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Sovereign Wealth Funds Briefing 15.Jul 2011

Posted on 15 July 2011 by VRS |  Email |Print

Augusto SassoInvestment bank Moelis & Co. expects to see a gradual rise in mergers and acquisitions (M&A) activity in the Gulf Arab region driven by cash-rich sovereign funds and industrial firms seeking expansion opportunities, an executive said on Thursday.
Mergers and acquisitions (M&A) in the Mena region hit a rough patch in the wake of the financial crisis as an era of leverage-led buyouts waned and several high-profile investments suffered heavy losses……………………………………….Full Article: Source

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Posted on 15 July 2011 by VRS |  Email |Print

Russell Investments has landed a $640m mandate from the Alaska Permanent Fund for its Russell Fundamental Developed Large Company Index, the first mandate win for the firm in its new suite of fundamental indices.
The sovereign wealth fund has moved assets out of a market-cap weighted strategy previously run by State Street Global Advisors. Ken O’Keeffe, Managing Director, Indexes at Russell Investment confirmed this was the firm’s first mandate win into these indices since their launch four months ago but said pension funds in both the US and Europe have shown interest. The firm runs 24 indices within the suite……………………………………….Full Article: Source

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Posted on 15 July 2011 by VRS |  Email |Print

It is true that most sovereign wealth funds and global institutional investors have a high allocation to U.S. dollar assets. This has been the story for the past half century. Second, it has been a difficult time for the U.S. dollar this past decade.
With the bailout of financial institutions, mounting federal and state governmental deficits, QE2, high unemployment, two wars, and now the possibility of a block in the augmentation of the debt ceiling, American currency is increasingly being watched like a hawk from foreign governmental investors. In addition, as skilled and unskilled labor prices are priced more efficient in emerging markets versus the United States, it will place a continued drag on the U.S. dollar……………………………………….Full Article: Source

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Posted on 15 July 2011 by VRS |  Email |Print

In accordance with decree on the execution of the 2010 budget of the State Oil Fund of Azerbaijan (SOFAZ), approved by the President of Azerbaijan Ilham Aliyev, its revenues amounted to 13.088.5 billion manat and expenses - 6.386.6 billion manat, the Azerbaijani President’s official website reported.
Revenue of SOFAZ’s budget was executed by 144.9 percent and expenditure by 99.4 percent………………………………………Full Article: Source

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Posted on 15 July 2011 by VRS |  Email |Print

Petrodollar savings are usually parked initially at central banks, which have traditionally bought liquid sovereign bonds in the US and the eurozone. The government then allocates part of the capital to sovereign wealth funds to invest more actively and generate profit for future generations.
Central banks, for their part, may be less keen to continue accumulating government debt, especially US Treasuries……………………………………….Full Article: Source

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Posted on 15 July 2011 by VRS |  Email |Print

Temasek Holdings Pte said on Wednesday that it will not sell its shares in Agricultural Bank of China Ltd (ABC). The comments came after the Singapore government investment company sold stakes in Bank of China Ltd (BOC) and China Construction Bank Corp (CCB) last week.
“We are confident in the long-term development of the banking industry in China,” said Ding Wei, head of operations at Temasek China……………………………………….Full Article: Source

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Posted on 15 July 2011 by VRS |  Email |Print

Nigeria’s foreign reserves rose to $34.5 billion in July 13, from $31.5 billion a week earlier, netting about $3 billion increase within the period.
Foreign-currency reserves stood at $31.7 billion by July 4, compared with $37 billion a year earlier, according to data from the Central Bank of Nigeria’s (CBN) website. No reason was however, given for the sudden rise in the reserves……………………………………….Full Article: Source

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