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Sovereign Wealth Funds Briefing 29.Nov 2010

Posted on 29 November 2010 by VRS |  Email |Print

From Emirates247.com: Strong crude prices allied with a recovery in global markets to boost the combined assets of sovereign wealth funds (SWFs) in Gulf oil exporters by nearly $81 billion in 2010 and the wealth is expected to swell further in 2001, according to a key Western financial institution.

The Abu Dhabi Investment Authority (ADIA), one of the world’s largest SWFs, is projected to gain around $30 billion at the end of 2010 while other government funds in the region will record sharp rises in assets, the Washington-based Institute of International Finance (IIF) said in its quarterly report…………………………………….Full Article: Source

Posted on 29 November 2010 by VRS |  Email |Print

From Emirates247.com: Sovereign wealth funds (SWFs) need to enhance transparency following a landmark agreement with the IMF two years ago in a bid to assuage fears about their operations in host countries, a Norwegian minister has said.

Jonas Gahr Store, Minister of Foreign Affairs, said a voluntary code of conduct announced by most world SWFs and their 2008 accord with the International Monetary Fund are only a first step towards more transparency…………………………………….Full Article: Source

Posted on 29 November 2010 by VRS |  Email |Print

From Bloomberg: Norway’s $500 billion Government Pension Fund Global, the world’s second-largest sovereign wealth fund, should invest in riskier assets to take full advantage of its long-term outlook, an advisory group recommended.

The panel, headed by Elroy Dimson, an emeritus professor at the London Business School, said the investor should be more “pro-actively contrarian” since it’s not obliged to deliver a 4 percent return every year, “or even every decade,” according to a report by the Strategy Council released today in Oslo…………………………………….Full Article: Source

Posted on 29 November 2010 by VRS |  Email |Print

From Standartnews.com: Bulgaria and Kuwait to found a joint company for investments in agriculture in Bulgaria was agreed between Bulgaria’s minister of Agriculture and Foods Miroslav Naydenov and the head of Kuwait Investment Authority Bader Al-Saad, Ministry of Agriculture announced.
However, the final decision will be taken by the governments of the two countries. It is expected PM Boyko Borissov and the Emir of Kuwait Sabah Al-Jaber Al Sabah to sigh an agreement during the visit of the emir to Sofia in March 2011…………………………………….Full Article: Source

Posted on 29 November 2010 by VRS |  Email |Print

From Gulf-times.com: Lusail City, Qatar’s largest real estate development project, is going to be a fully functional and integrated city of future. “Intrinsically grounded in history and culture, Lusail City’s master plan is a true reflection of the values of Qatar, project developer Qatar Diar’s chief corporate improvement officer Mohamed al-Hamadi said. Qatari Diar, fully owned by the Qatar Investment Authority, currently has 35 projects under development in more than 20 countries.
Comprising 37sq km of waterfront land master planned into 19 integrated and diverse mixed-use districts, Lusail City is to accommodate about 200,000 residents, would have 165,000 workers, and attract 80,000 visitors…………………………………….Full Article: Source

Posted on 29 November 2010 by VRS |  Email |Print

From WSJ: Singapore’s state-owned investment company Temasek Holdings will buy US$50 million of Huaneng Renewables shares, while State Grid International Development Ltd. will invest US$60 million in shares, the person said. Bank of China Investment Ltd. will subscribe for US$30 million of shares.

Huaneng Renewables plans to list shares on the Hong Kong stock exchange on Dec. 16, following its IPO, according to a term sheet seen earlier by Dow Jones Newswires…………………………………….Full Article: Source

Posted on 29 November 2010 by VRS |  Email |Print

From Financeasia.com: The Qatar Investment Authority and the Kuwait Investment Authority both participated as cornerstones in the H-share portion of Agricultural Bank of China’s IPO in July and the Kuwait Investment Authority had a similar role in AIA Group’s initial share offering in October.

The other cornerstones on the CRCB offering are: Hong Kong-based fund manager Value Partners, which is taking $80 million of shares; Cheng Yu-tung’s Chow Tai Fook; and Taiwan banking group Fubon. The latter two are each buying $30 million worth of shares…………………………………….Full Article: Source

Posted on 29 November 2010 by VRS |  Email |Print

From Tvnz.co.nz: The New Zealand Superannuation Fund has reported its third straight monthly gain in October, growing $454.9 million. The so-called Cullen Fund, named for its architect Labour Finance Minister Michael Cullen, made a 2.7% return last month, made up mostly from turnarounds in its cash, collateral and currency hedging programmes.

Established to partially fund the universal pensions of an ageing population, the fund’s investment in global bonds grew to $1.33 billion from $1.12 billion in September…………………………………….Full Article: Source

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