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Sovereign Wealth Funds Briefing 04.Nov 2010

Posted on 04 November 2010 by VRS |  Email |Print

From Bloomberg: Russia’s Finance Ministry excluded Ireland and Spain from a list of countries approved for bond investment by the east European nation’s two sovereign wealth funds, according to the ministry’s website.
The western European countries weren’t mentioned in a document specifying the national debt acceptable for purchase by the Reserve Fund and Wellbeing Fund, which together represent more than $130 billion, or more than half of Ireland’s $227 billion gross domestic product in 2009, according to the website……………………………………….Full Article: Source

Posted on 04 November 2010 by VRS |  Email |Print

From IPE: The governor of the Norwegian Central Bank has again called for investment guidelines on the NOK2.8trn (€351bn) Pension Fund Global (NPFG) to be relaxed, allowing it to invest in private equity.
Addressing the Norwegian Polytechnic Society, governor Svein Gjerdrem also confirmed that the country’s sovereign fund would soon make its first real estate investment in a bid to diversify……………………………………….Full Article: Source

Posted on 04 November 2010 by VRS |  Email |Print

From Favstocks.com: The Norwegian Finance Ministry has fended off criticism from the state spending watchdog about controversial performance fees paid by the country’s central bank to external fund managers that run assets for the NOK3trn (€365bn) Government Pension Fund.
The Office of the Auditor General recently issued a report to the Storting, the parliament, that was highly critical of Norges Bank Investment Management (NBIM), the arm of the central bank which runs the fund……………………………………….Full Article: Source

Posted on 04 November 2010 by VRS |  Email |Print

From Abc.az: The State Oil Fund of Azerbaijan (SOFAZ) expects that in 15 years its annual earnings from assets management will be at the level of its current transfers to the State Budget.
Fund’s executive director Shahmar Movsumov says that with a minimum asset placement profitability of 5% they can reach the level of assets management income of $6 billion a year in 15 years……………………………………….Full Article: Source

Posted on 04 November 2010 by VRS |  Email |Print

From News.az: Azerbaijan forecasts oil revenues of $200bn over the next 15 years, the head of the State Oil Fund (SOFAZ), Shahmar Movsumov, has said. He told state-run channel AzTV, “According to forecasts, Azerbaijan’s oil revenues in the next 15 years will be $200bn.”
These revenues will come from the BP-operated Azeri-Chirag-Guneshli offshore bloc……………………………………….Full Article: Source

Posted on 04 November 2010 by VRS |  Email |Print

The Abu Dhabi Investment Authority appoints James Kester as Chief Investment Officer for Private Equities. Kester will be responsible for developing ADIA’s strategy in the private equity space and overseeing the activities of the private equity programme.
He will be based in Abu Dhabi and report to Hareb Al Darmaki, Executive Director of the Private Equities Department. Kester is replacing George Sudarskis, who left the SWF to start his own private equity firm, Sudarskis & Partners. Kester joins ADIA from Zurich Asset Management in the United States, where he served as Head of Private Equity. Prior to this, he spent 6 years as Co-CEO of Allianz Private Equity Partners in Munich, Germany……………………………………….Full Press Release: Source

Posted on 04 November 2010 by VRS |  Email |Print

From Tradearabia.com: Egypt will push ahead with economic reforms in order to achieve the targeted $10 billion in foreign direct investment in the 2010-11 fiscal year, said Rachid Mohamed Rachid, the country’s minister for trade, industry and investment. He has held talks with the Abu Dhabi Investment Authority (ADIA), the emirate’s sovereign wealth fund. One of the world’s largest sovereign wealth funds, ADIA already has investments in Egypt, he said.
“We offered ADIA to participate in joint ventures in funds in Egypt and there is preliminary interest from ADIA and other investors from the UAE to invest in some projects,” he said……………………………………….Full Article: Source

Posted on 04 November 2010 by VRS |  Email |Print

From Macauhub.com.mo: Officials from China’s sovereign wealth fund, the China Investment Corporation, have revealed in Brasilia that it is interested in increasing investment in Brazil, reports the Chinese news agency Xinhua.
The delegation was recently received in Brasilia by Brazilian Finance Minister Guido Mantega, who was informed of China Investment Corp’s interest in upping investment in the industry, agriculture and renewable energy sectors, the agency added……………………………………….Full Article: Source

Posted on 04 November 2010 by VRS |  Email |Print

From Cphpost.dk: Chinese Investment Corporation is possible buyer of Danish facility service giant ISS. Denmark based facility services company ISS is considering putting itself up for sale with a price tag of 48 billion kroner, according to financial daily Børsen.
Stories of a possible sale of ISS to capital or state funds have circulated in international media in recent weeks.According to British newspaper The Daily Telegraph the leading interested party appears to be China Investment Corporation, in association with capital firm Apax Partners……………………………………….Full Article: Source

Posted on 04 November 2010 by VRS |  Email |Print

From UPI: U.S. Secretary of State Hillary Clinton told Papua New Guinea’s prime minister Wednesday the United States remains a close partner. She said, “there will have to be a commitment to good governance and accountability and transparency, and you’re taking steps to plan to do just that. The planning for a sovereign wealth fund is a very important commitment.”
Clinton met Prime Minister Michael Somare in Port Moresby. The secretary is on a seven-country, 13-day tour of Asia that includes Vietnam, Cambodia, China and Malaysia, as well as refueling stops in Guam and Pago Pago……………………………………….Full Article: Source

Posted on 04 November 2010 by VRS |  Email |Print

From Energyandcapital.com: The Alaska Permanent Fund was created in 1976, just after the North Slope began bringing oil to market. It was a great way to put money into the hands of the state’s residents.
And production was flowing. During the first half of the 1980s, Alaska’s oil production enjoyed a certain degree of success. Production was over two million barrels per day by 1988……………………………………….Full Article: Source

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