Sat, Dec 20, 2014
A A A
Welcome preal121
RSS
Sovereign Wealth Funds Briefing 08.Oct 2010

Posted on 08 October 2010 by VRS |  Email |Print

From WSJ: Global Logistic Properties, a real estate unit of sovereign-wealth fund Government of Singapore Investment Corp., has priced its initial public offering at the top end of its indicative range in a listing that could raise up to 3.9 billion Singapore dollars (US$3 billion), people familiar with the situation said Friday.
The IPO has priced at 1.96 Singapore dollar per share, the people told Dow Jones Newswires, which is at the top of the indicative 1.78 to 1.96 Singapore dollar price range set out in the property group’s preliminary prospectus released last week……………………………………….Full Article: Source

Posted on 08 October 2010 by VRS |  Email |Print

From Reuters: Singapore sovereign wealth fund GIC’s logistics unit has priced its initial public offer at the top end of the range, S$1.96 per share, sources said on Friday.
The final price means GIC could raise S$3.9 billion ($2.95 billion) if it exercises the greenshoe option, making it the city-state’s second-biggest IPO……………………………………….Full Article: Source

Posted on 08 October 2010 by VRS |  Email |Print

From Bloomberg: Global Logistic Properties Ltd. is set to raise S$3.45 billion ($2.64 billion) in Singapore’s biggest initial public offering since 1993, three people with knowledge of the matter said.
Shares in GLP, the overseas logistics unit of Government of Singapore Investment Corp., were priced at S$1.96 a share, the top end of a range marketed to investors, the people said on condition of anonymity……………………………………….Full Article: Source

Posted on 08 October 2010 by VRS |  Email |Print

From Financialexpress.com: Temasek Holdings, the investment arm of the Singapore government, is bullish on the growth prospects in India.
The company which has been an active player in India since its inception over six years ago with returns ranging between 20% and 35%, has decided to take a plunge into new portfolios such as infrastructure (roads, ports), healthcare, retail, auto components, micro finance, old generation private sector banks for long-term investments, said Manish Kejriwal, senior managing director and country head, Temasek Holdings Advisors India Private Ltd……………………………………….Full Article: Source

Posted on 08 October 2010 by VRS |  Email |Print

From Bloomberg: Prime Minister Naoto Kan’s cabinet endorsed a 5.1 trillion yen ($62 billion) stimulus plan for Japan. While the plan emphasizes using the stronger currency to support overseas projects, it doesn’t propose the creation of a sovereign wealth fund, mentioned in a ruling party draft submitted to the government two days ago.
The Ministry of Finance is opposed to the idea of using Japan’s $1.1 trillion in foreign exchange reserves as a source of capital for such a fund, the Nikkei newspaper said today, citing unidentified ministry officials……………………………………….Full Article: Source

Posted on 08 October 2010 by VRS |  Email |Print

From IPE: The governor of Norges Bank, the Norwegian central bank and the chief executive of Norges Bank Investment Management (NBIM), which manages the assets of Norway’s Government Pension Fund-Global (GPFG), have written a letter to the ministry of finance outlining ways of improving the overall strategy of the fund by including less liquid asset classes such as private equity and infrastructure.
In the letter, Svein Gjedrem, the central bank’s governor, and Yngve Slyngstad, head of NBIM, said the recent turmoil in financial markets might warrant a “fresh assessment” of the basis for the current rules……………………………………….Full Article: Source

Posted on 08 October 2010 by VRS |  Email |Print

From Reuters: A French state-backed investment fund has ditched its shares in office lunch vouchers business Edenred after a dispute with hotels giant Accor over the future of the recently listed firm.
Sovereign investment fund FSI said it had sold its entire 6.8 percent stake in the company, which provides meal services and vouchers on behalf of companies to their employees, for 227 million euros ($317.5 million)……………………………………….Full Article: Source

