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Sovereign Wealth Funds Briefing 21.Jul 2009

Posted on 21 July 2009 by VRS |  Email |Print

From Thepeninsulaqatar.com: The financial clout of sovereign wealth funds has been savaged by the credit crisis as the value of their assets has plunged and forecasts for their growth have been dramatically scaled back.
Assets under management at the end of the first quarter were estimated at $3,000bn - some $600bn less than at the end of 2007 - as the collapse in equities, real estate and other securities hit funds’ holdings, according to Deutsche Bank……..Full Article: Source

Posted on 21 July 2009 by VRS |  Email |Print

From Nytimes.com: Roger Jenkins, the Hollywood-connected Barclays executive who last year helped preserved the bank’s independence by securing a vital investment from the Persian Gulf, is planning to establish a firm to advise sovereign wealth funds.
Mr. Jenkins, who is said to be one of London’s highest-paid bankers, is negotiating departure terms after 25 years with Barclays, a person with direct knowledge of the talks said Monday. The person declined to be identified because no agreement had been reached……..Full Article: Source

Posted on 21 July 2009 by VRS |  Email |Print

From China Knowledge: China Investment Corp, the country’s US$200 billion sovereign wealth fund, has acquired a 1.1% stake in British distiller Diageo PLC for £221 million, sources reported.

After the deal, CIC will be the ninth largest shareholder of Diageo. In 2008, Diageo set up a separate operating business, Diageo China, to enhance its presence in the Chinese market, sources said……..Full Article: Source

Posted on 21 July 2009 by VRS |  Email |Print

From Bernama: Prime Minister Datuk Seri Najib Tun Razak has announced a major initiative by the Abu Dhabi government whereby a sovereign wealth fund it wholly owns is set to make a US$1 billion investment in Malaysia in the energy, real estate and hospitality sectors.

Najib said the proposed investment would be carried out in partnership with a new Malaysian sovereign wealth fund to be known as “1Malaysia Development Berhad” (1MDB), which is the result of the government’s decision to expand the Terengganu Investment Authority (TIA)……..Full Article: Source

Posted on 21 July 2009 by VRS |  Email |Print

From IPE: The Ministry of Finance has announced that UK firm Livingstone & Company will provide research on companies included in the investment portfolio of the NOK 2.38trn (€264.2bn) Government Pension Fund – Global that may be in conflict with its ethical guidelines.

A tender notice for the framework agreement, valued at NOK 1.5m, was issued on behalf of the Council of Ethics in February, alongside two additional searches for a provider of ethical screening of the pension fund’s investments……..Full Article: Source

Posted on 21 July 2009 by VRS |  Email |Print

From Forbes: Chinese iron ore miner Lung Ming, partly invested by private equity firm Hopu and Singapore’s state investor Temasek, plans to list shares in Hong Kong this year to raise up to $1 billion, sources with direct knowledge of the plan said.
f successful, Lung Ming’s IPO would be the first investment exit for Hopu, an influential China-focused private equity firm run by top Chinese dealmaker Fang Fenglei, who helped Goldman Sachs set up its China investment banking joint venture……..Full Article: Source

Posted on 21 July 2009 by VRS |  Email |Print

From CNBC: Sovereign wealth funds’ assets rose between $3.7 and $3.9 trillion by the end of ‘08, according to IFSL.
“Middle Eastern sovereign wealth funds account for just under half of world sovereign wealth fund assets at the moment,” Marco Maslakovic from IFSL said……..Full Article: Source

Posted on 21 July 2009 by VRS |  Email |Print

From Dbresearch.com: As for other institutional investors, mark-to-market values of SWF portfolios likely to have suffered during financial crisis.Typical equity portfolios held by SWFs may have lost 45% between end-2007 and early 2009, reducing overall SWF portfolios by around 18%.

Additional changes in portfolio values may result from price variations in other asset classes……..Full Article: Source

Posted on 21 July 2009 by VRS |  Email |Print

From Brudirect.com: The nightmarish possibility of Brunei losing out on its considerable overseas investment has been raised by the International Monetary Fund (IMF) in its latest country report. Brunei surpluses are saved overseas through the Brunei Investment Agency (BIA).

But the world body has also given Brunei a pat on the back and at the same time a nudge to remind the sultanate of possible dire economic pitfalls……..Full Article: Source

Posted on 21 July 2009 by VRS |  Email |Print

From Legalworkshop.org: Western response to the enormous increase in the number and the assets of sovereign wealth funds (SWFs), and other government-directed investment vehicles that often get lumped together under the SWF label.
To their most severe critics, sovereign wealth funds are a threat to the sovereignty of the nations in whose corporations they invest……..Full Article: Source

Posted on 21 July 2009 by VRS |  Email |Print

From Financialstandard.com.au: The Sovereign Wealth Fund Institute has launched a confidential trading platform that allows some of the biggest institutional investors to trade assets.

Wholly owned by the institute, the Imbourse platform provides capital introduction between buyers and sellers to provide a cheaper, confidential and liquid way to trade……..Full Article: Source

Posted on 21 July 2009 by VRS |  Email |Print

From Bloomberg: The New Zealand Superannuation Fund, which manages money the government will use to help pay future pensions, has ended agreements with ING (NZ) Ltd. and Smartshares Ltd. to reduce costs.

The Auckland-based fund will manage these mandates internally, giving it greater flexibility and utilize its own resources, it said in a statement posted on its Web site……..Full Article: Source

Posted on 21 July 2009 by VRS |  Email |Print

From Timesonline.co.uk: A planned $10 billion deal by Vivendi, the French media group, to buy a majority stake in the African telecoms operations of Zain, the Kuwaiti mobile group whose biggest shareholder is Kuwait’s sovereign wealth fund, has broken down.
Vivendi said today that it had called off negotiations after deciding the deal did not fit its investment criteria……..Full Article: Source

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