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Sovereign Wealth Funds Briefing 12.Jun 2009

Posted on 12 June 2009 by VRS |  Email |Print

From Efinancialcareers-gulf.com: The Abu Dhabi Investment Company, which has been on something of a hiring spree this year, has rolled out four new equities funds in a bid to attract international investors and reinvented itself as Invest AD. It also looks set to continue recruiting.

The new funds are an attempt to lure institutional investors to the MENA region, which Invest AD chairman, Khalifa Al Kindi describes as a “phenomenal investment opportunity”……..Full Article: Source

Posted on 12 June 2009 by VRS |  Email |Print

From Menafn.com: The accumulation of sovereign wealth is enabling governments in the Gulf Cooperation Council, or GCC, countries to raise expenditure in defiance of falling oil receipts, thus limiting the impact on corporate profits, says Moody’s Investors Service in a new Special Comment.

“Despite falling oil receipts, ample sovereign wealth funds are allowing GCC governments to maintain expenditure and support government-owned corporates in the face of deteriorating fundamentals,” the ratings agency said……..Full Article: Source

Posted on 12 June 2009 by VRS |  Email |Print

From Reuters: Libya is looking at potential investments in Italy’s electricity and infrastructure sectors, including power producer Enel and construction company Impregilo, the head of Libya’s sovereign wealth fund said on Thursday.

Abdulhafid Zlitni, chairman of the Libyan Investment Authority, told a group interview that Libyan officials planned to have talks to set up joint ventures with Italian companies for projects in the North African country……..Full Article: Source

Posted on 12 June 2009 by VRS |  Email |Print

From Abc.az: The Supervisory Board of the State Oil Fund of the Republic of Azerbaijan (SOFAZ) held a session today.

The Fund reports that at the meeting Artur Rasi-zadeh, Prime Minister and chairman of the Supervisory Board was re-elected as the Supervisory Board’s chairman-in-office……..Full Article: Source

Posted on 12 June 2009 by VRS |  Email |Print

From Responsible-investor.com: UK pension funds and insurance companies are seeking to build an international network of investors and sovereign wealth funds with an interest in long-term value, in a bid to put some major weight behind their lobbying of companies on important issues and their subsequent voting at annual general meetings.
In a widely-anticipated report, the UK Institutional Shareholders Committee (ISC) said its chairman, Keith Skeoch, chief executive officer at Standard Life, would initiate discussions with senior practitioners from the global investment industry to plan ways to build the network……..Full Article: Source

Posted on 12 June 2009 by VRS |  Email |Print

From Bloomberg: Former Lehman Brothers Holdings Inc. and Government of Singapore Investment Corp. traders are among an estimated 32 hedge-fund startups in Asia that are offering strategies beyond equities, after a record 180 funds closed in the region during last year’s global markets rout.

About 65 percent of hedge funds in Asia trade only equities, compared with a global average of 44 percent, data compiled by Singapore-based GFIA Pte and Eurekahedge Pte show……..Full Article: Source

Posted on 12 June 2009 by VRS |  Email |Print

From Reuters: ConocoPhillips has signed a deal to develop a Kazakhstan offshore field along with Abu Dhabi’s Mubadala Development Company and the state operator, the U.S. oil company said on Thursday.

The “N” block, covering 8,100 square kilometers (3,100 sq miles) and located 30 kilometers (19 miles) off the Caspian seaport of Aktau, joins a growing number of energy projects in Kazakhstan. Chevron Corp , for one, produces more than a tenth of its output in the country……..Full Article: Source

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From China Knowledge: China’s National Social Security Fund (NSSF), the country’s national pension fund, plans to invest RMB 10 billion in three private equity funds this year, said Dai Xianglong, chairman of the National Council for the Social Security Fund, at a forum in Tianjin on Wednesday.

However, Dai did not specify whether the funds are denominated in Chinese currency or in foreign currencies……..Full Article: Source

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From Ninemsn.com.au: Australians are in for a “nasty shock”, experts have warned, with returns from the average superannuation fund predicted to plunge 13 percent by the end of the tax year.

The news comes as a further blow for the nation’s elderly population, with almost 3 million considering returning to the workforce after having their savings ravaged by the financial crisis……..Full Article: Source

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From Reuters: Indonesia’s state pension fund, PT Jamsostek, may increase its exposure to domestic equities because of better market conditions, but only to a limited extent as risks remain, a director said on Thursday.

The fund, which had about 64.4 trillion rupiah ($6.41 billion) of funds under management as of March, saw a 2 trillion rupiah rise in the value of investments in the first quarter……..Full Article: Source

Posted on 12 June 2009 by VRS |  Email |Print

From Bloomberg: Alberta Investment Management Corp., Canada’s fifth-biggest pension fund manager, plans to spend about C$1 billion ($910 million) in the next year on private- equity investments as stocks rebound.

“Private equity this year and next year are probably going to be the best vintage years in quite a while,” Chief Executive Officer Leo de Bever, 61, said today in an interview in Toronto. “They always are in a recession.” …….Full Article: Source

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From Economist.com: Norway’s gross debt was close to 60% of GDP in 2007, but thanks to its oil-based sovereign-wealth fund it had a net surplus of almost 150% of GDP.
Since Japan’s government controls vast assets, notably the Japan Post bank, its net debt, at 86% of GDP, is far lower than its gross debt……..Full Article: Source

Posted on 12 June 2009 by VRS |  Email |Print

From Mediamonitors.net: Most banks and economists put the oil income of the Gulf Sovereign Wealth Funds at $1.5 Trillion.
This estimate excludes Saudi Arabia that just launched its own Sovereign Wealth Fund (S.W.F.) last year with a meager $5.3 Billion: (Economist, May 1, 2008). A Sovereign Wealth Fund is a government owned investment fund……..Full Article: Source

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