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Sovereign Wealth Funds Briefing 20.Oct 2009

Posted on 20 October 2009 by VRS |  Email |Print

From Reuters: GDF Suez has been approached by a Chinese sovereign fund eager to take a minority interest in the French utility, its chief executive said in a newspaper interview on Monday.

Asked by French daily Liberation if he was discussing the entry into GDF Suez’s capital of a Chinese sovereign fund, Gerard Mestrallet said: “I did not ask for anything, I have no shares to sell. They came to see us, keen to consider a long-term minority investment … In these conditions, I say welcome.”………………….Full Article: Source

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Posted on 20 October 2009 by VRS |  Email |Print

From Economywatch.com: Although Sovereign Wealth Funds, or SWFs, still represent a small percentage of total world finance, with the Top 12 alone holding close to $3.2 trillion in assets they are big, and you can rest assured they plan on getting bigger.
With a lack of reform to western financial industries meaning that bubbles and crashes are only likely to get bigger, and with the IMF’s noble idea of being a global lender of last resort still at the ‘I Have a Dream’ stage, exporting nations will continue to build up national reserves as a safeguard against volatility, and will want to put those reserves to work…………………..Full Article: Source

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Posted on 20 October 2009 by VRS |  Email |Print

From AFP: State-linked Singapore investment firm Temasek Holdings said Monday it was planning a new 10-year bond offer as part of a capital-raising programme worth five billion US dollars.

The bonds to be issued by Temasek Financial, a wholly owned subsidiary, are “fully and unconditionally guaranteed” by its parent company, Temasek said in a statement…………………..Full Article: Source

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Posted on 20 October 2009 by VRS |  Email |Print

From Nytimes.com: Temasek Holdings, a Singapore sovereign wealth fund whose bets on Western banks helped drive its profit down 67 percent in the last year, has tapped Deutsche Bank, Goldman Sachs and Morgan Stanley to help it sell 10-year bonds in United States dollars.

The fund announced Monday that the sale will be benchmark, which typically means at least $500 million, without being more specific, Bloomberg News reported…………………..Full Article: Source

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Posted on 20 October 2009 by VRS |  Email |Print

From Bloomberg: Temasek Holdings Pte, Singapore’s government-owned investment company, raised $1.5 billion from its first bond sale in four years.

The company sold 10-year, 4.3 percent notes with help from Deutsche Bank AG, Goldman Sachs Group Inc. and Morgan Stanley that were priced to yield 95 basis points more than similar- maturity U.S. Treasuries, according to data compiled by Bloomberg…………………..Full Article: Source

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Posted on 20 October 2009 by VRS |  Email |Print

From Responsible-investor.com: Just two of the world’s huge sovereign wealth funds (SWFs) – many of which derive their assets from oil and fossil fuel revenues – have taken steps to diversify into renewable energy, according to a report by RiskMetrics Group.
It found that with the exception of the Norwegian Government Pension fund [GPFG ] “none of the SWFs so far has committed to a strategic set of social and environmental investments, though there are a few isolated ‘green shoots’…………………..Full Article: Source

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Posted on 20 October 2009 by VRS |  Email |Print

From Reuters: Australia’s Future Fund reveals that the fund’s mixed asset portfolio (excluding Telstra holding) returned 5.6 percent in the third quarter.
The fund has just over 10 percent in Australian equities, 22.8 percent in global equities. Safer instruments dominate, with debt holdings at 24 percent and cash at 31 percent…………………..Full Article: Source

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Posted on 20 October 2009 by VRS |  Email |Print

From Dow Jones: Australia’s Future Fund said Monday that it saw a return of 5.6% for the three months to Sep. 30, excluding its stake in Telstra Corp. (TLS), boosted by improved market conditions.

In a statement, the Future Fund–which was set up by the Australian government to fund government employee pensions–said that it had A$64.25 billion worth of assets at the end of the reporting period, including its A$4.3 billion stake in Telstra…………………..Full Article: Source

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Posted on 20 October 2009 by VRS |  Email |Print

From Reuters: A bid for Sainsbury may not be imminent, but its property assets, growth plans and uncertainty over the intentions of its top investor could keep it a focus of speculation, and its stock in demand.

Shares in Britain’s third-biggest supermarket group leapt as much as 20 percent on Thursday as chatter swirled that its largest investor, Qatar’s sovereign wealth fund, was mounting a new takeover bid after a previous attempt failed in 2007…………………..Full Article: Source

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Posted on 20 October 2009 by VRS |  Email |Print

From Forexhound.com: China’s foreign-exchange reserves, the world’s biggest, surged as an economic recovery attracted speculative capital and a weak dollar boosted valuations of its yen and euro assets.

The holdings climbed about $141 billion in the third quarter to a record $2.273 trillion, the People’s Bank of China said today on its Web site. That was less than the unprecedented $178 billion gain in the second quarter…………………..Full Article: Source

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