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Sovereign Wealth Funds Briefing 14.Jul 2009

Posted on 14 July 2009 by VRS |  Email |Print

From Pionline.com: Charts and data - Ranked by assets under management, in billions of U.S. dollars: U.A.E.’s Abu Dhabi Investment Authority tops the chart with assets worth $627 billion, followed by Saudi Arabia’s SAMA Foreign Holdings ($431 billion) and China’s SAFE Investment Co ($347.1 billion).
U.A.E’s Dubai World is the last one in the chart………Full Article (Subscription Required): Source

Posted on 14 July 2009 by VRS |  Email |Print

From Thedeal.com: Oil-rich Abu Dhabi is increasing its commitment to the cleantech market via its sovereign wealth fund, Aabar Investments.

Aabar has announced the purchase of a stake in high-end electric carmaker Tesla Motors Inc. Aabar bought the 4% holding from Daimler AG, which still holds about 6%. Terms were not disclosed, but Daimler paid about $50 million for a 10% stake in May………Full Article (Subscription Required): Source

Posted on 14 July 2009 by VRS |  Email |Print

From Dow Jones: Porsche Automobil Holding SE reiterated Monday it has received an offer for a capital injection from Qatar Investment Authority after the governor of the German state of Lower Saxony, Christian Wulff, earlier Monday described related reports as nonsense.

“Mr. Wulff wasn’t involved in the negotiations [between Qatar and Porsche],” Porsche spokesman Frank Gaube said, adding that both Porsche and Qatar are interested in forging an integrated company with Volkswagen AG……..Full Article (Subscription Required): Source

Posted on 14 July 2009 by VRS |  Email |Print

From Bloomberg: Porsche SE rose the most in 3 1/2 months in Frankfurt trading after Der Spiegel reported Qatar offered about 7 billion euros ($9.8 billion) for a stake in the maker of the 911 sports car and its Volkswagen AG stock options.

Porsche gained 4.11 euros, or 9.7 percent, to 46.45 euros in the biggest jump since April 2. That pared the shares’ decline this year to 11 percent, valuing the carmaker at 8.17 billion euros………Full Article: Source

Posted on 14 July 2009 by VRS |  Email |Print

From Pionline.com: Sovereign wealth funds may have taken a bigger hit than other institutional investors during last fall’s credit crunch, but they’ve learned their lesson and remain a force to be reckoned with. Or a juicy potential client base.
Our special report digs into these tightly-controlled investment pools and finds out what kind of manager stands to benefit as SWFs diversify………Full Article (Subscription Required): Source

Posted on 14 July 2009 by VRS |  Email |Print

From Pionline.com: What exactly are sovereign wealth funds and what do they do? For starters, they are collectively a pool of capital estimated to be somewhere between about three and a half trillion to nearly seven trillion dollars.

As state institutions, funded with commodity revenue or cash from the sale of state assets, sovereign wealth funds are shrouded in mystery………Full Article (Subscription Required): Source

Posted on 14 July 2009 by VRS |  Email |Print

From Tradearabia.com: State-controlled utility Saudi Electricity said on Monday it obtained a 2.6 billion riyals ($693.3 million) soft loan from a state-owned fund to help finance power generation projects.

The Public Investment Fund (PIF) extended the 15-year loan for projects Saudi Electricity plans in the capital Riyadh, the Gulf’s largest utility by market value said in a statement posted on the Saudi bourse’s website………Full Article: Source

Posted on 14 July 2009 by VRS |  Email |Print

From Bloomberg: Several Chinese sovereign wealth funds are close to agreeing to provide most of the financing for a coal-to-urea project for the Latrobe Valley in the Australian state of Victoria.

China is nearing a $1.2 billion agreement to transform Victorian brown coal into fertilizer, the Sydney Morning Herald reported, without saying where it got the information……….Full Article: Source

Posted on 14 July 2009 by VRS |  Email |Print

From Chinadaily.com.cn: China’s national government pension fund, the Social Security Fund (SSF), may cut its stock investments in the second half despite that it made a 9.99-percent return on equity investments during January to June, analysts said.

SSF, which is estimated to have invested around 16 percent of its 660 billion yuan ($96.63 billlion) worth assets in stocks in the first half, may cut its share holding slightly as the market is expected to lose some of its growth momentum in the second half, they said………Full Article: Source

Posted on 14 July 2009 by VRS |  Email |Print

From China Knowledge: China State Construction Engineering Corp (CSCEC), the country’s largest civil engineering company, will float 12 billion shares in an initial public offering (IPO) in Shanghai next month to raise as much as RMB 42.6 billion.
CSCEC has finished transferring 1.2 billion shares to China’s National Social Security Fund (NSSF), the country’s national pension fund, and is thus one step nearer to its share offering……….Full Article: Source

Posted on 14 July 2009 by VRS |  Email |Print

From Newsweek.com: In October 2007 McKinsey Global Institute issued a report documenting the stunning rise of four comparatively new pools of capital—hedge funds, private-equity firms, Asian sovereign capital (Asian central banks and sovereign wealth funds), and petroleum exporters (companies, governments, and central banks of oil producers).
These new power brokers had been major beneficiaries of recent trends in the global economy. And if existing trends were to continue—and why wouldn’t they?—they’d be even bigger in a few years……….Full Article: Source

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