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Sovereign Wealth Funds Briefing 22.May 2012

Posted on 22 May 2012 by VRS |  Email |Print

D.S. RawatWith debt loads sinking weaker economies worldwide, India ought to aim at setting up a sovereign wealth fund (SWF) which is financially viable and have a broader objective of furthering the country`s role as a global player, industry chamber Assocham said.
There are more than 50 sovereign wealth funds managing assets worth nearly USD 3 trillion. Most of these are run by countries with huge trade surpluses and are funded mostly by oil and gas exports. India is the only BRIC nation that does not have a SWF, said The Associated Chambers of Commerce and Industry of India (Assocham)………………………………………..Full Article: Source

Posted on 22 May 2012 by VRS |  Email |Print

Nick TolchardGovernments and sovereign wealth funds (SWFs) in the Middle East are investing less internationally than they have done at any point in the last three years. The third annual Invesco Middle East Asset Management Study analysed the revenues and investment behaviours of major SWFs in the GCC, which account for 35% of global SWF flows, representing $1.6 trillion.
The study found that the international flow of money directly from GCC sovereign governments and from SWFs has changed considerably in light of the political unrest in the region, with large commodity-linked surpluses in these regions increasingly being put to use locally………………………………………..Full Article: Source

Posted on 22 May 2012 by VRS |  Email |Print

A shift in focus from global to local investments by the big Gulf sovereign wealth funds after the Arab Spring is set to step up competition among Western governments, asset managers and companies hoping for some of their cash, a study by US fund manager Invesco Ltd showed.
“Western governments, including the UK, have approached SWFs (the funds) from the Middle East to help with economic recovery, but many will fight a losing battle,” Nick Tolchard, head of Invesco Middle East told reporters at a conference in Dubai. “There is certainly less money to invest internationally so the stakes are higher.”……………………………………….Full Article: Source

Posted on 22 May 2012 by VRS |  Email |Print

Legal tussle over the proposed creation of a “Sovereign Wealth Fund” assumed a fresh dimension, yesterday, as Governors of the 36 states of the federation approached the Supreme Court, asking it to abort plans by the Federal Government to withdraw $2 billion from the “Excess Crude Account.”
The governors made the request on a day they told a seven-man panel of Justices of the apex court, presided by Chief Justice of Nigeria, CJN, Justice Dahiru Musdapher, why they failed to reach agreement with the Federal Government, regarding its plans to transfer $1 billion from the “Excess Crude Account” to a new account to be known as the “Sovereign Wealth Fund.”……………………………………….Full Article: Source

Posted on 22 May 2012 by VRS |  Email |Print

A full panel of the Supreme Court, headed by the Chief Justice of Nigeria (CJN), Justice Dahiru Musdapher, on Monday, fixed September 25 for definite hearing in the suit filed by the 36 states of the federation against the Federal Government, challenging the legality of the Excess Crude Account and the decision to transfer $1 billion from the account to the Sovereign Wealth Funds.
The Federal Government had, before now, asked the court for time to enable it to settle the matter out of court………………………………………..Full Article: Source

Posted on 22 May 2012 by VRS |  Email |Print

Plans by the Federal Government to transfer $1 billion from the Excess Crude Account to a new account to be known as the “Sovereign Wealth Fund,” may have met a brick wall, as Governors of the 36 states of the Federation, have threatened to dump the out-of-court settlement deal.
This is even as the Chief Justice of Nigeria, CJN, Justice Dahiru Musdapher, has directed the Federal Government and the governors to appear before the apex court today with their report of settlement or be ready for a full-blown hearing into the substantive matter………………………………………..Full Article: Source

Posted on 22 May 2012 by VRS |  Email |Print

Indications emerged on Monday that the peace talks between the Federal Government and the 36 states over the legality of the Excess Crude Account (ECA) have collapsed.
A full panel of the Supreme Court headed by the Chief Justice of Nigeria (CJN), Justice Dahiru Musdapher on Monday fixed September 25 for definite hearing of the suit filed by the states………………………………………..Full Article: Source

Posted on 22 May 2012 by VRS |  Email |Print

Temasek Holdings Pte, Singapore’s state-owned investment company, said it expects the markets to enter a “period of stress” for the next one to two years amid the European debt crisis, adding risks to investments.
European leaders will do “everything necessary” to keep Greece in the 17-nation euro, German Finance Minister Wolfgang Schaeuble said yesterday. Group of Eight leaders on May 19 urged Greece to stay within the euro area as polls in the country showed a close race between parties supporting and opposing the European Union bailout deal………………………………………..Full Article: Source

Posted on 22 May 2012 by VRS |  Email |Print

Temasek is a long-term investor, investing for our future generations. Our investment decisions are based on our fundamental assessment of long-term value.
Temasek’s investments in listed companies are disclosed in various stock exchanges, in full accordance with regulatory requirements. We also disclose our major holdings annually in our Temasek Review (www.temasekreview.com.sg)………………………………………..Full Article: Source

Posted on 22 May 2012 by VRS |  Email |Print

Alibaba Group Holdings Ltd. is in talks with Singapore state investment company Temasek Holdings Pte. Ltd. to help it finance a $7.1 billion purchase of its shares from Yahoo Inc., people familiar with the situation said Monday.
Temasek may provide about $500 million if the negotiations are successful, these people said. Late Sunday, Yahoo struck a deal under which it will sell up to half of its 40% stake in Alibaba in a taxable transaction………………………………………..Full Article: Source

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