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Sovereign Wealth Funds Briefing 11.Feb 2010

Posted on 11 February 2010 by VRS |  Email |Print

From Business24-7.ae: With emerging markets outpacing developed economies and recovering from global recession faster than developing economies, many sovereign wealth funds are focusing their attention and thus their investment strategies towards these countries.

“In our experience, sovereign wealth funds are increasingly focusing on emerging market equities at the expense of large-cap stocks in the United Kingdom, the United States and Europe. In part this is because emerging markets look more attractively valued,” Rob Lay, Head of Mena, Europe and Alternatives at Baring Asset Management, said………………………………….Full Article: Source

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Posted on 11 February 2010 by VRS |  Email |Print

From WSJ: Temasek Holdings Pte. Ltd. has set up an investment company called Seatown Holdings Pte. Ltd. as part of its effort to partner more with outside investors.

Charles Ong, senior managing director and chief strategist for Temasek, will be the new company’s chief executive. Temasek, one of the world’s largest sovereign-wealth funds, didn’t provide further details Wednesday………………………………….Full Article: Source

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Posted on 11 February 2010 by VRS |  Email |Print

From Reuters: Temasek has set up a multi-billion dollar investment company, in what may be a small step towards allowing ordinary Singaporeans greater say in the affairs of the city-state’s wealth fund as co-investors.

The shift for tightly controlled Temasek comes after it faced a barrage of criticism last year on soured investments in the West, where it lost billions backing banks such as Merrill Lynch and Barclays………………………………….Full Article: Source

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Posted on 11 February 2010 by VRS |  Email |Print

From FT Alphaville: Temasek, Singapore’s state investment firm, often moves in mysterious ways – not all of them lucrative, although the low-key sovereign wealth fund (which prefers being called an “investment agency”) has made enough shrewd moves over the years to maintain an enviably large war-chest of about $121bn- not least its move in November to sell its first ever tranche of 30-year bonds.

In its last annual report, in September, Temasek said it had an annual return of 16 per cent since its inception in 1974, down from the 18 per cent it reported August 2008 but still not a bad performance considering the investment environment………………………………….Full Article: Source

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Posted on 11 February 2010 by VRS |  Email |Print

From WSJ: CIC Chairman Lou Jiwei has signaled 2010 will be another learning year for the Chinese sovereign wealth fund — and that the Western market can be a good school.
In an article that ran in the Century Weekly magazine earlier this week, Lou pledged to let its own in-house portfolio managers test the waters more often in the world’s more developed markets, although he still wants to rely more on external managers for deals in emerging markets………………………………….Full Article: Source

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Posted on 11 February 2010 by VRS |  Email |Print

From Ifaonline.co.uk: China Investment Corporation, the Chinese sovereign wealth fund, is using ETFs to gain exposure to a diverse range of asset classes, according to a filing with the US Securities and Exchange Commission.

The filing, which details the fund’s $9.6bn in US-listed assets, shows CIC has around 25% of this money in ETFs. These funds provide exposure to a range of asset classes, including investment in individual countries, emerging markets, and commodity sectors………………………………….Full Article: Source

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Posted on 11 February 2010 by VRS |  Email |Print

From Juneauempire.com: The Alaska Permanent Fund’s investments returned 3.3 percent for the second quarter of Fiscal Year 2010, according to reports issued Monday.

The fund ended on Dec. 31 with a value of $34.6 billion, according to the Alaska Permanent Fund Corporation, which manages the money………………………………….Full Article: Source

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Posted on 11 February 2010 by VRS |  Email |Print

From Calgaryherald.com: With a $1.7 billion increase in spending and a record deficit of $4.7 billion, the provincial budget tabled Tuesday does nothing to assuage the concerns of fiscal conservatives that Alberta has a bad addiction to spending. If not for its rainy-day Sustainability Fund, the province would be falling back into debt and slashing spending drastically.
Alberta’s $13.8 billion Heritage Fund, operated as an endowment, remains untouched………………………………….Full Article: Source

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Posted on 11 February 2010 by VRS |  Email |Print

From Businessweek.com: SBI Holdings Inc. plans to build on its $3 billion in private-equity investments with a venture capital fund to tap growth in Asian companies making advances in solar power, electricity-storage and water treatment.

The fund expects to raise 30 billion yen ($330 million) this year from global investors including sovereign wealth funds such as Temasek Holdings Pte and Masdar Clean Tech Fund of Abu Dhabi, said Takashi Nakagawa, a director of Tokyo-based SBI. It will target an internal rate of return of 25 percent to 30 percent, Nakagawa, 46, said in an interview on Feb. 8………………………………….Full Article: Source

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Posted on 11 February 2010 by VRS |  Email |Print

From Khaleejtimes.com: Abu Dhabi-based Aabar Investments Company, has agreed to invest $20 million for shares in the US aviation company XOJET Inc. Couple of days back, Abu Dhabi Investment Authority, or ADIA, considered to be the world’s largest sovereign wealth fund has purchased a significant stake in London’s second-biggest Gatwick Airport.

XOJET is a private airline company that offers private jet services to business and leisure travelers in the US and to various other destinations………………………………….Full Article: Source

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Posted on 11 February 2010 by VRS |  Email |Print

From Indiatimes.com: State-linked indebted conglomerate Dubai World intends to officially ask creditors for a standstill on $22 billion in debt this month, until it completes restructuring, an Arabic-language daily said on Wednesday.

Citing banking sources in creditor banks, UAE’s Al Ittihad said restructuring might require a period of six months………………………………….Full Article: Source

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Posted on 11 February 2010 by VRS |  Email |Print

From Albawaba.com: The Public Inestment Fund (PIF) issued its approval to contribute 20 percent of the new home finance company’s total capital of SAR 2 billion. This represents the single largest investment in a mortgage company in the history of PIF.
The Islamic Corporation for the Development of the Private Sector (ICD), a member of the Islamic Development Bank Group, is currently attracting founding sponsors for the new home financing company and are scheduled to close remaining investment by end of February 2010………………………………….Full Article: Source

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Posted on 11 February 2010 by VRS |  Email |Print

From Allafrica.com: The final report of the Auditor General on the National Social Security Fund (NSSF) has cleared African Alliance, a brokerage company, of any wrong-doing.

The draft report by the Kenyan audit firm, KPMG, had indicated that African Alliance and Crane Financial Services were involved in losses amounting to sh27b………………………………….Full Article: Source

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Posted on 11 February 2010 by VRS |  Email |Print

From Theedgemalaysia.com: The DAP says Khazanah Nasional’s investment of 300 million yuan (USD44 million or RM150 million) in Oriental University City Ltd (OUCL) in Hebei Province, China raises more questions than confidence.

DAP national publicity secretary Tony Pua had on Thursday, Feb 11 queried Khazanah’s investment role, strategy and philosophy following its recent acquisition of a 10% stake in OUCL for RMB300 million or RM150 million………………………………….Full Article: Source

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