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Sovereign Wealth Funds Briefing 15.Mar 2011

Posted on 15 March 2011 by VRS |  Email |Print

From Scotsman.com: Qatar is to buy a 6.16 per cent stake in ScottishPower-owner Iberdrola for €2.2 billion (£1.9bn), helping the Spanish utility giant to finance its Brazilian operations and further diluting unwanted suitor ACS. Iberdrola, which is saddled with €24bn of debt, will issue and sell 338 million shares at €5.63 each to Qatar Holding, the state’s sovereign wealth fund.
Spanish builder ACS holds about 20 per cent of Iberdrola and plans to purchase more shares in its drive to win a seat on the utility’s board, which it is also fighting for in the courts……………………………………….Full Article: Source

Posted on 15 March 2011 by VRS |  Email |Print

From Reuters: Qatar Holding will spend 2.2 billion euros ($3.1 billion) to buy 6.16 percent of Iberdrola. June 2010 - Qatar agreed to buy Spanish football club Malaga FC for 25 million euros. Qatari royal family member Sheik Abdullah al Thani was behind the deal.
October 2010 - Qatar Holding agreed to pay up to $2.7 billion for a 5 percent stake in the Brazilian arm of Spain’s biggest bank Santander………………………………………Full Article: Source

Posted on 15 March 2011 by VRS |  Email |Print

From Business-standard.com: The Kuwait Investment Authority (KIA), an autonomous government body responsible for managing various funds for the Arab nation, said it plans to invest in education and healthcare in India.
“Kuwait Investment Authority is scouting for opportunities in education and healthcare in India,” Kuwait Ambassador S M Al-Sulaiman said at an interactive session with Bengal National Chamber of Commerce and Industry here……………………………………….Full Article: Source

Posted on 15 March 2011 by VRS |  Email |Print

From Businessday.co.za: So Zimbabwe intends setting up a sovereign wealth fund to own 51% stakes in mining companies (Zimbabwe targets majority stake in mines grab, March 10). May one ask where the financial assets to create this fund will come from?.……………………………………..Full Article: Source

Posted on 15 March 2011 by VRS |  Email |Print

From Reuters: Olusegun Aganga was a London-based managing director at U.S. investment bank Goldman Sachs, where he headed up hedge fund consulting services and looked after the bank’s business in Nigeria, before being picked by then-acting President Goodluck Jonathan to serve in the cabinet.
One of his main policy drives was to create a sovereign wealth fund to better manage Nigeria’s oil revenue, and he has also worked closely with Central Bank Governor Lamido Sanusi to help push through badly needed reforms to the banking sector and capital markets……………………………………….Full Article: Source

Posted on 15 March 2011 by VRS |  Email |Print

From Btimes.com.my: At the recent National Bank of Abu Dhabi’s Global Financial Markets Islamic Forum in Abu Dhabi, UAE, I was requested to make a presentation on an Islamic sovereign wealth fund (SWF). An appropriate topic at an appropriate jurisdiction for an appropriate audience and at the appropriate time. But why isn’t Malaysia Inc “talking up” an Islamic SWF?
An Islamic SWF, also seen as a fund-of-funds, may actually be the necessary spark to jump-start a global Islamic asset management or, in today’s hub-centric parlance, an Islamic asset management hub!………………………………………Full Article: Source

Posted on 15 March 2011 by VRS |  Email |Print

From Thestar.com.my: The successful candidate to buy Khazanah Nasional Bhd’s 32.21% stake in Pos Malaysia Bhd should not eventually load the postal company with huge debts or influence it to pay unreasonably high dividends.
Buyers’ of companies have a tendency to do this in order to repay themselves back the money they used (typically borrowed money) to buy into the target company in the first place……………………………………….Full Article: Source

Posted on 15 March 2011 by VRS |  Email |Print

From Theedgesingapore.com: Global Logistic Properties may be supported after it releases a reduced damage estimate for its 69-property Japan portfolio, after the massive earthquake that hit Japan Friday. The group — partly owned Singapore’s GIC sovereign wealth fund — estimates loss of rental income at Y890 million ($13.7 million), with the majority of repairs taking place in the next 30 days.
GLP says the total estimated cost is less than 0.6% of its Japan portfolio value; the company says: “We are committed to our shareholders and business partners to continue to monitor the situation and to report any material changes to our assessment or any significant developments.”………………………………………Full Article: Source

Posted on 15 March 2011 by VRS |  Email |Print

From Theaustralian.com.au: David Murray is clearly getting worried about his re-appointment chances at Future Fund as evidenced by the public lobbying campaign starting now. His attempt to paint his re-appointment around independence from government policy ignores suggestions that opposition is also coming from his own board.
Some members worry that Murray has adopted the Future Fund for his own profile purposes, and they would prefer a different style of chairman……………………………………….Full Article: Source

Posted on 15 March 2011 by VRS |  Email |Print

From Forbes.com: The Bank of New York Mellon created a new Sovereign Institutions Group with the focus of providing asset management and advisory services for sovereign wealth funds, sovereign pension plans, central banks, monetary authorities and other sovereign-owned entities.
BNY Mellon primarily competes with State Street, JPMorgan Chase and Citigroup in areas like providing investment servicing (asset servicing, issuer services, clearing services) and investment management services to institutional investors around the world……………………………………….Full Article: Source

Posted on 15 March 2011 by VRS |  Email |Print

From Emirates247.com: Sovereign wealth funds (SWFs) assets expanded continued to grow by 11 per cent for the second consecutive year, reaching nearly $4 trillion (Dh14.7 trillion) in 2010, according to Preqin statistics issued recently.
The proportion of SWFs investing in alternatives also rose over 2010, despite the challenging financial climate. Aggregate assets under management (AuM) of SWFs increased from $3.59tn in 2010 to $3.98tn at the start of 2011, it said……………………………………….Full Article: Source

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