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Sovereign Wealth Funds Briefing 02.Aug 2011

Posted on 02 August 2011 by VRS |  Email |Print

Vladimir PutinRussia’s oil wealth Reserve Fund shrank 1.6 percent in July, Finance Ministry data showed on Monday, due to the mostly negative revaluation of currencies that make up the fund. The Reserve Fund contained 746.84 billion roubles ($27.04 billion) on Aug. 1, compared to 746.84 billion roubles a month ago, and 1.23 trillion roubles a year ago.
The Reserve Fund and the second outlet for Russia’s windfall oil revenue, the National Welfare Fund, are kept 45 percent in euros, 45 percent in dollars and 10 percent in sterling……………………………………….Full Article: Source

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Posted on 02 August 2011 by VRS |  Email |Print

Norway’s sovereign wealth fund has taken another step towards its target of investing 5% of its assets in property by buying a stake in two central London addresses for GBP7 million.
Norway’s Pension Fund Global, sometimes referred to as the oil fund, bought a 25% stake in 4 Conduit Street and 1 Maddox Street, alongside a 75% investment by the U.K. Crown Estate, with the total investment by both parties valued at GBP28 million, according to a statement from the Crown Estate Sunday……………………………………….Full Article: Source

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Posted on 02 August 2011 by VRS |  Email |Print

CIC looks a bit like a hedge fund now. It has a bit of everything, fixed income, equities and alternatives. It did really well last year because it’s putting more money to work and also in highly cyclical sectors, such as oil and gas.
The China Investment Corporation (CIC), a sovereign wealth fund responsible for managing some of the country’s foreign exchange reserves, has reported an 11.7 per cent return on its global investments last year……………………………………….Full Article: Source

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Posted on 02 August 2011 by VRS |  Email |Print

Last month, analysts who monitor China’s gargantuan sovereign wealth fund detected signs that a deal was in the works to buy a huge stake in Facebook. Nevermind that access to Facebook has been blocked in China since 2009.
The fund, known as the China Investment Corporation (CIC), is a $332 billion portfolio that seeks to earn money from the government’s massive export earnings. It operates in almost complete secrecy, as do many sovereign wealth funds in the Persian Gulf, Russia and elsewhere. These have grown into major economic players over the past 20 years……………………………………….Full Article: Source

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Posted on 02 August 2011 by VRS |  Email |Print

China Investment Corp, a Chinese sovereign wealth fund, invested about just under two thirds of its total fund of $300 billion in Japan. The track record of one of its investment vehicles, the Australia-based OD05 Omnibus fund, shows that it keeps buying new shares without cashing in past stock investments.
According to one estimate, the fund had an unrealized profit worth 175.8 billion yen by the end of February 2011. ………………………………………Full Article: Source

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Posted on 02 August 2011 by VRS |  Email |Print

In its biggest-ever property deal, Swire Properties is selling the Festival Walk mall and commercial complex in Hong Kong to Mapletree Investment, a Singapore property developer, for HK$18.8 billion ($2.4 billion). Mapletree is a 100% subsidiary of Temasek.
Sovereign wealth funds and private equity funds were seen as likely buyers although strategic investors like Mapletree were also invited to bid……………………………………….Full Article: Source

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Posted on 02 August 2011 by VRS |  Email |Print

Kuwait on Monday invited bids from local and international investors to buy a stake in Kuwait Airways as part of a privatisation process to turn the loss-making airline into profit. The privatisation committee of Kuwait Airways said in a statement that interested parties should submit their “expression of interest” to participate in the bidding for 35 percent of the airline.
Five percent will be granted to Kuwaiti employees while the remaining 20 percent will be held by Kuwait Investment Authority, the OPEC member sovereign wealth fund……………………………………….Full Article: Source

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Posted on 02 August 2011 by VRS |  Email |Print

Dolphin Energy Limited released details of its second sustainability report. The report has been prepared in conjunction with the Global Reporting Initiative (GRI), which has developed comprehensive international guidelines for sustainability reporting.
Dolphin Energy is owned 51% by Mubadala Development Company, on behalf of the Government of Abu Dhabi - and 24.5% each by Total of France and Occidental Petroleum of the USA. (Press Release)

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Posted on 02 August 2011 by VRS |  Email |Print

Information from the last Federation Accounts Allocation Committee (FAAC) meeting indicates that Nigeria’s Excess Crude Account (ECA) is once more building up. We were told by the Director of Funds in the Office of the Account General of the Federation, Alhaji Babayo Shehu, who attended that meeting that funds in the ECA now stand at $6.9billion.
In spite of this, we see nothing to cheer with his disclosure given that the same account, which had accumulated up to $20billion early in 2007, was drawn down to a paltry $300million by the end of 2010……………………………………….Full Article: Source

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Posted on 02 August 2011 by VRS |  Email |Print

The Alberta Heritage Savings Trust Fund, the brainchild of former premier Peter Lougheed, was the original version of putting resource money away for future generations.
(After more than 31/2 decades, however, the fund has lost some of its vision and sits at a meagre $15 billion. If the province had stuck with the original goal, the pot would be close to $90 billion today.)………………………………………Full Article: Source

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