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Sovereign Wealth Funds Briefing 19.Mar 2010

Posted on 19 March 2010 by VRS |  Email |Print

From Komfie Manalo, Opalesque Asia: The Abu Dhabi Investment Authority (ADIA), one of the largest sovereign wealth funds in the world, has allocated as much as 10% of its estimated $425 in assets to hedge funds and managed funds, the firm said in its 2009 annual report.

The report provided little details about the fund, but it also marks the first time that ADIA revealed some transparency over its portfolio. ADIA has long kept secret the size of its assets and gives very little information in its annual report, even as banks and other fund managers continue to try to find ways to gain allocations to manage portions of its multi-billion dollar portfolios………………………………..Full Article: Source

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Posted on 19 March 2010 by VRS |  Email |Print

From IPE: The investment returns of the Abu Dhabi Investment Authority (ADIA) amounted to 8% annualised in dollar terms over the 30 years to end-December 2009, and 6.5% over 20 years. This is according to the authority’s first annual report since its inception in its present form in 1976.
To the end of 2008, the 30-year return was slightly less, at 7.6%, while the 20-year return amounted to 6.1%……………………………….Full Article: Source

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Posted on 19 March 2010 by VRS |  Email |Print

From Domain-b.com: Constantly being out bid by sovereign fund-backed rival China for overseas energy acquisitions, despite foreign exchange reserves of $283.5 billion, India has finally realised the need to have a sovereign wealth fund to help its oil companies make much needed energy acquisitions overseas.
Such a fund would have proved valuable in acquiring foreign resources when the value of hydrocarbon assets had plunged due to the recession, with oil falling to a low of around $42 a barrel in late 2008 and early 2009………………………………..Full Article: Source

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Posted on 19 March 2010 by VRS |  Email |Print

From Gulfnews.com: Citigroup has operated in the Arab world for almost 50 years and the Gulf came to the rescue of the embattled bank in the early stages of the credit crunch when the sovereign wealth funds of Abu Dhabi and Kuwait pumped billions into the US-based lender.

However, the relationships with two of the world’s largest institutional investors have since soured………………………………..Full Article: Source

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Posted on 19 March 2010 by VRS |  Email |Print

From Trend.az: So far, about $2bln was invested in the Azerbaijani transport sector with a view to its development, Azerbaijani Transport Minister Ziya Mammadov said. Construction on the Georgian territory is financed by the State Oil Fund of Azerbaijan.
It is financed by a loan allocated to Georgia to the amount of $ 200 million………………………………..Full Article: Source

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Posted on 19 March 2010 by VRS |  Email |Print

From Topnews.ae: The crisis hit Dubai World has been heading for completing its restructuring plans worth $26 billion debt according to Sheikh Ahmad Bin Saeed Al Maktoum, the Chairman of the Dubai Supreme Fiscal Committee.

He said that soon a positive outcome is coming that will help to reinstate investors confidence that was lost due to Dubai World’s failure to meet its financial obligations. He declined to further divulge the matter given to its financial importance. He said that Dubai would soon achieve its past glories and achieve new heights of growth after completing the restructuring process………………………………..Full Article: Source

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Posted on 19 March 2010 by VRS |  Email |Print

From WSJ: “The biggest thought is, we wanted to make sure we grouped assets so we understood why we owned them and what we expected them to do in various scenarios,” says Michael Burns, chief executibe of Alaska’s $35 billion Permanent Fund Corp., which changed its categories for assets last year.
Public pensions are increasingly asking a question that has haunted investors since the financial crisis: When is an alternative investment really more of the same?……………………………….Full Article: Source

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Posted on 19 March 2010 by VRS |  Email |Print

From Allafrica.com: The Federal Government has started dipping its hands into the revenue accrued into the excess crude account to offset its pilling debt of oil subsidy owed marketers, Daily Trust investigation has revealed.

Earlier, it was thought that the Nigerian National Petroleum Corporation (NNPC) was paying the subsidy claims of marketers on government’s behalf………………………………..Full Article: Source

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Posted on 19 March 2010 by VRS |  Email |Print

From WSJ: Chile’s President Sebastian Pinera said he is looking to dip into the country’s sovereign wealth fund, secure foreign credit and implement fiscal austerity.
There is also talk, however, his government will raise taxes, including the royalty on copper mining companies, and it will seek to increase the cap on local sovereign bond issues to around $10 billion from the existing $6 billion limit set by Congress for this year………………………………..Full Article: Source

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Posted on 19 March 2010 by VRS |  Email |Print

From Commodityonline.com: Vietnam’s foreign-currency reserves declined about 35 percent to around $15 billion by the end of last year. The holdings have dropped from $23 billion at the end of 2008.
Vietnam’s sources of foreign currency fell last year after the country posted a deficit of $12.25 billion and direct investment pledges from abroad declined more than 64 percent to $21.5 billion………………………………..Full Article: Source

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