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Sovereign Wealth Funds Briefing 01.Aug 2011

Posted on 01 August 2011 by VRS |  Email |Print

Norges Bank Investment Management, Norway’s $570 billion sovereign wealth fund, and the Crown Estate made a joint purchase of two properties on London’s Regent Street for 28 million pounds ($46 million.
The two groups bought Maddox House for 23 million pounds from pension fund clients of Aberdeen Asset Management, and 4 Conduit Street from a private investor, the newspaper said. The Oslo-based fund previously bought a 25 percent stake in the Regent Street shopping area……………………………………….Full Article: Source

Posted on 01 August 2011 by VRS |  Email |Print

Kuwait is seeking bids to sell 35 percent of Kuwait Airways Corp. as the OPEC oil producer searches for strategic investors to return the national flag carrier to profit.
“All identified assets, liabilities, rights and benefits” of Kuwait Airways Corp. will be transferred to a new company called Kuwait Airways Co. KSC, the Privatization Committee said………………………………………Full Article: Source

Posted on 01 August 2011 by VRS |  Email |Print

Temasek Holdings’ property firm Mapletree Investments is acquiring Hong Kong shopping complex Festival Walk in a deal worth HKD18.8 billion (USD 2.4 billion). According to a statement made to the Hong Kong Stock Exchange, Mapletree has already paid a deposit of HKD1.8 billion (USD230.97 million), and the sale will be finalized on August 18.
The 1.2 million square foot seven-storey mall has a book value of HKD17.2 billion as of December 2010, representing a profit of HKD1.6 billion from the deal. The fully- occupied complex also houses top-tier office spaces……………………………………….Full Article: Source

Posted on 01 August 2011 by VRS |  Email |Print

Temasek Holdings, Singapore’s influential sovereign-wealth fund, is meeting with investors to discuss new bond issues. Rated triple-A by both Moody’s and Standard & Poor’s, and with ample liquidity—its net cash increased by US$10.8 billion in fiscal year 2011—the fund has no problem raising debt.
It’s just a question of how much, and in which currency. One likely option is a dim-sum offering. While dim-sum bonds are not the cheapest to issue, Temasek is heavily exposed to yuan through its many Chinese investments, and needs to hedge its currency risk……………………………………….Full Article: Source

Posted on 01 August 2011 by VRS |  Email |Print

Singapore sovereign wealth fund GIC has announced that emerging-market equities accounted for 15% of its portfolio as of March 31, up from 10% a year earlier.
Equities in developed markets fell to 34% of its portfolio from 41% during the same period. Fixed income accounted for 22% of GIC’s assets on March 31, up from 20% a year earlier……………………………………….Full Article: Source

Posted on 01 August 2011 by VRS |  Email |Print

The Government of Singapore Investment Corporation (GIC), has reiterated the 20-year period as the most suitable time horizon to measure asset performance. Janus Corporate Solutions, a leading Singapore company incorporation agency and the parent of www.GuideMeSingapore.com, welcomes the affirmation that was published in the recently released 2010/2011 Report on the Management of the Government’s Portfolio.
As a key national reserves manager, the GIC has steadily worked towards achieving high long-term returns and growing Singapore’s reserves by making prudent investments in assets that have good value and strong long-term growth potential. (Press Release)

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