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Sovereign Wealth Funds Briefing 17.Nov 2010

Posted on 17 November 2010 by VRS |  Email |Print

From Gulf-times.com: The Qatar Investment Authority (QIA) has reportedly invested $5.5bn in the first half of this year, accounting for a quarter of total sovereign wealth funds’ investments, according to Monitor Group, which tracks the sovereign wealth funds (SWFs).
“Among the SWFs, the QIA once again proved the most willing to make large investments. The QIA made 14 publicly reported investments with a value of $5.5bn, the most notable being the Raffles Hotel in Singapore and Harrods, the luxury London department store,” said Monitor Group in its ‘SWF Investment Behaviour Semi-annual Report: January-June 2010’……………………………………….Full Article: Source

Posted on 17 November 2010 by VRS |  Email |Print

From Compassnewspaper.com: In what looked like a shocking revelation, the Excess Crude Account was drawn down from N3 trillion (about $20 billion) to N174 billion (about $1.16 billion), within the spate of three years.
The revelation was made at the weekend by the Minister of State for Finance, Yabawa Wabi, who announced the lodgement of some $387.2 million into the Excess Crude Account……………………………………….Full Article: Source

Posted on 17 November 2010 by VRS |  Email |Print

From Euractiv.com: Prior to the crisis, Sovereign Wealth Funds had sometimes been seen as the tools of governments acting extraterritorially to further opaque foreign policy aims. But the role of SWFs in recapitalising the financial sector, particularly in emerging economies, has begun to transform this image.
Kazakhstan’s own fund, Samruk-Kazyna, took an 81% stake in the country’s largest bank, BTA, helping it to restructure with the assistance of US and UK advisers. As well as managing the wealth of the country’s vast natural resources, Samruk has a specific mandate to attract investment and drive modernisation within Kazakhstan……………………………………….Full Article: Source

Posted on 17 November 2010 by VRS |  Email |Print

From Alternativenews.org: Norway’s Government Pension Fund Global recently divested from two Israeli companies, Africa Israel Investments and Danya Cebus, due to involvement in the construction of Israeli settlements in the West Bank, and leading Norwegian artists and academics have recently launched a petition calling for the cultural and academic boycott of Israel.
Norway responded to Israel’s criticism saying that the Norwegian government supports freedom of expression and will not be intervening in the arts……………………………………….Full Article: Source

Posted on 17 November 2010 by VRS |  Email |Print

From Businessweek.com: The Reserve Fund, one of the country’s two sovereign wealth funds, shrank 31 percent in dollar terms this year to $41.8 billion as the government tapped the stockpile to finance Russia’s second deficit since 1999.
Russia is scaling back borrowing as yields on its ruble-denominated debt head for their biggest monthly increase since April and the government turns to a sovereign wealth fund to finance the budget……………………………………….Full Article: Source

Posted on 17 November 2010 by VRS |  Email |Print

From Reuters: Property group Lend Lease and Singapore sovereign wealth fund GIC were behind an informal approach for about A$17 billion ($16.6 billion) of assets owned by Centro and its affiliate Centro Retail Group. Centro has not commented on the report.
Centro nearly collapsed under the weight of its debts in 2007 at the height of the global financial crisis, but won multiple reprieves from its lenders……………………………………….Full Article: Source

Posted on 17 November 2010 by VRS |  Email |Print

From Smh.com.au: NSW public sector superannuation fund First State Super and Victoria’s Health Super have agreed to merge to create a fund worth more than $28 billion. Due diligence is under way after the two funds signed a heads of agreement, with a targeted merge date of June next year.
If successful, the merger will see the creation of a fund with more than $28 billion in funds under management and about 750,000 members, making it one of the five largest super funds in Australia……………………………………….Full Article: Source

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