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Sovereign Wealth Funds Briefing 23.Oct 2009

Posted on 23 October 2009 by VRS |  Email |Print

From Chinadaily.com.cn: China Investment Corporation (CIC), the nation’s $200-billion sovereign wealth fund, will speed up the pace of investment across a broad range of sectors to capitalize on the long-term investment value created by the global financial crisis, the People’s Daily reported yesterday, citing CIC Chairman Lou Jiwei.

CIC invested just $4.8 billion outside China last year as it kept its powder dry during the global financial crisis, when asset prices tumbled…………………….Full Article: Source

Posted on 23 October 2009 by VRS |  Email |Print

From Reuters: France’s FSI strategic investment fund will take part in a 17 million euros ($25 million) capital raising for web video share site Dailymotion, the Gallic rival of Google Inc’s YouTube.

The money raised will be used to accelerate Dailymotion’s expansion, notably abroad, the FSI said in a statement on Thursday…………………….Full Article: Source

Posted on 23 October 2009 by VRS |  Email |Print

From Forbes: Norway’s $458 billion wealth fund rejected on Thursday proposals increasing government say over its investments in the wake of huge losses suffered by Europe’s largest equity investor during the financial crisis.
The central bank-run fund said in a letter to the Norwegian government that the proposed changes were too detailed, could lead to bad decision making, blur the lines of responsibility and even trigger a massive erosion of asset value…………………….Full Article: Source

Posted on 23 October 2009 by VRS |  Email |Print

From Pionline.com: Norges Bank Investment Management, which oversees the 2.546 trillion Norwegian kroner ($456 billion) Government Pension Fund-Global, Oslo, said today that the Ministry of Finance would be overstepping its bounds if proposed regulations on how the fund is managed were implemented.……………………Full Article: Source

Posted on 23 October 2009 by VRS |  Email |Print

From Theaustralian.news.com.au: Four years after being appointed chairman of the Future Fund, David Murray is making it clear that he wants the $64 billion fund to run its own race, to deliver the best investment performance well away from any undue influence from the corridors of power in Canberra.

Speaking at the Australian Institute of Company Directors lunch in Sydney yesterday, the former Commonwealth Bank chief executive, a veteran of the delicate dance between business and government, made several things clear…………………….Full Article: Source

Posted on 23 October 2009 by VRS |  Email |Print

From Bloomberg: Australia needs improvements in productivity to avert a quickening of inflation, according to David Murray, chairman of the nation’s A$64.3 billion ($59.5 billion) sovereign wealth fund.

“The only way out for governments is productivity improvement,” he said in a speech today to business leaders in Sydney. “If that’s not done, then we will run a huge risk of inflation.”……………………Full Article: Source

Posted on 23 October 2009 by VRS |  Email |Print

From Marketwatch.com: Singapore’s state-owned investment fund Temasek Holdings Pte Ltd. is seeking to invest around $1.8 billion in the next few months in China, India, Mexico and Brazil, according to a media report Thursday.

The fund is currently vetting proposals from investment teams on how it could put the money to work, with the size of the investment to rise if a major opportunity comes along, The Wall Street Journal reported Thursday, citing people familiar with the situation…………………….Full Article: Source

Posted on 23 October 2009 by VRS |  Email |Print

From Pressrun.net: Someone up there is looking after Temasek Holdings. How else could the Singapore sovereign wealth fund raise $1.5 billion in global bond sales while investors were once again reminded of its Barclays bungle?

Qatar made a killing on Barclays unlike Temasek Holdings, reminds Reuters. It says:……………………Full Article: Source

Posted on 23 October 2009 by VRS |  Email |Print

From Punchng.com: The Chairman, Revenue Mobilisation, Allocation and Fiscal Commission, Mr. Hamman Tukur, has warned against regular withdrawals from the Excess Crude Account.

The RMAFC boss who gave the warning on Wednesday night in Abuja when Governor of Edo State, Mr. Adams Oshiomhole, visited him, noted that the Excess Crude Account, which is the country‘s savings, had been drawn down from $27bn to about $7bn…………………….Full Article: Source

Posted on 23 October 2009 by VRS |  Email |Print

From Reuters: Invest AD invests on behalf of the Abu Dhabi Investment Council, Abu Dhabi’s second sovereign wealth fund after the Abu Dhabi Investment Authority.

The global economic crisis and the lack of liquidity led to a steep drop in private equity activity across emerging markets…………………….Full Article: Source

Posted on 23 October 2009 by VRS |  Email |Print

From Bloomberg: Qatar’s sovereign wealth fund is “unlilkely” to bid for J Sainsbury Plc, BofA Merrill Lynch Global Research said.

Qatar “may be more flush with cash having crystallized 1.4 billion pounds of its Barclays” stake, analysts wrote in a report. “But we see speculation that it may bid for the rest of Sainsbury as non-credible.” ……………………Full Article: Source

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