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Sovereign Wealth Funds Briefing 21.Mar 2011

Posted on 21 March 2011 by VRS |  Email |Print

Norway’s state pension fund, one of the world’s largest sovereign wealth funds, posted a 9.6 percent return last year thanks to the economic recovery, said Norway’s central bank, which manages the fund. The fund weighed some 3,077 billion kroner (389.4 billion euros, US$543.8 billion) at the end of 2010.
That was an annual increase of 437 billion kroner, a figure which consists of new oil revenues as well as returns on the existing fund……………………………………….Full Article: Source

Posted on 21 March 2011 by VRS |  Email |Print

Yngve SlyngstadNorway’s sovereign wealth fund, the world’s second largest, rose 264 billion kroner ($47 billion) last year as a recovery in global growth and corporate profits spurred a second year of gains in stocks.
The Government Pension Fund Global returned 9.6 per cent, adding to 26 per cent gain in 2009, as measured by a basket of currencies, the Oslo-based investor said yesterday. The $548 billion fund’s stock holdings returned 13.3 per cent, while its bond investments climbed 4.1 per cent……………………………………….Full Article: Source

Posted on 21 March 2011 by VRS |  Email |Print

Norway’s sovereign wealth fund, Europe’s largest equity investor, will maintain its target of a 4-percent real return on assets despite low bond yields, its chief said.
“In total it’s sensible to stick to a target of 4 percent annual real return over time,” Yngve Slyngstad told a news conference after presenting the fund’s results for the fourth quarter and 2010……………………………………….Full Article: Source

Posted on 21 March 2011 by VRS |  Email |Print

Norway’s $544 billion sovereign wealth fund (SWF) voiced confidence in the Japanese economy’s ability to rebound from crisis and said it has not retreated from Middle East and North African markets engulfed by unrest.
The world’s second largest SWF after that of the United Arab Emirates said that soaring equity investments helped it hit returns of 9.6 percent last year and reaffirmed its long-term goal for 4 percent annual returns despite low bond yields……………………………………….Full Article: Source

Posted on 21 March 2011 by VRS |  Email |Print

Norway’s government-run oil fund, the world’s second-largest sovereign-wealth fund, is cutting its bond holdings and shifting its investments to real estate to protect itself against rising inflation. The Government Pension Fund Global, valued at nearly 3.1 trillion Norwegian kroner ($548 billion) at the end of last year, historically has invested 60% of its assets in stocks and 40% in bonds.
It now aims to gradually invest as much as 5% of its assets in real estate while reducing its fixed-income investments by the same percentage……………………………………….Full Article: Source

Posted on 21 March 2011 by VRS |  Email |Print

Qatar’s sovereign wealth fund, Qatar Holding, is mulling the possibility of buying a stake in Spanish telecommunications company Telefonica SA, Spanish news agency EFE reported Thursday, citing market sources.
Qatar Holding Chief Executive Ahmad M. Al-Sayed met with Telefonica Chairman Cesar Alierta on Thursday to explore the possibility of entering the telecom’s capital, but no agreement has been reached for the time being, the agency added……………………………………….Full Article: Source

Posted on 21 March 2011 by VRS |  Email |Print

Governor Rotimi Amaechi of Rivers State announced plans to challenge the Federal Government’s plans to establish a Sovereign Wealth Fund (SWF). Speaking after receiving the award of Man Of The Year 2010 by Independent Newspapers Limited (INL) in Lagos on Friday, Amaechi said: “the Rivers State Government is going to court against the Federal Government over the Sovereign Wealth Fund.”
He said the state government has already earmarked N1billion monthly, besides the money contributed for an Independent Power Plant (IPP), so “if they want to save, they should save from their 52 per cent share of the (Federation Account)……………………………………….Full Article: Source

Posted on 21 March 2011 by VRS |  Email |Print

Libyan Investment Authority (LAP Green Network) is a component of the Libya-Africa Investment Portfolio, which is part of the Libyan Investment Authority, the sovereign wealth fund for Libya.
Commenting on the development, Kavindele, a former Republican vice-president, said the threat on Zamtel’s future through international mobilisation to incapacitate business interests of Gaddafi and his inner circle was real……………………………………….Full Article: Source

Posted on 21 March 2011 by VRS |  Email |Print

China’s new economic development plan will lead to a reduction in exports from the Asian giant, which will require additional domestic funding and will also open up market share for other countries, according to the head of China’s sovereign wealth fund.
“We in China understand we cannot depend on exports forever. We need to change, we need to develop a vast direct domestic market,” said Jin Liqun, chairman of the supervisory board of the China Investment Corporation, at a conference organized by Fundacao Getulio Vargas……………………………………….Full Article: Source

Posted on 21 March 2011 by VRS |  Email |Print

GIC, the sovereign wealth fund of Singapore, has agreed to provide a £60m junior loan for Blackstone’s £480m purchase of Chiswick Park in west London.
GIC has provided the junior debt for the transaction as part of its new lending tie-up with Deutsche Bank, which is providing a £300m senior loan. The deal will complete early next week……………………………………….Full Article: Source

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