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Sovereign Wealth Funds Briefing 30.May 2011

Posted on 30 May 2011 by VRS |  Email |Print

A $20-billion sovereign wealth fund will mean that the country will revert back to its end-May 2010 reserve level of $47.689 billion, enough to finance 7.2 months of imports, which is way past the prudent level of six months of imports.
This $20-billion start-up wealth fund for the Philippines can be used to fund some of the so-called PPPs, or Public-Private Partnership Projects, that the government has identified to jump-start the economy. More than 15 PPPs are in the pipeline and ready for bidding from local and foreign investors from China to Australia, and Thailand to the United Kingdom……………………………………….Full Article: Source

Posted on 30 May 2011 by VRS |  Email |Print

David MurrayAssistant Treasurer Bill Shorten does not believe tying up money from the government’s proposed mining tax in a sovereign wealth fund is a sensible idea.
The Organisation for Economic Cooperation and Development has previously recommended that Australia should not spend the proceeds of the planned minerals resource rent tax (MRRT), instead placing it in a sovereign wealth fund……………………………………….Full Article: Source

Posted on 30 May 2011 by VRS |  Email |Print

Listed companies are increasingly meeting with hedge funds and sovereign wealth funds, while a quarter are mulling a secondary listing in a high-growth market, mostly China or Hong Kong. 47% of all companies meet sovereign wealth funds (SWFs), with an additional 23% saying they are considering meeting them.
“This is about corporates broadening their investor target lists,” says Gregory Roath, head of Asia-Pacific for BNY Mellon’s Depositary Receipts business. “That includes hedge funds and sovereign wealth funds (SWFs), and they are recognising the importance of those investment flows to the market……………………………………….Full Article: Source

Posted on 30 May 2011 by VRS |  Email |Print

BNY Mellon, the global leader in asset management and securities servicing, has appointed Eleni Wang as head of Client Management for Asia-Pacific. Wang replaces Jai Arya, who was recently named head of BNY Mellon’s newly created Sovereign Institutions Group.
“Our clients in Asia include some of the world’s largest financial institutions, central banks and several key sovereign wealth funds,” said Christopher Sturdy, Chairman of BNY Mellon’s Asia-Pacific region………………………………………Full Article: Source

Posted on 30 May 2011 by VRS |  Email |Print

An overview of the Libyan sovereign wealth fund’s bad moves, including investments in some of Italy’s top firms such as energy giant ENI and industrialist Finmeccanica. The real mystery of Libya’s oil treasure seems to be how much of it has been squandered by disastrous investments.
The anti-corruption organization Global Witness has published on its website a detailed report, originally dated June 30 2010, about the troubled investments of Libya’s sovereign wealth fund, the Libyan Investment Authority (LIA)……………………………………….Full Article: Source

Posted on 30 May 2011 by VRS |  Email |Print

Nigeria’s President Goodluck Jonathan said the Nigerian Federal capital city, that his administration was fully committed to making Nigeria’s oil assets a vehicle for wealth creation, economic diversification and development, according to a statement from his Special Adviser on Media and Publicity, Ima Niboro.
In his remarks after signing the 2011 Appropriation (Amendment) Bill and the Nigerian Sovereign Investment Authority (NSIA) Bill into law at the Presidential Villa, President Jonathan said that the new NSIA would provide the country with a “strong, transparent and effective tool for the management of our nation’s petroleum wealth for the good of all Nigerians”……………………………………….Full Article: Source

Posted on 30 May 2011 by VRS |  Email |Print

Bonds in Kazakhstan’s BTA bank extended recent sharp losses on Monday, with the 2025 issue trading at a record low 56 cents on the dollar, following recent results which some said had disappointed investors.
BTA, the biggest of the four Kazakh banks to default in 2009, underwent a high-profile debt restructuring last year and is now 81 percent owned by sovereign wealth fund Samruk-Kazyna……………………………………….Full Article: Source

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