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Sovereign Wealth Funds Briefing 16.Jul 2012

Posted on 16 July 2012 by VRS |  Email |Print

The pre-requisites for Peru to establish a $10 billion sovereign wealth fund are in place but the mineral rich country wants to see stabilization in global commodity markets before it can finalize its plans, Luis Miguel Castilla, Peru’s Finance Minister said.
“We have a fiscal surplus, we have low debt levels, and we’re thinking of being able to do some asset management on those surpluses that we have,” Castilla said, adding that details will be announced sometime in 2013………………………………………..Full Article: Source

Posted on 16 July 2012 by VRS |  Email |Print

Luis Miguel CastillaThe huge power of sovereign wealth funds is revealed by new analysis showing Norway has amassed £25bn of holdings in FTSE 100 companies, or 2pc of the UK’s benchmark share index.
The Norwegian state’s buying spree over the past year makes it the biggest state investor in the UK’s blue-chip index and the third largest investor overall. Its holdings now amount to half of the roughly 4pc of the index held by asset manager Legal & General, the biggest investor in the FTSE 100, and place Norway third after BlackRock, the world’s largest fund manager………………………………………..Full Article: Source

Posted on 16 July 2012 by VRS |  Email |Print

The Kazakh- Arab Falah Growth Fund will invest $50 million in energy sector of Kazakh city of Karaganda, the Kazakh Kazyna Capital Management (KCM) reported on Wednesday. KCM is a fully owned subsidiary of Kazakh Sovereign Wealth Fund Samruk-Kazyna.
“Falah Growth Fund L.P., a member of the group of private-equity funds with Kazyna Capital Management participatory interest, has reached an agreement with Kazakhstan Utility Systems to provide $50 million in equity capital to Karagandy Energocenter in Kazakhstan,” the company said………………………………………..Full Article: Source

Posted on 16 July 2012 by VRS |  Email |Print

As GCC SWFs begin to invest closer to home, the West may find itself with an increasingly empty begging bowl. Major sovereign wealth funds (SWFs) in the Middle East are investing less internationally than they have in the last three years, according to the annual asset management study by US-based investment firm Invesco.
The main reason for the shift in focus from international to regional investment has been the current unrest in the region, the study revealed. “While GCC locals are generally wealthier and more content than locals in the MENA regions affected by the Arab spring, GCC governments are still keen to demonstrate that the region’s large commodity-linked wealth is reaching the local population,” it said………………………………………..Full Article: Source

Posted on 16 July 2012 by VRS |  Email |Print

A Memorandum of Understanding by Oman Investment Fund (OIF), a sovereign wealth fund of the Sultanate of Oman, with the Qatari public transport company Mowasalat, for the establishment of a major bus manufacturing and assembly project in the Sultanate. Gulf Times quoted an unnamed official of Mowasalat as saying that the proposed venture would be the largest of its kind in the Middle East, and would meet the demand for buses across the Gulf region.
“With the signing of the MoU for such a major project, we also look at the opportunity to expand our operations through new investment opportunities and partnerships that would help us achieve our mid-term and long-term goals and objectives,” Mowasalat was quoted saying in a statement………………………………………..Full Article: Source

Posted on 16 July 2012 by VRS |  Email |Print

One of the curiosities in our current national discourse is this argument over the desirability or otherwise of having a saving and investment scheme as a nation giving the realities of our national circumstance. A nation with so much money, habitually engaging in wastefulness and is somehow ambivalent about saving for the future or against the rainy day, must be a study in self-destruct tendencies.
The sovereign wealth fund (SWF) initiative which Nigeria embarked upon early last year is designed to help the country achieve a turn-around in fiscal attitude and help address our needless tendency to profligacy by setting aside some critical fund for the future………………………………………..Full Article: Source

Posted on 16 July 2012 by VRS |  Email |Print

Singapore state investor Temasek Holdings said today it will launch a dual tranche bond offering, comprising 10.5-year and 30-year bonds, as it returns to the debt market after an absence of two years.
Temasek did not state the issue size, but benchmark issues typically exceed $500 million. It said proceeds will be used by “Temasek and its investment holding companies to fund their ordinary course of business.”……………………………………….Full Article: Source

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