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Sovereign Wealth Funds Briefing 31.Mar 2011

Posted on 31 March 2011 by VRS |  Email |Print

London is in “pole position” to attract a growing share of sovereign wealth fund investment, according to a new report. Estimating that SWFs held assets worth a record $4.2tn (€2.98tn) under management in 2010, TheCityUK calculates that this figure could reach $5.5tn (€3.9tn) by the end of 2012 as the global recovery spurs increases in commodity demands.

It labels London in particular as an important centre for potential growth for sovereign wealth funds, arguing it is a location favoured both for clearing houses and for the managing of SWFs………………………………………Full Article: Source

Posted on 31 March 2011 by VRS |  Email |Print

Runar MalkenesNorway’s $550 billion sovereign wealth fund will keep investing in Southeast Asian oil palm planters but may exclude firms that severely damage the environment, a Norwegian finance ministry official said, as green groups step up their campaign against the industry.

Environmentalists have broadened their campaign to involve investment funds holding shares in palm oil firms that fell rainforests to expand — a practice that pumps vast global warming gases into the atmosphere………………………………………Full Article: Source

Posted on 31 March 2011 by VRS |  Email |Print

The Russian government should ditch its sovereign fund, which it is creating to lure foreign direct investment, in seven to eight years, President Dmitry Medvedev said on Wednesday.

“The state must not take part in the management of such a fund and must necessarily guarantee withdrawal from the company’s capital in about seven or eight years… The fund will be managed by a team of investment market professionals,” Medvedev said………………………………………Full Article: Source

Posted on 31 March 2011 by VRS |  Email |Print

Middle Eastern and Chinese heavyweights are interested in investing in Russia via a new direct investment fund expected to be worth up to $10 billion and co-funded by Moscow, a top state banker said.

“We have had a fairly positive response from the biggest private investment funds and sovereign funds,” Vladimir Dmitriyev, head of state development bank VEB, told Russian President Dmitry Medvedev. “In particular from the Abu Dhabi fund, from the China Investment Corporation, from a number of private funds,” Dmitriyev said……………………………………..Full Article: Source

Posted on 31 March 2011 by VRS |  Email |Print

China’s $300 billion sovereign wealth fund is prepared to invest more in resource-rich Latin America because it is confident in the region’s growth prospects, a senior official said on Wednesday.

Jin Liqun, chairman of the China Investment Corp. supervisory board , told an investor forum he had just returned from a trip to Brazil, Argentina and Chile and saw great potential for trade and investment………………………………………Full Article: Source

Posted on 31 March 2011 by VRS |  Email |Print

China’s sovereign wealth has earned a 40 percent return on investments made last year in U.S. commercial real estate, a senior official said on Wednesday.

Jin Liqun, chairman of the China Investment Corp. supervisory board, also said in an address at an investment forum in Beijing that the fund had no direct investments in Japan………………………………………Full Article: Source

Posted on 31 March 2011 by VRS |  Email |Print

The state Oil Fund will go into the red around the end of April if the government continues with its policy to subsidise the price of diesel price to keep it below 30 baht a litre, Energy Policy and Planning Office (EPPO) acting director-general Boonsong Kerdklang said on Wednesday.

Mr Boonsong said he will report to the National Energy Policy Committee, which will meet on April 20, that the Oil Fund will run out if the diesel subsidy policy continues after April………………………………………Full Article: Source

Posted on 31 March 2011 by VRS |  Email |Print

The permanent European rescue fund won’t allay investors’ concerns about peripheral nations’ debt restructuring and may not prevent sovereign downgrades in the short term, Fitch Ratings said.

“For so long as the ‘solvency’ of peripheral” countries is “in doubt, the introduction of the ESM from July 2013 as a senior creditor, combined with the political commitment to ensure private sector ‘burden-sharing,’ potentially heightens rather than diminishes market fears of a sovereign debt restructuring, including on currently outstanding debt,” Fitch wrote in a report today in London………………………………………Full Article: Source

Posted on 31 March 2011 by VRS |  Email |Print

Time is running out to apply for this year’s Permanent Fund Dividend. Alaskans have until 11:59 p.m. Thursday to sign up. They can apply online or visit a designated distribution center to pick up forms.

Last fall, Alaskans received checks of $1,281 when the 2010 dividend was paid. The money comes from investment profits from Alaska’s oil-wealth savings account………………………………………Full Article: Source

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