Sun, Apr 20, 2014
A A A
Welcome sandeep.kottawar@wns.com
RSS
Sovereign Wealth Funds Briefing 07.Sep 2011

Posted on 07 September 2011 by VRS |  Email |Print

Nagi HamiyehTemasek Holdings confirmed in a filing with the Hong Kong stock exchange on Monday that it bought part of Bank of America Merrill Lynch’s stake in China Construction Bank, sold through a private transaction a week ago.
The Singapore investment company said it bought 4.4 billion of the H-shares, or about one-third of the 13.1 billion shares that BoA Merrill sold, at a price of HK$4.94 apiece. This means it spent about $2.8 billion. The acquisition increased its share of the Chinese lender’s H-share capital to 8.1% from 6.27%……………………………………….Full Article: Source

Posted on 07 September 2011 by VRS |  Email |Print

Singapore state investment company Temasek Holdings has hired Bank of America Merrill Lynch’s former head of investment banking in Southeast Asia Tan Chong Lee for a senior position, as it emerged that the fund manager has bought a $2.8bn stake in China Construction Bank.
He was most recently based in Singapore as head of corporate and investment banking in Southeast Asia at Merrill Lynch……………………………………….Full Article: Source

Posted on 07 September 2011 by VRS |  Email |Print

The government is delaying plans for a sovereign wealth fund that would invest in infrastructure projects abroad, saying the matter is not urgent. The idea for the fund emerged after Finance Minister Thirachai Phuvanatnaranubala asked the central bank to consider ways to use some of its foreign reserves in Asean ventures.
Prime Minister Yingluck Shinawatra said further study of relevant laws would be needed before the plan could proceed.”The government has no plans at present to amend Bank of Thailand laws to pave the way for such a fund,” she said……………………………………….Full Article: Source

Posted on 07 September 2011 by VRS |  Email |Print

Media reports these past few weeks clearly show that some ministers in the new government have been salivating for quite some time at the US$185 billion international reserves being managed by the central bank. For they could not wait until they finished moving into their new offices before expressing the desire to put their hands on it.
They want to quickly create a sovereign wealth fund to manage a good chunk of that money so that it will earn a higher rate of return than that achieved by the central bank……………………………………….Full Article: Source

Posted on 07 September 2011 by VRS |  Email |Print

Julia Gillard missed an opportunity to think big for a modern-day Labor party with her recent rejection of a sovereign wealth fund. It’s clear that Australia will miss out from that decision. We have no shortage of economists and business leaders who will argue that Australia should set up a fund to capture the historic windfalls of the country’s most sustained mining boom.
But the Prime Minister’s speech to the Financial Services Council last week suggests Labor is missing out too……………………………………….Full Article: Source

Posted on 07 September 2011 by VRS |  Email |Print

“Some of you may recall that on the 20th of April, 2010, the National Economic Council under my leadership approved the setting up of a National Sovereign Wealth Fund to secure Nigeria’s future growth. It was further approved that $1 billion be set aside for the fund as seed money.
The Sovereign Wealth Fund is a vehicle for growth that this administration conceived of to secure additional capital for growing Nigeria’s infrastructure and putting aside money for the rainy day so that future generations will always have something to fall back on in the event that revenues are impacted by market forces which have been known to be volatile”……………………………………….Full Article: Source

Posted on 07 September 2011 by VRS |  Email |Print

The foreign exchange reserves fell to $32.3 billion by September 2, the same level they were on June 24, and down from a six-month high in August, according to the Central Bank of Nigeria (CBN).
The foreign reserves peaked at $35.9 billion on August 8, its highest in six months, but fell to $32.92 billion at the close of last month. The forex reserves were also lower than a year ago, when they stood at $36.01 billion……………………………………….Full Article: Source

Posted on 07 September 2011 by VRS |  Email |Print

Libya’s sovereign wealth fund may have lost up to $6 billlion, according to a senior official, who pledged he would look into some of those losses incurred in transactions with international financial institutions, including Goldman Sachs Group Inc. (GS).
Mahmoud Badi was named last month to oversee Libya’s foreign investments, chiefly the Libya Investment Authority, a $65 billion sovereign fund set up under the regime of Col. Mommar Gadhafi’s regime that has since collapsed……………………………………….Full Article: Source

Posted on 07 September 2011 by VRS |  Email |Print

Officials in Libya’s new governing authority are looking into whether any payments made by Société Générale SA as part of its relationship with the Libyan Investment Authority made it into the hands of people close to the ousted regime of Col. Moammar Gadhafi, the Wall Street Journal reported.
The Journal reviewed documents showing that the French bank paid an unspecified amount to a Panama-registered company, Leinada Inc., to help structure and advise a $1 billion investment vehicle in 2008 for the LIA, Libya’s sovereign wealth fund……………………………………….Full Article: Source

Posted on 07 September 2011 by VRS |  Email |Print

The Libyan Investment Authority (LIA) had been one of the leading sovereign investors in companies in sub-Saharan Africa. Mr. Gaddafi invested large amounts of funds into various companies, hotel real estate, mining, and infrastructure.
Now that Gaddafi’s regime has been toppled, how are the recipient African countries dealing with the current situation? Tanzania is currently refusing to recognize Libya’s National Transition Council (NTC)……………………………………….Full Article: Source

Posted on 07 September 2011 by VRS |  Email |Print

In 2010, sovereign wealth funds invested 60% of their portfolios in non-OECD countries according to a new paper, Sovereign Funds are Helping Strike a New World Economic Balance.
The authors explore the ways that sovereign wealth funds are helping to shift the economic balance to the emerging world through large-scale investment. The article also focuses on the role of Spain as a key investor in Latin American markets. Here are the three main themes the paper looks at:………………………………………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