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Sovereign Wealth Funds Briefing 10.Oct 2012

Posted on 10 October 2012 by VRS |  Email |Print

President Goodluck Jonathan implored the board of the Nigeria Sovereign Investment Authority (NSIA) to judiciously invest the Nigeria Sovereign Wealth Fund in a manner that would produce adequate infrastructure for the benefit Nigerians, especially posterity.
The country had last year decided to key into the over 3 trillion dollar worth of investments amongst other nations that established Sovereign Wealth funds worldwide with a strong management strategy that ensures the sustainability of the funds………………………………………..Full Article: Source

Posted on 10 October 2012 by VRS |  Email |Print

President Goodluck Jonathan on Tuesday appealed to states governors and local government chairmen to cooperate with the Federal Government in the implementation of policies aimed at preserving the nation’s commonwealth.
Jonathan made the appeal on the occasion of the inauguration of the Board of the Nigeria Sovereign Investment Authority (NSIA) at the State House, Abuja.The authority is statutorily charged with the responsibilities of managing the Sovereign Wealth Fund and administering the accruing resources for the benefit of present and future generations of Nigerians………………………………………..Full Article: Source

Posted on 10 October 2012 by VRS |  Email |Print

The Bangko Sentral ng Pilipinas (BSP) is not allowed to put up a sovereign-wealth fund even with its ballooning gross international reserves, since its charter does not allow it to. This is what BSP Deputy Governor Diwa Guinigundo said in reaction to calls from analysts and other investors that the BSP create such a fund to make equity investments and allow it to diversify its sources of income, thus safeguarding its “nest egg.”
A sovereign-wealth fund is what countries awash with dollars put up to serve as a form of nest egg. China has four such funds, while Singapore has two, including the Temasek Holdings that has investments in some listed Philippine issues………………………………………..Full Article: Source

Posted on 10 October 2012 by VRS |  Email |Print

Central Huijin Investment Ltd., an investment arm of China’s sovereign-wealth fund, increased its stakes during the third quarter in Bank of China Ltd. and Industrial & Commercial Bank of China Ltd., statements from the two major banks showed.
Central Huijin held 188.80 billion shares, or 67.64%, of Bank of China at the end of September, compared with 123.75 billion, or 67.63%, at the end of June, China’s third-largest bank by assets said in a statement Wednesday………………………………………..Full Article: Source

Posted on 10 October 2012 by VRS |  Email |Print

On the rare occasions when the vice chairman and president of China Investment Corp. speaks on the record, investors listen. But if the audience convened by the Economic Club of New York last Friday in midtown Manhattan expected Gao Xiqing to divulge any of the sovereign wealth fund’s investment secrets or telegraph CIC’s next move, they were sorely disappointed.
Gao prudently limited his comments to his own views and mostly focused on his positive long-term outlook for China’s economy, notwithstanding the continued darkening news, including, just yesterday, the World Bank’s downgrade of its growth forecast for the world’s second largest economy from 8.2% to 7.7% for this year. That’s well below the 9.3% growth that China recorded in 2011………………………………………..Full Article: Source

Posted on 10 October 2012 by VRS |  Email |Print

China Investment Corp. (CIC) is mulling how to make the most of its recent acquisition of a minority stake in a leading European satellite operator. But whatever the move is, experts say, it’s unlikely to result in a technology transfer that China craves.
The company is now the third-largest shareholder of Eutelsat Communications SA. In June, it bought 7 percent of the world’s third-largest satellite operator for €385.2 million from Spanish infrastructure company Abertis, which still holds 8.35 percent of Eutelsat and is the second-largest shareholder………………………………………..Full Article: Source

Posted on 10 October 2012 by VRS |  Email |Print

Norway’s sovereign wealth fund has bought half of Sheffield’s Meadowhall, underlining the shopping centre’s strong performance amid a bleak retail climate. The £390bn Norwegian Government Pension Fund Global, which manages Norway’s oil revenues, bought out a joint venture between London & Stamford Property and a Middle Eastern partner.
It paid £348m for the stake in a deal which, including debt, values Meadowhall at £1.525bn. The centre was valued at £1.497bn in March………………………………………..Full Article: Source

Posted on 10 October 2012 by VRS |  Email |Print

Kazakh Oil and Gas Minister Sauat Mynbayev has been appointed as Chairman of the Board of Kazakh National Oil and Gas Company KazMunaiGas, Kazakh Sovereign Wealth Fund Samruk-Kazyna’s protocol says.
Mynbayev will replace Samruk-Kazyna’s Board Chairman Umirzak Shukeyev on this post. Moreover, Samruk-Kazyna’s Board of Directors appointed Nurlan Rakhmetov to represent interests of Samruk-Kazyna as the only shareholder of KazMunaiGas………………………………………..Full Article: Source

Posted on 10 October 2012 by VRS |  Email |Print

An unnamed Middle Eastern sovereign wealth fund is in advanced discussions to acquire the Zuiderpoort office complex in Gent, Belgium, PropertyEU has learned. According to informed sources close to the process, the transaction is expected to be completed by the end of the month. If successful, it would signal a new direction in sovereign wealth funds’ capacity to penetrate secondary investment locations.
So far, Middle Eastern SWFs have largely been focused on Europe’s strongest cities of London, Paris and Frankfurt………………………………………..Full Article: Source

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