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Sovereign Wealth Funds Briefing 09.Feb 2011

Posted on 09 February 2011 by VRS |  Email |Print

Christian UlbrichFrom Globest.com: The year 2011 should be good for real estate across Europe, and sovereign wealth funds are likely to be among institutions expanding investments fastest, according to Jones Lang LaSalle’s EMEA CEO Christian Ulbrich.
Ulbrich said a recent local summit that he thinks it will be a good real estate year in 2011. “Seldom have we seen so many factors that indicate a positive outcome for property over the year… Among market participants the fastest growing investor sector in the next few years is going to be sovereign wealth funds, and London and Paris are likely to profit the most.” He forecast that Europe will see more SWF deals like the purchase of the Berlin Sony Center by Korea’s National Pension Service……………………………………….Full Article: Source

Posted on 09 February 2011 by VRS |  Email |Print

From Zawya Dow Jones: Kuwait International Investment Co., or KIIC, will soon ask the local bourse to re-list its shares. Kuwait Investment Authority, the country’s sovereign wealth fund, which owns more than 31% of KIIC, will be the first to benefit from the return of KIIC’s shares to trading, Hamed Al Eiban, KIIC’s chairman, said.
KIIC’s new board will hold its first meeting next week to elect the company’s new president and new managing director and will discuss a request to the bourse’s administration to allow the company’s shares to trade again, the daily cites Eiban as saying……………………………………….Full Article: Source

Posted on 09 February 2011 by VRS |  Email |Print

From Centralasianewswire.com: The new office of the Kazakh-Tajik investment fund will open its doors on Wednesday in the Tajik capital Dushanbe. A deal was inked in November 2010 between Kazakhstan’s sovereign wealth fund, Samruk-Kazyna and GosKomInvest to create the investment fund.
The State Committee on Investment and State-owned Property Management, also known as GosKomInvest, made the announcement on Monday……………………………………….Full Article: Source

Posted on 09 February 2011 by VRS |  Email |Print

From Oilprice.com: From Israel, there is good news and bad news. The good news – and it is huge – is that Israel will soon be awash in natural gas. Indeed, Israel is set to become so rich that it is laying the groundwork for creating a sovereign wealth fund for overseas investments in order to protect the country from inflation and the shekel from getting too strong.
Indeed, Israel is set to become so rich that it is laying the groundwork for creating a sovereign wealth fund for overseas investments in order to protect the country from inflation and the shekel from getting too strong……………………………………….Full Article: Source

Posted on 09 February 2011 by VRS |  Email |Print

From Independentngonline.com: Last year, President Goodluck Jonathan emptied the Excess Crude Account, illegally, from $21 billion to $3 million. Only $1 billion capital for the Sovereign Wealth Fund was accounted for. Foreign reserves also plummeted from $51.3bn to 27.0bn, this time, legally.
CBN blamed $1.21 billion increase to $6.857bn expenses on JVC cash calls, $1.235bn decrease to $24,836.65 on forex support and petroleum imports funding, as necessitating the drawdown……………………………………….Full Article: Source

Posted on 09 February 2011 by VRS |  Email |Print

From Globalpensions.com: The New Zealand Superannuation Fund returned 4.42% in December 2010, up from -0.38% in the previous month, due to an increase in global equities. The fund’s assets increased to NZ$18.21bn ($14.12bn) at the end of the year, from NZ$17.43bn at the end of November.
Returns have fluctuated since July’s 4.76%, declining to -1.37% in August, increasing to 6.11% in September and decreasing again to 2.66% in October……………………………………….Full Article: Source

Posted on 09 February 2011 by VRS |  Email |Print

From Thestar.com: Late last month, China Investment Corp., one of the largest sovereign wealth funds in the world, opened its first representative office outside of China. Where? Not in New York, not in the U.K.’s financial heartland, but right here in Toronto, the financial capital of Canada.
The decision is a powerful symbol of the city’s growing role as a financial services hub……………………………………….Full Article: Source

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