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Sovereign Wealth Funds Briefing 25.Oct 2012

Posted on 25 October 2012 by VRS |  Email |Print

Two global sovereign wealth funds have invested A$872 million ($904 million) in Australian shopping centres through wealth manager AMP Ltd as part of an asset swap deal with mall owner Westfield Group.
AMP said it has bought Westfield and Westfield Retail Trust’s interests in three shopping malls for A$1.025 billion ($1.06 billion). It sold interests in four centres to Westfield and Westfield Retail Trust for A$710 million. The transaction was backed by Canada Pension Plan Investment Board (CPPIB) and Harina Co Ltd, a wholly-owned subsidiary of the Abu Dhabi Investment Authority (ADIA)………………………………………..Full Article: Source

Posted on 25 October 2012 by VRS |  Email |Print

Two of the world’s largest sovereign wealth and pension funds Canada Pension Plan Investment Board, or CPPIB, and Abu Dhabi Investment Authority, or ADIA, are betting that Australians will keep shopping in-store, despite the rise of online alternatives.
CPPIB along with ADIA’s wholly-owned subsidiary Harina Company Ltd. have each paid 436 million Australian dollar (US$451 million) for a 37% stake in AMP Capital Retail Trust. The unlisted property trust owns half of Sydney’s Macquarie Centre and 80% of Gold Coast’s Pacific Fair Shopping Centre………………………………………..Full Article: Source

Posted on 25 October 2012 by VRS |  Email |Print

Government of Singapore Investment Corp. is investing in a 30-year-old San Francisco office tower that’s valued at about $900 million, according to one person with direct knowledge of the transaction.
GIC, as the Singapore sovereign wealth fund is known, is part of a group that’s taking control of 101 California Street in San Francisco’s financial district, said the person, who asked not to be identified because the information isn’t public. The fund declined to comment………………………………………..Full Article: Source

Posted on 25 October 2012 by VRS |  Email |Print

The Future Fund will follow the lead of superannuation funds including First State Super and reviewing its multi-million investments in tobacco companies. Mark Burgess, chief executive of the $80 billion fund announced the governance committee had agreed to consider removing some or all of the fund’s $219 million in tobacco investments from its portfolio.
A letter from Attorney-General Nicola Roxon urging the Future Fund not to invest in cigarette manufacturers is said to have played little or no role in the decision………………………………………..Full Article: Source

Posted on 25 October 2012 by VRS |  Email |Print

The sovereign wealth fund that will control the government’s proceeds from Israel’s natural gas reserves will not be used to help defray the cost of protecting the gas installations, a government panel decided Tuesday.
In doing so, the ministerial legislative committee rejected a proposal by the Defense Ministry to include national security among the national projects that can be funded by the projected sovereign wealth fund. The navy had estimated the cost of protecting Israel’s offshore gas installations at NIS 3 billion annually………………………………………..Full Article: Source

Posted on 25 October 2012 by VRS |  Email |Print

Qatar considers acquiring major stakes in investment banks in Europe, sources told Al Arabiya, noting that the negotiations are currently underway with seven banks suffering from accumulated financial crises caused by the economic recession in Europe.
Basheer al-Kahlout, an economist, told Al Arabiya that widening the investments of Qatar’s investment authority in foreign markets is part of Qatar’s strategy to diversify the sources of income, away from gas and fuel sectors, which contribute 55% of Gross Domestic Product (GDP). He said that Qatar Holding invested its budget surplus, estimated at $16.5 billion annually (60 billion QAR) in the past two years in foreign lucrative projects, which sets a record for the investments in Europe………………………………………..Full Article: Source

Posted on 25 October 2012 by VRS |  Email |Print

Azerbaijan’s $33 billion oil fund has bought 3 billion Russian roubles ($100 million) and deposited it in Russia’s Gazprombank to help diversify its assets, the fund said.
“The fund plans to increase investment in financial instruments in Russian roubles,” it said in a press release.The fund said earlier this year it would spend $400-$500 million to buy Russian roubles in 2012………………………………………..Full Article: Source

Posted on 25 October 2012 by VRS |  Email |Print

According to the “Investment Policy of the State Oil Fund of the Republic of Azerbaijan” up to 5 percent of the Fund’s assets can be invested in assets denominated in Turkish Lira and Russian Ruble. In the framework of the Investment policy first investments were made to the assets denominated in Turkish Lira during the current year and appropriate preparations to start investments in Russian Ruble have been completed.
On October 19, 2012 SOFAZ has invested RUB 3 billion (USD 100 million approximately) into the short term deposit at one of the biggest banks in Russia, Gazprombank………………………………………..Full Article: Source

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