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Sovereign Wealth Funds Briefing 07.Jun 2010

Posted on 07 June 2010 by VRS |  Email |Print

From Xinhua: The Abu Dhabi Investment Authority (ADIA) of the United Arab Emirates (UAE) has been ranked as the largest sovereign wealth funds (SWFs) in the world, with total assets under management of 627 billion U.S. dollars.
Saudi Arabia’s Sama Foreign Holdings and Kuwait Investment Authority (KIA) also ranked among the top 10 global SWFs, Emirates Business 24/7 said, citing the recent ranking by the Sovereign Wealth Fund Institute, a private corporation headquartered in the United States…………………………………………Full Article: Source

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Posted on 07 June 2010 by VRS |  Email |Print

From Business24-7.ae: According to the recent top 50 global SWFs ranking by the Sovereign Wealth Fund Institute (SWFI), a private corporation headquartered in the US, Abu Dhabi Investment Authority (Adia), Saudi Arabia’s Sama Foreign Holdings and Kuwait Investment Authority (KIA) are ranked among the top 10 global sovereign wealth funds (SWFs).
Adia, Sama Foreign Holdings and KIA are the only three SWFs from the GCC to rank among the top 10 global SWFs. Overall, Adia is ranked at the top of the list having the highest assets under management of $627 billion (Dh2.3 trillion)…………………………………………Full Article: Source

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Posted on 07 June 2010 by VRS |  Email |Print

From Thepeninsulaqatar.com: Kuwait’s sovereign fund is not considering exiting its investment in BP and believes the energy giant’s future is not threatened by the Gulf of Mexico oil spill.
Quoting sources it did not identify by name, Al Rai daily said the Kuwait Investment Authority (KIA) currently has no fears that would prompt it to sell its 1.75 percent stake in BP…………………………………………Full Article: Source

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Posted on 07 June 2010 by VRS |  Email |Print

From Tradearabia.com : Bahrain-based diversified investment holding company Mumtalakat Holding has secured ‘A’ ratings from two of the world’s leading credit rating agencies, Fitch Ratings and Standard & Poor’s (S&P).
Both Fitch Ratings and S&P have equalized Mumtalakat’s credit rating to that of the Kingdom of Bahrain, the company said in a statement…………………………………………Full Article: Source

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Posted on 07 June 2010 by VRS |  Email |Print

From Todayonline.com: The current bid by Malaysian sovereign wealth fund, Khazanah Nasional, to gain control of Singapore healthcare provider Parkway Holdings at $3.78 a share or a total investment of $1.18 billion, will pit it against India’s Fortis Healthcare, a company controlled by Malvinder and younger brother Shivinder Singh.
The Singh brothers, who sold their stake in generic drugs manufacturer Ranbaxy for a reported US$4 billion ($5.6 billion) to Japan’s Daiichi Sankyo a couple of years ago, had only moved into Parkway in March by buying over American buyout firm TPG Capital’s 23.9-per-cent stake at $3.56 a share, or some $960 million in total…………………………………………Full Article: Source

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Posted on 07 June 2010 by VRS |  Email |Print

From Cnbc.com : Carlyle Group co-founder David Rubenstein said on Friday that he expects a greater share of capital invested in private equity to come from sovereign wealth funds, particularly from China. Rubenstein forecast that such investors will look back at the latest financial crisis and view private equity as one of the better performing alternative asset classes.
“They see that when you look across the alternative investment landscape, private equity probably did better during this period of time than many other alternative forms of investment,” Rubenstein said, speaking at the Super Return U.S. private equity conference…………………………………………Full Article: Source

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Posted on 07 June 2010 by VRS |  Email |Print

From Mariettatimes.com: China Investment Corporation (CIC), the world’s largest sovereign-wealth fund established by Chinese central government, has generated a lot of worries and hostilities in the West, where CIC has been splashing its cash and acquiring businesses here and there.
The McKinsey Global Institute now forecasts a dramatic increase in the assets of Chinese and Asian sovereign-wealth funds over the next few years. It predicts that Asia’s total sovereign assets, which at the end of 2007 stood at $4.6 trillion, could increase to as much as $12.2 trillion by 2013…………………………………………Full Article: Source

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Posted on 07 June 2010 by VRS |  Email |Print

From Mineweb.com: Worries over eurozone debt burden and fears of a possible resurgence of inflation are driving investors to an asset class traditionally perceived as a safe haven.
“People are looking for somewhere to put their money. They are looking at gold as an alternative currency exposure,” says Nicholas Brooks, head of research and investment strategy at ETF Securities, an exchange traded product provider…………………………………………Full Article: Source

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Posted on 07 June 2010 by VRS |  Email |Print

From Bloomberg: Norway’s sovereign wealth fund won’t exclude companies from Israel, which raided aid-laden ships bound for Gaza, from its portfolio because it doesn’t set ethical rules based on nationality, the Finance Ministry said.
“It’s not in keeping with the ethical guidelines to exclude all companies located in a particular geographic area or country,” the ministry said in a statement on its website today. “If we exclude companies due to their presence in a region, or because of a particular nationality, the fund would be perceived as a foreign policy instrument.”………………………………………..Full Article: Source

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Posted on 07 June 2010 by VRS |  Email |Print

From Financialstandard.com.au: In an unprecedented intervention into the political war around the government’s mining tax proposal, the chairman of the public sector Future Fund said the tax should be re-designed or scrapped.
David Murray, Future Fund chairman, told Business Spectator magazine last week that the structure and objective of the tax is flawed. “It’s a long-term tax being applied to a short-term purpose,” he said…………………………………………Full Article: Source

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Posted on 07 June 2010 by VRS |  Email |Print

From AFP: The foreign assets of OPEC member Kuwait swelled to $277 billion at the end of the fiscal year to March 31, up from $238 billion a year earlier. The United Nations Conference on Trade and Development (UNCTAD) said in its 2009 World Investment Report that Kuwait sovereign wealth fund assets shrank by $94 billion last year due to the economic meltdown.
But KIA categorically denied the report without providing any figures…………………………………………Full Article: Source

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