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Sovereign Wealth Funds Briefing 03.Aug 2010

Posted on 03 August 2010 by VRS |  Email |Print

From Financialstandard.com.au: The Alaska Permanent Fund returned nearly 12 per cent for the financial year to June, 2 per cent higher than its target return due to its non-government bond and US stock investments.
The sovereign wealth fund (SWF) returned 11.8 per cent for the financial year to record a $36 billion closing balance……………………………………….Full Article: Source

Posted on 03 August 2010 by VRS |  Email |Print

From Ktuu.com: Alaska residents can expect their Permanent Fund Dividend checks to be similar to last year’s, according to an estimate from the Anchorage Daily News.
The newspaper is estimating the amount of the dividend to be $1,200 to $1,300. That would make this year the first in about 15 years where the dividend check will be almost unchanged……………………………………….Full Article: Source

Posted on 03 August 2010 by VRS |  Email |Print

From Trend.az: Budget revenues of the State Oil Fund of the Republic of Azerbaijan (SOFAZ) for the period of January-June, 2010 reached 6 101.2 million manats, while budget expenditures constituted 2 630.2 mln. manats, SOFAZ reported on August 2.
Revenue of 6 089.3 mln. manats was received from implementation of oil and gas agreements, including 6 000.1 mln. manats from the sale of profit oil and gas, 83.2 mln. manats from State share in the Heydar Aliyev Baku-Tbilisi-Ceyhan (BTC) Main Export Pipeline, 4.3 mln. manats as transit payments, 0.9 mln. manats from sale of assets received from foreign companies and 0.8 mln. manats as acreage payments……………………………………….Full Article: Source

Posted on 03 August 2010 by VRS |  Email |Print

From Reuters: BP Plc has asked Kuwait’s sovereign wealth fund to raise its share in the company to three percent, the al-Anba newspaper reported on Monday.
Quoting a Kuwait Investment Authority official it did not identify by name, the paper said BP’s outgoing chief executive, Tony Hayward, made the offer in a telephone call to the KIA which owns 1.75 percent of BP……………………………………….Full Article: Source

Posted on 03 August 2010 by VRS |  Email |Print

From Bloomberg: Kuwait Investment Authority, the country’s sovereign wealth fund, did not receive any offer from BP Plc to increase its stake in the company.
The wealth fund was commenting in an e-mailed statement on a report in Al-Anba newspaper that BP’s outgoing Chief Executive Officer Tony Hayward asked Kuwait Investment Authority to raise its stake to 3 percent to protect the company against any takeover attempts……………………………………….Full Article: Source

Posted on 03 August 2010 by VRS |  Email |Print

From Frenchtribune.com: The world’s biggest sovereign wealth fund, the Abu Dhabi Investment Authority (ADIA) is to make bid for the Channel Tunnel high-speed rail link, jointly with Morgan Stanley and private equity group 3i.
The sale, which is expected to bring 1.5 billion to 2 billion pounds, will to use to support Britain’s huge debt pile. The deadline for submitting an offer for the first round of bids is 17 August……………………………………….Full Article: Source

Posted on 03 August 2010 by VRS |  Email |Print

From Efinancialnews.com: China sovereign wealth fund is strengthening its internal infrastructure to enable it to manage more assets in house, following a trend by state-owned funds of dropping third-party managers in favour of cheaper home-grown investment teams.
China Investment Corporation, which was launched in 2008 to manage the country’s $1.3 trillion (€1 trillion) currency surpluses, said in its annual report last week that it had significantly bolstered its internal investment management staff with a view to bringing more assets under its own supervision……………………………………….Full Article: Source

Posted on 03 August 2010 by VRS |  Email |Print

From Dow Jones: China Investment Corp. continued to unload shares of Morgan Stanley (MS), recently selling another $70.4 million of the stock, according to a filing with the U.S. Securities and Exchange Commission.
Since July 21, CIC has sold 16.8 million shares of the investment bank for proceeds of $466.8 million. The sovereign wealth fund may be selling the stock to keep its ownership stake under 10% to avoid closer regulatory scrutiny……………………………………….Full Article: Source

Posted on 03 August 2010 by VRS |  Email |Print

From Tribalfootball.com: The Daily Mail says Huang is in negotiation with the Royal Bank of Scotland to take control of Liverpool. Kenny Huang, partnered by one of the biggest sovereign wealth funds in the Far East, wants to take over the reins from Tom Hicks and George Gillett by the end of the transfer window.
Huang approached key figures at Anfield last month in an attempt to avert a summer exodus of players……………………………………….Full Article: Source

Posted on 03 August 2010 by VRS |  Email |Print

From Bloomberg: Khazanah Nasional Bhd., Malaysia’s state investment company, hired three banks to advise on the sale of Singapore dollar- denominated sukuk, a person familiar with the matter said on July 28.
A “few companies” are looking to sell notes in Singapore that adhere to the religion’s ban on interest, the authority known as MAS said, without specifying the names……………………………………….Full Article: Source

Posted on 03 August 2010 by VRS |  Email |Print

From Assetinternational.com: The incoming Finance Minister Juan Carlos Echeverry said that Columbia will have a sovereign wealth fund (SWF) this year to focus on investment instruments abroad.
The incoming finance minister is studying how the fund will be managed, indicating that it could be controlled by the central bank or another state institution. The SWF’s focus on foreign investment instruments would help to thwart the rise of the peso by lowering the impact of petrodollars coming into Columbia……………………………………….Full Article: Source

Posted on 03 August 2010 by VRS |  Email |Print

From Risk.net: Growing participation in fixed income by pension funds and sovereign wealth funds with ethical mandates is spurring interest in socially responsible credit investment.
Intensifying interest from pension funds and sovereign wealth funds could lead to higher demand for ethical credits, as funds with ‘socially responsible investment’ mandates turn to fixed income as a steadier alternative to equity markets……………………………………….Full Article: Source

Posted on 03 August 2010 by VRS |  Email |Print

From AP: South Korea’s foreign currency reserves rose to a record high in July, enlarging the country’s buffer against economic turmoil following a sharp decrease during the global financial crisis.
The reserves totaled $285.96 billion at the end of July, up $11.74 billion from $274.22 billion the previous month, the Bank of Korea said Tuesday in a statement……………………………………….Full Article: Source

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