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Sovereign Wealth Funds Briefing 15.May 2012

Posted on 15 May 2012 by VRS |  Email |Print

John NicolaouWestern Australia cannot afford a sovereign wealth fund and will be financially straightjacketed if it is introduced by the Colin Barnett-led government, the state’s peak business lobby group says.
The Liberal leader last year said the state was considering introducing a Norway-style sovereign wealth fund for a portion of royalty income or budget surpluses so future generations could benefit from its strong resources sector………………………………………..Full Article: Source

Posted on 15 May 2012 by VRS |  Email |Print

Christian PorterEnsuring the State squeezes the most out of the mining boom by investing in ports and roads should be the Government’s priority rather than a future fund, WA’s main business lobby group says.
With the sovereign wealth fund expected to form a centrepiece of Treasurer Christian Porter’s Budget on Thursday, the Chamber of Commerce and Industry released a discussion paper that argues rising State Government debt levels further undermine the idea………………………………………..Full Article: Source

Posted on 15 May 2012 by VRS |  Email |Print

The State Government will tap the Royalties for Regions scheme in Thursday’s Budget to help establish a separate fund for future generations. The move is seen as an attempt to deflect criticism it is not doing enough to spread the benefits of the boom.
But WA’s peak business lobby group attacked the sovereign wealth fund proposal, saying the Government should instead invest in ports and cut taxes before ploughing millions worth of mining royalties into a bank account for a rainy day………………………………………..Full Article: Source

Posted on 15 May 2012 by VRS |  Email |Print

South Korea’s National Pension Service, the country’s biggest investor, plans to seek approval to buy more yuan-denominated Chinese stocks after using up the initial quota of $100 million it received in March.
The Bank of Korea, the nation’s central bank, said in March it received permission to invest $300 million in China, while Korea Investment Corp., the sovereign wealth fund, said the same month it was granted a quota of $200 million………………………………………..Full Article: Source

Posted on 15 May 2012 by VRS |  Email |Print

Under the direction of Shaikh Hamdan bin Mohammed bin Rashid Al Maktoum, Crown Prince of Dubai, Investment Corporation of Dubai, or ICD, a sovereign wealth fund owned by the Government of Dubai, signed a memorandum of understanding on Monday with Samsung Life Insurance, or SLI, a South Korean-listed life insurer and part of the diversified Samsung group of companies, to form an alliance to explore international opportunities in the life insurance sector, with a strong focus in emerging markets.……………………………………….Full Article: Source

Posted on 15 May 2012 by VRS |  Email |Print

Abu Dhabi-based investment company Invest AD and US private investment company Paladin Capital Group have established a private equity joint venture that will channel investments into the Middle East and North Africa (Mena) region and Turkey.
The joint venture between Paladin Capital (Middle East) Limited, a company registered in the Dubai International Financial Centre and regulated by the Dubai Financial Services Authority, and Invest AD, a subsidiary of the Abu Dhabi Investment Council — a leading sovereign wealth fund — plans to launch a $100m fund to tap growing global investor interest in new emerging markets growth opportunities………………………………………..Full Article: Source

Posted on 15 May 2012 by VRS |  Email |Print

Abu Dhabi’s burgeoning footprint in the northern English city of Manchester could soon stretch from the football pitch to the runway.
Abu Dhabi Investment Authority (Adia) is interested in acquiring a stake in Manchester Airports Group, which also owns three additional facilities in Bournemouth, Humberside and the East Midlands. It is understood an investment could pave the way for the acquisition of Stansted Airport in the south-east of the country………………………………………..Full Article: Source

Posted on 15 May 2012 by VRS |  Email |Print

The United Arab Emirates’ largest construction company by market value Arabtec Construction on Monday denied media reports that its shareholder Aabar, sovereign wealth fund from Abu Dhabi, has increased its stake in the firm to 53 percent.
“Aabar Investment’s stake in our firm stands at 20.76 percent and not at 53 percent as reported,” Arabtec Construction said in a statement to the Dubai Financial Market (DFM)………………………………………..Full Article: Source

Posted on 15 May 2012 by VRS |  Email |Print

The State Oil Fund of Azerbaijan, the nation’s sovereign wealth fund, plans to create a specialised structure for investing in real estate and to start allocating capital in the next 3-4 months. It will target some 5% of its $32bn in AUM primarily at European property.
SOFAZ MD Israfil Mammadov told a local real estate magazine in the nation’s capital Baku earlier this month: “The State Oil Fund will begin investing in real estate within the next three-four months.” ……………………………………….Full Article: Source

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