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Sovereign Wealth Funds Briefing 28.Jul 2009

Posted on 28 July 2009 by VRS |  Email |Print

From Bloomberg: Temasek Holdings Pte said it will consider promoting an internal manager after abandoning plans to make Charles “Chip” Goodyear the first foreign chief executive officer of Singapore’s state-owned investment fund.

“Temasek has in place a CEO succession planning process,” Temasek said in an e-mailed response to questions. “Our board reviews external and internal candidates over various time horizons.” ……….Full Article: Source

Posted on 28 July 2009 by VRS |  Email |Print

From Thenational.ae: The largest shareholder in Zain, the Kuwaiti mobile operator recently listed as a possible acquisition target by Etisalat, is reportedly open to selling its 25 per cent share in the company.

A report in Al Rai, a Kuwaiti daily newspaper, quoted anonymous sources in the Kuwait Investment Authority (KIA) as saying the sovereign wealth fund would consider such a sale at the right valuation………..Full Article: Source

Posted on 28 July 2009 by VRS |  Email |Print

From Thepeninsulaqatar.com: After publishing its second set of annual results last week, and with an international rating on the way, Bahrain Mumtalakat Holding Company seems determined to earn a reputation as the most transparent sovereign wealth fund in the Gulf.
“Unlike most of the funds in the region, we do not get our income from oil revenues,” says Talal Al Zain, chief executive………..Full Article: Source

Posted on 28 July 2009 by VRS |  Email |Print

From Superreview.com.au: Australian superannuation fund members have not been unduly panicked by the investment losses generated by the global financial crisis, according to a survey conducted by the Industry Super Network (ISN).

The survey found rather than becoming overly worried by the decline in their superannuation balances, fund members have been more focused on issues such as the general economic conditions and their job security………..Full Article: Source

Posted on 28 July 2009 by VRS |  Email |Print

From Cs.com.cn: The official line why Charles “Chip” Goodyear will not become chief executive of Temasek Holdings as planned is that the American executive and the board of the giant Singapore investment fund did not quite see eye-to-eye on strategy.
If that’s the case, it’s hard to understand why it took them five months to discover the yawning gulf between them………..Full Article: Source

Posted on 28 July 2009 by VRS |  Email |Print

From Businessday.co.za: Qatar used its $63bn sovereign wealth fund to give the world’s second-richest country behind Liechtenstein investment clout, snapping up stakes in established brands or troubled companies in need of cash.

Four years after its inception, the fund has become the biggest shareholder in Barclays, J Sainsbury and Credit Suisse………..Full Article: Source

Posted on 28 July 2009 by VRS |  Email |Print

From Reuters: The General Organisation for Social Insurance (GOSI), Saudi Arabia’s largest pension fund, has raised stakes in six listed firms, including Saudi Telecom 7010.SE and Savola Group 2050.SE, official data showed on Monday.

The state-owned GOSI increased its stake in state-controlled Saudi Telecom on Sunday to 7 percent from 6.9 percent, according to the data published on the stock exchange’s website………..Full Article: Source

Posted on 28 July 2009 by VRS |  Email |Print

From Haaretz.com: The Council on Ethics was established to insure that foreign investments by the Norwegian Government Pension Fund-Global meet its ethical guidelines.
At the end of 2008, the fund was invested in about 8,000 international companies, to the tune of 2,275 billion kroner, approximately $365 billion, according to this week’s exchange rate………..Full Article: Source

Posted on 28 July 2009 by VRS |  Email |Print

From Indiatimes.com: Norway’s Government Pension Fund (Global) — where the surplus wealth produced by Norwegian petroleum income is deposited — has exposure to around 215 Indian listed companies.
According to an official of Norges Bank Investment Management, which is responsible for investing the international assets of the fund, emerging markets such as India have been ‘responsible for improvement in the returns’ clocked by international listed stocks portfolio………..Full Article: Source

Posted on 28 July 2009 by VRS |  Email |Print

From Telegraph: China’s enormous sovereign wealth funds have invested heavily in UK-listed companies and continue to invest; last week, China Investment Corporation took a 1pc share in Diageo for £221m.

However, there seems little desire among Chinese companies to expand operations into Britain. The Government boasts that China is now one of Britain’s top 10 foreign investors, but Chinese companies created a mere 607 jobs in the UK last year………..Full Article: Source

Posted on 28 July 2009 by VRS |  Email |Print

From Themoscowtimes.com: The Reserve Fund, one of the two sovereign wealth funds, will be exhausted in 2010, the Finance Ministry of Russia said.
The National Welfare Fund, which contained 2.8 trillion rubles as of July 1, will total 2.3 trillion rubles at the end of next year, 1.6 trillion rubles in 2011 and 940 billion rubles in 2012, the ministry said………..Full Article: Source

Posted on 28 July 2009 by VRS |  Email |Print

From Egovmonitor.com: Scottish oil wealth must leave a lasting legacy for the country, Finance Secretary John Swinney will say later this week.

The Scottish Government will advance its case for an oil fund for Scotland, part of the next stage of the National Conversation………..Full Article: Source

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