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Sovereign Wealth Funds Briefing 25.May 2011

Posted on 25 May 2011 by VRS |  Email |Print

Sovereign Wealth Funds (SWF) have, in recent years, been facing increasing regulation, and have had to deal with protectionist measures and greater attention from states based on issues of security, as seen in the Dubai Ports case in the USA.
“The rapid growth in the number and size of SWFs has led to fears in recipient countries of manipulation of key industries such as energy and banking and access to information and technology. The Committee of Foreign Investment in the US, for example, has called to block investment if it is perceived as a threat to national security……………………………………….Full Article: Source

Posted on 25 May 2011 by VRS |  Email |Print

China’s sovereign wealth fund China Investment Corp. has agreed to buy US$60 million worth of shares in Huaneng Renewables Corp. ( 0958.HK), a person familiar with the situation said Wednesday, becoming the latest cornerstone investor to subscribe to the wind-farm operator’s initial public offering in Hong Kong
Including CIC’s investment, Huaneng Renewables has secured a total of US$335 million from nine cornerstone investors for its relaunched initial public offering in Hong Kong that could raise up to US$988 million……………………………………….Full Article: Source

Posted on 25 May 2011 by VRS |  Email |Print

The China Investment Corporation was set up in 2007 to invest some of the $US3 trillion in foreign exchange reserves accumulated through trade surpluses - fuelled in part, critics would say, by an artificially depressed exchange rate.
It is the world’s fourth largest sovereign wealth fund but is growing fast as the Chinese government pursues its twin goals of securing raw materials and energy, and reducing its holdings of US treasury bonds, which Beijing no longer sees as future proof……………………………………….Full Article: Source

Posted on 25 May 2011 by VRS |  Email |Print

As it tries to convince Western investors to invest to modernise its economy, Russia has also drawn China’s attention. The China Investment Corp (CIC) is in fact eyeing investment opportunities in the Russian Federation.
Russia “has big development potential given its vast market and rich resources,” said Lou Jiwei, head of China’s US$ 300 billion sovereign wealth fund. “CIC is willing to invest in Russia,” he said……………………………………….Full Article: Source

Posted on 25 May 2011 by VRS |  Email |Print

Japan’s SBI Holdings and Abu Dhabi-owned Invest AD will invest $100 million in a new private equity fund focused on acquisitions in Turkey, the companies said in a statement on Tuesday.
Invest AD is owned by Abu Dhabi Investment Council (ADIC), which focuses on countries closer to home and is a separate entity from Abu Dhabi Investment Authority (ADIA), one of the world’s largest sovereign wealth funds……………………………………….Full Article: Source

Posted on 25 May 2011 by VRS |  Email |Print

The Gulf region’s sovereign wealth funds, or SWFs which account for 44 per cent of global SWF flows, representing just over $1 trillion are stepping up their domestic investments in the wake of the Middle East unrest, leading asset management company Invesco said.
Invesco’s latest study suggests geo-political drivers could prompt GCC-based SWFs to shift to more locally-focused investments and balanced-equity investment……………………………………….Full Article: Source

Posted on 25 May 2011 by VRS |  Email |Print

Gulf-based sovereign wealth funds have not abandoned regional and local investments despite the widespread political unrest, according to Nick Tolchard, head of Invesco Middle East.
“The political crises might mean short-term concerns but investors in the region, like sovereign wealth funds, are taking a more sensible long-term returns approach. There still appears to be a great deal of confidence. At least, there is no more cautiousness then there was last year,” he said……………………………………….Full Article: Source

Posted on 25 May 2011 by VRS |  Email |Print

GCC sovereign wealth funds have become significant investors in emerging Asia, and the growing Asian middle classes, especially from China, are flocking to tourist cities like Dubai and Abu Dhabi. There is also growing academic exchange.
At the newly launched King Abdullah University of Science and Technology in Saudi Arabia, the largest contingent of foreign students are not Arabs or Europeans, but Chinese, while GCC states are sending record numbers of students to study in China……………………………………….Full Article: Source

Posted on 25 May 2011 by VRS |  Email |Print

The Sovereign Wealth Fund (SWF), which will need between $8 to $10 billion to address the issue of Nigeria’s infrastructure deficit, was set up by the administration of President Goodluck Jonathan, with plans to create opportunities for the conversion of gas resources to electric power generation; initiate metroline systems in cities like Kano and Lagos; develop waterways and ensure sustainable water supply, among others.
A Sovereign Wealth Fund is a state-owned investment fund comprising financial assets like stocks, bonds, property and precious metals. SWF, which may be accumulated over a period of time, and held by the central bank of a nation, or may simply be a direct savings or setting aside of some funds by the state, are generally invested globally……………………………………….Full Article: Source

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