Sun, Apr 20, 2014
A A A
Welcome sandeep.kottawar@wns.com
RSS
Sovereign Wealth Funds Briefing 23.Aug 2011

Posted on 23 August 2011 by VRS |  Email |Print

Wayne SwanAustralian Treasurer Wayne Swan said on Tuesday he does not see any need now for a sovereign wealth fund to help cope with the country’s mining boom.
“No it wouldn’t do anything in our current situation and wouldn’t do anything for some time to come,” Swan told Australian radio, when asked whether the government could consider establishing a sovereign wealth fund to smooth out the impact of the resources boom……………………………………….Full Article: Source

Posted on 23 August 2011 by VRS |  Email |Print

Paul BloxhamThe wave of job cuts in the steel industry, blamed on the high dollar, has reignited calls for a sovereign wealth fund to rein in the exchange rate.
A sovereign wealth fund is a savings pool used by commodity-rich countries such as Norway to invest the windfall of a resources boom or to soften the blow from a sudden fall in commodity prices……………………………………….Full Article: Source

Posted on 23 August 2011 by VRS |  Email |Print

South Korea’s sovereign wealth fund Korea Investment Corp., or KIC, has purchased $78 million in Bank of America Corp. (BAC) shares this year, judging that the U.S. banking giant’s shares were undervalued.
KIC bought the shares since January with part of the $145 million in dividends it received from BofA, the Korean sovereign fund said in a statement issued late Monday……………………………………….Full Article: Source

Posted on 23 August 2011 by VRS |  Email |Print

The National Solidarity Party (NSP) has called on the Government of Singapore Investment Corporation (GIC) and Temasek Holdings to provide more information to the public on their inner workings.
NSP firmly believes that better financial transparency in our sovereign wealth funds (SWFs) and Parliament is the best way to serve all Singaporeans, and hopes that the new elected president will champion the move as this relates also to the management of our reserves………………………………………Full Article: Source

Posted on 23 August 2011 by VRS |  Email |Print

The National Solidarity Party (NSP) regrets the continued lack of transparency surrounding our sovereign wealth funds (SWFs). The NSP believes that sufficient public information in the internal workings of GIC and Temasek Holdings is undoubtedly in the interest of all Singaporeans, as is a demonstrably robust system of check and balances in the management of our SWFs.
Singapore’s reserves, as well as Singaporeans’ Central Provident Fund (CPF) contributions, are managed by GIC and Temasek Holdings……………………………………….Full Article: Source

Posted on 23 August 2011 by VRS |  Email |Print

Taking a cue from China, India too is working out the modalities of setting up a $10-billion sovereign wealth fund (SWF) to acquire energy assets abroad. A group of ministers (GoM) on energy security issues headed by finance minister Pranab Mukherjee is set to meet on Tuesday to formulate the modalities to set up an SWF.
A sovereign wealth fund is a state-owned investment fund composed of financial assets such as stocks, bonds, property, precious metals or other financial instruments. Sovereign wealth funds invest globally……………………………………….Full Article: Source

Posted on 23 August 2011 by VRS |  Email |Print

The Nigeria Governors’ Forum (NGF), on Sunday, declared the Sovereign Wealth Fund Act (SWF) unconstitutional calling on the Federal Government to suspend its operation. President Goodluck Jonathan had, on May 27 this year, signed the National Sovereign Investment Authority Bill into law.
The NGF, which is the umbrella association of the 36 state governors of the country, in a meeting presided over by its chairman, Mr Rotimi Amaechi, maintained that the constitutional issues arising from the SWF Act needed to be looked into critically……………………………………….Full Article: Source

Posted on 23 August 2011 by VRS |  Email |Print

Governors Isa Yuguda and Gabriel Suswam explained why the 36 state governors are insisting on the review of the operation of the Sovereign Wealth Fund (SWF). They spoke with reporters at the end of the monthly meeting of the National Economic Council (NEC) at the Presidential Villa.
Suswam and Yuguda said the governors viewed the fund as a way of short-changing their states. They also hinged the call for the suspension of SWF on the new minimum wage package……………………………………….Full Article: Source

Posted on 23 August 2011 by VRS |  Email |Print

The market value of the Libyan Investment Authority’s (LIA) investment portfolio rebounded in the third quarter of 2010, after a 4.5 percent slump in the prior quarter, to $64.19 billion as of Sept. 30, 2010, the fund’s management information report showed. But that is still below a widely quoted figure close to $70 billion.
A sharp drop in asset values after the debt crisis in Europe and a downgrade of the United States’ credit rating is likely to have further thinned the portfolio even though latest figures are not available, analysts say………………………………………Full Article: Source

Posted on 23 August 2011 by VRS |  Email |Print

The Abu Dhabi Investment Authority (ADIA), one of the world’s three largest sovereign wealth funds with assets valued at around $328 billion at the end of 2008, is reorganizing its external equities teams into two sections.
One section will focus on indexed funds while the other will focus on those that are actively managed. Currently, ADIA allocates 60% of its total portfolio to externally managed indexed funds. Overall, approximately 80% of the fund’s assets are invested by external fund managers………………………………………Full Article: Source

Posted on 23 August 2011 by VRS |  Email |Print

Much has been done since then: the Sovereign Wealth Fund Samruk-Kazyna was set up to ensure economic stability, legislation was improved, institutions and organizations emerged to coordinate the actions of businesses and government, and small and medium enterprises were expanding and so on.
But no one is immune to mistakes, especially the emerging markets. As usual, there was a redistribution of investment and labor resources into the commodity sector……………………………………….Full Article: Source

See more articles in the archive

banner
banner
April 2014
M T W T F S S
« Mar    
 123456
78910111213
14151617181920
21222324252627
282930