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Sovereign Wealth Funds Briefing 14.Sep 2010

Posted on 14 September 2010 by VRS |  Email |Print

From Gulfnews.com: Sovereign wealth funds (SWF) are exploiting their overseas investments to contribute to economic development back home. “In conversation with several Middle East SWFs, they see themselves almost as sovereign development funds,” said Nuno Fernandes, professor of finance at Swiss business school IMD.
This may take the form of inviting investee companies to market their products in the home market, influencing decisions about where to site offshored production facilities, building joint ventures with the companies in the home market, or acquiring intellectual capital to develop a new domestic industry……………………………………….Full Article: Source

Posted on 14 September 2010 by VRS |  Email |Print

From Bloomberg: Norway’s sovereign wealth fund said it’s taking advantage of volatility to generate better returns as Europe’s largest equity investor adds risk.
“If you look at what has happened during the financial crisis, a fund like ours actually came through it quite well and that to some extent increased our risk capacity and our risk willingness,” Yngve Slyngstad, head of Norges Bank Investment Management, said………………………………………Full Article: Source

Posted on 14 September 2010 by VRS |  Email |Print

From Bloomberg: Norway’s Prime Minister Jens Stoltenberg said he doesn’t expect Greece to default after the country’s sovereign wealth fund said its long-term investment horizon allowed it to buy up the debt-laden country’s bonds.
“The International Monetary Fund assessment is that they are on track,” Stoltenberg said today in an interview in Oslo. “Of course, they have a long way to go, but they are on track; they have started the adjustments.” Asked whether he expects the country to default he answered “no.”………………………………………Full Article: Source

Posted on 14 September 2010 by VRS |  Email |Print

From Reuters: Nigerian President Goodluck Jonathan said on Monday he had sent a bill to parliament to create a sovereign wealth fund and that federal and state governments had set aside $1 billion in seed capital.
Africa’s biggest oil producer wants to establish the fund to divert more of its revenues towards badly-needed infrastructure development, save for future generations, and set aside a financial reserve to weather any economic downturns……………………………………….Full Article: Source

Posted on 14 September 2010 by VRS |  Email |Print

From AFP: Nigerian President Goodluck Jonathan said Monday he has proposed legislation aimed at improving the country’s handling of its oil revenue by creating a special fund for savings and infrastructure.
The announcement comes ahead of January elections and follows a list of proposals from Jonathan related to the country’s poor infrastructure, including plans to remake the country’s woefully inadequate power sector……………………………………….Full Article: Source

Posted on 14 September 2010 by VRS |  Email |Print

From Albawaba.com: Abu Dhabi financial services firm Invest AD (majority-owned by the Abu Dhabi Investment Council, a regionally-focused sovereign wealth fund for the emirate of Abu Dhabi) and Japan’s SBI Holdings Inc. (SBI) are establishing a new fund management company to invest in Africa, starting with a fund of up to $100 million.
The new fund, seeded equally by Invest AD and SBI, will focus on Nigeria, Ghana, Kenya, Egypt, Tunisia and Morocco. It will invest in several sectors, including banking, mining, consumer products and manufacturing, through listed equities, initial public offerings (IPOs), as well as pre-IPO and unlisted equity……………………………………….Full Article: Source

Posted on 14 September 2010 by VRS |  Email |Print

From Bloomberg: The Future Fund, an Australian sovereign wealth fund, said General Manager Paul Costello will leave at the end of this year.
The board will conduct a search for a replacement, considering candidates from Australia and overseas, the Future Fund said in a statement on its website……………………………………….Full Article: Source

Posted on 14 September 2010 by VRS |  Email |Print

From Totaltele.com: The head of the Future Fund, David Murray, has expressed concerns about the lack of transparency around Telstra Corp.’s deal with NBN Co. over the Australian government’s planned A$43 billion national broadband network.
Murray told the newspaper the fund was “in the dark” about Telstra’s deal with NBN Co., which the company values at A$11 billion, and said Telstra “has got to keep the market informed”……………………………………….Full Article: Source

Posted on 14 September 2010 by VRS |  Email |Print

From Newsminer.com: Gov. Sean Parnell plans to announce next week the size of Permanent Fund dividend checks that Alaskans can expect. The announcement is scheduled for Sept. 21 in Juneau.
Most Alaskans get a yearly dividend, paid from investment profits from the state’s multibillion-dollar oil-wealth savings account……………………………………….Full Article: Source

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