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Sovereign Wealth Funds Briefing 16.Aug 2011

Posted on 16 August 2011 by VRS |  Email |Print

Sovereign wealth funds (SWFs) are not a new phenomenon. The first SWF was established more than 50 years ago, but they attract more interest now than ever. This is both because of their sheer scale - the Gulf-based SWFs alone are thought to control assets equivalent to those of the entire hedge fund industry - and a number of high-profile transactions in recent years.
Detractors often incorrectly assume that SWFs are a homogeneous group of investors. Although an SWF is, in generic terms, an investment vehicle with authority to invest the assets of a nation, such institutions range from central banks to state-owned companies and include stabilisation funds, savings funds and state pension funds……………………………………….Full Article: Source

Posted on 16 August 2011 by VRS |  Email |Print

The Abu Dhabi Investment Authority may invest $100 million in Russian regional banks through a fund set up by the International Finance Corp. and VEB, Russia’s state-run development bank, Kommersant reported.
Investment funds from South Korea have also expressed interest in the fund, which may invest as much as $1 billion, the newspaper reported, citing documents prepared for VEB’s supervisory board……………………………………….Full Article: Source

Posted on 16 August 2011 by VRS |  Email |Print

Finance Minister Thirachai Phuvanatnaranubala plans to hold discussions with Bank of Thailand Governor Prasarn Trairatvorakul on the the central bank’s inflation-targeting policy in view of a pressing need to stimulate domestic demand to counter the global economic weakness.
On the possibility of creating a Sovereign Wealth Fund, he said this issue would also be explored as many countries were now using their reserves to invest in tangible assets such as commodities……………………………………….Full Article: Source

Posted on 16 August 2011 by VRS |  Email |Print

Australia’s Future Fund, which helps Australian governments meet pension liabilities for public servants, said Monday it had reduced its holding in telecommunications giant Telstra Corp. (TLS) to 0.8% of the company as part of a rebalancing of its portfolio.
“Completion of the rebalancing meets the Board’s long-stated objective of reducing its Telstra holding in an orderly manner over the medium term,” the Fund, which has 75.2 billion Australian dollars (US$78.3 billion) in assets, said in a statement……………………………………….Full Article: Source

Posted on 16 August 2011 by VRS |  Email |Print

The China Investment Corporation (CIC), the special-purpose company which manages China’s sovereign wealth fund, is to acquire the ten percent stake from French firm GDF Suez under a new memorandum of understanding signed between both.
In exchange for joint-investment opportunities in Asia Pacific, including China, GDF Suez will, possibly before the end of the year, transfer its ten percent stake in Train 1 of the Atlantic LNG natural gas plant, as well as production payments associated with trains 2, 3 and 4 for EURO 600 million (TT$5.5b). CIC will also acquire a 30 percent of GDF Suez’s Exploration and Production division……………………………………….Full Article: Source

Posted on 16 August 2011 by VRS |  Email |Print

A joint venture involving the Qatari sovereign wealth fund’s $1bn (€690m) property subsidiary has acquired London’s Olympic Village for £557m, defeating a rival £1bn bid headed by the UK’s Wellcome Trust to buy the freehold of the Olympics site.
The deal will give Qatari Diar and joint-venture partner UK developer Delancey an equal stake in 1,439 residential units next to the Olympics site, as well as six plots with development potential for 2,000 additional units……………………………………….Full Article: Source

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