions from foreign investment just a week ago.

But in the midst of all this, it’s worth pausing a moment to think about how far SWFs have come. While some of the funds themselves have been around much longer, the term was invented just a few years ago and only more recently have the funds captured wider attention….. Full Article: Source

Posted on 29 October 2008 by VRS |  Email |Print

From Business24-7.ae: The Abu Dhabi National Energy Company (Taqa), a semi-sovereign wealth fund controlled by the government, is pushing ahead with ambitious plans to lift its investment portfolio by nearly $39 billion (Dh143.24bn) within four years, its chief executive has said.

Peter Barker-Homek said the company is in control of a massive portfolio worth nearly $21bn and the next investment strategy would focus on the Middle East, India, Pakistan, North Africa, Europe and North America….. Full Article: Source

Posted on 29 October 2008 by VRS |  Email |Print

From Bjreview.com.cn: Despite the global credit crunch, China increased its U.S. Treasury bonds holdings to $541 billion by the end of August, making it the second largest holder of U.S. government debt.

China bought $22.3 billion in U.S. Treasury bonds in August alone, the biggest single month accumulation this year, according to the U.S. Treasury Department….. Full Article: Source

See more articles in the archive

banner
banner
April 2014
M T W T F S S
« Mar    
 123456
78910111213
14151617181920
21222324252627
282930