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Sovereign Wealth Funds Briefing 01.Mar 2010

Posted on 01 March 2010 by VRS |  Email |Print

From Businessspectator.com.au: Australia’s sovereign wealth fund, the Future Fund, is open to joint offers for listed companies with other superannuation funds in both Australia and overseas, the fund’s general manager Paul Costello says.

Mr Costello said it made sense for the Future Fund to form partnerships with super funds and pension funds because they involved “like-minded companies with, generally, shared values”…………………………………….Full Article: Source

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Posted on 01 March 2010 by VRS |  Email |Print

From Theaustralian.com.au: Future Fund boss Paul Costello has performed well in his three years at the helm but still seems blissfully unaware of the fund’s impact on the stockmarket.

In a luncheon address at the Melbourne Financial Services Symposium, Costello noted some of the recent weakness in Telstra’s stock price was sheeted back to the fact that the fund is now free to sell more its 11 per cent stake in the company…………………………………….Full Article: Source

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Posted on 01 March 2010 by VRS |  Email |Print

From Arabianbusiness.com: More than 100 inquiries by creditors have been made to the Dubai World special tribunal with claims about money they believe they are owed by the conglomerate, the National reports on Sunday.

No claims have been filed as yet, the paper reports, adding that the tribunal is fully operational…………………………………….Full Article: Source

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Posted on 01 March 2010 by VRS |  Email |Print

From Businessweek.com: Morgan Stanley & Co is working on a “number” of restructuring transactions in the Middle East that involve companies selling assets to repay debtors, the bank’s regional executive director for mergers and acquisitions Peter Fort said.
Fort said sovereign wealth funds in Abu Dhabi and Qatar will continue to lead mergers and acquisitions 66 in the Middle East this year, although it will be more “regional and local” like the planned purchase of a 70 percent stake in U.A.E. construction company Arabtec Holding PJSC by Abu Dhabi- owned Aabar Investments PJSC, rather than international…………………………………….Full Article: Source

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Posted on 01 March 2010 by VRS |  Email |Print

From Telegraph: The £4bn sale of French power giant EDF’s electricity distribution network has been put back on track with first-round bids expected by the middle of March. A consortium including Australian infrastructure group Macquarie, the Canadian Pension Plan and Abu Dhabi’s sovereign wealth fund ADIA, is understood to be working on a joint £4bn bid.

Sources close to the situation said EDF, which is being advised by Deutsche Bank, Barclays Capital and BNP Paribas, sent out sale documents for the process earlier this month…………………………………….Full Article: Source

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Posted on 01 March 2010 by VRS |  Email |Print

From Imarketnews.com: The government named an administrative council for Brazil’s $9 billion Sovereign Wealth Fund, comprised of the Finance and Planning ministers and the Central Bank president and it is ready to “act in the currency market,” Treasury Secretary Arno Augustin said.

Augustin said the SWF could be used to combat volatility in the real…………………………………….Full Article: Source

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Posted on 01 March 2010 by VRS |  Email |Print

From Cri.cn: Arab capital markets in the Gulf region will not see a major recovery in 2010. The Sovereign Wealth Funds of Qatar and Abu Dhabi will, however, not stop to look for bargain investments abroad
Abu Dhabi, the wealthiest member of the seven-strong federation UAE, holds 9.1 percent in German car giant Daimler AG and aims to increase its stake to 15 percent within the next two years.
With a 10 percent stake, Qatar is the biggest shareholder at Swiss bank Credit Suisse…………………………………….Full Article: Source

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Posted on 01 March 2010 by VRS |  Email |Print

From Bi-me.com: Franklin Templeton Investments recently completed the signing of the investment management agreement, appointing it as investment manager of the Fondul Proprietatea Romanian equity assets, after being selected from among several leading asset managers.

The Fund, valued at approximately €2.4 billion1 (US$3.5 billion), was launched in December 2005 to compensate Romanians whose properties were confiscated by the country’s former communist regime…………………………………….Full Article: Source

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