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Sovereign Wealth Funds Briefing 15.Aug 2011

Posted on 15 August 2011 by VRS |  Email |Print

Trinidad and Tobago’s sovereign wealth fund, more formally known as the Heritage and Stabilisation Fund (HSF), shot into the news this week following the disclosure by the Governor of the Central Bank, Ewart Williams, that the HSF would be impacted by the volatility in the United States equity markets.
The most recent quarterly report of the HSF reveals that the total market value of its portfolios as at March 31 was US$3.759 billion. Of that amount, the fixed income mandates accounted for 63.7 per cent of the total investments, while the equity mandates made up the balance of the 36.3 per cent……………………………………….Full Article: Source

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Posted on 15 August 2011 by VRS |  Email |Print

A $300 million (Dh1.1 billion) lawsuit against the Abu Dhabi Investment Authority (ADIA) is one of more than 1,000 filed by Irving Picard, the trustee authorised to recover money for victims of Bernard Madoff’s Ponzi scheme.

They said it is virtually identical to a lawsuit filed against ADIA, one of the world’s largest sovereign wealth funds, in April by Fairfield Sentry, which was one of many so-called “feeder funds” that invested in Madoff……………………………………….Full Article: Source

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Posted on 15 August 2011 by VRS |  Email |Print

London’s Olympic Village has been sold for GBP557 million ($903.5 million) to a Delancey and Qatari Diar joint venture (JV) in a deal which sees the JV acquiring homes on the site in Stratford, east London, and its long-term management.

The deal would also include arrangements to provide a future profit-share for the public sector. Qatari Diar is the property arm of Qatar’s sovereign wealth fund……………………………………….Full Article: Source

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Posted on 15 August 2011 by VRS |  Email |Print

Property developer Delancey and Qatari Diar have snapped up London’s Olympic Village in a deal worth GBP 557 million ($903.5 million). The 27-hectare site will become a new neighbourhood for London after the 2012 games.
London Mayor Boris Johnson described the sale as a “great deal” for London that showed the confidence big private investors had in the future of east London……………………………………….Full Article: Source

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Posted on 15 August 2011 by VRS |  Email |Print

London’s Olympic Village has been sold for close to $1 billion to a joint venture involving Qatar’s sovereign wealth fund and a British developer.

The $903 million deal was sealed this week between the British developer Delancey and Qatari Diar, which will acquire the Olympic Village site and its long-term management, the Olympic Delivery Authority (ODA) said……………………………………….Full Article: Source

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Posted on 15 August 2011 by VRS |  Email |Print

Norway’s sovereign wealth fund - filled by tax revenues from the nation’s oil industry - has fallen in value since the end of the second quarter because of the slump in global stock markets, figures yesterday showed.
While the fund’s value crept up by 0.3 per cent to 3.1 trillion Norwegian krona (£344 billion) in the three months to 30 June, plunges in share prices have dragged it down to KNr2.9 trillion……………………………………….Full Article: Source

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Posted on 15 August 2011 by VRS |  Email |Print

Norway’s sovereign wealth fund, known officially as the “Government Pension Fund – Global” and unofficially as the “oil fund,” continues to lose value in the current international financial climate, with second quarter figures released on Friday suggesting that the outlook for the fund has not been particularly positive for much of the year.

The fund managed just a 0.3 percent yield on its investments in the second quarter of 2011, relying on fixed-income investments that gave a return of 1.8 percent to make up for a 0.7 percent loss in equity holdings……………………………………….Full Article: Source

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Posted on 15 August 2011 by VRS |  Email |Print

The U.S. credit rating downgrade by Standard & Poor’s will have no impact on the large holdings of U.S. Treasury bonds by Norway’s oil fund, the head of the agency that manages the fund told MarketWatch in an interview Friday.

“The downgrade will have no effect on our view of the situation in the U.S. nor on the valuation of U.S. Treasurys nor on our holdings in U.S. Treasurys. In a way, it’s irrelevant,” said Yngve Slyngstad, chief executive officer of Norges Bank Investment Management, which manages the oil fund officially known as Government Pension Fund Global……………………………………….Full Article: Source

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