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Sovereign Wealth Funds Briefing 27.Sep 2010

Posted on 27 September 2010 by VRS |  Email |Print

From Gulfnews.com: Lack of confidence in financial markets has driven investors and funds away from corporations. As balance sheets deteriorate, companies are in need of more and more capital, which investors are not willing to provide. In this setting, sovereign wealth funds (SWFs) have emerged as the funding source of the next decade.
SWFs manage more than $3 trillion (Dh11 trillion). To put this figure into perspective, the hedge fund and private equity markets combined account for less than $2 trillion. Some estimates suggest that SWFs will manage more than $10 trillion by 2015……………………………………….Full Article: Source

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Posted on 27 September 2010 by VRS |  Email |Print

From Moneymanagement.com.au: Australia should establish a Sovereign Wealth Fund to secure its future wealth and prosperity, according to Investec Asset management global strategist, Michael Power.
Power said that the Sovereign Wealth Fund should be created in addition to the existing Future Fund but, instead, be funded out of foreign capital inflows and not occasional government surpluses……………………………………….Full Article: Source

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Posted on 27 September 2010 by VRS |  Email |Print

From China Knowledge: China Investment Corp, the country’s US$300-billion sovereign wealth fund, will subscribe US$25 million worth of shares in the initial public offering of Sunac China Holding Ltd, a Chinese property firm, sources reported.
Sunac China plans to issue up to US$385 million in IPO on the Hong Kong Stock Exchange. It will raise up to HK$2.99 billion through issuing as many as 750 million shares……………………………………….Full Article: Source

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Posted on 27 September 2010 by VRS |  Email |Print

From Compassnewspaper.com: At last, after much delay and resentment by the state governors, the Federal Government and the state governments have agreed to the setting up of a National Sovereign Wealth Fund. A bill to establish the Fund has also been sent to the National Assembly by President Goodluck Jonathan.
A National Sovereign Wealth Fund is an investment fund owned by a country. It is usually composed of financial assets such as hard currencies, investments in high quality stocks, bonds, property, gold bars, precious metals or other financial instruments……………………………………….Full Article: Source

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Posted on 27 September 2010 by VRS |  Email |Print

From Balkans.com: Greece has signed a preliminary deal with Qatar’s sovereign wealth fund that could clear the way for investments of up to $5 billion in the indebted European country, officials said Friday.
A memorandum of understanding was signed in New York on Thursday by a Qatar Investment Authority executive, Ahmad Al-Sayyed, and Harris Pamboukis, Greece’s state minister in charge of investment……………………………………….Full Article: Source

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Posted on 27 September 2010 by VRS |  Email |Print

From Indiatimes.com: Norway’s central bank is suing Citigroup for alleged non-disclosure of financial risks at the time when Norwegian sovereign wealth funds were used to purchase securities issued by the US lender prior to the global financial crisis.
Norges Bank alleges that it lost USD 835 million because Citi failed to fully reveal the financial risks it was facing, particularly from investments in sub-prime mortgages, British daily The Financial Times reported, citing a lawsuit filed in New York……………………………………….Full Article: Source

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Posted on 27 September 2010 by VRS |  Email |Print

From Smh.com.au: The Gulf emirate of Abu Dhabi has benefited greatly from Canada’s interest in listed toll-road companies. Especially from the recent takeover bid for Intoll Group by the Canada Pension Plan Investment Board.
The $600-odd billion Abu Dhabi sovereign wealth fund’s head of infrastructure, Chris Koski, worked at the CPPIB until 2007……………………………………….Full Article: Source

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