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Sovereign Wealth Funds Briefing 05.Sep 2011

Posted on 05 September 2011 by VRS |  Email |Print

Mr. Olisa AgbakobaGovernors are not relenting in their efforts to challenge the establishment of the Sovereign Wealth Fund, a special statutory account into which the three tiers of government are meant to save excess accruals from oil sales above the budget benchmark and other excess revenues.
The governors, under the auspices of the Nigeria Governors’ Forum, had reached out to some lawyers to challenge the legality of the wealth fund at the Supreme Court for them……………………………………….Full Article: Source

Posted on 05 September 2011 by VRS |  Email |Print

Thirachai PhuvanatnaranubalaFinance Minister Thirachai Phuvanatnaranubala solicited the World Bank to study a sovereign wealth fund model for Thailand, during his meeting with representatives of the bank.
Inclusive of net forwards of US$26.3 billion, Thailand’s foreign reserves as of Aug 26 stood at $215.7 billion, according to the Bank of Thailand’s data……………………………………….Full Article: Source

Posted on 05 September 2011 by VRS |  Email |Print

Abu Dhabi’s sovereign wealth fund Mubadala is increasing its position in emerging markets, according to Waleed Al Muhairi, the COO of Abu Dhabi’s state investment fund.
He estimates the firm’s international portfolio will be weighted roughly equally between developed and emerging markets within the next five years. This moves away from the roughly 60% weighting in favour of developed markets today……………………………………….Full Article: Source

Posted on 05 September 2011 by VRS |  Email |Print

While Sovereign Wealth Funds have often maintained a stable share of professionally managed assets, we have found that private households demonstrate a long-term trend to increase their professionally managed assets.
This trend is also evident among insurers, who seem to be increasing their professionally managed assets as part of a broader asset management professionalisation drive………………………………………Full Article: Source

Posted on 05 September 2011 by VRS |  Email |Print

Globally, the financial and utility sectors in direct investments are white hot for sovereign investors. In the first half of 2011, $7.09 billion was invested by SWFs in the financial sector. This was followed by $3.13 billion in utilities. Year-to-date from 2011, we have recorded $3.41 billion in energy sector direct transactions.
Some countries with robust sovereign wealth fund direct investment inflows from the beginning of 2011 to present include the Spain ($8.41 billion), France ($6.76 billion), China ($6.61 billion), and the United Kingdom ($6.25 billion)……………………………………….Full Article: Source

Posted on 05 September 2011 by VRS |  Email |Print

A Chinese consortium was the biggest buyer of the China Construction Bank stake that Bank of America sold last month.
The Chinese buyers joined with the sovereign investment arms of Singapore and Qatar to buy the CCB stake. Temasek, the Singapore state investment agency, raised its holding in CCB to about 7 per cent. In early July, Temasek sold over $1bn of CCB shares through Morgan Stanley at a price that was much higher than the level at which it bought shares last week……………………………………….Full Article: Source

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