Thu, Sep 18, 2014
A A A
Welcome sandeep.kottawar@wns.com
RSS
Sovereign Wealth Funds Briefing 03.Feb 2010

Posted on 03 February 2010 by VRS |  Email |Print

From People.com.cn: Sovereign wealth fund China Investment Corporation (CIC) is expected to use nearly 60 percent of the $250 billion capital it receives later this month for disbursals to foreign private equity firms and hedge funds.

The fund may lend as much as $150 billion in the first quarter to the third-party fund managers, said Michael McCormack, executive director at Z-Ben Advisors, a Shanghai-based company that provides research on China’s fund-management industry…………………………………..Full Article: Source

Podcast Play - Download this article   |   Play - Download Full Briefing   |   Subscribe to the Podcast Feed

Posted on 03 February 2010 by VRS |  Email |Print

From Bloomberg: Russia’s two sovereign wealth funds declined a combined $1.54 billion last month as the government tapped its reserves to plug a spending gap.

Russia’s Reserve Fund fell 1 percent to 1.8 trillion rubles, equivalent to $59.91 billion, in January, the Finance Ministry said in a statement distributed to reporters in Moscow today……………………………………Full Article: Source

Podcast Play - Download this article   |   Play - Download Full Briefing   |   Subscribe to the Podcast Feed

Posted on 03 February 2010 by VRS |  Email |Print

From Reuters: Russian oil wealth funds shrank by 40 percent last year to help the state fill budget gaps, data showed on Tuesday, and talk of investing them beyond currency deposits and state bonds to get higher yields has all but faded.

As of Feb. 1, the Reserve Fund and the National Wealth Fund, stood at 4.56 trillion roubles, some 3.26 trillion roubles, or $107.3 billion, down from a year ago, based on current exchange rates and data provided by the Finance Ministry……………………………………Full Article: Source

Podcast Play - Download this article   |   Play - Download Full Briefing   |   Subscribe to the Podcast Feed

Posted on 03 February 2010 by VRS |  Email |Print

From Voxeu.org: Are sovereign wealth funds substantially different in their investment choices from other types of institutional investor? This column compares the holdings of two groups of sovereign and mutual funds – and finds a few differences. But, contrary to popular belief, evidence suggests that sovereign and mutual funds’ investments do not differ when looking at the political profile of targeted countries.

Sovereign wealth funds have long provoked controversy (Hillebrand 2008, Truman 2008). The recent debate on sovereign wealth funds culminated with the promulgation of the Santiago Principles on fund transparency, investment orientation and accountability……………………………………Full Article: Source

Podcast Play - Download this article   |   Play - Download Full Briefing   |   Subscribe to the Podcast Feed

Posted on 03 February 2010 by VRS |  Email |Print

From Asiaone.com: With global markets improving in recent months, the move by the Government of Singapore Investment Corporation (GIC) to cut its equity holdings before the 2008 crash and begin buying up stocks early last year is paying off.

‘We did an assessment in 2007 when markets were over-exuberant. We de-risked the portfolio, selling part of our equities,’ Dr Tony Tan, deputy chairman of Singapore’s sovereign wealth fund, said……………………………………Full Article: Source

Podcast Play - Download this article   |   Play - Download Full Briefing   |   Subscribe to the Podcast Feed

Posted on 03 February 2010 by VRS |  Email |Print

From Efinancialcareers.hk: China Investment Corp has invested €685m into Apax Partners’ €11.2bn fund in a groundbreaking deal that could tempt other private equity groups to solicit the financial support of the Chinese sovereign wealth fund.
The move, which would also see CIC acquire a small stake in the management company of one of Europe’s biggest private equity funds, shows China is still eager to invest abroad in spite of being burned in the past……………………………………Full Article: Source

Podcast Play - Download this article   |   Play - Download Full Briefing   |   Subscribe to the Podcast Feed

Posted on 03 February 2010 by VRS |  Email |Print

From People.com.cn: China, the world’s largest metal consumer, will add to last year’s record $32 billion spending on resource acquisitions as demand for iron ore, copper and oil soars with the fastest economic growth since 2007.
China’s $300 billion sovereign wealth fund, which pumped about $10 billion into commodity-related companies in the second half of 2009, is in “early talks” for investments in Brazil, the world’s second-biggest iron ore exporter, and Mexico, Chairman Lou Jiwei said on Jan 20……………………………………Full Article: Source

Podcast Play - Download this article   |   Play - Download Full Briefing   |   Subscribe to the Podcast Feed

Posted on 03 February 2010 by VRS |  Email |Print

From Atimes.com: When Singapore’s state-run investment arm Temasek Holdings bought Thailand’s Shin Corp telecommunications conglomerate in 2006, its 73 billion baht (US$2.2 billion) acquisition of Shin Satellite was a strategic afterthought.

Temasek was known to have purchased Shin Corp from company founder and then Thai premier Thaksin Shinawatra for its exposure to Thailand’s fast-growing mobile telecom market……………………………………Full Article: Source

Podcast Play - Download this article   |   Play - Download Full Briefing   |   Subscribe to the Podcast Feed

Posted on 03 February 2010 by VRS |  Email |Print

From Icenews.is: Acting on the recommendation of the Government Pension Fund Global (GPFG), the Norwegian Ministry of Finance has announced that seventeen tobacco producing companies will be excluded from the funding scheme, with share divestment in the companies having already been completed.

