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Sovereign Wealth Funds Briefing 06.Jul 2012

Posted on 06 July 2012 by VRS |  Email |Print

Karsten KallevigNorway’s $600 billion sovereign wealth fund agreed to buy stakes in five properties in Paris from Italy’s Generali Group as it expands its real estate portfolio in the French capital.
The wealth fund, known as the Government Pension Fund Global, will buy 50 percent stakes in five properties for 275 million euros ($341 million), it said in a statement today. The Oslo-based fund will also form a joint venture with Generali Real Estate, a unit of the Trieste-based insurance company, for property investments in central Paris, it said……………………………………….Full Article: Source

Posted on 06 July 2012 by VRS |  Email |Print

Temasek Holdings, Singapore’s sovereign-wealth fund, is increasing its exposure to Brazil and the rest of Latin America because of the region’s strong long-term growth prospects, the company said. Temasek invested a total of 58 million reais ($28.6 million) in two Brazilian companies in the fiscal year ended March 31.
“Temasek continues to increase its exposure to Brazil and other growing economies in Latin America,” said Matheus Villares, director of investments in Brazil. “We continue with a positive perspective for Brazil’s growth potential and the potential of the region in the long term.”……………………………………….Full Article: Source

Posted on 06 July 2012 by VRS |  Email |Print

Singapore state investor Temasek Holdings , whose portfolio swelled to a record in the last fiscal year, is looking to acquire assets in Europe and plough more money into energy and commodities after doubling its exposure to the sector.
Sovereign wealth funds such as China Investment Corp are struggling to deliver decent shareholder returns at a time when the European debt crisis and an anemic U.S. economy are depressing capital markets from Brazil to Hong Kong. But beaten-down valuations have presented opportunities to investors such as Mexican tycoon Carlos Slim, who recently added European companies to his telecommunications empire………………………………………..Full Article: Source

Posted on 06 July 2012 by VRS |  Email |Print

Temasek Holdings realised a net profit of $10.7 billion on its S$198 billion ($157 billion) portfolio in the 2012 financial year to March 31, down 16% from its $12.7 billion profit from 2011, as a slowing global economy took its toll on the value of its portfolio assets.
The Singapore sovereign wealth fund’s net portfolio value grew from S$193 billion in the previous year. It invested S$139 billion during 2012 (while divesting S$87 billion), with a slight shift in holdings by geography that favoured the West over Asia………………………………………..Full Article: Source

Posted on 06 July 2012 by VRS |  Email |Print

Singapore investment firm Temasek Holdings has reported a fall in net profit for the fiscal year ended March 31. Temasek’s group net profit declined 16 per cent to S$10.7 billion. This, after a doubling of net profit in the previous year.
Despite lower group profit and market volatility, the investment firm’s portfolio value grew by S$5 billion to a record S$198 billion. Amid the slower global economy, Singapore Airlines and Neptune Orient Lines are some of Temasek’s portfolio companies that have seen lower earnings, which contributed to a lower group net profit. ……………………………………….Full Article: Source

Posted on 06 July 2012 by VRS |  Email |Print

Singapore’s state-linked investment firm Temasek Holdings said Thursday its net profit in the last fiscal year fell 15.4 percent to SG$11 billion (US$8.7 billion) amid a slower global economy.
However, Temasek said the net value of its worldwide portfolio went up 2.6 percent to SG$198 billion in the year ended March 31 from the previous financial year. Temasek said it invested a total of SG$22 billion during the year and divested SG$15 billion………………………………………..Full Article: Source

Posted on 06 July 2012 by VRS |  Email |Print

Singapore state investment company Temasek Holdings said growth in the value of its investments slowed in the last financial year as a weakening global economy undermined the value of Asian companies.
The value of the fund’s investments rose 2.6 percent to 198 billion Singapore dollars ($157 billion) in the fiscal year ended March 31, Temasek said in its annual report Thursday. The portfolio rose 3.8 percent in the previous year………………………………………..Full Article: Source

