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Sovereign Wealth Funds Briefing 17.Feb 2009

Posted on 17 February 2009 by VRS |  Email |Print

From FT: Sovereign wealth funds in the Middle East are growing increasingly concerned about the health of the US Treasury market, raising questions about whether they will remain such active buyers of US government debt.

Middle Eastern buyers are the fifth-largest investors in Treasuries after China, Japan, the UK and Caribbean banking centres, and their appetite could prove critical to US government plans to issue mountains of debt to fund stimulus efforts. …. Full Article: Source

Posted on 17 February 2009 by VRS |  Email |Print

From FT: Sovereign wealth funds plan to resume investing in assets around the world this year, with a focus on strong dividend yields, according to a survey.

Many of the funds, the most powerful of which are based in Asia and the Middle East, have stopped investing in the wake of the global economic downturn, which has slashed the value of their portfolios….. Full Article: Source

Posted on 17 February 2009 by VRS |  Email |Print

From Business24-7.ae: The value of the Gulf’s external portfolio – excluding the private assets of the region’s ruling families – fell from almost $1.3 trillion (Dh4.7trn) in 2007 to $1.2trn in 2008, according to a report by the Council on Foreign Relations (CFR).

The study says the region’s funds are likely to shrink further in 2009 as the price of oil has fallen to a point where many Gulf companies will have to draw on their foreign assets to sustain their current levels of imports….. Full Article: Source

Posted on 17 February 2009 by VRS |  Email |Print

From Abc.az: The International Finance Corporation (IFC) has not determined the frames of package of crisis response initiatives to support the private sector in emerging markets hit by the global financial crisis and a Sovereign Funds Initiative which will enable IFC, a member of the World Bank Group, to raise and manage commercial capital from sovereign funds for equity investments in some of the poorest developing countries.

IFC Representative Aliya Azimova said that currently the criteria of selection of new Bank Recapitalization Fund members are being determined….. Full Article: Source

Posted on 17 February 2009 by VRS |  Email |Print

From Yoursdp.org: Cash-rich sovereign wealth funds are unlikely to come to the rescue of battered global financial markets for some time to come, according to Vanguard, the $1,000bn (£694bn, €776bn) strong US fund management house.

A series of Asian and Middle Eastern state-run entities have had their fingers burned after moving prematurely to snap up stakes in beaten-up western financial stocks….. Full Article: Source

Posted on 17 February 2009 by VRS |  Email |Print

From Nbr.co.nz: The New Zealand Super Fund has delivered a thinly veiled warning to the National Party about the dangers of introducing a mandated level of New Zealand-based investment.

The $12 billion fund’s confidential briefing to incoming Finance Minister Bill English was made public yesterday. …. Full Article: Source

Posted on 17 February 2009 by VRS |  Email |Print

From Themedialine.org: The state-owned Gulf sovereign wealth funds (SWF) are waiting for the financial markets to hit the bottom before making any more substantial investments. They are also not interested in taking over management, according to a new report released by Financial Dynamics International.

The SWFs are not interested in becoming majority investors and have representation on company boards. Rather, they are looking to purchase minority stakes in listed companies and become long-term, passive investors, according to the report. …. Full Article: Source

Posted on 17 February 2009 by VRS |  Email |Print

From Thehindubusinessline.com: The world’s most powerful global Sovereign Wealth Funds (SWFs) confirm that they are still awaiting the bottom of the market before committing to further substantial investments, a survey has said.

Conducted by Financial Dynamics International (FD), a member of FTI Consulting Inc, the survey also said that SWFs see their role as that of passive long-term investors, with no desire to behave in an activist manner towards investee companies. …. Full Article: Source

Posted on 17 February 2009 by VRS |  Email |Print

From Kuwaittimes.net: In yet a new bombshell, the opposition Popular Action Bloc yesterday strongly rejected the government-sponsored economic stimulus bill, describing it as an attempt to squander public funds and bail out influential people who committed investment blunders.

The bloc also warned that it will “initiate constitutional means to question the government” if the bill is passed and implemented, an indirect threat to grill Prime Minister Sheikh Nasser Al-Mohammad Al-Sabah. …. Full Article: Source

Posted on 17 February 2009 by VRS |  Email |Print

From AFP: Singapore Airlines, 54 percent owned by Singapore sovereign wealth fund Temasek Holdings, said Monday it will cut 17 percent of its fleet and is exploring other cost-saving measures amid a global economic slump which has hit travel and cargo demand.

The airline, one of Asia’s major carriers, said in a statement that it will decommission 17 passenger aircraft over the financial year from April 2009 to March 2010, and was not ruling out the possibility of deferring plane orders. …. Full Article: Source

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