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Sovereign Wealth Funds Briefing 16.Jun 2011

Posted on 16 June 2011 by VRS |  Email |Print

Up to five trillion pounds - five thousand thousand million, with 12 zeros - is now swilling around the world on the books of sovereign wealth funds. It’s an unimaginably large sum, but it could easily get very much bigger.
That’s according to research at Edinburgh University business school, set out at a seminar on the impact of these vast government-controlled assets. Gavin Kretzschmar, an expert in the sector, has looked at those governments that run their own oil and gas corporations, which is the sector behind most sovereign wealth……………………………………….Full Article: Source

Posted on 16 June 2011 by VRS |  Email |Print

Svein GjedremNorway’s $570 billion oil fund may get more leeway to expand into new asset classes such as roads, gas pipelines and unlisted shares as the government switches its top adviser for setting the investor’s guidelines.
Former central bank Governor Svein Gjedrem, 61, this week started as secretary general at the Finance Ministry and chief adviser on investment rules for the oil fund, succeeding 64- year-old Tore Eriksen……………………………………….Full Article: Source

Posted on 16 June 2011 by VRS |  Email |Print

The European Financial Stability Facility—the euro zone’s temporary sovereign bailout fund—set final terms on its first bond to be issued in support of the Portuguese aid program.
Demand for the €5 billion ($7.22 billion), 10-year bond was solid, with order books reaching €8 billion, one of the banks running the sale said……………………………………….Full Article: Source

Posted on 16 June 2011 by VRS |  Email |Print

Abu Dhabi’s Gulf Capital plans to raise $250-300m in a credit fund to invest in acquisitions and offer capital to regional companies, its CEO said Tuesday.
The fund, Gulf Credit Partners, will be launched by the end of the year and will target sovereign wealth funds, pension funds and insurance firms, said Karim El Solh……………………………………….Full Article: Source

Posted on 16 June 2011 by VRS |  Email |Print

Qatar Holding, the investment arm of the Gulf state’s sovereign wealth fund, has denied it is close to finalising a deal to buy Manchester United Football Club.
In a statement to the emirate’s state news agency, Qatar Holding CEO Mohamed Al Sayed said the wealth fund was not, and never had been, in talks to buy the Premier League club……………………………………….Full Article: Source

Posted on 16 June 2011 by VRS |  Email |Print

The National Technology Enterprises Company (NTEC), a subsidiary of the Kuwait Investment Authority (KIA), has announced that a number of local companies and Kuwaiti entrepreneurs have signed five partnership agreements with international companies in the environment, renewable energy, and life sciences sectors through NTEC’s Global Bridge Initiative (GBI).
The announcement was made during an event held recently by NTEC and attended by representatives from local companies, government institutions and officials from the University of Texas (UT) at Austin……………………………………….Full Article: Source

Posted on 16 June 2011 by VRS |  Email |Print

China Investment Corp., the country’s sovereign wealth fund, is in talks with Russian development bank VEB to invest in the Kremlin’s new private equity fund, VEB Chairman Vladimir Dmitriev said.
CIC “is ready to consider concrete projects as part of co-investent with the direct investment fund,” Dmitriev said in Astana, Kazakhstan, where leaders of Russia, China and other members of the Shanghai Cooperation Organization are meeting. “So far there is no talk about what sums they are ready to invest,” Dmitriev said……………………………………….Full Article: Source

Posted on 16 June 2011 by VRS |  Email |Print

Benedicte Gravrand, Opalesque Geneva: The Australian government’s superannuation Future Fund expanded its hedge funds portfolio further. According to its March 2011 quarterly update, the Fund had A$11.8bn (US$12.6bn) or around 16.3% of its assets placed in alternative funds – which it defines as ʻskill based absolute return strategies and other risk premia providing diversity of return streams.ʼ
Triple A Partners Australia’s May 2011 newsletter said this was spread among 17 offshore managers who have received mandates averaging A$700m (US$746m) each:………………………………………Full Article: Source

Posted on 16 June 2011 by VRS |  Email |Print

The comments of Future Fund chairman David Murray on climate change last week quietly went through to the keeper, possibly because they were located in the back of Friday’s Financial Review in the quaint “Lunch With…” section.
“[Carbon dioxide] has got nothing to do with pollution… carbon dioxide is not a pollutant…, it is colourless and odourless. It is not a pollutant… It is a tiny proportion of greenhouse gases. There is no correlation between warming and carbon dioxide,” Murray is reported to have said……………………………………….Full Article: Source

Posted on 16 June 2011 by VRS |  Email |Print

Norway’s fund is reportedly $560.5 billion. What is Alberta’s equivalent? Our Heritage Fund has been depleted in the last three years under Premier Ed Stelmach from about $17 billion (2008) to its current $14 billion, and shrinking. Why?
Plus, why does Alberta use borrowed money (otherwise called private public partnerships) to build schools, roads and museums, while Norway uses the surplus from their Sovereign Wealth Fund to invest in the oil and gas industry in Alberta?………………………………………Full Article: Source

Posted on 16 June 2011 by VRS |  Email |Print

The Bank of Israel plans to start investing some of its reserves in equities abroad by the end of the year, the central bank’s director of market operations said.
The pilot investment will be through index trackers rather than specific stocks, Barry Topf said in an interview at the bank’s offices in Jerusalem. The bank plans to invest in the largest, most liquid and sophisticated markets through outside asset managers who haven’t yet been chosen, he said……………………………………….Full Article: Source

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