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Sovereign Wealth Funds Briefing 11.May 2012

Posted on 11 May 2012 by VRS |  Email |Print

China Investment Corp., the nation’s sovereign wealth fund, wants to shift more capital to emerging markets from the U.S. and Europe, where the economies are more mature and sometimes less welcoming of Chinese money, according to a top fund official.
“We have patience and we don’t mind turbulence,” Gao Xiqing, CIC’s president, said in an interview Thursday. “It’s a natural shift if you have the risk appetite, and we do.”……………………………………….Full Article: Source

Posted on 11 May 2012 by VRS |  Email |Print

That China has finally given up on Europe is no news (granted, however, it will make it more complicated for various European newspaper to make up articles alleging China will bail out Europe now that this is no longer the case): after all even the Norwegian sovereign wealth fund has finally learned its lesson, and having been burned enough times, has made it quite clear it will have nothing to do with Europe’s insolvent periphery.
China, which has already lost enough money on Europe, has now decided to do the same………………………………………..Full Article: Source

Posted on 11 May 2012 by VRS |  Email |Print

Gao Xiqing, president of China Investment Corp., said the nation’s sovereign wealth fund has stopped buying European government debt on concerns about the region’s financial turmoil.
CIC will continue to look for new investments in Europe as part of its strategy to boost allocations to infrastructure, private-equity assets as well as emerging markets to help boost returns, Gao said………………………………………..Full Article: Source

Posted on 11 May 2012 by VRS |  Email |Print

The ongoing European debt crisis may have stopped China’s sovereign wealth fund from investing in government bonds from the continent, but it will seek other high-return projects there.
China Investment Corp, the country’s sovereign wealth fund with about $410 billion in assets, has taken a cautious approach to Europe since the debt crisis erupted three years ago………………………………………..Full Article: Source

Posted on 11 May 2012 by VRS |  Email |Print

The Australian Government believes that a sovereign wealth fund is unnecessary. The May 2012 Budget papers argue that the superannuation system achieves the goal of increasing savings.
There is also no need for a stabilisation fund at present, as government savings can be increased or decreased through existing fiscal rules and financial institutions………………………………………..Full Article: Source

Posted on 11 May 2012 by VRS |  Email |Print

Qatar’s sovereign wealth fund plans to increase its stake in Xstrata Plc to at least 10 percent. Qatar is expected to continue building its stake, currently at 8.5 percent, to 10 percent and could go higher, people familiar with the matter are quoted as saying.
The Gulf state is the second largest investor in Xstrata behind commodities trader Glencore International Plc, which has agreed a $37 billion takeover of the miner, due for completion in the third quarter of 2012………………………………………..Full Article: Source

Posted on 11 May 2012 by VRS |  Email |Print

Mubadala Development Company , the strategic investment firm owned by the Abu Dhabi government, amassed $8bn in capital commitment by the end of last year, and expects to deploy the majority of that this year, said a prospectus.
“Committed capital and investment expenditure reflects amounts which it is legally committed to expend in future years, although the majority of the expenditure is expected to be incurred in the 12 months ending 31 December 2012,” said the report………………………………………..Full Article: Source

Posted on 11 May 2012 by VRS |  Email |Print

Over the next 10-15 years, the State Oil Fund’s (SOFAZ) assets will reach $ 200 billion, SOFAZ Chief Shahmar Movsumov said in an interview with The business year.
He said that, according to forecasts, SOFAZ assets will reach a level of $ 34 billion by the end of 2012, compared to $ 29.8 billion last year. “This forecast is made based on the rate of $ 100 per barrel of oil,” Movsumov said………………………………………..Full Article: Source

Posted on 11 May 2012 by VRS |  Email |Print

The State Oil Company of Azerbaijan (SOCAR) has announced next statistic data on Azeri oil export via main export pipeline Baku-Tbilisi-Ceyhan (BTC) named after Heydar Aliyev.
In April 1.847 million tons of overall shipping accounted for the State Oil Fund of Azerbaijan (SOFAZ) against 1.938 million tons in March, 1.358 million tons in February, 1.9 million this January and 2.5 million tons in April 2011 (the 2011 best index). The entire income from this part of exports will go to the assets of SOFAZ………………………………………..Full Article: Source

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