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Sovereign Wealth Funds Briefing 09.Jun 2010

Posted on 09 June 2010 by VRS |  Email |Print

From Reuters: China’s sovereign wealth fund gained 11 percent last year, but this year will be challenging, given the volatility in global markets, the fund’s chief risk officer said on Tuesday.
Last year’s gains for the fund, excluding its domestic arm, exceeded 17 percent, making 2009 “a good year for us,” said Jesse Wang, China Investment Corp (CIC)’s executive vice president, who was speaking at an Asian banking conference hosted by the San Francisco Federal Reserve Bank………………………………………..Full Article: Source

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Posted on 09 June 2010 by VRS |  Email |Print

From Bloomberg: China’s $300 billion sovereign wealth fund is asking the government for more funds after a 10 percent mark-to-market loss in May and June amid the European debt crisis, said Executive Vice President Jesse Wang.
“We believe the overall recovery is on track,” Wang of China Investment Corp. said at a conference in San Francisco yesterday. “We still anticipate the S&P 500 will go to 1,250” and may do so “before the end of the year.” The Standard & Poor’s 500 index has fallen 4.8 percent this year to 1,062………………………………………..Full Article: Source

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Posted on 09 June 2010 by VRS |  Email |Print

From Marketwatch.com: A senior official with China’s massive sovereign-wealth fund said Tuesday that while 2009 was good for the nation’s market investments, this year is proving to be tough, according to reports.
In rare public comments, China Investment Corp.’s Executive Vice President Jesse Wang said recent corrections in Western markets had peeled off one-tenth of the fund’s value………………………………………..Full Article: Source

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Posted on 09 June 2010 by VRS |  Email |Print

From Winnipegfreepress.com: A $1.25-billion investment from a deep-pocketed Chinese sovereign wealth fund brings more than just cash to Penn West Energy Trust, company executives said Tuesday.
“The big thing is simply their size and their reach,” chief executive officer Bill Andrew told reporters after the company’s annual shareholders’ meeting………………………………………..Full Article: Source

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Posted on 09 June 2010 by VRS |  Email |Print

From Reuters: An executive with the Agricultural Bank of China on Wednesday dismissed as “nonsense” reports that two state shareholders — the Ministry of Finance and Central Huijin — were pushing it to postpone its planned share issue due to weak market conditions. Central Huijin is the domestic arm of the country’s sovereign wealth fund.
The Hong Kong-based South China Morning Post on Wednesday cited two unidentified sources involved in the offering as saying AgBank’s government shareholders wanted AgBank to postpone its listing as it was having a difficult time drumming up interest in the sale………………………………………..Full Article: Source

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Posted on 09 June 2010 by VRS |  Email |Print

From WSJ: India is negotiating a US$2-billion fund ($2.8-billion) with Singapore investment company Temasek Holdings for infrastructure projects in the world’s second-fastest growing major economy, India’s Minister for Road Transport and Highways said.
“It’s a good investment opportunity, and they are looking at it,” Mr Kamal Nath said an interview with Dow Jones Newswires. “They have to look at whether they fund individual projects or set up some holding structures.”……………………………………….Full Article: Source

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Posted on 09 June 2010 by VRS |  Email |Print

From Business-standard.com: The National Stock Exchange (NSE) board will discuss the appointment of a new director when it meets on June 11. Sources said NSE would have a nominee on its board from Temasek Holdings, Singapore’s sovereign fund that recently picked up the five per cent stake held by the New York Stock Exchange (NYSE) in the exchange.
The name doing the rounds is Manish Kejriwal, senior managing director of investments, international and India, Temasek, who will replace NYSE Euronext’s Chief Operating Officer Lawrence Leibowitz on the board………………………………………..Full Article: Source

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Posted on 09 June 2010 by VRS |  Email |Print

From Channelnewsasia.com: The Government Investment Corporation of Singapore (GIC) has reduced its stake in the Manila-listed drinks bottler, Pepsi-Cola Products Philippines.
Pepsi Philippines disclosed this in a filing to the Philippine Stock Exchange. GIC cut its stake over March and April, selling some 36 million shares to bring its stake from almost 6 per cent to 4.9 per cent………………………………………..Full Article: Source

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Posted on 09 June 2010 by VRS |  Email |Print

From Zawya.com: The Libyan Investment Authority has bought a 3.01 per cent stake in Pearson, the educational publisher and owner of the Financial Times, in the sovereign wealth fund’s most prominent investment to date in a UK-listed company.
Pearson announced the stake on Monday after the LIA, which was already on its register with a slightly smaller holding, took its stake a fraction above the 3 per cent level at which it must be disclosed………………………………………..Full Article: Source

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Posted on 09 June 2010 by VRS |  Email |Print

From Chinadaily.com.cn: Until a couple of years ago, few laymen had ever heard of Sovereign Wealth Funds (SWFs), and others had not bothered that much. But such funds have actually been in existence for more than half a century.
As this financial species continues to multiply, and the pool of their total resources keeps swelling, their visibility could hardly escape the radar screen of the general public, particularly in developed recipient countries………………………………………..Full Article: Source

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