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Sovereign Wealth Funds Briefing 14.Mar 2012

Posted on 14 March 2012 by VRS |  Email |Print

David GonskiBusinessman and ASX Group chairman David Gonski was appointed chairman of the Australian government’s sovereign wealth fund, replacing David Murray who is retiring, Treasurer Wayne Swan said on Tuesday.
Gonski will take over as chairman of the Future Fund, which has more than A$90 billion of assets under management, for a five-year term from April 3. Gonski is also a director of Singapore Airlines Ltd……………………………………….Full Article: Source

Posted on 14 March 2012 by VRS |  Email |Print

ASX Ltd. (ASX) Chairman David Gonski will step down from his role at Australia’s main stock market operator after being appointed to oversee almost A$90 billion ($95 billion) in the nation’s sovereign-wealth funds.
Gonski, 58, will run the Australian Future Fund as well as the country’s nation-building funds that invest in infrastructure, Treasurer Wayne Swan said in a statement yesterday. Steven Harker, chief executive officer of Morgan Stanley (MS)’s Australian (AS51) unit, was named to the board………………………………………..Full Article: Source

Posted on 14 March 2012 by VRS |  Email |Print

The Federal Government is under pressure to announce David Murray’s successor as chairman of the Future Fund. Mr Murray is known to be frustrated by the disruption being caused by the delayed appointment.……………………………………….Full Article: Source

Posted on 14 March 2012 by VRS |  Email |Print

Malcolm Turnbull is the new twit on the block - presumably aiming to out-twit our world champion Treasurer and, well, twit, Wayne Swan. Earlier in the week, writing for the Business Spectator website, Turnbull launched into a very silly call for Australia to launch a sovereign wealth fund.
And not only silly. It demonstrated once again but this time with undeniable clarity that Turnbull’s in the wrong party. His instincts are all, all, collectivist. And controlling - of your money. In a piece littered with silliness, where do you start?……………………………………….Full Article: Source

Posted on 14 March 2012 by VRS |  Email |Print

South Korea’s sovereign wealth fund has received a regulated quota of $200 million to invest in China’s stock and bond markets, officials said Tuesday.
Korea Investment Corp. received the investment quota from the Chinese State Administration of Foreign Exchange about three months after it was granted a license to join China’s qualified foreign institutional investor (QFII) program, a source at the company said………………………………………..Full Article: Source

Posted on 14 March 2012 by VRS |  Email |Print

Malaysia’s Khazanah Nasional triples its ownership in CIMB Group Holdings Bhd, one of Malaysia’s leading banks. The company, which describes itself as “a leading regional strategic investment house that drives superior corporate performance,” now owns 29.9% of CIMB, a massive leap from its previous holdings of just 1%.
Sources said the increase in ownership is part of Khazanah’s strategy of seeking new sources of growth. It could also be a prelude to a larger objective by the sovereign wealth fund that sees CIMB as a core competitive asset………………………………………..Full Article: Source

Posted on 14 March 2012 by VRS |  Email |Print

The much anticipated Sovereign Wealth Fund (SWF) bill passed by Parliament is a control mechanism to stabilise the revenue and expenditure to make sure there is tangible development in PNG economy.
Director for Institute of National Affairs (INA) Paul Baker said that the government introduced SWF to control money coming in and going out of the country which will be invested or kept offshore and managed onshore. Baker said that SWF is replacing the trust account which recorded windfalls in 2008………………………………………..Full Article: Source

Posted on 14 March 2012 by VRS |  Email |Print

The sovereign wealth fund of Qatar has built up a 2 percent stake in France’s oil major Total since last summer, according to newspaper Les Echos.
The stake is now worth more than 2 billion euros, the paper wrote in its Wednesday edition without citing its sources. The oil-rich state of Qatar is now among Total’s top five shareholders, after the company’s employees, and Belgian investor Albert Frere………………………………………..Full Article: Source

Posted on 14 March 2012 by VRS |  Email |Print

Qatar Investment Authority may acquire a minority stake in Violet Arch Capital Advisors. Violet Arch provides I-banking, Securities Trading, Research, Funds Management and other related products to institutional, corporate, and high net worth clients.
Violet Arch started its operations by acquisition of Alchemy Shares & Stock Brokers from its promoters and Rakesh Jhunjhunwala. Recently, it partnered with Berenson & Co, a New York-based leading merchant bank, as a strategic investor by selling around 7% stake………………………………………..Full Article: Source

Posted on 14 March 2012 by VRS |  Email |Print

The chief executive of the Bahraini sovereign wealth fund Mumtalakat Holdings has stepped down following the completion of his four-year term. The move follows a difficult period for the fund which has posted losses in its past three years, according to its published accounts.
Talal Al Zain was a founding member of the Mumtalakat Holding Company when it was launched by royal decree in 2006 as an independent holding company for the government of Bahrain’s strategic non-oil and gas related assets………………………………………..Full Article: Source

Posted on 14 March 2012 by VRS |  Email |Print

Bahrain Mumtalakat Holding Company (Mumtalakat), the investment arm 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 14 March 2012 by VRS |  Email |Print

Abu Dhabi’s move to merge builders Aldar Properties and Sorouh Real Estate is geared towards shoring up sovereign wealth fund Mubadala and stabilising the emirate’s brittle real estate market.
Bankers say that a deal is likely to be effected through a share swap, which would dilute Mubadala’s sizeable stake in Aldar, a developer hit by stagnant sales and falling asset prices, and improve its ability to tap capital markets………………………………………..Full Article: Source

Posted on 14 March 2012 by VRS |  Email |Print

The State Oil Fund of Azerbaijan (SOFAZ) attracts managers for passive management of portfolio, SOFAZ said on Monday. MSCI World index has been adopted as a “benchmark” for the proposed portfolio of shares.
Investment managers (of a company) must meet the following requirements: to have before December 31, 2011 experience in managing stocks for a period not less than five years; have means worth at least $50 billion, indexed for the company’s management of passive index of; must register under the investment advisers act of 1940 or in accordance with the laws of other countries where they……………………………………….Full Article: Source

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