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Sovereign Wealth Funds Briefing 20.Dec 2012

Posted on 20 December 2012 by VRS |  Email |Print

Angola plans announce the investment policy for its new $5 billion sovereign wealth fund in the first quarter of next year, the fund’s management board said in a statement on Wednesday.
The fund was launched in October to invest in domestic and overseas assets by funnelling Angola’s vast oil wealth into infrastructure, hotels and other high-growth projects………………………………………..Full Article: Source

Posted on 20 December 2012 by VRS |  Email |Print

The State Oil Fund of Azerbaijan, a sovereign wealth fund, has bought an office complex at 78 St James Street in London’s West End for £177m, the first asset in a £1bn in spending targeted at luxury and trophy properties across Europe. Annual rental income is £9.65m, putting net initial yield at 4.5% p.a., SOFAZ said.
Seller was RREEF Real Estate, part of the alternatives investment division of Deutsche Bank wealth management; the asset came from the fund grundbesitz europa. SOFAZ Executive Director Shahmar Movsumov commented: “Sovereign Wealth Funds across the globe are looking for ways of diversifying their risks by expanding their investments beyond traditional asset classes ……………………………………….Full Article: Source

Posted on 20 December 2012 by VRS |  Email |Print

No sooner said than done. That is how you can describe the first deal of the State Oil Fund of Azerbaijan (SOFAZ) on buying property abroad. According to a statement released by the fund on Monday, SOFAZ purchased real estate in London in the amount of 177.35 million pounds. This is an office complex in London’s West End at St James, 78.
Let me say at once that this property meets the conditions under which the SOFAZ may invest in foreign assets in frames of the investment policy. As it has often been noted by the fund, the liquidity of the acquired property must be high, the price and yield - stable. The basis was set by a long-term lease, the location in downtown, excellent conditions, provision with modern equipment and other conditions………………………………………..Full Article: Source

Posted on 20 December 2012 by VRS |  Email |Print

Kazakh Sovereign Wealth Fund Samruk-Kazyna is considering the issue of new passenger and cargo terminals construction in Atyrau International Airport, Novosti-Kazakhstan quoted the managing director of the Fund and Chairman of the board of directors of Kazakhstan Temir Zholy (Kazakh railways) and Air Astana Nurzhan Baidauletov as saying.
“In the nearest future, we plan to make decision on construction of cargo and passenger terminals in Atyrau. The fund has already ordered the airport to develop a feasibility study of the project. The decision on construction funding will be made later, following the feasibility study development,” Baidauletov said at the press conference on Thursday………………………………………..Full Article: Source

Posted on 20 December 2012 by VRS |  Email |Print

Norway’s $680 billion sovereign wealth fund is looking at Africa with interest as it seeks to take advantage of the region’s rapid growth and diversify its portfolio, a senior official said on Wednesday.
The world’s largest sovereign fund has investments in Egypt, South Africa and Morocco but sees opportunities in other African countries, though their capital markets are still developing, Deputy Chief Executive Trond Grande told Reuters………………………………………..Full Article: Source

Posted on 20 December 2012 by VRS |  Email |Print

A former governor of the Central Bank of Nigeria (CBN), Chief Joseph Sanusi, has told the federal government not to succumb to pressure to share the excess crude oil revenue among the three tiers of government.
Sanusi, who gave the advice in an interview with journalists yesterday in Lagos, said that spending all the money now could spell doom for the economy in future, but that they should be saved in the Sovereign Wealth Fund (SWF), for use on the rainy day. The excess crude revenue, which currently stands at $9.6 billion, was realised from crude oil sales above the budgetary crude oil price benchmark………………………………………..Full Article: Source

Posted on 20 December 2012 by VRS |  Email |Print

China Export & Credit Insurance Corporation announced on Tuesday that it had received a 20 billion yuan ($3.21 billion) capital injection from China Investment Corporation, the country’s sovereign wealth fund, through Central Huijin Investment Ltd.
Wang Yi, chairman of CECIC, said the injection will intensify the company’s capital strength and improve its underwriting and solvency capacity, as well as increase its vigilance toward risk, so as to better support the Chinese companies in their overseas expansion………………………………………..Full Article: Source

Posted on 20 December 2012 by VRS |  Email |Print

Temasek Holdings (Private) Ltd has increased its deemed interest in Olam International Ltd from 17 per cent to 18 per cent, Olam said on Thursday in an update. Temasek’s unit Aranda Investments Pte Ltd had from Dec 18 to 19 entered into a series of transactions to purchase an aggregate of about 23.9 million voting shares of Olam.
Aranda purchased another 1,000 shares in Olam for about S$1,540. Through the purchase, Temasek’s deemed interest in Olam increased from 17.99 per cent to 18 per cent………………………………………..Full Article: Source

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