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Sovereign Wealth Funds Briefing 31.Jul 2012

Posted on 31 July 2012 by VRS |  Email |Print

Government of Singapore Investment Corp., manager of more than $100 billion of the city-state’s reserves, said it almost quadrupled its cash allocation and cut investments amid Europe’s debt crisis and slowing U.S. growth.
Cash made up 11 percent of its portfolio in the year ended March, up from 3 percent a year earlier, GIC, as the sovereign wealth fund is known, said in its annual report today. Stocks declined to 45 percent from 49 percent as it pared equities in developed markets, it said, and bonds were reduced to 17 percent from 22 percent………………………………………..Full Article: Source

Posted on 31 July 2012 by VRS |  Email |Print

Ng Kok SongThe Government of Singapore Investment Corp. said Tuesday its average rate of return for the fiscal year ended in March was unchanged from the previous year, but warned investment returns are likely to remain low given uncertainty surrounding the global economy.
In a statement, GIC, which manages Singapore’s foreign-exchange reserves, said in its annual report the annualized real rate of return from its investments for the 20 years through March was 3.9% in U.S. dollar terms, unchanged from a year earlier………………………………………..Full Article: Source

Posted on 31 July 2012 by VRS |  Email |Print

The Government of Singapore Investment Corp. has reduced its exposure in developed markets and cut its holdings in equities and bonds, as global uncertainties continue to weigh on the sovereign-wealth fund’s investment strategy.
GIC, which manages Singapore’s foreign-exchange reserves, said Tuesday in its annual report for the fiscal year ended March 31 that it now has increased cash in its portfolio and that it expects investment returns to be low till the global economy returns to “balanced and sustainable growth.”……………………………………….Full Article: Source

Posted on 31 July 2012 by VRS |  Email |Print

The Government of Singapore Investment Corporation (GIC) sees a challenging investment outlook for the medium term. In its annual report, GIC says investment returns are likely to be low until the global economy returns to balanced and sustainable growth.
GIC reiterates that its investments are for the long term. For the financial year ended March 2012, the sovereign wealth fund says its 20-year annualised real rate of return remained at 3.9 percent, unchanged from the previous year. This was partly attributed to positive returns from bonds and real estate………………………………………..Full Article: Source

Posted on 31 July 2012 by VRS |  Email |Print

Nigeria will announce in August the management team for its sovereign wealth fund (SWF) which it expects to launch by the end of this year, the finance minister told Reuters on Monday.
The government of Africa’s biggest crude oil producer expects to issue a second Eurobond of at least $600 million next year which could be open to members of its diaspora, Ngozi Okonjo-Iweala said at the sidelines of a conference in London………………………………………..Full Article: Source

Posted on 31 July 2012 by VRS |  Email |Print

Abu Dhabi asset manager Invest A.D. has launched two UCITS-compliant funds, which invest in Africa and the Arabian Gulf, to meet growing global demand for high-quality investment products to tap frontier market growth.
The Invest A.D. Emerging Africa Fund and the Invest A.D. GCC Focus Fund are registered in Luxembourg, and the asset manager is regulated by the Dubai Financial Services Authority. Invest A.D.’s portfolio managers, who have built track records for the predecessor portfolios as Cayman Islands-registered vehicles, manage the funds from the Dubai International Financial Centre, travelling regularly to countries they invest in………………………………………..Full Article: Source

Posted on 31 July 2012 by VRS |  Email |Print

Morocco’s King Mohammed urged his cash-strapped government on Monday to tap financing from Gulf Arab sovereign wealth funds to help finance projects Rabat hopes will help it meet pressing social needs.
An invitation last year for Arab kingdoms Morocco and Jordan to join the Gulf Cooperation Council (GCC) signalled that monarchies in the region were trying to strengthen their links in the face of the Arab Spring uprisings. In November, wealth funds from Qatar and Kuwait led pledges to invest almost $3 billion in Morocco’s tourism sector………………………………………..Full Article: Source

Posted on 31 July 2012 by VRS |  Email |Print

Bahrain Mumtalakat Holding has secured a strong investment grade rating of AA2 by RAM Ratings Berhad of Malaysia.
Commenting on this rating, Mahmood Al Kooheji, Chief Executive Officer of Mumtalakat said“Mumtalakat sought this rating as part of its objective to pursue the highest levels of transparency, and provide platforms to keep institutional investors informed about the Company and Bahrain………………………………………..Full Article: Source

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