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Sovereign Wealth Funds Briefing 05.Feb 2013

Posted on 05 February 2013 by VRS |  Email |Print

Russia’s Finance Ministry may hire private companies to manage part of the country’s fiscal reserves, Deputy Finance Minister Sergei Storchak wrote in business daily Vedomosti on Monday.
Storchak said that three Russian investment banks - VTB Capital , Troika Dialog and Renaissance Capital could qualify as fiduciary managers, as they are “leaders on the market of such operations.” Troika Dialog was rebranded as Sberbank CIB last year following its acquisition by Sberbank, Russia’s largest bank…………………………………….Full Article: Source

Posted on 05 February 2013 by VRS |  Email |Print

A recovery in world share markets helped boost the investment returns earned by the Future Fund, Australia’s $82 billion sovereign wealth fund, by more than 12 per cent last year.
In its latest portfolio update, the fund reported today that it had generated returns of 12.8 per cent over the 2012 calendar year - considerably higher than the 7.9 percent annual return achieved over the past three years and the 5.3 per cent average annual return over the past five years. The fund has now returned an annual average rate of 5.4 per cent since it began in May 2006…………………………………….Full Article: Source

Posted on 05 February 2013 by VRS |  Email |Print

Anderson Investments, a wholly owned unit of Singapore investment firm Temasek Holdings, has signed a 2.9 trillion rupiah (S$369 million) exchangeable rights subscription agreement with Indonesian investment company PT Multipolar, Bloomberg reported on Monday.
The rights can be converted into a 26.1 per cent stake in PT Matahari Putra Prima, which operates hypermarkets in Indonesia, Multipolar said in a statement to the Jakarta Stock Exchange after the market closed. Multipolar said the investment would support future growth and expansion plans of Matahari…………………………………….Full Article: Source

Posted on 05 February 2013 by VRS |  Email |Print

Singapore’s state investor Temasek Holdings will buy a 26.1 per cent stake in PT Matahari Putra Prima, Indonesia’s second biggest hypermarket-chain operator, worth $300 million via PT Multipolar , a Multipolar executive said on Monday.
Temasek, via its unit Anderson Investments, will buy the $300 million equity-link instrument issued by a unit of Multipolar and then it will use the fund to buy a 26.1 per cent stake of Matahari from the market, said Multipolar’s corporate secretary Chrysologus Sinulingga…………………………………….Full Article: Source

Posted on 05 February 2013 by VRS |  Email |Print

China’s perceived economic invincibility often rests on the fact that the People’s Bank of China has accumulated $3 trillion in foreign currency reserves: in theory, this massive amount of wealth should insulate China from economic shocks. Yet many experts at home and abroad believe that the assets could instead be a losing position.
With the beginning of new economic policies in the beginning of the 1990s, China boosted its holdings of U.S. treasury debt from $200 million in 1989 to $1.17 trillion by November of 2012, according to data from the treasury. But U.S. official debt only accounts for one third of the $3.3 trillion in foreign assets that the PBOC holds on its books. According to Chinese state media, 70 percent (or $2.3 trillion) are invested in U.S. dollar assets. Apart from treasuries, this includes U.S. agency debt, U.S. corporate debt, and U.S. equities…………………………………….Full Article: Source

Posted on 05 February 2013 by VRS |  Email |Print

South Korea’s foreign currency reserves maintained record-breaking trend in January thanks to a rise in investment returns and conversion value of euro assets, central bank data showed Tuesday.
Foreign reserves were 328.91 billion U.S. dollars as of the end of January, up from the prior record high of 326.97 billion dollars in December, according to the Bank of Korea (BOK)…………………………………….Full Article: Source

Posted on 05 February 2013 by VRS |  Email |Print

Kazakh President Nursultan Nazarbayev has ordered the re-privatisation this year of three banks bailed out by the state’s national wealth fund, the presidential news service said on Monday.
As a result of injecting billions of dollars in aid during the global financial crisis the Samruk-Kazyna fund now owns over 97 percent of BTA, the country’s third-largest bank by assets, 67 percent of Alliance Bank , the eighth-largest lender, and 79.9 percent of Temirbank, 13th in order of size among the country’s 38 banks…………………………………….Full Article: Source

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