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Sovereign Wealth Funds Briefing 09.Sep 2010

Posted on 09 September 2010 by VRS |  Email |Print

From Reuters: South Korea plans to inject more than $5 billion into Korean Investment Corp (KIC) next year as the soverign wealth fund looks to extend overseas partnerships and boost investments, a government official said.
The $35 billion Korean fund, set up in 2005 to help manage assets entrusted by the government and the Bank of Korea, is one of the world’s smallest state wealth funds. In comparison, China Investment Corp (CIC) has some $300 billion in assets……………………………………….Full Article: Source

Posted on 09 September 2010 by VRS |  Email |Print

From Theaustralian.com.au: Future Fund chairman David Murray has called for the government to adopt transparent, private-sector expenditure disciplines as a way of stopping politicians from conducting an “auction” for their votes.
Lamenting the high cost of bids by Labor and the Coalition to secure power, Mr Murray said the outcome, where Julia Gillard was elected on Tuesday with the support of two independents, was “very bad for fiscal discipline”……………………………………….Full Article: Source

Posted on 09 September 2010 by VRS |  Email |Print

From Reuters: Singapore’s sovereign fund GIC’s logistics unit is launching an initial public offering which could raise up to $3 billion with investor education to begin on Thursday and roadshows starting Sept 23, a source with knowledge of the deal said.
The IPO for Global Logistic Properties, potentially the biggest ever in Singapore since Singapore Telecommunications had a S$4 billion listing in 1993, will likely be priced on Oct 8, the source said……………………………………….Full Article: Source

Posted on 09 September 2010 by VRS |  Email |Print

From China.org.cn: China Investment Corp (CIC), the nation’s sovereign wealth fund, has got applications from over 63,000 candidates for the positions it advertised recently, according to information available from its website.
The company started the global hiring process on July 27 for 64 vacant positions in departments such as asset allocation and private equity investment. It is also the third time that the CIC has embarked on a hiring spree after it was established in 2007……………………………………….Full Article: Source

Posted on 09 September 2010 by VRS |  Email |Print

From Institutionalinvestor.com: “The most fascinating thing about the investment business today is that people will agree on the micro facts, but they hesitate to add it all up,” Mohamed El-Erian recently told a rapt audience of sovereign wealth fund officials.
As CEO and co-CIO of $1 trillion asset management giant Pacific Investment Management Co., El-Erian urged the group to embrace new ways of approaching the markets……………………………………….Full Article: Source

Posted on 09 September 2010 by VRS |  Email |Print

From Efinancialnews.com: Europe’s giants, such as the $476bn Norwegian sovereign wealth fund, the $300bn Dutch civil servants’ pension fund ABP, and the $112bn Danish national scheme ATP, were helped both by their home currencies appreciating against the US dollar, and by a generally more equities-heavy investment strategy.
The consultants also wrote: “One notable performer was the Canadian Pension Plan which, after having dropped to 23rd in the rankings in 2009 after a 30% decline in assets, rose to 12th in this year’s ranking after a 41% gain.”………………………………………Full Article: Source

Posted on 09 September 2010 by VRS |  Email |Print

From Radioaustralia.net.au: Environmental groups are urging investment funds to follow the lead of Norway’s state pension fund and boycott a leading Malaysian logging company. The Norwegian government says its own enquiries found Samling Global was responsible for extensive and repeated breaches of forestry regulations in Sarawak state.
International NGOs hope the Norwegian decision will force the Malaysian government to scrutinise Samling and its logging operations more closely……………………………………….Full Article: Source

Posted on 09 September 2010 by VRS |  Email |Print

From WSJ: Asia’s foreign-exchange reserves hit an all-time high in August, according to Dow Jones Newswires calculations, driven by strong inflows attracted by the region’s growth rates and central bank intervention to contain currency appreciation.
Reserves held by 11 Asian central banks, excluding China’s, amounted to $2.875 trillion at the end of August, up from $2.861 trillion at the end of July, a 0.5% rise……………………………………….Full Article: Source

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