“When the Graver Committee proposed the current ethical guidelines, there was debate on whether to exclude tobacco producers from the Fund. With some hesitation, it was decided that tobacco should not be excluded……………………………………Full Article: Source

Podcast Play - Download this article   |   Play - Download Full Briefing   |   Subscribe to the Podcast Feed

Posted on 03 February 2010 by VRS |  Email |Print

From Fiercefinance.com: For sovereign wealth funds, the financial crisis has been a blessing and a bane. They took some hard knocks over the course of the financial crisis. Some got stuck with some poor investments and some winners.
Last May, the Kuwait Investment Authority made a $750 million investment in asset manager BlackRock and has realized a 40 percent paper gain since then……………………………………Full Article: Source

Podcast Play - Download this article   |   Play - Download Full Briefing   |   Subscribe to the Podcast Feed

Posted on 03 February 2010 by VRS |  Email |Print

From MF-Dow Jones: Enel SpA Chief Executive Fulvio Conti said that he did meet with Chinese investors but the meeting was just routine. Conti confirmed press reports of a meeting with representatives of the Chinese sovereign wealth fund, China Investment Corp., or CIC.

According to press reports, the Chinese fund is considering investing in some Italian companies, including Enel and Assicurazioni Generali SpA……………………………………Full Article: Source

Podcast Play - Download this article   |   Play - Download Full Briefing   |   Subscribe to the Podcast Feed

Posted on 03 February 2010 by VRS |  Email |Print

From Dailymail.co.uk: Two years ago Rio Tinto’s shareholders thought they had won the pools. Shares of the world’s third largest mining group were trading well above £70 a share after BHP Billiton bid £91billion.
Qatar Holdings, the investment arm of Qatar’s sovereign wealth fund and largest shareholder with 24 per cent, is again rumoured to have lined up a cash bid of around 250p a share……………………………………Full Article: Source

Podcast Play - Download this article   |   Play - Download Full Briefing   |   Subscribe to the Podcast Feed

Posted on 03 February 2010 by VRS |  Email |Print

From FT Alphaville: The country’s biggest pension fund, the National Pension Service (NPS), is revelling in a worldwide shopping spree after nearly two decades of conservative investing, which even now sees just 10 per cent of its $240bn funds abroad — with about 77 per cent still in fixed-income holdings, almost all of them Korean.
Of course, national security and resource security is critical to Korea — and to a national pension fund, Jun acknowledged. However, he told the FT, it was important to correct any residual misconceptions that NPS was a sovereign wealth fund that would blindly-back broader government strategies:…………………………………..Full Article: Source

Podcast Play - Download this article   |   Play - Download Full Briefing   |   Subscribe to the Podcast Feed

Posted on 03 February 2010 by VRS |  Email |Print

From Ameinfo.com: Fitch Ratings has today assigned Mubadala Development Company - MDC GMTN B.V.’s (MDC) euro commercial paper programme (ECP) a Short-term rating of ‘F1+’.
The rating of the ECP is in line with Mubadala Development Company’s (Mubadala) Short-term Issuer Default Rating of ‘F1+’. The notes under the ECP will be unconditionally and irrevocably guaranteed by Mubadala……………………………………Full Article: Source

Podcast Play - Download this article   |   Play - Download Full Briefing   |   Subscribe to the Podcast Feed

Posted on 03 February 2010 by VRS |  Email |Print

From Ameinfo.com: Moody’s Investors Service has assigned a Prime-1 short term rating to the proposed Euro Commercial Paper (ECP) Programme to be issued by MDC — GMTN B.V, wholly and irrevocably guaranteed by Mubadala Development Company (Mubadala).
Notes under the programme are direct, unconditional, unsubordinated and unsecured obligations of MDC and rank pari passu among themselves and equally with all other unsecured obligations of the issuer……………………………………Full Article: Source

Podcast Play - Download this article   |   Play - Download Full Briefing   |   Subscribe to the Podcast Feed

Posted on 03 February 2010 by VRS |  Email |Print

From Dow Jones: Brazil’s foreign-currency reserves increased by $1.8 billion in January from a month earlier to their highest monthly level ever, according to figures published on the central bank’s Web site Tuesday.

Foreign reserves totaled $240.8 billion, up from $239 billion at the end of December……………………………………Full Article: Source

Podcast Play - Download this article   |   Play - Download Full Briefing   |   Subscribe to the Podcast Feed

Posted on 03 February 2010 by VRS |  Email |Print

From AP: South Korea’s foreign currency reserves swelled to a new record high in January, adding to the country’s buffer against economic and financial turmoil.

The reserves totaled $273.7 billion at the end of January, up $3.7 billion from $270 billion at the end of December, the Bank of Korea said in a statement……………………………………Full Article: Source

Podcast Play - Download this article   |   Play - Download Full Briefing   |   Subscribe to the Podcast Feed

See more articles in the archive

banner
September 2014
M T W T F S S
« Aug    
1234567
891011121314
15161718192021
22232425262728
2930