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Sovereign Wealth Funds Briefing 14.Sep 2011

Posted on 14 September 2011 by VRS |  Email |Print

The Abu Dhabi Investment Authority, among the world’s largest sovereign wealth funds, is ramping up its private equity activities after a relatively subdued period over the past two years, sources familiar with the fund’s plans said.
Staffing within ADIA’s private equity department will likely more than double from its current complement of around two dozen, sources said, although no specific allocation targets have been set……………………………………….Full Article: Source

Posted on 14 September 2011 by VRS |  Email |Print

The Abu Dhabi Investment Authority, one of the world’s biggest sovereign wealth funds, improved long-term returns in 2010 as the global economy recovered.
ADIA has a 20-year annual rate of return of 7.6 percent, and a 30-year rate of return of 8.1 percent as of the end of last year, the fund said in its annual review published today. This compares to 20-year and 30-year annual returns of 6.5 percent and 8 percent respectively at the end of 2009. The fund didn’t give a return for last year……………………………………….Full Article: Source

Posted on 14 September 2011 by VRS |  Email |Print

The Abu Dhabi Investment Authority issued its yearly statement Tuesday, documenting the investment strategy and holdings of what is considered to be the world’s largest sovereign wealth fund.
ADIA is the biggest of several funds Abu Dhabi uses to manage its oil wealth, controlled by the emirate’s hereditary ruler. Abu Dhabi is the capital of the United Arab Emirates and holder of nearly all the OPEC member’s oil reserves. The federation includes seven semiautonomous city-states and is the world’s third-largest oil exporter……………………………………….Full Article: Source

Posted on 14 September 2011 by VRS |  Email |Print

The Abu Dhabi Investment Authority (ADIA), widely considered to be the world’s largest sovereign wealth fund, yesterday issued its yearly report stating its strategy and holdings, but the 50-page document called the “2010 Review” did not contain highly sought-after information such as balance sheet details or the overall size of the fund.
According to the report, ADIA registered a 20-year annual rate of return of 7.6 per cent and a 30-year rate of return of 8.1 per cent as of the end of last year……………………………………….Full Article: Source

Posted on 14 September 2011 by VRS |  Email |Print

Abu Dhabi Investment Authority (Adia) said in its annual review yesterday that 35 to 45 per cent of its portfolio is currently invested in developed equities while 10 to 20 per cent is in emerging market stocks and up to 20 per cent in government bonds.
The sovereign wealth fund said 35 to 50 per cent of its investments are located in North America, followed by Europe and Asia, while only 15 to 25 per cent is held in emerging markets……………………………………….Full Article: Source

Posted on 14 September 2011 by VRS |  Email |Print

Abu Dhabi Investment Authority, or ADIA, sees the global economic growth to remain hesitant in the near term. The ADIA’s forecast comes as governments in major developed markets begin the sensitive task of cutting potentially burdensome debt levels without undermining growth.
“Returns from equities will gradually revert close to their long-term historical average between six to eight per cent,” the ADIA said in its yearly review issued on Tuesday……………………………………….Full Article: Source

Posted on 14 September 2011 by VRS |  Email |Print

For every nation worth its salt, it is imperative to save and invest a certain proportion of it wealth as part of a deliberate effort to drive growth and development. China, for example, has $827 billion in its SWF, United Arab Emirate $709 billion, Saudi Arabia $444.4 billion, Kuwait $202 billion and Libya $70 billion. The Funds have helped these nations achieve their development objectives.
The Federal Government has tried to take a cue from these countries by setting up its own Sovereign Wealth Fund……………………………………….Full Article: Source

Posted on 14 September 2011 by VRS |  Email |Print

Italy’s finance minister has met with the head of China’s largest sovereign wealth fund CIC as Rome tries to bring down soaring borrowing interest rates, a ministry spokesman says.
Finance Minister Giulio Tremonti met with a Chinese delegation in the Italian capital last week, including Lou Jiwei, the head of the China Investment Corporation, the spokesman told Agence France-Presse on Tuesday, without giving details……………………………………….Full Article: Source

Posted on 14 September 2011 by VRS |  Email |Print

China’s government isn’t likely to ride to the rescue of the debt-hobbled Italian government, analysts said, and buyer interest in an Italian bond auction was decidedly lackluster after news of meetings between Chinese sovereign-wealth officials and Italian leaders had fueled a short-lived rally in world markets Monday.
Sentiment cooled significantly Tuesday, as a €6.5 billion ($8.89 billion) Italian bond auction ended poorly despite yields at euro-era highs……………………………………….Full Article: Source

Posted on 14 September 2011 by VRS |  Email |Print

Britain and Russia have signed an agreement to boost investment opportunities in Russia for UK-based private equity investors as recent major corporate failures have cast a shadow over the future of British business in Russia.
UK Trade and Investment and the Russian Direct Investment Fund (RDIF) signed the deal during British Prime Minister David Cameron’s visit to Russia, whose apparent task was to try to repair relations heavily damaged by the 2006 Litvinenko affair……………………………………….Full Article: Source

Posted on 14 September 2011 by VRS |  Email |Print

Chinese sovereign fund China Investment Corp. has a positive view of Russia’s development and investment potential and it will pay close attention to investment opportunities in Russia, Xinhua news agency reported Tuesday, citing CIC Vice Director of External Affairs Liu Fangyu.
CIC already has some investments in Russia, including stock and debt investments and a small amount of direct investments in the energy, real estate and finance sectors, the report cited Liu as saying……………………………………….Full Article: Source

Posted on 14 September 2011 by VRS |  Email |Print

Khazanah Nasional Bhd will only acquire 10 per cent of shares in AirAsia X Sdn Bhd when there is more clarity in both the financial and business model of the long-haul budget carrier.
“When there is more clarity, we will be interested (to proceed),” its managing director, Tan Sri Azman Mokhtar told reporters, on the sidelines of the Forbes Global CEO Conference……………………………………….Full Article: Source

Posted on 14 September 2011 by VRS |  Email |Print

The purpose of setting up a sovereign wealth fund (SWF) is to maintain stability in the value of reserves and earn better income. Diversification with the discipline of a surplus-to-requirement fund is the name of the game.
The revelation of Minister Thirachai Phuvanatnaranubala’s contention on a SWF is thought provoking. However, in risk management, a SWF should not invest in volatility assets like oil or assets that are already heavily imbedded in Thailand’s economy like rice or agricultural related industry, because of too many eggs in one basket……………………………………….Full Article: Source

Posted on 14 September 2011 by VRS |  Email |Print

The International Forum of Sovereign Wealth Funds is a voluntary association for such funds. Looking at the members, it is easy to see that it is predominantly the commodity-rich nations that have established funds - the oil-rich nations of the United Arab Emirates, Kuwait and Bahrain; the copper-rich Chile.
In the midst of huge commodity booms, these countries are saving some of their wealth to prepare for the challenges of tomorrow………………………………………Full Article: Source

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