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Sovereign Wealth Funds Briefing 25.May 2012

Posted on 25 May 2012 by VRS |  Email |Print

The China Investment Corp. is in advanced talks to add as much as $2 billion into the Alibaba Group to hlep finance the Internet company’s efforts to buy back a stake from Yahoo, a person briefed on the matter said Thursday.
The Chinese Investment Corp., known as CIC, a $200 billion Chinese sovereign wealth fund, is one of several potential partners from whom Alibaba would raise money to pay for the stake repurchase. On Sunday, Alibaba announced a long-awaited deal to buy back half of Yahoo’s 40 percent stake in the company for $7.1 billion………………………………………..Full Article: Source

Posted on 25 May 2012 by VRS |  Email |Print

Sovereign wealth fund China Investment Corp (CIC) is in advanced talks to buy an up to $2 billion stake in Alibaba Group, sources told Reuters, as the Chinese e-commerce powerhouse looks to secure the last of the funding it needs to buy back part of its stake from Yahoo Inc.
The involvement of CIC, China’s giant sovereign wealth fund which manages around $410 billion in assets, underlines the significance of the deal Alibaba has struck with Yahoo, which returns voting control back to founder Jack Ma………………………………………..Full Article: Source

Posted on 25 May 2012 by VRS |  Email |Print

China will continue to support Europe’s attempts to overcome its eurozone crisis and Europe should be more open to inflows of capital, particularly at a time when the region needs liquidity, said a top official from China’s sovereign wealth fund.
“China’s commitment to supporting Europe and its efforts to deal with the sovereign debt crisis is firm and unambiguous,” Jin Liqun, chairman of the board of supervisors of China Investment Corp, said at an event held on Tuesday by the Center for Policy Studies, a think tank in the United Kingdom………………………………………..Full Article: Source

Posted on 25 May 2012 by VRS |  Email |Print

How disingenuous can the Future Fund’s officers be? The federal government helped formulate and approve the United Nations policy on investments – no tobacco or armaments allowed.
When the Future Fund was being set up, its officers visited the United Nations Pension Fund in New York to which the Future Fund is directly comparable, as both funds provide superannuation payments to civil servants………………………………………..Full Article: Source

Posted on 25 May 2012 by VRS |  Email |Print

Australian fund managers may be on the other side of the world from the drama unfolding in Europe, but local wealth managers are nonetheless feeling the impact from the region’s debt crisis.
Australia’s A$77 billion Future Fund had A$4.32 billion, or 5.77% of its total equity and debt program, invested in Europe as of February 14, according to data supplied to the country’s parliament. Of that, less than 0.4% was in Europe’s most troubled countries–Greece, Portugal, Spain, Ireland and Italy………………………………………..Full Article: Source

Posted on 25 May 2012 by VRS |  Email |Print

Sensitive details on the inner workings of the Future Fund were divulged when the general manager of the federal public service pension fund, Mark Burgess, faced his routine interrogation in Canberra.
It has emerged that the fund’s new chairman, David Gonski, is more of a morning person compared with his predecessor, the former Commonwealth Bank chief David Murray………………………………………..Full Article: Source

Posted on 25 May 2012 by VRS |  Email |Print

Non-Governmental organisations in Zimbabwe have called on Government to urgently establish a Sovereign Wealth Fund as back-up when diamonds have been exhausted. Dr Cephas Zinhumwe, the chief executive officer of the National Association of Non-Governmental Organisations, made the plea.
“Government needs to establish a Sovereign Wealth Fund . . . Diamonds are a finite resource and we must plan for the future when these minerals run out,” Dr Zinhumwe said in his presentation………………………………………..Full Article: Source

Posted on 25 May 2012 by VRS |  Email |Print

Kazakhstan has invested into the US economy a total of $41 billion, Newskaz.ru reports, citing the Kazakh Central Bank Governor Gregory Marchenko as saying May 24.
The National Fund of Kazakhstan was created in 2000 as a stabilization fund that accumulates windfall revenues from oil sales and ensures the economy of Kazakhstan will be stable against the price swings of oil. The assets of the National Fund assets are monitored by the National Bank of the Republic of Kazakhstan………………………………………..Full Article: Source

Posted on 25 May 2012 by VRS |  Email |Print

Sovereign governments and sovereign wealth funds (SWFs) are investing less internationally than they have done at any point in the last three years, according to the third annual Invesco Middle East Asset Management Study.
Gulf Cooperation Council (GCC) sovereign states have deployed wealth into local economies throughout the Arab Spring and SWFs show signs of diverting away from international trophy assets and other global investments………………………………………..Full Article: Source

Posted on 25 May 2012 by VRS |  Email |Print

The total assets under management of all Sovereign Wealth Funds globally is around $4.6trn and they are increasingly interested in alternative investments, according to discussion recorded at an Opalesque Gulf Round Table.
While most are active in fixed income and equities, which they manage internally and externally through specialized portfolio managers, there is a growing need for diversification and increased yield in the current low interest rate environment………………………………………..Full Article: Source

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