Posted on 06 July 2012 by VRS |  Email |Print

Singapore’s sovereign wealth fund Temasek saw its global portfolio value inch up 2.6 per cent to close the year ended March 2012 at a record $153 billion, although it is a deceleration in growth compared to the previous fiscal, at a time when its exposure to Australasia and the economically troubled markets of North America and Europe gained at the cost of Asia.
Temasek, one of the two sovereign funds of the Singapore government, saw its exposure to Asia (outside of Singapore which covers China, India, Japan and the rest of South-east Asia) shrink to 42 per cent compared to 45 per cent in the previous fiscal ended March 2011………………………………………..Full Article: Source

Posted on 06 July 2012 by VRS |  Email |Print

Bahrain’s ambitious economic reform program is still on track, the head of the country’s sovereign wealth fund Mumtalakat said this week, despite a year of turmoil in the Gulf Arab state as the monarchy tackles a pro-democracy protest movement.
Mahmood Al-Kooheji said the fund would focus its investment activities on Bahrain and Gulf Cooperation Council countries and that while it would not engage in more debt issues, its subsidiaries could seek to refinance loans………………………………………..Full Article: Source

Posted on 06 July 2012 by VRS |  Email |Print

Qatar, the second-largest shareholder in Xstrata, said on Thursday it was “firm” in its demand of improved terms from commodities trader Glencore, which hopes to take over miner Xstrata in a $26 billion deal.
Glencore, Xstrata’s top shareholder with an almost 34 percent stake, is offering 2.8 new shares for every Xstrata share held. Qatar - whose sovereign wealth fund has built an 11 percent stake in Xstrata since the planned takeover was announced in February - is demanding an improved ratio of 3.25………………………………………..Full Article: Source

Posted on 06 July 2012 by VRS |  Email |Print

Qatar’s sovereign wealth fund plans to take the Harrods brand global to cities such as Paris and New York, and will start by building a luxury hotel named after the upmarket London department store in Malaysia’s capital Kuala Lumpur.
Qatar Holding has signed an agreement with Malaysian partner Jerantas Sdn Bhd to build a hotel in Kuala Lumpur’s Bukit Bintang shopping district………………………………………..Full Article: Source

Posted on 06 July 2012 by VRS |  Email |Print

The planned implementation of the Sovereign Wealth Fund (SWF) alongside the Excess Crude Account (ECA) by the Federal Executive Council, (FEC), portrays state governors in Nigeria as having a penchant for spending, at the expense of infrastructural development, analysts have said.
Some of the analysts, while commending the approval of the SWF by FEC, which includes the 36 state governors, fault the increment of the ECA to $10billion from the present $5.3 billion. They argue that expending such an amount in the interim as a buffer to the economy is at variance with the fiscal consolidation stance of the government………………………………………..Full Article: Source

Posted on 06 July 2012 by VRS |  Email |Print

The sovereign wealth fund, in a very simple term, is designed by the federal government to save for the rainy days; that whatever comes in as excess, rather than being left alone in just any bank, it could be put in an investment that would grow it and keep it as a reserve for the rainy days.
But the question is, at the point of designing it, what should be saved for the rainy days. I think there wasn’t a proper platform that everybody participated and agreed to how it should be done - that is where the major problem came from………………………………………..Full Article: Source

Posted on 06 July 2012 by VRS |  Email |Print

Halyk Bank , Kazakhstan’s second-largest lender by assets, said it intended to buy back its remaining state-held shares on Thursday, in a sign of recovering health after the financial crisis.
Halyk, part-owned by the family of Kazakh President Nursultan Nazarbayev, was among four Kazakh banks bailed out by the state via the country’s sovereign wealth fund Samruk-Kazyna in 2009. Samruk-Kazyna held 11.55 percent of shares, and minor Halyk shareholders another 9.59 percent………………………………………..Full Article: Source

Posted on 06 July 2012 by VRS |  Email |Print

Timor Leste (East Timor) gained its independence from Indonesia in a United Nations sponsored referendum in 1999 and became a sovereign state and member of the United Nations in May 2002.
With a population of 1.1 million, it is the second smallest country in Southeast Asia, after Brunei, and was the least developed at independence with its sole export being organic coffee. Economic growth has since been rapid, on the back of oil revenues and reconstruction from war………………………………………..Full Article: Source

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