Thu, Aug 21, 2014
A A A
Welcome sandeep.kottawar@wns.com
RSS
Sovereign Wealth Funds Briefing 06.Sep 2011

Posted on 06 September 2011 by VRS |  Email |Print

Thirachai Phuvanatnaranubala Thailand’s central bank board will discuss a plan to set up a sovereign wealth fund as suggested by the finance minister and expects to have a conclusion in a month, the central bank governor said.
“A fund must be creative and we need to look at all aspects. We have a month to look at it,” Prasarn Trairaivorakul said……………………………………….Full Article: Source

Posted on 06 September 2011 by VRS |  Email |Print

Thai Finance Minister Thirachai Phuvanatnaranubala said the establishment of a sovereign wealth fund may help the central bank narrow losses on its currency and bond investments.
“It’s a suggestion to help resolve the problem,” Thirachai wrote on his official Facebook page yesterday. “While the central bank hasn’t asked the government to help fund its losses, the assets of the Bank of Thailand are national assets. They should be better managed.”………………………………………Full Article: Source

Posted on 06 September 2011 by VRS |  Email |Print

A sovereign wealth fund should be managed by a board comprised of representatives from across society, according to Bank of Thailand chairman MR Chatumongol Sonakul.
He said he had put a similar proposal to the Abhisit Vejjajiva government, calling for a fund board represented by officials from the central bank and Finance Ministry, the Budget Bureau and investment experts from the asset management sector……………………………………….Full Article: Source

Posted on 06 September 2011 by VRS |  Email |Print

Chatu Mongol Sonakul, chairman of Bank of Thailand, said today that he welcomed the proposal to establish the sovereign wealth fund, but this must be carried out in a thorough manner.
He said that there was a discussion on this idea during the previous government. Then, he proposed that some US$10 billion from foreign reserves are channelled to the fund, so that it could be invested in equities……………………………………….Full Article: Source

Posted on 06 September 2011 by VRS |  Email |Print

Former finance minister Chalongphob Sussangkarn has warned against the creation of a sovereign wealth fund, saying the government should heed what had happened to South Korea in recent times.
Thirachai Phuvanatnaranubala, the current finance minister, meanwhile insists the government will listen to all parties before deciding whether to press ahead with the idea……………………………………….Full Article: Source

Posted on 06 September 2011 by VRS |  Email |Print

Singapore’s Temasek Holdings has hired a senior Bank of America-Merrill Lynch investment banker, part of a reshuffling of the top dealmaking team at the state investor.
Tan Chong Lee, BofA-Merrill Lynch’s Southeast Asia head of corporate and investment banking, was hired for the post of senior managing director and CIO-designate, sources with direct knowledge of the move told Reuters……………………………………….Full Article: Source

Posted on 06 September 2011 by VRS |  Email |Print

Temasek Holdings Pte, Singapore’s state-owned investment company, bought shares in China Construction Bank Corp. for as much as HK$21.7 billion ($2.8 billion) about eight weeks after paring its holdings.
Temasek purchased 4.4 billion shares, paying as much as HK$4.94 apiece and increasing its stake to 8.1 percent of the Hong Kong-listed shares, according to a filing to the Hong Kong stock exchange yesterday. Bank of America Corp. said Aug. 29 that it agreed to sell about half its stake in the Beijing-based lender for $8.3 billion to bolster capital……………………………………….Full Article: Source

Posted on 06 September 2011 by VRS |  Email |Print

Qatar Investment Authority, the Gulf state’s sovereign wealth fund, has lost its bid to acquire the media agency that controls the broadcasting rights to the FIFA World Cup.
London-based private equity firm Bridgepoint Capital agreed to pay €550m ($707m) for Infront, the agency that controls the rights to the World Cup, six winter sports federations, AC Milan and the World Superbikes series, British media reported Monday……………………………………….Full Article: Source

Posted on 06 September 2011 by VRS |  Email |Print

Oil producing nations currently have $2.62 trillion held in Sovereign Wealth Funds (SWFs). This revlealation comes on the heels of moves by state governors to ensure that the SWF is not established in Nigeria, despite an existing law to that effect.
The governors, under the auspices of the Nigeria Governors Forum, are challenging the establishment of the SWF, a special statutory account into which the three tiers of government are reqiured to save excess accruals from oil sales above the budget benchmark, for future spending……………………………………….Full Article: Source

Posted on 06 September 2011 by VRS |  Email |Print

The state governors seem determined not to pay the N18, 000 national minimum wage as they keep coming up with excuses for delays in doing what they must do. First, they demanded the restructuring of the revenue sharing formula as a condition for implementing the pay package. Later, it was the withdrawal of petroleum subsidy.
Now, it is the Sovereign Wealth Fund (SWF) which they claim is unconstitutional and must be rectified and the money meant for the fund put in the redistributable pool of funds of the government……………………………………….Full Article: Source

Posted on 06 September 2011 by VRS |  Email |Print

eFront announces that Bahrain Mumtalakat Holding Company has selected eFront’s FrontInvest Alternatives to support its alternative investments operations. FrontInvest Alternatives is the global frontrunner in alternative asset management platforms.
Mumtalakat is the investment arm of the government of Bahrain’s strategic non-oil and gas related assets and holds stakes in over 35 commercial enterprises, representing a portfolio value of more than USD 9 billion……………………………………….Full Article: Source

Posted on 06 September 2011 by VRS |  Email |Print

The Libyan Investment Authority, which publishes little information and suffered losses on structured products last year, could adopt a similar model.
Without transparency, the risk is that much of Libya’s wealth disappears, like Iraq’s billions……………………………………….Full Article: Source

Posted on 06 September 2011 by VRS |  Email |Print

The U.K.’s foreign currency reserves increased to $46.869 billion in August from $44.632 billion in July, with valuation effects accounting for most of the increase, according to Treasury data published Monday.
Valuation effects added $2.230 billion to the value of net currency reserves held, while transactions against sterling accounted for the rest of the $2.237 billion increase, the Treasury said………………………………………Full Article: Source

See more articles in the archive

August 2014
M T W T F S S
« Jul    
 123
45678910
11121314151617
18192021222324
25262728293031