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Sovereign Wealth Funds Briefing 28.Jul 2011

Posted on 28 July 2011 by VRS |  Email |Print

Ireland said Wednesday that assets in its National Pensions Reserve Fund, or NPRF–a mini sovereign wealth fund–have been reduced to EUR5.27 billion after the government was forced to sell down its market investments in its “discretionary fund” to help rescue the country’s two major banks.
The NPRF said it now holds EUR15.5 billion worth of assets transferred into its so-called “directed fund” that has been earmarked to support Bank of Ireland PLC and Allied Irish Banks PLC, major lenders that required billions of euros of government aid amid the country’s debt crisis. The directed fund assets include shares in the two banks and other rescue monies……………………………………….Full Article: Source

Posted on 28 July 2011 by VRS |  Email |Print

Lou JiweiChina’s sovereign wealth fund, China Investment Corporation (CIC), has increased its allocation to alternative assets in 2010, including private equity and infrastructure.
According to its Annual Report 201, CIC reduced its cash holdings as a proportion of total portfolio and further diversified its investment portfolios. It recorded annual returns of 11.7 per cent in 2010, the same as 2009. The cumulative annualised return was 6.4 per cent since its inception……………………………………….Full Article: Source

Posted on 28 July 2011 by VRS |  Email |Print

China will press ahead with diversification of its $3.2 trillion in foreign exchange reserves, and does not pursue large-scale currency holdings, the State Administration of Foreign Exchange said on Thursday.
“We will continue to diversify the asset allocation of our reserve assets and continue to optimize the holdings based on market conditions,” the foreign exchange regulator said in a statement, responding to questions from the public……………………………………….Full Article: Source

Posted on 28 July 2011 by VRS |  Email |Print

Eiichi Sekine, chief representative of the Beijing office of the Nomura Institute of Capital Markets Research, also endorses the hypothesis. “[Omnibus] seems to be managing assets of China Investment Corp [CIC], among others,” said Sekine referring to China’s main sovereign wealth fund.
CIC added $35.7 billion in new investment in 2010, and made a net profit of $51.5 billion, China Daily reported on July 27, citing the fund’s annual report released this week. The fund ended the year with a net asset value of $374 billion……………………………………….Full Article: Source

Posted on 28 July 2011 by VRS |  Email |Print

Despite the state media giving extensive publicity to its ‘excellent’ performance in the last financial year, Temasek Holdings’ annual return for 2010 pales in comparison to the sovereign wealth funds of other countries.
Mr. Aaron Low, Straits Times Economic correspondent, had spoken with unrestrained flattery of enthusiasm of Temasek Holdings’ “strong performance” as attributed to its “deeply invested” in Asian equity market, as well as “some shrewd transactions it made in the last year……………………………………….Full Article: Source

Posted on 28 July 2011 by VRS |  Email |Print

Investor confidence in Singapore fell on concern about the global economy, the debt crisis in Europe and escalating debt debate in the U.S., according to a JP Morgan Asset Management survey.
The Government of Singapore Investment Corp., the nation’s sovereign wealth fund, said the investment environment is still challenging because of the uncertain recovery in developed economies and inflation pressure in emerging markets……………………………………….Full Article: Source

Posted on 28 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.
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 annualized basis……………………………………….Full Article: Source

Posted on 28 July 2011 by VRS |  Email |Print

The report presents the performance of the funds under GIC’s management. The 20-year annualised real rate of return is the key focus for GIC as it is our mission to preserve and enhance the international purchasing power of the reserves. Starting this year, GIC is also publishing the 5-year and 10-year nominal rates of return to provide a sense of the on-going medium-term investment performance, even while GIC maintains its sights on the long term.………………………………………Full Article: Source

Posted on 28 July 2011 by VRS |  Email |Print

Vasan Healthcare has almost closed a private equity deal of around $100 million from Singapore’s sovereign fund GIC. The company, which wants to raise a total $150 million through pre-IPO placement, is also in talks with a few other private equity firms, including Warburg Pincus, for the remaining funds.
According to a person, privy to the development, GIC is expected to make the investment in tranches. The fast-growing daycare services company had an early stage funding of $50 million from Sequoia Capital India. The pre-IPO placement will be used to fund the company’s growth plans till March 2012……………………………………….Full Article: Source

Posted on 28 July 2011 by VRS |  Email |Print

A review of the Government Superannuation Fund Authority is largely positive, although it does recommend some opportunities to improve policies and practices.
Carried out by JANA Investment Advisers and tabled in Parliament today, the review found that the authority met best practice in most areas and had effective board and management oversight……………………………………….Full Article: Source

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