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Sovereign Wealth Funds Briefing 21.Dec 2012

Posted on 21 December 2012 by VRS |  Email |Print

Norway’s sovereign wealth fund has agreed to buy a 50 percent stake in a portfolio of European warehouses for 1.2 billion euros ($1.6 billion) from U.S.-based Prologis as it ramps up its still-small property investments.
The deal announced on Thursday for a stake in 195 properties spread across 11 European countries represents the first steps of what could be large global investments of real estate by the $685 billion Norwegian wealth fund, which has been built up from surplus oil and gas revenue………………………………………..Full Article: Source

Posted on 21 December 2012 by VRS |  Email |Print

Azerbaijan’s State Oil Fund, known as Sofaz, bought an office and retail property in Paris for 135 euros ($179 million), its second real estate investment in a week as it seeks to diversify reserves. The property, 8 Place Vendome, was purchased from AXA Real Estate (AXAEDAC) and has a total area of 5,400 square meters (58,125 square feet), Sofaz said today in an e-mailed statement.
“With these recent real estate transactions, Sofaz has established its presence in two main commercial centers of Europe –- London and Paris,” Israfil Mammadov, the fund’s chief investment officer, said……………………………………….Full Article: Source

Posted on 21 December 2012 by VRS |  Email |Print

The much awaited Sovereign Wealth Fund (SWF) will become fully operational by March 2013, as 300 persons jostle for the post of Chief Investment Officer (CIO). To underscore the commitment of the federal government to the fund, the strategy document, which will guide its operations, is ready while its investment policy guidelines and the processes for the three fund mandates are almost finalised.
Speaking on the progress made so far, the Coordinating Minister for the Economy and Minister of Finance, Dr. Ngozi Okonjo-Iweala, stated the strategy document was ratified by the Board of the Nigeria Sovereign Investment Authority (NSIA), led by Alhaji Mahey Rasheed………………………………………..Full Article: Source

Posted on 21 December 2012 by VRS |  Email |Print

Nigeria’s $1 billion sovereign wealth fund will start making investments in March after receiving board approval, it said. “We’ll start all the securities investing by March” for the Fiscal Stabilization Fund and the Future Generations Fund, Uche Orji, chief executive officer of the Nigeria Sovereign Investment Authority, said today in an interview in Abuja.
For the Infrastructure Fund, “we’ll start investing in the second half of 2013.” Nigeria set up a wealth fund in May last year to invest savings made from the difference between budgeted oil prices and actual market prices………………………………………..Full Article: Source

Posted on 21 December 2012 by VRS |  Email |Print

Sovereign Wealth Fund (SWF) supervisory agency Nigeria Sovereign Investment Authority (NSIA) has received 300 applications for the post of Chief Investment Officer for the authority.
In a statement, the Special Adviser to the Coordinating Minister for the Economy and Minister of Finance, Paul Nwabuikwu, quoted the Managing Director of the NSIA, Uche Orji, as confirming this. According to Orji, the NSIA hopes to have the interviews early next year and have a CIO in place by early March………………………………………..Full Article: Source

Posted on 21 December 2012 by VRS |  Email |Print

The Angolan Sovereign Fund (FSDEA), a mechanism that was recently created by the government, announced Thursday here the main goals for the 2013/2014 biennium.
According to a note published by the institution, with the search for investment in Angola and at international level, and having the mission to promote the country’s socioeconomic development and generate wealth for the future generations of Angola, in its official launch the FSDEA assumed the commitment to functioning in a totally transparent and and responsible manner………………………………………..Full Article: Source

Posted on 21 December 2012 by VRS |  Email |Print

Temasek Holdings has further raised its stake in commodities group Olam International to 18 per cent from 17 per cent. The Singapore investment firm bought 23.9 million Olam shares in the open market on Tuesday and Wednesday through its investment vehicle Aranda Investments, said Olam in a filing with the Singapore Exchange.
In an emailed comment, Temasek spokesman Stephen Forshaw said: “The company (Olam) represents a reasonably attractive investment over the long term and we are pleased to have the opportunity to add to our stake.”……………………………………….Full Article: Source

Posted on 21 December 2012 by VRS |  Email |Print

Singapore’s state investment firm Temasek Holdings continues to back, a recent target of short-seller Carson Block and his research firm Muddy Waters. In two consecutive days of buying in the open market, Temasek has raised its stake in the commodities trader to 18% from 16%.
That comes after the state investor said earlier this month it would buy into a US$1.2 billion rights issue by the Singapore trader. Its support for Olam extended to a pledge to buy unsold bonds and warrants that will be issued as part of the rights issue………………………………………..Full Article: Source

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