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Sovereign Wealth Funds Briefing 13.Nov 2012

Posted on 13 November 2012 by VRS |  Email |Print

With around $20 billion in cash to put to work, the Libyan Investment Authority is scouting for new bond and property investments despite global economic uncertainty and as it looks to diversify away from the financial sector.
LIA chairman Mohsen Derregia in a phone interview with Dow Jones Newswires said it plans to radically change the asset allocation of its $60 billion portfolio after several years of lackluster returns and allegations of misconduct leveled against its former managers………………………………………..Full Article: Source

Posted on 13 November 2012 by VRS |  Email |Print

France said on Monday it was ready to start releasing almost $2 billion in frozen assets belonging to Libya’s sovereign wealth fund, as it looks to secure investment from the oil-producing nation.
France’s Foreign Minister Laurent Fabius made the announcement during a visit to Tripoli, the latest in a series of high-level French political and business delegations to the OPEC member. France spearheaded efforts to oust Libyan leader Muammar Gaddafi last year and, as part of wide-ranging international sanctions, froze about $8-9 billion in assets held in France………………………………………..Full Article: Source

Posted on 13 November 2012 by VRS |  Email |Print

The novel intent behind the Federal Government’s plan to establish a sinking fund may not be too different from the kind it had for advocating debt relief nearly a decade ago; establishing an Excess Crude Account and the subsequent Sovereign Wealth Fund.
What is, however, different is the growing discontent of many Nigerians with the ease with which these novel ideas lose relevance in addressing the issues for which they were advocated in the first place. The truth is that Nigerians are no longer excited about these initiatives or mechanisms regardless of their nomenclature………………………………………..Full Article: Source

Posted on 13 November 2012 by VRS |  Email |Print

The size of Qatar’s infrastructure investment is projected to exceed an estimated $200bn over the next ten years. The country has already decided to invest $140bn in the sector during the coming five years, H E Yousuf Hussein Kamal, Minister of Economy and Finance said.
With Qatar Investment Authority and its subsidiaries looking forward to forming well-picked portfolio of assets, the country is looking beyond domestic investments………………………………………..Full Article: Source

Posted on 13 November 2012 by VRS |  Email |Print

In Germany, Qatar’s sovereign fund, the Qatar Investment Authority, owns 17 percent of Volkswagen, 10 percent of Porsche and 9 percent of construction giant Hochtief.
Qatar, not exactly or even the slightest bit French-speaking, has just joined the “International Organisation of la Francphonie” as an associate member. Qatar’s goal is clear: to change and manipulate French culture. For example, the Voltaire School in Doha banned a religious book that discussed Christianity in the Middle Ages………………………………………..Full Article: Source

Posted on 13 November 2012 by VRS |  Email |Print

An increasingly unfriendly West is reportedly pushing the China Investment Corporation to look East for assets to invest in.France’s Strategic Investment Fund would consider co-investing alongside the Libyan Investment Authority in Petroplus’ plant in Normandy.
Poland’s richest man and the Qatar Investment Authority are backing a new $700 million company to invest in African and South American minerals………………………………………..Full Article: Source

Posted on 13 November 2012 by VRS |  Email |Print

Norway’s sovereign wealth fund has overtaken Abu Dhabi’s as the world’s largest. The rise of the Norway Government Pension Fund—Global (so named, though it’s not actually a pension fund) has not been unexpected; Norway’s oil industry has been booming, and the fund has been able to take advantage of its high exposure to equities markets to catch this year’s rally.
But what is surprising is that Abu Dhabi clearly isn’t keeping pace. Although it does not disclose many of its investments and data, the Abu Dhabi Investment Authority (ADIA) weathered the financial crisis of 2008-2009 remarkably well, reporting 20-year and 30-year returns higher than many of its peers………………………………………..Full Article: Source

Posted on 13 November 2012 by VRS |  Email |Print

Norway’s $650 billion sovereign wealth fund will ask companies in which it invests to disclose their impacts on tropical forests, as part of its effort to reduce deforestation, reports Reuters. The move could usher in broader reporting on the forest footprint of operations and boost eco-certification initiatives.
In a policy posted on its web site in September, Norway’s Pension Fund said it now expects portfolio “to manage risk associated with the causes and impacts of climate change resulting from greenhouse gas emissions and tropical deforestation.”……………………………………….Full Article: Source

Posted on 13 November 2012 by VRS |  Email |Print

China’s sovereign wealth fund has warned it will direct its $500 billion arsenal away from countries that are unwelcoming of Chinese investment, citing a rise in Western “protectionism”.
Lou Jiwei, the chief executive of the China Investment Corporation, said there was a rise of “protectionism in both trade and investment in some Western countries” and that the fund would direct more of its investment in the faster-growing Asian economies………………………………………..Full Article: Source

Posted on 13 November 2012 by VRS |  Email |Print

China’s sovereign wealth fund will focus more of its $482 billion firepower on Asia in twin bids to beat a rise in protectionism in the West and boost exposure to rapid regional growth, chairman and chief executive Lou Jiwei said.
The man charged with stewardship of a slice of the world’s largest store of foreign wealth lauded the British approach to overseas investment in public sector projects as one for the world to follow and said the policy response to Europe’s debt crisis was a reason to stay underweight bonds and stocks there………………………………………..Full Article: Source

Posted on 13 November 2012 by VRS |  Email |Print

The NZ$20 billion New Zealand Superannuation Fund’s program of making investments outside of its strategic asset allocation framework when markets diverge sharply from underlying fundamentals has added value since its February 2009 launch, becoming a fixture of the Auckland-based system’s investment strategy, executives say.……………………………………….Full Article: Source

Posted on 13 November 2012 by VRS |  Email |Print

Advent International closed its seventh global buyout fund with €8.5 billion ($10.8 billion), an achievement in what has been a challenging time for private equity firms to raise funds following the financial downturn in 2008, sister magazine Buyouts reported earlier today.
Advent launched the fundraise in March, though it had begun pre-marketing in late 2011, Managing Partner David Mussafer told Buyouts. The firm ended up turning away capital: Investors in the final close had to scale back their commitments by 50 percent or more, according to the firm. Nonetheless, Advent experienced different market dynamics from the last time it raised a fund………………………………………..Full Article: Source

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