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Sovereign Wealth Funds Briefing 12.Mar 2012

Posted on 12 March 2012 by VRS |  Email |Print

Bahrain Mumtalakat Holding Company (Mumtalakat), the investment arm of the Kingdom of Bahrain, has maintained its high ranking for transparency in the independent Linaburg-Maduell Transparency Index issued by the Sovereign Wealth Funds Institute(SWFI). Placed in the top tier of its global peers, the ranking reinforces the institution’s commitment to the highest standards of corporate governance and accountability.
In the quarterly study by the US-based SWF Institute, Mumtalakat was placed alongside the sovereign wealth funds for South Korea and Canada with a rating of nine out of a possible 10………………………………………..Full Article: Source

Posted on 12 March 2012 by VRS |  Email |Print

The Institute for Applied Economics (AIAE) has identified three pitfalls that are inimical to the successful implementation of the sovereign wealth fund (SWF). The Executive Director (AIAE), Eric Eboh, at a seminar on SWF in Abuja said the debate about the SWF has shifted from its constitutional correctness to the imperatives for sound management and sustainable governance.
He noted that the initial resistance and reluctance to the idea by sub-national layers of government have given way to discussions about implementation and governance………………………………………..Full Article: Source

Posted on 12 March 2012 by VRS |  Email |Print

The Abu Dhabi Investment Authority (ADIA) plans to diversify away from realty and private equity funds by investing directly in Indian real estate, sources familiar with the matter told Reuters.
ADIA’s investments in Indian real estate to date total $400-$500 million, largely through property and private equity funds, and the fund is now scouting for direct investment opportunities, one of the sources told Reuters………………………………………..Full Article: Source

Posted on 12 March 2012 by VRS |  Email |Print

Abu Dhabi’s sovereign wealth fund has denied a media report claiming it is considering investing in a US$1.25bn stake in a British shopping mall. A newspaper article published in The Telegraph newspaper had said that the Abu Dhabi Investment Authority could be interested in acquiring a 50 percent stake in Meadowhall, a retail outlet based in Sheffield, a city in northern England.
However, in an emailed statement to Arabian Business, a spokesperson for Abu Dhabi Investment Authority denied there was any truth to the speculation: “The article is not accurate. We are not looking at this asset.”……………………………………….Full Article: Source

Posted on 12 March 2012 by VRS |  Email |Print

Two U.K. shopping centers are attracting investors from Norway, Singapore and Abu Dhabi, the Sunday Telegraph said, citing people familiar with the deals.
Interested parties include Norges Bank Investment Management (WAC), Government of Singapore Investment Corp. and the Abu Dhabi Investment Authority, the Sunday Telegraph reported………………………………………..Full Article: Source

Posted on 12 March 2012 by VRS |  Email |Print

Kuwait Investment Authority (KIA) has obtained an initial 300 million US dollars quota to buy yuan-denominated stocks and bonds, the Chinese authorities announced, a major step for Kuwait’s sovereign wealth fund to diversify its investment options through its Beijing office.
The State Administration of Foreign Exchange (SAFE) allows KIA to initially invest up to $300 million in mainland China’s securities market as a qualified foreign institutional investor (QFII), according to SAFE’s official announcement over the weekend………………………………………..Full Article: Source

Posted on 12 March 2012 by VRS |  Email |Print

Kuwait Investment Authority (KIA) has obtained an initial USD 300 million quota to buy yuan-denominated stocks and bonds, the Chinese authorities announced, a major step for Kuwait’s sovereign wealth fund to diversify its investment options through its Beijing office.
The State Administration of Foreign Exchange (SAFE) allows KIA to initially invest up to USD 300 million in mainland China’s securities market as a qualified foreign institutional investor (QFII), according to SAFE’s official announcement over the weekend………………………………………..Full Article: Source

Posted on 12 March 2012 by VRS |  Email |Print

Indian equity market has done a volte face in 2012 and the Sensex galloped 19 per cent higher in the first two months. Sovereign wealth funds (SWFs) are said to be another class of investors that have turned bullish on Indian equity.
Many SWFs, including Abu Dhabi Investment Authority, Singapore’s GIC and Fullerton Fund Management Company and Kuwait Investment Authority, are already investing in Indian stocks through the FII route………………………………………..Full Article: Source

Posted on 12 March 2012 by VRS |  Email |Print

Singapore state-investment firm Temasek Holdings has reduced its stake in Sembcorp Marine Ltd. (S51.SG) to 60.91% from 63.95%, the rigbuilder said in a filing to the Singapore Exchange Monday.
Sembcorp Marine said Temasek’s stake in the company stood at 1.27 billion shares as of March 9, from 1.33 billion shares before the divestment. The filing confirms a report earlier this month that Temasek sold a 3% stake in Sembcorp Marine………………………………………..Full Article: Source

Posted on 12 March 2012 by VRS |  Email |Print

Western Australia’s top finance official said Friday that the mineral-rich state is confident of establishing a type of sovereign wealth fund later this year without resorting to debt.
“We are not borrowing money for a future fund,” State Treasurer Christian Porter told Dow Jones Newswires in an interview. “We’re confident that we can create it (the fund) but it is a very challenging environment.”……………………………………….Full Article: Source

Posted on 12 March 2012 by VRS |  Email |Print

Treasury Secretary Martin Parkinson spoke about the sovereign wealth fund debate and in so doing underlined one of the main arguments for establishing another sovereign wealth fund (as he notes we already have one – the Future Fund). This is what Martin Parkinson said:
“At the same time, there is an emerging debate about the desirability of a sovereign wealth fund. Putting aside the fact we already have a sovereign wealth fund (the Future Fund), the conflicting objectives of the different proponents of a new SWF, and whether our superannuation system already has some of the characteristics sought in a new fund, it is worth making a fairly straightforward observation………………………………………..Full Article: Source

Posted on 12 March 2012 by VRS |  Email |Print

Morgan Stanley Australia is looking to the future. Country managing director Steve Harker is the frontrunner to become a guardian of the 73 billion Australian dollar (US$77.15 billion) Future Fund when Brian Watson retires from the post in April, a person familiar with the matter told Deal Journal Australia.
The decision, expected to be announced on Tuesday, may see two key Morgan Stanley figures in the fund. According to press reports, David Gonski, an advisor to the bank, is expected to take over as the Fund’s chairman this year………………………………………..Full Article: Source

Posted on 12 March 2012 by VRS |  Email |Print

The masters of the world’s sovereign wealth funds have increasingly large numbers of supplicants beating a path to their door, but that has not daunted Birmingham City Council from adding to their number.
The UK’s second city, the ‘Venice of the North’, is looking to go into partnership with the world’s biggest sovereign wealth funds, aiming to channel £1bn of investment into the city council’s property portfolio………………………………………..Full Article: Source

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