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Sovereign Wealth Funds Briefing 03.May 2012

Posted on 03 May 2012 by VRS |  Email |Print

China’s sovereign wealth fund launched a mutual fund with a national investment company from Belgium to help Chinese companies boost investments in the country as well as in the European Union.
China Investment Corporation and Belgium’s Federal Holding and Investment Company signed an agreement in Brussels on Wednesday launching the China-Belgium Mirror Fund. Belgium will become a very important platform for Chinese companies to expand in all 27 member countries of the EU, said Vice-Premier Li Keqiang………………………………………..Full Article: Source

Posted on 03 May 2012 by VRS |  Email |Print

Singapore’s Temasek Holdings’ every move is being watched closely by any observer of China’s banking sector. In its latest portfolio reshuffling, it has sold down stakes in two Chinese banks, again.
On Thursday, Dow Jones Newswires reports that sovereign wealth fund Temasek raised US$2.48 billion through share sales in two state-owned banks, Bank of China Ltd. and China Construction Bank Ltd., via placements. The sales come as both CCB and Bank of China have gained 14% so far this year in Hong Kong………………………………………..Full Article: Source

Posted on 03 May 2012 by VRS |  Email |Print

Temasek Holdings said Thursday it had cut its stakes in two of China’s largest banks by selling shares worth $2.48 billion.
The limited retreat from China Construction Bank (CCB) and Bank of China (BOC) is a “rebalancing” of its China portfolio after it upped its stake in mainland lending giant ICBC Bank in mid-April, a Temasek spokesman told AFP………………………………………..Full Article: Source

Posted on 03 May 2012 by VRS |  Email |Print

Khazanah Nasional Bhd, the investment holding arm of the Malaysian government, said Wednesday it will unwind a share swap agreement involving Malaysian Airline System Bhd and AirAsia Bhd, reverting to the original shareholding of the major shareholdings of the two airlines.
Khazanah Nasional will transfer 277.65 million shares, or a 10% stake, in AirAsia to Tune Air Sdn Bhd while Tune Air will transfer its 685.14 million shares–equivalent to a 20.5% stake in Malaysian Airline–back to Khazanah, according to a Khazanah Nasional statement. The transfer will be done at the original swap ratio and price, it said………………………………………..Full Article: Source

Posted on 03 May 2012 by VRS |  Email |Print

It’s official now. Khazanah Nasional Bhd announced late yesterday evening that the share swap deal between Malaysia Airlines (MAS) and AirAsia Bhd has been called off. “After eight months, our assessment is that, the cross-holding of shares has become a distraction to management’s efforts to turn around MAS.
“The cross-holding of shares was well-intended to simply better align the economic interests on the part of the major shareholders of MAS (Khazanah) and AirAsia (Tune Air),” the government’s investment arm said in a statement………………………………………..Full Article: Source

Posted on 03 May 2012 by VRS |  Email |Print

The Belgian and Chinese sovereign wealth funds on Wednesday, May 2, became the founding investors in a private equity growth fund aimed at backing European companies with expansion plans for China.
In a signing ceremony attended by Chinese Vice Premier Li Keqiang and Belgian Prime Minister Elio di Rupo, China Investment Corp. and Belgium’s Federal Holding and Investment Co., SPIF/FPIM, announced investments in A Capital China Outbound, a Luxembourg growth capital fund with a soft target of €250 million ($329 million) and a hard cap of €500 million………………………………………..Full Article: Source

Posted on 03 May 2012 by VRS |  Email |Print

Russia’s sovereign-wealth fund, whose advisers include Blackstone Group LP (BX)’s Stephen Schwarzman, may complete deals with U.S. buyout firms valued at more than $1 billion each this year, its chief executive officer said.
The Russian Direct Investment Fund is working with American investors on acquiring minority stakes in Russian companies, CEO Kirill Dmitriev said yesterday in an interview at the Milken Institute Global Conference………………………………………..Full Article: Source

Posted on 03 May 2012 by VRS |  Email |Print

French sovereign fund Fonds Strategique d’Investissement, or FSI, together with another investor, might buy a stake in Technicolor SA (TCH.FR), a troubled cinema production services provider and manufacturer of TV set-top boxes, said Industry Minister Eric Besson Wednesday in a statement.
Earlier Wednesday, Technicolor asked the stock market to suspend the trading of its shares after it received a proposal from an unidentified international institutional investor to take a minority stake in the company………………………………………..Full Article: Source

Posted on 03 May 2012 by VRS |  Email |Print

The fund that siphons off Iran’s oil revenue for future social investment will reach $50 billion by the end of this year, which ends on March 20, 2013, said Finance and Economic Affairs minister Shamseddin Hosseini.
20 per cent of Iran’s oil revenues each year are deposited into Iran’s National Development Fund. “Last year, the fund’s reserve hit $30 billion. This year, its reserve will be dependent on oil prices,” Hosseini said………………………………………..Full Article: Source

Posted on 03 May 2012 by VRS |  Email |Print

The Palestinian sovereign wealth fund is aiming to boost the private sector and wean the strife-torn region off aid, with investments in sectors like tourism and power generating profits despite difficult relations with Israel, its boss said.
While most other, much larger, sovereign wealth funds invest heavily abroad in a bid to spread risk and maximize returns, the Palestine Investment Fund (PIF) is focused on developing the local economy. ……………………………………….Full Article: Source

Posted on 03 May 2012 by VRS |  Email |Print

The investor class of sovereign wealth funds has now crossed the US$ 5 trillion mark. SWF assets are now at US$ 5.004 trillion.
Sovereign wealth funds as an investor class continues to grow due to a variety of factors including investment performance, resource tax transfers, and the proliferation of new sovereign funds………………………………………..Full Article: Source

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