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Sovereign Wealth Funds Briefing 02.Mar 2012

Posted on 02 March 2012 by VRS |  Email |Print

Sovereign wealth funds are shying away from making large mergers and acquisitions, at least in public, with announced activity volumes tumbling to less than a tenth of last year, Thomson Reuters data shows.
Worldwide announced M&A volumes involving these funds, a giant $4-5 trillion industry which manages windfall revenues for future generations, fell to $787 million in January to Feb 28, compared with $8.6 billion in the same period last year………………………………………….Full Article: Source

Posted on 02 March 2012 by VRS |  Email |Print

Zimbabwe needs to set up a sovereign wealth fund for revenue from its Marange diamond fields, Finance Minister Tendai Biti said.
There is a “clear gap” between gems being sold in Zimbabwe and the amount of money reaching government, Biti told a conference in Johannesburg today. He said it wasn’t “proper” for Zimbabwe’s state-owned mining company, the Zimbabwe Mining Development Corp., to manage the southern African nation’s diamond production………………………………………….Full Article: Source

Posted on 02 March 2012 by VRS |  Email |Print

“No one is as wise as the experienced” goes the Hebrew adage, and yet Israel ironically seldom followed this advice, partly because the challenges it faced, from farming the desert to resurrecting a language, were such that no one had experience handling them and partly because Israelis were good improvisers but bad planners.
Well, for once this pattern is being broken, after the government decided last week to establish a sovereign-wealth fund where it will deposit its natural-gas revenue………………………………………….Full Article: Source

Posted on 02 March 2012 by VRS |  Email |Print

Temasek Holdings’ equity stake in DBS Group Holdings Ltd. (D05.SG, DBSDY), southeast Asia’s largest bank by assets, has risen by 1.78 percentage points after a unit of the state investor converted preference shares.
Maju Holdings Pte. Ltd., a wholly owned unit of Temasek, converted 181,915 convertible preference shares and 69,845,734 redeemable convertible preference shares of DBS Group into ordinary shares on Feb. 28, which caused the change, DBS Group said in a statement to Singapore Exchange late Thursday. …………………………………………Full Article: Source

Posted on 02 March 2012 by VRS |  Email |Print

Singapore Telecommunications (SingTel) early this morning priced a $700 million five-and-a-half-year bond, attracting strong demand from high-quality accounts. The bonds priced at Treasuries plus 150bp, about 12.5bp inside the initial guidance, which was around Treasuries plus 162.5bp.
The Temasek-linked firm is the incumbent telco in Singapore and, thanks to its parentage and high rating, investors expected the deal to sail through. “The SingTel deal will do well. It’s a quasi sovereign name and there is a lack of paper so there will be a lot of demand from long-only accounts,” said one Hong Kong-based fund manager on Thursday afternoon………………………………………….Full Article: Source

Posted on 02 March 2012 by VRS |  Email |Print

Brazil’s real rose after Finance Minister Guido Mantega said the government wasn’t considering taxes on foreign direct investments as he laid out a plan to stem the currency’s appreciation, easing investor concern policy makers would take stronger steps to limit capital inflows.
Mantega said policy makers can also use the sovereign wealth fund to buy dollars to protect the real from excessive global liquidity. ………………………………………….Full Article: Source

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