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Sovereign Wealth Funds Briefing 13.Oct 2010

Posted on 13 October 2010 by VRS |  Email |Print

From Reuters: Sovereign wealth funds, which manage windfall revenues for future generations, are set to double their assets in less than 10 years to $7 trillion. Following is a chronology of some of the key events for sovereign wealth funds.
1953 - Kuwait Investment Authority is set up with the aim of investing surplus oil revenues to reduce the reliance of Kuwait on oil resource……………………………………….Full Article: Source

Posted on 13 October 2010 by VRS |  Email |Print

From Nikkei: Global Logistic Properties Ltd. will offer shares in Japan ahead of a listing next Monday on the Singapore bourse. The real estate subsidiary of the Government of Singapore Investment Corp. on Tuesday announced plans to publicly offer around 102 million shares in Japan, or slightly more than 5% of what it plans to sell. It expects to generate around 12 billion yen from this portion.
The company’s stock offering in Japan would be the first by a Singapore-based concern since communications firm StarHub’s share sale in 2004. The stock will be offered on Wednesday and Thursday, with Nomura Securities Co. serving as the lead underwriter……………………………………….Full Article: Source

Posted on 13 October 2010 by VRS |  Email |Print

From WSJ: Standard Chartered PLC plans to conduct a rights issue and Singapore’s state-owned investment company Temasek Holdings Pte. Ltd. may take part, a person familiar with the situation said Wednesday.
An announcement on the rights issue could come later Wednesday, the person said. Temasek Holdings is the largest shareholder in the U.K.-based bank with a 19% stake……………………………………….Full Article: Source

Posted on 13 October 2010 by VRS |  Email |Print

From WSJ: Malaysian sovereign-wealth fund Khazanah Nasional Bhd. has raised around MYR1.18 billion (US$380 million) from the placement of 147 million shares in CIMB Group Holdings Bhd., lowering its stake in the Southeast Asian banking group to 29.0% from 31.01%, a person familiar with the deal said Tuesday.
The shares, representing around 2% of CIMB’s issued and paid-up share capital, were placed at MYR7.99 each to investors mainly in Asia and Europe, the person said……………………………………….Full Article: Source

Posted on 13 October 2010 by VRS |  Email |Print

From Xinhua: Central Huijin Investment Ltd., an arm of China’s sovereign wealth fund, has finished the first round of increasing stake in China Construction Bank (CCB) and it intended to continue increasing its CCB shareholdings, said the bank on Tuesday.
In a statement filed with the Hong Kong stock exchange, the Shanghai- and Hong Kong-list lender said Central Huijin could continue buying CCB shares on the secondary market in the following 12 months……………………………………….Full Article: Source

Posted on 13 October 2010 by VRS |  Email |Print

From Mydigitalfc.com: Best Investment Corporation, the wholly owned subsidiary of China Investment Corporation, one of the world’s biggest sovereign funds, has entered India. It has become the second government-owned fund from China to have presence in the Indian stock markets.
Sebi has recently given Beijing-based Best Investment Corporation the foreign institutional investor (FII) licence. The registration is valid till the middle of 2013……………………………………….Full Article: Source

Posted on 13 October 2010 by VRS |  Email |Print

From Nzherald.co.nz: The New Zealand Superannuation Fund is close to naming a manager who will begin investing directly in local farms on its behalf.
The $17.2 billion state-owned fund has plans to acquire more prime New Zealand assets including rural land, state-owned enterprises, small high-growth companies and iwi businesses……………………………………….Full Article: Source

Posted on 13 October 2010 by VRS |  Email |Print

From Bloomberg: National Pension Service, South Korea’s biggest state fund, has bought Chevron Corp.’s stake in Colonial Pipeline Co. in partnership with Kohlberg Kravis Roberts & Co. to diversify its investment portfolio.
The South Korean fund has purchased a 23.44 percent stake in the operator of the largest pipeline linking U.S. Gulf Coast refiners and East Coast markets, National Pension said in an e- mailed statement today, without disclosing the transaction value……………………………………….Full Article: Source

Posted on 13 October 2010 by VRS |  Email |Print

From Abc.az: The State Oil Fund of Azerbaijan (SOFAZ), according to world’s leading economists, is to be one of the bases of a new form of capitalism. Discussion titled “Sovereign funds and long-term investments: a new form of capitalism?” has been held at Columbia University with participation of George Soros, Nobel Prize winners in economics, heads of major banks and investment funds.
According to their estimates, the size of sovereign wealth funds in the next few years will grow up to $10-12 trillion from current $3.8 trillion, and it will be comparable to GDP of the world’s largest economy - the United States……………………………………….Full Article: Source

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