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Sovereign Wealth Funds Briefing 31.Jul 2009

Posted on 31 July 2009 by VRS |  Email |Print

From Bloomberg: France’s sovereign wealth fund may spend 900 million euros ($1.3 billion) before the end of the year and increase aid to the auto industry in 2010, as the recession batters companies’ finances.

The 20 billion-euro investment pool, set up last year by President Nicolas Sarkozy, may provide capital to suppliers of Airbus SAS and Safran SA and open a fund for smaller companies, said Gilles Michel, managing director of the fund……….Full Article: Source

Posted on 31 July 2009 by VRS |  Email |Print

From WSJ: China Investment Corp.’s $200 billion sovereign-wealth fund is reaching out to old friends in the U.S. as it ventures into hedge-fund investing.
The fund has selected Morgan Stanley and Blackstone Group LP to oversee hundreds of millions of dollars in new private-fund investments, people familiar with the matter say……….Full Article (Subscription Required) : Source

Posted on 31 July 2009 by VRS |  Email |Print

From WSJ: China Investment Corp. has selected Morgan Stanley’s asset-management unit and Blackstone Group LP to oversee hundreds of millions of dollars in allocations as it ventures into the U.S. hedge-fund business.
China’s $200 billion sovereign-wealth fund has finalized an allocation of $500 million to Blackstone Group’s fund-of-funds unit, so called because it farms out clients’ money to dozens of individual hedge funds, and also has earmarked additional money to be overseen by Morgan Stanley’s asset-management unit, according to people familiar with the situation……….Full Article (Subscription Required) : Source

Posted on 31 July 2009 by VRS |  Email |Print

From Reuters: Kuwait Investment Authority (KIA), the Gulf state’s sovereign wealth fund, has asked Zain to keep it updated on any talks linked to a stake sale in the mobile operator, a local newspaper said on Thursday.

KIA, which owns 24.6 percent of Zain, said it wants to be able to evaluate any offer based on its own investment strategy, al-Qabas said in an unsourced report citing correspondence between two parties……….Full Article: Source

Posted on 31 July 2009 by VRS |  Email |Print

From Watoday.com.au: The $58 billion Future Fund is prepared to start wading back into the market to invest in bank debt that doesn’t carry the backing of a Government guarantee.

The indication of the fund’s stance by chairman David Murray underscores growing confidence among major debt investors in the health of the banks. This attitude is likely to lead to cheaper pricing for their wholesale funding……….Full Article: Source

Posted on 31 July 2009 by VRS |  Email |Print

From Theage.com.au: The Future Fund is looking at investing in private equity, debt and infrastructure, its chairman David Murray says.

The fund still had a significant proportion of its funds in cash, Mr Murray said at an American Chamber of Commerce luncheon in Sydney on Thursday……….Full Article: Source

Posted on 31 July 2009 by VRS |  Email |Print

From WSJ: Stung by a botched CEO succession and unprecedented public griping over its losses, Singapore’s Temasek Holdings is offering up some radical thinking on the direction of state-run funds.

The fund is considering allowing institutions, and eventually Singapore’s public, to team up with it on investments. For now, Temasek is calling the plan a long-term one, and offering few details on how it’ll work……….Full Article(Subscription Required) : Source

Posted on 31 July 2009 by VRS |  Email |Print

From Businessday.co.za: Temasek Holdings, reeling from the aborted appointment of Charles Goodyear, said yesterday it had lost more than S40bn ($27,7bn) in asset value and that the sovereign fund might allow public investment for the first time.

The Singapore investment company would seek “sophisticated investors” and would not sell the “family jewels” for short-term gains, CEO Ho Ching, the wife of Singaporean Prime Minister Lee Hsien Loong, said………Full Article: Source

Posted on 31 July 2009 by VRS |  Email |Print

From Theherald.co.uk: Finance Secretary John Swinney insisted yesterday that it was not too late for Scotland to create an oil fund to cushion the country’s future.

He accused Westminster of squandering billions of pounds in North Sea revenues……….Full Article: Source

Posted on 31 July 2009 by VRS |  Email |Print

From Dow Jones: Italian state-controlled defense and aerospace company Finmeccanica SpA will create a joint venture to invest in developing civil projects in Africa and the Middle East with the Libyan Investment Authority, it said late Tuesday.

The joint venture, which will start Jan. 1, is the first industrial joint venture between the two countries following a landmark agreement in August 2008 for Italy to pay $5 billion over 20 years as compensation to Libya for its colonial past……….Full Article (Subscription Required) : Source

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From Businessdailyafrica.com: The National Social Security Fund, looks set to venture into infrastructure development for long-term growth as the drive to diversify and weather competition intensifies.
In an exclusive interview, NSSF managing trustee Alex Kazongo said the pensions manager would take a plunge into construction of residential houses, bridges and roads, among others, through infrastructure bonds in one-and-half years……….Full Article: Source

Posted on 31 July 2009 by VRS |  Email |Print

From Bangkokpost.com: Appropriate levy rates for the state Oil Fund are crucial for financing alternative fuel development, says Thailand Energy Minister Wannarat Channukul.

He was responding yesterday to complaints by senators that motorists were suffering because the levies collected on fuel were too high……….Full Article: Source

Posted on 31 July 2009 by VRS |  Email |Print

From Sovereigninvestor.org: The economy is in big trouble and investment capital is on standing on the sideline. One significant source of investment capital is the trillions of dollars in sovereign investment funds, whose portfolios have been ravaged and whose reputations have been savaged.

Infusing these massive investment pools back into the markets would provide a significant boost to the economy and would reinstate much of the confidence that has evaporated. The nations that best understand the needs of responsible sovereign investors are the nations that are most likely to attract and retain this much needed investment……….Full Article: Source

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