Sun, Sep 21, 2014
A A A
Welcome sandeep.kottawar@wns.com
RSS
Sovereign Wealth Funds Briefing 02.Feb 2009

Posted on 02 February 2009 by VRS |  Email |Print

From Aawsat.com: The United Arab Emirates should spend part of its sovereign wealth fund to revive the economy and must delay property projects as demand vanishes, the head of its advisory council said on Saturday. Abdul Aziz al-Ghurair, speaker of the Federal National Council (FNC) which advises the rulers, also said the government must inject more liquidity to boost the economy but banks were sound due to their high capital adequacy ratios.

The UAE is home to the world’s biggest sovereign wealth fund as the Gulf nation has kept massive oil windfall revenues to preserve wealth for the future generation. Analysts estimates assets at the Abu Dhabi Investment Authority are worth around $500 billion….. Full Article: Source

Posted on 02 February 2009 by VRS |  Email |Print

From Straitstimes.com: The Government of Singapore Investment Corporation (GIC) is confident that it will be able to continue generating reasonable returns for the country’s reserves despite a tougher global investment climate.

But the investment manager must continue to manage its investments carefully and cautiously, diversify its portfolio intelligently and manage risks well, said its deputy chairman and executive director Tony Tan. …. Full Article: Source

Posted on 02 February 2009 by VRS |  Email |Print

From Adn.com: Lawmakers are again considering legislation that would require the Alaska Permanent Fund Corp. to divest itself of investments in Sudan because of the violence in Darfur.

Three bills have been introduced this year, including one from Gov. Sarah Palin. They were heard in the House State Affairs Committee last week. Revenue Commissioner Pat Galvin says the governor’s bill addresses some concerns that Permanent Fund officials had with similar legislation last year. Galvin is also a member of the Permanent Fund board….. Full Article: Source

Posted on 02 February 2009 by VRS |  Email |Print

From Bloomberg: Institutional investors, including sovereign wealth funds, may play a bigger role in stabilizing the global financial system as leveraged banks and hedge funds stumble, the Government of Singapore Investment Corp. said.

“With many key debt and equity real estate markets pushed to extreme under-valuations, institutional investors like pension funds and SWFs will play an important role in the stabilization and eventual recovery of asset markets,” said Tony Tan, deputy chairman and executive director of GIC….. Full Article: Source

Posted on 02 February 2009 by VRS |  Email |Print

From Reuters: Norway’s $300 billion (210 billion pounds) plus sovereign wealth fund has excluded U.S. weapons producer Textron and Canadian mining group Barrick Gold for ethical reasons.

The finance ministry said on Friday Textron was ejected from the fund, one of the world’s biggest investors, because it produced cluster munitions….. Full Article: Source

Posted on 02 February 2009 by VRS |  Email |Print

From Reuters: A senior Singapore politician said on Sunday the government would dip into the country’s reserves only in times of crisis and not use them to support welfare programmes.

“As a general principle, the government must continue to fund such programmes out of revenues raised in the current term of government, not past reserves,” former Prime Minister Goh Chok Tong said at a community event….. Full Article: Source

Posted on 02 February 2009 by VRS |  Email |Print

From Zawya.com: The Kuwait Stock Exchange ended its six-week-long bearish trend and managed to conclude this week on positive note. This was largely due to the high hopes that the government will reach an agreement to save the stock market and the national economy.

The government confirmed at the end of this week that it has approved a KD5 billion fund aimed at providing liquidity for local companies….. Full Article: Source

Posted on 02 February 2009 by VRS |  Email |Print

From Themoscowtimes.com: A significant portion of the government’s $215 billion stabilization fund will be spent to cover a budget deficit this year, Finance Minister Alexei Kudrin told the State Duma.

“This year is the peak of the crisis, and we’re starting from the idea that a significant part of the Reserve Fund will be spent, but not all,” he said during a meeting with deputies….. Full Article: Source

Posted on 02 February 2009 by VRS |  Email |Print

From Gulfnews.com: Qatar may buy stakes in three “blue-chip” companies and increase existing holdings, the prime minister said. “We cannot build all our reserves on one kind of investment, so we have to spread it,” Hamad Bin Jasem Bin Jaber Al Thani said.

“We are talking with two to three companies at the moment. We are looking for the blue-chip companies.” The country is considering investing in financial services, industrial companies and tourism, said Al Thani, who is also head of the country’s $58 billion (Dh213 billion) sovereign wealth fund….. Full Article: Source

Posted on 02 February 2009 by VRS |  Email |Print

From Reuters: Qatar is set to shift its investment focus back to domestic projects as the economy slows sharply and firms face higher financing costs, the country’s top financial regulator said on Friday.

Qatar, which is the world’s biggest liquefied natural gas exporter, has been investing windfall oil revenues overseas, snapping up stakes in international companies with the economy expanding 20 percent in the past few years. Qatar Investment Authority (QIA), the country’s sovereign wealth fund, has stakes in Credit Suisse Group and British bank Barclays…. Full Article: Source

Posted on 02 February 2009 by VRS |  Email |Print

From Deloitte.com: Until recently, few people knew what a Sovereign Wealth Fund (SWF) was, even though some of these funds have been in existence for decades. An SWF certainly doesn’t always look or act like other investment vehicles.

These special-purpose investment funds are owned by foreign governments whose policies may sometimes differ from the policies of the countries where they invest; thus SWFs sometimes generate controversy….. Full Article: Source

Posted on 02 February 2009 by VRS |  Email |Print

From Straitstimes.com: Long-term institutional investors like the Government of Singapore Investment Corporation (GIC) have a key role to play in the reform of the global financial system post-crisis.

That was the message that Dr Tony Tan, GIC’s deputy chairman and executive director, delivered to the high-powered annual meeting of the World Economic Forum (WEF) in Davos yesterday. …. Full Article: Source

Posted on 02 February 2009 by VRS |  Email |Print

From Globes.co.il: The Bank of Israel’s totaled $41.74 billion at the end of January 2009, $587 million less than the all-time high at the end of December 2008.

The Bank of Israel attributed the decline to a $1.9 billion increase due toBank of Israel purchases of dollars on the market, as part of its planned increase in the foreign exchange reserves. …. Full Article: Source

Posted on 02 February 2009 by VRS |  Email |Print

From Militaryphotos.net: Sovereign wealth funds, as defined by the U.S. treasury, are government investment funds, funded by foreign currency reserves but managed separately from official currency reserves. Basically, they are pools of money governments invest for profit. Often this money is used to invest in foreign companies.

For instance, China’s SWF purchased stakes in the U.S. financial firms Morgan Stanley and the Blackstone Group in late 2007. Dubai’s SWF has bought up shares of several Asian companies, including Sony….. Full Article: Source

See more articles in the archive

banner
September 2014
M T W T F S S
« Aug    
1234567
891011121314
15161718192021
22232425262728
2930