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Sovereign Wealth Funds Briefing 19.Jul 2012

Posted on 19 July 2012 by VRS |  Email |Print

Sovereign wealth funds made 237 direct investments, valued at $80.9 billion, last year, the Financial Times reported, citing data collected by the Sovereign Investment Lab at Bocconi University in Milan.
A significant part of the investing was by funds in developing countries into developed markets, the FT said, citing the report. Much of the money was put into companies with strong involvement in emerging economies — LVMH Moet Hennessy Louis Vuitton SA (MC) in China and Iberdrola SA (IBE) in Latin America, for example — while little was invested in European manufacturing, suggesting a lack of confidence in the continent’s economy, the newspaper said………………………………………..Full Article: Source

Posted on 19 July 2012 by VRS |  Email |Print

Scott KalbScott Kalb is now an adviser to the $45 billion sovereign wealth fund. “We were talking about earlier how you can’t expect to get 8% over several years pension fund. You had 12% returns from the time you were oveing the fund. You went from $19 billion up to $55 billion over that time.”
This is a huge amount of money, and it’s hard to get big returns with big amounts. You’ve managed to do it. Why don’t you let us in a little bit on some of the secrets here. Where do you sigh opportunities right now?……………………………………….Full Article: Source

Posted on 19 July 2012 by VRS |  Email |Print

Nigeria’s powerful state governors said on Monday they had approved federal government’s proposal to launch a sovereign wealth fund with an initial $1 billion, ending months of political wrangling.
Finance Minister Ngozi Okonjo-Iweala said in October last year the fund was being launched but governors initially blocked the proposal, leading to eight months of negotiations………………………………………..Full Article: Source

Posted on 19 July 2012 by VRS |  Email |Print

And so in the light of the absence of a direct express prohibition as well as the laudable purpose of the SWF a court will be too hesitant to take a narrow view that can prove a disservice to the national interest.
The court would have to consider the likely inconsistencies, absurdity and inconvenience between a single account (the Federation Account) and the expediencies of subsidiary funds aimed at savings and investments (Excess Crude Account, SWF, etc.) in pursuit of welfare, good governance and national prosperity………………………………………..Full Article: Source

Posted on 19 July 2012 by VRS |  Email |Print

I2BF is looking to raise $150 million into its second nanotechnology fund, which is aimed at making later-stage investments into nanotechnology firms targeting the resources, water and agricultural sectors in Russia.
The fund will complement I2BF’s existing early-stage nanotech fund, launched last December, and for which it is targeting $100 million. It is jointly managing that fund with VTB Capital, while Rusnano and Kazyna Capital Management, the sovereign wealth fund of the Republic of Kazakhstan, have committed $25 million each………………………………………..Full Article: Source

Posted on 19 July 2012 by VRS |  Email |Print

Mapletree Investments is set to re-open the Singapore-dollar market for corporate hybrids with the first perpetual bond outside the banking sector in three months. Property investor Mapletree, which is 100% owned by Singapore sovereign fund Temasek Holdings, will issue unrated perpetual capital securities with a call option at the end of year five. Citigroup, DBS and HSBC are joint leads on the deal.
Its move comes after a recovery in trading volumes in perpetual bonds in the last two weeks, coupled with the launch of a S$1bn (US$794m) Tier 1 hybrid from local lender OCBC Bank on July 5………………………………………..Full Article: Source

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