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Sovereign Wealth Funds Briefing 25.Jan 2013

Posted on 25 January 2013 by VRS |  Email |Print

Low yields in traditional asset classes are prompting powerful sovereign wealth funds to reassess their asset allocation, according to Patrick Thomson, global head of Sovereigns at JP Morgan Asset Management.
Speaking at the Davos economic forum, Thomson said the very low level of yields in asset classes historically used by sovereign and central bank investors - 10-year US Treasury yields are currently trading below 2% - is leading to a readjustment of portfolios. Sovereign wealth fund assets are now thought to stand at around $5trn………………………………………..Full Article: Source

Posted on 25 January 2013 by VRS |  Email |Print

A change in risk appetite by pension funds and insurers addressing their funding status or readying for new regulation is set to create new opportunities for sovereign wealth investors, JP Morgan Asset Management has predicted.
A note from the asset manager today said changing attitudes, which often translated into a risk reduction, meant sovereign wealth funds (SWFs) would have more prospects to expand into one of four asset classes: emerging markets, Europe, private markets and alternatives, and co-investments………………………………………..Full Article: Source

Posted on 25 January 2013 by VRS |  Email |Print

The National Pensions Reserve Fund may soon commit to further funds targeting Ireland’s small and medium-sized enterprises (SME), the country’s minister for finance has said.
Indicating that an earlier €500m commitment to three SME funds would be the first of many, Michael Noonan told the Dáil the NPRF was examining other funds that would “complement” those managed by BlueBay Asset Management, Better Capital and Carlyle Cardinal Ireland………………………………………..Full Article: Source

Posted on 25 January 2013 by VRS |  Email |Print

The State Oil Fund of Azerbaijan (SOFAZ) and International Finance Corporation signed an agreement that expands their cooperation to support private sector development in emerging markets.
The IFC informs that in compliance with the agreement SOFAZ committed $50 million to the IFC Catalyst Fund which is designed to stimulate the development of funds and projects focused on renewable energy and climate-friendly solutions. This follows an investment by SOFAZ in 2010 of $100 million in the IFC African, Latin American, and Caribbean Fund. Azerbaijan was the first investor from an emerging market to invest in funds managed by the IFC Asset Management Company………………………………………..Full Article: Source

Posted on 25 January 2013 by VRS |  Email |Print

Mahmood H. Al-Kooheji, CEO of Bahrain’s Sovereign Wealth Fund Mumtalakat, talks about the need for SWFs to be open in their investment process as well what investments interest his own fund.……………………………………….Full Article: Source

Posted on 25 January 2013 by VRS |  Email |Print

Olam International Ltd. (OLAM), the commodity supplier targeted by short-seller Carson Block, raised $712.5 million from a bond sale that it said was oversubscribed. Kewalram Singapore Ltd. and Temasek Holdings Pte, the two largest shareholders, took up all of their entitlement of bonds and warrants, the trading company said yesterday in a statement.
Olam, the world’s second-largest rice trader, said last month that it planned to sell $750 million in bonds and as much as $500 million in warrants to address any “lingering doubts” about its finances………………………………………..Full Article: Source

Posted on 25 January 2013 by VRS |  Email |Print

Alaska Permanent Fund Corp. returned 7.3% for the six months ended Dec. 31, including a 2.7% return for the quarter ended Dec. 31. The Alaska Permanent Fund returned 2.7% for the second quarter of fiscal year 2013 according to unaudited figures released today by the Corporation, ending on December 31 with a value of $43.7 billion. The Fund’s year-to-date return is 7.3%.
Non-U.S. stocks were the largest contributor to the Fund’s performance for the quarter and for the fiscal year-to-date. The Fund’s non-U.S. portfolio returned 5.8% for the quarter and 13.7% for the first six months of the fiscal year, while the global portfolio returned 3.7% and 11.0% for the respective periods. By comparison, the U.S. portfolio returned 0.7% for the quarter and 7.0% for the fiscal year-to-date………………………………………..Full Article: Source

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