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Sovereign Wealth Funds Briefing 11.Jun 2009

Posted on 11 June 2009 by VRS |  Email |Print

From China Knowledge: China Investment Corp (CIC), the country’s US$200 billion sovereign wealth fund, has shown strong interest in buying into Enel SpA, the largest power operator in Italy, the Oriental Morning Post reported on Wednesday.

Chinese companies intend to buy stakes in Italian firms via financial investment, the Italian daily newspaper Il Giornale reported on Tuesday, quoting Italy’s Trade Minister Adolfo Urso as saying……..Full Article: Source

Posted on 11 June 2009 by VRS |  Email |Print

From AFP: Russia announced plans Wednesday to cut the US Treasury bond holdings in its 400-billion-dollar sovereign wealth fund, the central bank’s first deputy chairman, Alexei Ulyukayev, said.

“We plan to reduce the portion of US Treasuries since the window of opportunity has arisen to work with other (financial) instruments,” he was quoted by Russian news agencies as saying……..Full Article: Source

Posted on 11 June 2009 by VRS |  Email |Print

From Smartcompany.com.au: Research firm Chant West has forecast the median balanced superannuation fund will report a 13.4% fall in the 12 month to 30 June, making 2008-09 the worst year for super funds on record.

Super fund members are on track to suffer losses for the second consecutive year, after the average fund declined 6.9% in 2007-08……..Full Article: Source

Posted on 11 June 2009 by VRS |  Email |Print

From Asianinvestor.net: Thailand’s Public Sector Anti Corruption Commission (PACC) has asked former Government Pension Fund (GPF) secretary-general, Visit Tantisunthorn, to clarify by June 15 alleged irregularities in the management of the fund during his tenure.
The GPF manages around Bt400 billion ($11.8 billion) in assets for about 1.2 million civil servants in Thailand……..Full Article: Source

Posted on 11 June 2009 by VRS |  Email |Print

From Icars.sg: Words are being exchanged that Qatar Investment Authority, is interested in taking up to 25% of stake in German sports car maker, Porsche.

Porsche, which is interested in the deal, would receive a good dose of capital (4.5 billion Euros), that can help the auto maker repair its tattered balance sheet and bolster its bargaining position when arguing for a merger of equals with financially solid Volkswagen……..Full Article: Source

Posted on 11 June 2009 by VRS |  Email |Print

From Gulfnews.com: The International Finance Corp (IFC) and three Saudi Arabian government funds will provide $400 million (Dh1.4 billion) in Islamic financing to help Saudi banks boost mortgage lending.

“Home financing in Saudi Arabia is a priority for the IFC,” Walid Al Murshed, Saudi country manager for the IFC, said in an interview yesterday. “Less than 10 per cent of total consumer financing goes to mortgages.”…….Full Article: Source

Posted on 11 June 2009 by VRS |  Email |Print

From Thenational.ae: Investment funds focusing on distressed property are forming in the UAE, helping to solve some of the problems caused by disputes between developers and investors that have hit tower builders’ cash flows.

Their emergence has coincided with a recovery in prices in some parts of Dubai and Abu Dhabi, raising hopes that the property market may have turned the corner after a sharp downturn……..Full Article: Source

Posted on 11 June 2009 by VRS |  Email |Print

From Shanghaidaily.com: China Investment Corp, which operates China’s US$200-billion sovereign wealth fund, will spend US$1.2 billion to increase its holding in Morgan Stanley. At the same time, PetroChina Co said it would purchase a 45.5-percent stake in Singapore Petroleum Co for S$1.47 billion (US$1.02 billion).

Other potential deals in the pipeline include the Industrial and Commercial Bank of China taking a stake in Thailand’s ACL Bank and China Investment Corp considering an investment in the City of London……..Full Article: Source

Posted on 11 June 2009 by VRS |  Email |Print

From Alibaba.com: China’s National Social Security Fund (NSSF) is ready for a new round of investment in global capital markets as it has appointed a new set of foreign asset managers, including BNY Mellon Asset Management and Schroders, sources said on Tuesday.

The $80 billion NSSF awarded mandates to a group of international fund managers, which also includes Martin Currie and Fidelity Investments, and started doling out money in April, said the sources with direct knowledge of the matter……..Full Article: Source

Posted on 11 June 2009 by VRS |  Email |Print

From Forbes: Brazil is looking to buy $10 billion in IMF bonds, Finance Minister Guido Mantega said on Wednesday, joining China and Russia in seeking to use the new instruments to diversify dollar-heavy currency reserves.

“This support is important to help end the international financial crisis,” Mantega said, adding that a trade surplus and $204 billion in reserves has positioned Brazil to help the International Monetary Fund boost lending to other emerging economies……..Full Article: Source

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