Posted on 08 October 2010 by VRS |  Email |Print

From Gulf-times.com: The French government has renewed talks with Qatar’s sovereign fund QIA about French state-controlled nuclear engineering firm Areva’s planned 15% capital increase, French business weekly La Tribune reported yesterday, citing unspecified sources.
Qatar is one of the three potential investors for Areva’s capital increase, along with Kuwait’s sovereign fund KIA and Japan’s Mitsubishi Heavy Industries Ltd, La Tribune said……………………………………….Full Article: Source

Posted on 08 October 2010 by VRS |  Email |Print

From Azonano.com: Kazakhstan’s sovereign wealth fund Samruk-Kazyna omned Kazyna Capital Management, Russia’s VTB Capital, international asset management group I2BF and the Russian Corporation of Nanotechnologies (RUSNANO) have signed a Memorandum of Understanding to create the Russian-Kazakhstan Nanotechnology Venture Fund, RUSNANO announced.
Kazyna Capital Management and RUSNANO will be the anchor investors in the project, and will each contribute $25 million……………………………………….Full Article: Source

Posted on 08 October 2010 by VRS |  Email |Print

From Newsminer.com: With Alaska Permanent Fund dividends making their way into people’s direct deposit accounts today, some Fairbanks nonprofits are crossing their fingers in anticipation for the end of the month. That’s when they will find out if being a part of the Pick. Click. Give. program paid off.
Pick. Click. Give. began in 2009 as a test program. People were allowed to donate a portion of their dividends to organizations of their choice, as long as the groups were enrolled in the program. It yielded 7,572 donations (some people donated to more than one organization) and $545,000……………………………………….Full Article: Source

Posted on 08 October 2010 by VRS |  Email |Print

From WSJ: Brazilian central bank President Henrique de Campos Meirelles said Thursday that a combination of U.S. policies, European economics and China’s fixed exchange rate has led to major distortions in currency markets. Addressing Brazil’s recently launched sovereign wealth fund, Meirelles said its investment policies have not yet been decided.
Quantitative easing and historically low interest rates in the U.S. have generated high liquidity, weakening the dollar against other currencies. At the same time, excess liquidity is flowing into countries such as Brazil as the euro is weighed down by debt problems in the European Union and China is controlling its foreign exchange rate……………………………………….Full Article: Source

Posted on 08 October 2010 by VRS |  Email |Print

From Ibtimes.com: The official foreign-currency reserve assets of Hong Kong amounted to $266.1 billion at the end of September, up $4.7 billion from a month ago, the Hong Kong Monetary Authority (HKMA) announced on Thursday.
There were no unsettled forward contracts at the end of September nor August, HKMA said in a statement ………………………………………Full Article: Source

Posted on 08 October 2010 by VRS |  Email |Print

From Bloomberg: South Africa’s gross reserves climbed 2.2 percent in September as the gold price rose and a weaker dollar boosted the value of euro, pounds and other currency holdings, the central bank said.
Gold and foreign currency reserves increased to $44.07 billion from $43.1 billion in August, the Pretoria-based Reserve Bank said on its website today. Net reserves jumped 4.3 percent to $40.85 billion on an increase in longer-term foreign exchange swaps……………………………………….Full Article: Source

Posted on 08 October 2010 by VRS |  Email |Print

From Businessdayonline.com: In considering the design of an appropriate SWF and in light of the above mentioned considerations, and drawing on international best practice and past experience, key design elements would include: a) Fully integrating the SWF with the budget and fiscal framework. b) Governance, transparency, disclosure, accountability and asset management rules based on international best practice (for example, Norway’s Government Pension Fund - Global and Australia’s Future Fund).
c) Ensure proper surveillance and oversight by Parliament; including regular audits by reputable internationally recognized firms, and regular disclosure of SWF assets and liabilities, operating performance, risks, and investments, and any other relevant information for public disclosure……………………………………….Full Article: Source

See more articles in the archive

banner
banner
December 2014
M T W T F S S
« Nov    
1234567
891011121314
15161718192021
22232425262728
293031