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Sovereign Wealth Funds Briefing 01.Nov 2012

Posted on 01 November 2012 by VRS |  Email |Print

Norway’s central bank said it won’t buy any foreign currency for its $650 billion sovereign wealth fund next month amid changes in the nation’s strategy to hedge against overheating.
The decision sent the krone higher, and Norway’s currency rose as much as 0.7 percent against the euro to trade at 7.3961 as of 12:26 p.m. in Oslo. Versus the dollar, the krone soared as much as 1 percent to trade at 5.6818. The gains made the krone today’s best-performing major currency against the euro, the dollar and the yen………………………………………..Full Article: Source

Posted on 01 November 2012 by VRS |  Email |Print

An arm of China’s sovereign wealth fund has taken a 10 percent stake in the holding company controlling Britain’s largest airport Heathrow, Spanish infrastructure company Ferrovial said on Wednesday.
Ferrovial sold 5.72 percent of Heathrow holding company FGP Topco to China’s Stable Investment Corporation for 319.3 million euros ($414 million), it said in a statement………………………………………..Full Article: Source

Posted on 01 November 2012 by VRS |  Email |Print

Ferrovial sells stake in Heathrow Airport Holdings to sovereign wealth fund China Investment Corporation. Heathrow is now part-owned by the Chinese state after the country’s sovereign wealth fund acquired a 5.7% stake in the UK’s largest airport.
The deal means Heathrow will be more than 40% controlled by the Chinese, Qatari and Singaporean governments, dwarfing the 34% stake held by Spain’s Ferrovial……………………………………….Full Article: Source

Posted on 01 November 2012 by VRS |  Email |Print

Spanish construction group Ferrovial said Wednesday it had agreed to sell a stake in London’s Heathrow airport to Chinese firm CIC International.
Ferrovial said in a statement it was selling a 5.72-percent stake in FGP Topco, the holding company that controls the airport, to CIC International’s subsidiary Stable Investment Corporation, for the equivalent of 319 million euros ($415 million). It said Stable had also acquired shares from other shareholders in Topco to take its overall stake in the airport to 10 percent………………………………………..Full Article: Source

Posted on 01 November 2012 by VRS |  Email |Print

China Investment Corporation, the country’s $410-billion sovereign wealth fund, is eyeing investment opportunities in the high-end property market in Paris as it seeks higher yields than those from traditional financial assets, according to French property experts.
“We are in talks with CIC, which has expressed an interest in investing in the prime property market in Paris,” said Alexandra Li, head of Asia Business Development at real estate company Jones Lang LaSalle in France………………………………………..Full Article: Source

Posted on 01 November 2012 by VRS |  Email |Print

Another helping hand has been extended to small and medium enterprises (SME) that are on the cusp of greatness. Temasek Holdings has tapped homegrown hedge fund Dymon Asia Capital to manage an initial $203 million of public and private funds, which are aimed at growing local SMEs regionally and internationally.
The newly created Dymon Asia Private Equity fund is hoping to invest in Singapore and South-east Asia-headquartered companies with revenues of between $10 million and $500 million, revealed Dymon Asia Capital founding partner Keith Tan, who will lead the fund with private-equity veteran Gerald Chiu………………………………………..Full Article: Source

Posted on 01 November 2012 by VRS |  Email |Print

The $80 billion Future Fund has signalled it is looking to splash out on more infrastructure assets, in an attempt to shield its portfolio from further bouts of market volatility.
With global growth expected to be sluggish as much of the world remains crippled by debt, the fund said on Wednesday it was eyeing the relative stability of infrastructure………………………………………..Full Article: Source

Posted on 01 November 2012 by VRS |  Email |Print

The Future Fund’s annual shows that it voted against 21 per cent of remuneration reports last year and rejected nearly a third of grants for executives that shareholders were asked to vote on.
The fund did not disclose the names of the companies whose salary packages it had voted against. But given that few large investors disclose how they vote on company resolutions, the annual report offers a window into attitudes on executive remuneration………………………………………..Full Article: Source

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