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Sovereign Wealth Funds Briefing 26.Oct 2010

Posted on 26 October 2010 by VRS |  Email |Print

From Tribune.com.ng: The Federal Government has dedicated $1billion for the sovereign wealth fund as it set up three commercial courts to try economic offenders. The Minister of Finance, Mr Olusegun Aganga, while delivering a keynote address, on Monday, in Abuja, at the 51st annual conference of Nigeria Economic Society (NES), said that the sovereign wealth fund had three components, which included inter-generational savings for the future; stabilisation fund and infrastructural fund.

The infrastructural fund, he said, would reduce the cost of food, production and invest in infrastructure as well as served as catalyst for local and foreign investors…………………………………….Full Article: Source

Posted on 26 October 2010 by VRS |  Email |Print

From Emirates247.com: Sovereign Wealth Funds’ (SWF) global assets crossed the $4 trillion-mark for the first time in history in the third quarter this year. According to SWF Institute’s just released rankings for Q3 2010, boosted by the Norwegian Global Pension Fund-Global’s asset growth to over 3 trillion kroner ($512bn), global assets held by SWFs have now reached $4.033bn.

“The fund has grown faster and bigger than most people expected since getting its first inflow of capital in May 1996,”says Yngve Slyngstad, CEO of Norges Bank Investment Management (NBIM), which manages the fund…………………………………….Full Article: Source

Posted on 26 October 2010 by VRS |  Email |Print

From Thenational.ae: Bahrain’s state-owned aluminium producer has launched an initial public offering (IPO) that is expected to raise as much as US$541 million (Dh1.98 billion) for the country’s sovereign wealth fund, the company’s majority owner.

Mumtalakat, the state-owned investment fund, is selling an 11.5 per cent stake in Aluminium Bahrain (ALBA), which operates the second-largest smelter in the Gulf…………………………………….Full Article: Source

Posted on 26 October 2010 by VRS |  Email |Print

From Reuters: Bahraini investment house Arcapita said on Monday it made a return of 10 to 12 percent on its exit of property firm Mapletree Industrial Trust, which listed last week. Mapletree’s 940 million Singapore dollars ($722 million) initial public offering (IPO) in Singapore last week was among a string of successful IPOs of property assets in Asia recently, which also included the US$3 billion listing of Singapore wealth fund GIC’s logistics unit GFLP
Arcapita said in a statement the IPO had generated exit proceeds of US$435 million for the firm and its investors. “For stabilised real estate assets, we typically target an IRR (internal rate of return) of between 10 and 12 percent, and the return on this investment is within this range,” a spokesman for Arcapita told Reuters…………………………………….Full Article: Source

Posted on 26 October 2010 by VRS |  Email |Print

From Bloomberg: A possible Qatari bid for Christie’s International Plc would help its emir make the country into a Middle Eastern hub of the global art market, dealers said. The Qatar Investment Authority, the country’s Doha-based sovereign wealth fund, owns stakes in financial institutions including Credit Suisse Group AG and Barclays Plc. The fund paid 1.5 billion pounds for Harrods in May and invested $2.8 billion in Agricultural Bank of China Ltd.’s initial public offering in June.

Anne-France Malrieu, Artemis’s public relations spokeswoman, and the emir of Qatar’s office both declined to comment. Christie’s doesn’t comment on speculation, Matthew Paton, the company’s U.K. head of public relations, said in an interview…………………………………….Full Article: Source

Posted on 26 October 2010 by VRS |  Email |Print

From Bloomberg: Saudi Arabia’s Public Investment Fund gave a $1.3 billion loan to Saudi Aramco Total Refinery & Petrochemical Co., known as Satorp, to finance part of its 400,000 barrels-a-day Jubail refinery, the Saudi Press Agency reported.

Saudi Aramco has a 62.5 percent stake in the $5.1 billion joint venture with Total SA, which owns 37.5 percent, SPA said…………………………………….Full Article: Source

Posted on 26 October 2010 by VRS |  Email |Print

From Koreatimes.co.kr: Temasek Holdings of Singapore sold off its sizeable stake in Hana Financial because of fears that the latter’s plan to acquire Woori Financial might invite intervention by the Korean government in the merged financial provider, said a high-placed source familiar with the issue, Monday.

“Temasek was afraid the government would intervene in Hana’s management if it merged with Woori,” the source told The Korea Times on condition of anonymity…………………………………….Full Article: Source

Posted on 26 October 2010 by VRS |  Email |Print

From Btimes.com.my: Muslim countries should allocate a fraction of their sovereign funds to financial institutions which have the expertise to invest in syariah-compliant investment funds and instruments.

Perak Regent Raja Dr Nazrin Shah said one of the driving forces for Islamic finance to prosper is for large investment organisations such as sovereign wealth funds of Muslim countries to take a developmental view when determining their asset allocations…………………………………….Full Article: Source

Posted on 26 October 2010 by VRS |  Email |Print

From AhlulBayt News Agency: Malaysia urged members of the Organization of the Islamic Conference (OIC) Monday to invest in developing muslim nations by creating a sovereign wealth fund.

Malaysian Minister of Finance II Ahmad Husni Hanadzlah said in a press conference held here on the sidelines of the Islamic Finance Forum, that his country no longer sees western nations as a major investment destination. The sovereign wealth fund to be supervised by the Islamic Development Bank (IDB), aims at exploring the assets of OIC members, he explained…………………………………….Full Article: Source

Posted on 26 October 2010 by VRS |  Email |Print

From Bloomberg: AIA Group Ltd. traded 9.2 percent higher than its initial public offering price in unofficial over-the-counter trading yesterday after raising $17.8 billion in its Hong Kong IPO, according to three people with knowledge of the transactions. The Kuwait Investment Authority, Guoco Land Ltd. and Wharf Holdings Ltd. are among companies that bought stock in the IPO.

AIA’s shares last traded at HK$21.50 ($2.77) each yesterday according to “gray market” transactions brokered by Cantor Fitzgerald LP, said the people, who declined to be identified because the information isn’t public……………………………………Full Article: Source

Posted on 26 October 2010 by VRS |  Email |Print

From Newsminer.com: The Alaska Permanent Fund has a market value of $37 billion. What value do we place on Alaska’s children? I taught for 10 years in Flint, Mich. At one time, Flint schools were the envy of the nation. By partnering with the Mott Foundation in 1935, Flint Community Schools became a major factor in the life of the city through school-based educational and recreational activities. Flint has since lost General Motors and therefore, money.

Alaska has money but squirrels it away for the “future.” If only $1 billion of those dollars were divided equally among the 54 school districts in Alaska, each district would have more than……………………………………Full Article: Source

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