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Sovereign Wealth Funds Briefing 30.Jan 2013

Posted on 30 January 2013 by VRS |  Email |Print

As African countries’ wealth grows, governments are exploring new way to manage their reserves with more fiscal responsibility, accumulate wealth and bring more transparency and accountability in how they manage their new-found riches.
Angola, Ghana and Nigeria - all major or promising hydrocarbons’ players - established sovereign wealth funds in 2012, and Tanzania expressed its intention to establish a fund to manage its oil and gas reserves. African states are relatively minor players in the global SWF industry. Major oil producers Norway and Abu Dhabi lead the way with two of the largest and successful sovereign wealth funds………………………………………..Full Article: Source

Posted on 30 January 2013 by VRS |  Email |Print

Qatar’s sovereign wealth fund plans to spend half of the $10bn it expects to invest in Malaysia on a petrochemicals complex aimed at transforming the southeast Asian nation into a global hub for the oil and gas trade. The Pengerang Integrated Petroleum Complex in the southern state of Johor is expected to help Malaysia compete with neighbouring Singapore to become the region’s top petrochemical hub.
“We are in discussions about this. We may invest up to $5bn in the next three to four years into petrochemical projects here (in Pengerang),” Qatar Holding LLC Vice-Chairman Hussain Ali Al Abdulla told reporters in Kuala Lumpur………………………………………..Full Article: Source

Posted on 30 January 2013 by VRS |  Email |Print

Qatar’s sovereign fund anticipates that its investments in Malaysia will surpass the US$10bil (RM30.8bil) mark, which when fullymaterialised, should make it among the largest foreign investors here.
A big portion of that amount US$5bil (RM15.4bil) will be pumped into petrochemical projects within the country over the next three to four years, particularly in the Pengerang project in Johor. The investments will come from Qatar Holding LLC, an investment arm of the Qatar Investment Authority (QIA), said Qatar Holding vice-chairman Dr Hussain Ali Al- Abdulla………………………………………..Full Article: Source

Posted on 30 January 2013 by VRS |  Email |Print

Qatar and Greece could each invest up to 1 billion euros ($1.35 billion) in a joint fund to support small and mid-sized Greek companies, extending the Gulf state’s support of ailing European economies.
n November, the investment arm of Qatar’s sovereign wealth fund, Qatar Holding, and an investment fund backed by the Italian government agreed to invest up to EUR2 billion in Italian companies over the next four years………………………………………..Full Article: Source

Posted on 30 January 2013 by VRS |  Email |Print

Qatar has put its largest single investment in London, the GBP£3bn (US$4.7bn) Chelsea Barracks housing development, on hold, citing concerns about the UK economy.
A spokesperson for Qatari Diar, the property investment arm of Qatar’s sovereign wealth fund, confirmed the project, which Prince Charles lobbied to be built in his preferred architectural style, was under review. “The strategy is under review,” a Qatari Diar spokeswoman said………………………………………..Full Article: Source

Posted on 30 January 2013 by VRS |  Email |Print

Determined to definitely resolve its dispute with the Federal Government over the Excess Crude Account (ECA), the Nigeria Governors’ Forum (NGF) is, again, set to go to the Supreme Court. However, the Federal Government Tuesday approved the distribution of $1 billion from the ECA among the 36 states and the Federal Capital Territory (FCT) to enable them to execute projects.
The decision received the blessing of President Goodluck Jonathan, according to the Chairman of the Nigeria Governors’ Forum (NGF) and Rivers State Governor, Rotimi Amaechi, at a joint media briefing of State House correspondents at the end of the 45th National Economic Council (NEC) meeting, with his Abia State counterpart, Theodore Orji; the Minister of National Planning, Dr. Shamsudeen Usman and Minister of State for Finance, Yerima Ngama………………………………………..Full Article: Source

Posted on 30 January 2013 by VRS |  Email |Print

In what may appear to be an attempt to placate governors, who had been at daggers-drawn point with the Presidency, President Goodluck Jonathan Tuesday approved the distribution of $1billion from the Excess Crude Account (ECA) among the 36 States and the Federal Capital Territory (FCT).
This was one of the outcome of the first 2013 edition of the National Economic Council (NEC) presided over by Vice President Namadi Sambo Tuesday………………………………………..Full Article: Source

Posted on 30 January 2013 by VRS |  Email |Print

Francis Rozario, who spearheaded Singapore state investor Temasek Holdings Pte Ltd’s investment in Asian banks, has set up his own advisory firm to serve financial institutions. Rozario told Reuters he had co-founded Singapore-based Asia Capital and Advisors Pte Ltd with Leslie Menkes, who headed Morgan Stanley’s onshore private banking business in Asia.
A former Citigroup executive, Rozario left Temasek’s Fullerton Financial Holdings unit in the middle of 2011 after working at the state investor for about eight years………………………………………..Full Article: Source

Posted on 30 January 2013 by VRS |  Email |Print

With an initial capital infusion from the real estate arm of the Government of Singapore Investment Corp., Laxfield Capital has launched a new commercial lending program. The locally based commercial mortgage origination, investment management and advisory firm will invest up to $1 billion in commercial mortgages in the United Kingdom over the next 24 months.
According to Adam Slater, managing director of Laxfield Capital, the program will fill the gap in the large-size commercial mortgage sector left by lenders currently unable to provide whole loans of more than £100 million, at up to 75% LTV, particularly outside core locations or prime assets………………………………………..Full Article: Source

Posted on 30 January 2013 by VRS |  Email |Print

Here’s some more evidence of the increasing interest that large pension funds are showing in the catastrophe bond, insurance-linked securities and reinsurance-linked investment space. The New Zealand Superannuation Fund, a fund for the state-run retirement benefit (pension) available to all working New Zealanders, already has an allocation to cat bonds in its alternative investment portfolio but is considering increasing it further.
We wrote about the NZ$20 billion plus pension funds allocation to the ILS space back in 2010 here and here. The allocation to catastrophe insurance-linked securities currently amounts to approximately NZ$260m which the pension fund places with U.S. ILS fund manager Elementum Advisors, and we assume the investment continues to be managed by that firm………………………………………..Full Article: Source

Posted on 30 January 2013 by VRS |  Email |Print

Samruk-Kazyna increases the potential for cooperation in the implementation of investment projects in the petrochemical, hydro and thermal power, renewable and alternative energy, engineering, pharmacy.
Kazakhstan Sovereign Wealth Fund Samruk-Kazyna was established to improve the competitiveness of the national economy and prevent the negative impact of the world markets on the economic growth in the country. The main instrument to achieve these goals - diversification and innovative development of the national economy. (Press Release)

Posted on 30 January 2013 by VRS |  Email |Print

Rep. Jay Love, R-Montgomery, has filed legislation that would require the state to pay back $437 million borrowed from the Alabama Trust Fund by 2026.
The legislation would establish benchmarks for repayment of the money, taken to shore up the state’s troubled General Fund, which pays for most noneducation funding in the state. About $145 million was transferred from the ATF into the General Fund for the current fiscal year; additional transfers are scheduled for FY 2014 and FY 2015………………………………………..Full Article: Source

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