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Sovereign Wealth Funds Briefing 23.May 2011

Posted on 23 May 2011 by VRS |  Email |Print

Chin Young-wookWith the aftermath of the global financial crisis waning, sovereign wealth funds (SWF) have emerged as a new force on the global money market, changing the landscape of the financial industry.
In terms of assets under management, SWFs around the world were sitting on a combined $4.2 trillion war chest in December, up 11 percent from $3.59 trillion year-on-year, according to The CityUK. The figure stood at only $1.1 trillion in 2000……………………………………….Full Article: Source

Posted on 23 May 2011 by VRS |  Email |Print

Korea Investment Corporation (KIC) aims to expand assets to $100 billion to join ‘premier league’ By Kim Jae-kyoung A war without gunfire is looming larger and larger. There is a heated competition brewing between major powers and emerging forces over dwindling energy and other natural resources and eventually the expansion of their economic territories.
At the center stage of the war are sovereign wealth funds (SWF) representing each country, a pool of money derived from a country’s reserves, which is set aside for investment purposes……………………………………….Full Article: Source

Posted on 23 May 2011 by VRS |  Email |Print

China’s sovereign wealth fund sees great development potential in Russia, with its vast market and ample resources, and is willing to invest in the country, Xinhua News Agency reported Monday, citing China Investment Corp. Chairman Lou Jiwei.
CIC sees two channels for possible investments in Russia: either through Russia’s direct investment fund, or through a new round of privatization in the country, the report cited Lou as saying, adding he sees many investment opportunities as the Russian government is actively adjusting the country’s economic structure……………………………………….Full Article: Source

Posted on 23 May 2011 by VRS |  Email |Print

It was reported this week that China’s sovereign wealth fund is about to receive new capital from the government, adding billions of dollars annually to its already impressive wallet. As China’s economic power continues to grow and countries around the world compete for Chinese investment, the question facing developed countries is not so much what happens when China rules the world, as what will be the impact when China owns the world?
The China Investment Corporation was set up in 2007 to invest some of the $3tn in foreign exchange reserves that have accumulated through trade surpluses – fuelled in part, critics would say, by an artificially depressed exchange rate……………………………………….Full Article: Source

Posted on 23 May 2011 by VRS |  Email |Print

China Development Bank is in talks to buy a minority stake in TPG Holdings, according to a person familiar with the situation, making it the latest major state-backed investor from abroad to seek a piece of the San Francisco-based buyout firm.
The Chinese policy bank would join Kuwait Investment Authority and Government of Singapore Investment Corp., which recently agreed to purchase nearly 5% of TPG, people close to the matter said……………………………………….Full Article: Source

Posted on 23 May 2011 by VRS |  Email |Print

Oman Investment Fund (OIF), a sovereign wealth fund owned by the Oman government, and a hedge fund have agreed to buy part of National Stock Exchange’s stake in National Commodity Derivatives Exchange (NCDEX) in a deal that would value the bourse at Rs 700 crore.
“OIF has agreed to pick up 5% in the commodity exchange from NSE and a hedge fund will buy 1.1% at a little under Rs 145 a share, the price Renuka Sugars paid to buy 7% in NCDEX from Crisil last year,” said a person aware of the development……………………………………….Full Article: Source

Posted on 23 May 2011 by VRS |  Email |Print

Chairman of the Nigeria Governors Forum (NGF) Bukola Saraki has said the Excess Crude Account is illegal. But, to him, that governors are not abusing the account by withdrawing funds statutorily meant for the states from it.
He said the NGF might choose a new chairman this week. The new chairman, according to him, will not necessarily be a PDP governor……………………………………….Full Article: Source

Posted on 23 May 2011 by VRS |  Email |Print

Kenyan companies investing in carbon trading projects are set to tap a Sh500 million allocation by French sovereign fund PROPARCO that seeks to finance environmental initiatives. The fund is set to invest an estimated Sh500 million in Kenya targeting projects aimed at cutting carbon emissions.
The investments, to be made in the medium term, will benefit firms engaging in a wide range of environmentally friendly projects, including electricity generation from biomass, solar, hydro, or wind sources……………………………………….Full Article: Source

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