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Sovereign Wealth Funds Briefing 26.Jul 2011

Posted on 26 July 2011 by VRS |  Email |Print

The Government of Singapore Investment Corp. said Tuesday its average rate of return for the fiscal year ended March grew from the previous year as global equities markets continue to improve, but warned that significant challenges remain ahead due to uncertainties surrounding the global economy.
In a statement, GIC, which manages Singapore’s foreign-exchange reserves, said in its annual report that average rate of return from its investments for the 20 years to March rose to 7.2% in U.S. dollar terms compared with a 20-year average 7.1% return a year earlier……………………………………….Full Article: Source

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Posted on 26 July 2011 by VRS |  Email |Print

Ng Kok SongThe Government of Singapore Investment Corp., the city’s sovereign wealth fund, said the investment environment remains “challenging” as inflation risks increase and the recovery of developed nations falter.
GIC, manager of more than $100 billion of Singapore’s reserves, said in its annual report today that it boosted investments in emerging economies to tap their potentially higher returns, and cut back in Europe and the U.S……………………………………….Full Article: Source

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Posted on 26 July 2011 by VRS |  Email |Print

Singapore sovereign wealth fund GIC has shifted more assets to emerging markets amid uncertainly over the recovery of the US and European economies, its annual report said Tuesday.
The Government of Singapore Investment Corporation (GIC) disclosed the shift as it reported a steady 7.2 percent rate of return on investments in the year to March, from 7.1 percent a year ago, on a nominal 20-year annualised basis……………………………………….Full Article: Source

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Posted on 26 July 2011 by VRS |  Email |Print

Singapore wealth fund GIC, one of the largest shareholders in UBS and Citigroup plans to invest more money in emerging markets and less in developed markets due to the long-term challenges facing the United States and Europe.
Over the 12 months to end-March 2011, GIC increased its exposure to emerging market equities to 15 percent of its portfolio from 10 percent, GIC said in a statement……………………………………….Full Article: Source

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Posted on 26 July 2011 by VRS |  Email |Print

Singapore sovereign fund GIC, which owns significant stakes in UBS and Citigroup , said its long-term view on the two banks has not changed despite the introduction of higher capital requirements that is likely to reduce future profitability of the banking industry.
“All global banks are likely to be affected to some extent by the new Basel III international capital rules,” Ng Kok Song, the Government of Singapore Investment Corp or GIC’s chief investment officer, was quoted as saying by the Business Times……………………………………….Full Article: Source

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Posted on 26 July 2011 by VRS |  Email |Print

In response to long-standing calls for more information about the Republic’s investment portfolio, the Government of Singapore Investment Corporation (GIC) has revealed, for the first time, its performance over various time frames in its annual report.
The sovereign wealth fund traditionally publishes its annual performance aggregated over 20 years but, starting this year, it will include five-year and 10-year annual rates of return to “provide a good sense of the ongoing medium-term investment performance”, said group president Lim Siong Guan………………………………………Full Article: Source

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Posted on 26 July 2011 by VRS |  Email |Print

A further recovery in the equity markets and a shift towards faster-growing emerging markets helped lift the investment returns of the Government of Singapore Investment Corporation (GIC).
This allowed GIC - which manages more than $100 billion of Singapore’s foreign reserves - to improve on its central objective: to achieve good long-term returns to the Government, above the rate of global inflation……………………………………….Full Article: Source

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Posted on 26 July 2011 by VRS |  Email |Print

Singapore’s biggest sovereign wealth fund GIC cut its exposure to developed countries and raised its holdings of emerging market equities during its financial year ended March 2011.
Singapore’s government set up GIC in 1981 to manage the country’s foreign exchange reserves. GIC has three operating units:………………………………………Full Article: Source

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Posted on 26 July 2011 by VRS |  Email |Print

The Hong Kong Monetary Authority (HKMA) is planning to buy $500 million worth of office properties in London and Paris as part of a drive to increase its investment in Europe, the Times reported on Monday without citing sources.
The newspaper said that HKMA will increase its exposure in the two European capitals through the Exchange Fund, an investment vehicle HKMA manages……………………………………….Full Article: Source

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Posted on 26 July 2011 by VRS |  Email |Print

Some foreign reserves should be transferred to a sovereign wealth fund that could be set up to invest in major infrastructure projects to ensure better management of the country’s assets, suggests Suparut Kawatkul, an executive at the Charoen Pokphand Group.
The former finance permanent secretary said the central bank has already incurred huge losses in issuing baht bonds to mobilise funds at 3% annual interest while buying US bonds that have produced only 0.25% interest……………………………………….Full Article: Source

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Posted on 26 July 2011 by VRS |  Email |Print

Indonesia’s Bank Danamon is seeking to raise up to Rp5 trillion ($586 million) from its upcoming rights issue, according to indicative terms announced yesterday. Danamon is controlled by Temasek Holdings.
While the final price won’t be fixed until August 15, it will come at a discount ranging from 15.8% to 28.1% versus last Friday’s closing price of Rp5,700 and at a discount of 14.3% to 25.4% versus the theoretical ex-rights price (Terp), the bank said……………………………………….Full Article: Source

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Posted on 26 July 2011 by VRS |  Email |Print

Amid growing interest among foreign investors for Australian toll roads, airports and other infrastructure projects, the Future Fund has bought a 5.05 per cent stake in MAp Group Ltd in an effort to keep pace with aggressive foreign investment, according to the Australian Financial Review.
The chairman of toll road company ConnectEast Ltd, Tony Shepherd, is among those criticising Australian investors for not paying enough attention to Australian infrastructure projects while foreign interest continues to grow, saying that Australian investors are too focused on short-term returns, according to the AFR……………………………………….Full Article: Source

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Posted on 26 July 2011 by VRS |  Email |Print

The State Oil Fund of Azerbaijan (SOFAZ) gives preference to investments in Europe. The SOFAZ reports as of 1 July 67.11% of its investments will be carried out in Europe. North America accounts for 13.99% of investments, developing countries for 7.6% and international financial institutions for 6.11%.
SOFAZ investment portfolio exceeded $30.348 bn or 99.97% of assets (over $30.357 bn) by the reported date. ………………………………………Full Article: Source

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Posted on 26 July 2011 by VRS |  Email |Print

The State Oil Fund of Azerbaijan (SOFAZ) reduced medium-term investments in the second quarter of 2011 compared to the first quarter’s indicator.
The SOFAZ reports that as of 1 July the Fund’s investment portfolio exceeded $30.348 bn or 99.97% of assets (over $30.357 bn). The basis of the investment portfolio included finances in U.S. currency for $16.5 bn in European currency for 8.47 bn in euro, and British currency for 939 million pound sterling, Azerbaijani currency for $9.22 million……………………………………….Full Article: Source

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Posted on 26 July 2011 by VRS |  Email |Print

The State Oil Fund of Azerbaijan (SOFAZ) still observes the phenomenal growth of its assets.
The Fund reports that in the 1st half of 2011 its assets increased by 33.3% up to $30.357 bn versus $22.766 bn by early 2011……………………………………….Full Article: Source

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Posted on 26 July 2011 by VRS |  Email |Print

Given the sheer size of Norway’s €390 billion public pension fund, adopting SRI policies could be a daunting prospect. However, the Norwegian government’s unwavering commitment to this stance has led it to develop its own responsible investing methods for what is the world’s second largest sovereign wealth fund.
The Norwegian Government Pension Fund Global was founded in 1996 to invest the huge wealth generated from the country’s petroleum activities. Its main role is to ensure good, long-term returns from which future generations can benefit……………………………………….Full Article: Source

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