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Sovereign Wealth Funds Briefing 02.Feb 2010

Posted on 02 February 2010 by VRS |  Email |Print

From Bloomberg: China Investment Corp., the nation’s $300 billion sovereign wealth fund, may get at least $250 billion in extra funds before the Feb. 14 Chinese New Year, according to Z-Ben Advisors Ltd.

CIC is likely to invest the cash in the first quarter with 60 percent or more of the new funds to be allocated to third- party fund managers, according to a report distributed yesterday by Z-Ben Advisors, a Shanghai-based company that provides research on China’s fund-management industry………………………………….Full Article: Source

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Posted on 02 February 2010 by VRS |  Email |Print

Investment funds owned by national governments - known as “sovereign wealth funds” - now wield trillions of dollars in investment power globally, raising concerns that the funds could be used for political purposes and leading to calls for limits on where these funds can invest.
But new research from North Carolina State University indicates that such concerns may not be warranted, and that one of the largest sovereign wealth funds has been driven by profit, rather than political considerations…………………………………..Full Press Release: Source

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Posted on 02 February 2010 by VRS |  Email |Print

From Tradearabia.com: Saudi Arabia’s state-run Public Investment Fund (PIF) has agreed to take a 20 per cent stake in Real Estate Financing Company (Refco), a board member of the mortgage lender said.

‘PIF has agreed to take 20 per cent of Refco’s capital which currently stands at SR200 million ($53.3 million) but will be increased to SR1 billion by the time we start operations,’ the Refco board member said…………………………………..Full Article: Source

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Posted on 02 February 2010 by VRS |  Email |Print

From Ameinfo.com: Mumtalakat, Bahrain’s sovereign wealth fund, plans to diversify away from private equity projects and into stocks and bonds, Reuters has reported. Talal Al Zain told the news service that Mumtalakat expects to receive a credit rating this year, which would allow it to tap capital markets for funding, including Islamic bonds.
‘We want to diversify. We will be looking at investments across markets. Our immediate focus will be to diversify investments, channel funds more towards liquidity, that is fixed income, equity markets,’ he said…………………………………..Full Article: Source

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Posted on 02 February 2010 by VRS |  Email |Print

From Allafrica.com: Several countries have been moved to establish ‘Oil Funds’ that would engineer an economy to progress and cushion it from turbulences caused mostly by volatility of oil prices.
In Ghana, several bodies, organizations and individuals have raised the need for the government to set up an ‘Oil Fund’ that would prolong revenue generation for the benefit of posterity and for prudent management of oil wealth that the country would garner…………………………………..Full Article: Source

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Posted on 02 February 2010 by VRS |  Email |Print

From Eyeofdubai.com: RAK Investment Authority (RAKIA) is the owner of Al Marjan Island Project and appointed Rakeen Development as master developer of the same. This Project is one of the major real estate developments behind the success of Ras Al Khaimah as an investment destination and business hub.

In 2006, Mr. Frank Khoie, Chairman and CEO of Khoie Properties, approached RAKIA to purchase several plots on Al Marjan Island in order to develop its own project La Hoya Bay, which included different parts among which was the La Hoya Residence. Upon Mr. Khoie’s representations, several sale agreements were entered into by RAKIA and Khoie Properties…………………………………..Full Article: Source

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Posted on 02 February 2010 by VRS |  Email |Print

From Chinaeconomicreview.com: Goldman Sachs’s private equity unit is in talks to buy some, or all, of Axa’s 15.6% stake in Chinese insurer Taikang Life. Sovereign wealth fund Government of Singapore Investment Corp, which already owns 8% of Taikang, is also said to be interested in buying Axa’s holding.
A stake in Taikang Life offers exposure to China’s fast-growing life insurance sector as well as the prospect of an IPO exit - the company is pushing for a stock market listing…………………………………..Full Article: Source

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Posted on 02 February 2010 by VRS |  Email |Print

From Reuters: South Korea’s national pension fund is to take a 12 percent stake in London’s Gatwick airport next week for just under 100 million pounds ($159.3 million), the Financial Times reports in its Tuesday edition.

Gatwick, London’s biggest airport after Heathrow, was bought last year by Global Infrastructure Partners, a private equity fund controlled by Credit Suisse and General Electric Co…………………………………..Full Article: Source

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