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Sovereign Wealth Funds Briefing 28.Feb 2013

Posted on 28 February 2013 by VRS |  Email |Print

Australia’s US$86 billion state pension fund will sell off its 222 million Australian dollar (US$228 million) of holdings in tobacco companies after considering the health problems caused by smoking. The decision by the Future Fund also comes after the government recently introduced tough new plain-packaging laws for tobacco products. The Fund’s move was widely expected after the Future Fund said in October it was reviewing its tobacco holdings.
This isn’t the first time the fund has changed its investment allocation on ethical grounds. In 2011, it sold its holdings in 10 defense companies that manufactured munitions such as cluster bombs and land mines………………………………………..Full Article: Source

Posted on 28 February 2013 by VRS |  Email |Print

In keeping with its goal of encouraging more foreign investment into Australia, the Federal Government will change existing laws to ensure foreign pension and sovereign wealth funds can access the Managed Investment Trust (MIT) withholding tax regime.
In summary, the regime allows a MIT to make payments to non-residents at concessional withholding tax rates, offering an attractive Australian investment option for foreign funds where they and their members are ultimately based overseas. The use of MITs in Australia is growing rapidly. In the superannuation industry alone, the value of savings under management has exploded from $183 billion in 1993 to $1.5 trillion today………………………………………..Full Article: Source

Posted on 28 February 2013 by VRS |  Email |Print

U.K.-registered Gingko Tree Investment Ltd., a wholly owned unit of China’s State Administration of Foreign Exchange (SAFE), has invested more than 1.6 billion U.S. dollars in at least four deals, including a water utility, student housing, and office buildings in London and Manchester, according to data providers that track property deals and disclosures by the companies that received the investments.
China Investment Corporation, China’s sovereign wealth fund, has also been actively investing in U.K. property and infrastructure. Last November, CIC bought Winchester House for about 400.6 million U.S. dollars. Its investments in U.K. infrastructure include small stakes in Heathrow Airport Holdings and water utility Thames Water………………………………………..Full Article: Source

Posted on 28 February 2013 by VRS |  Email |Print

The Libyan Investment Authority (LIA) is the sovereign wealth fund (SWF) of Libya. In other words, it is a state-owned institute that is responsible for the proper investment management of Libya’s mounting oil revenue surpluses (any revenue in excess of the subscribed annual fiscal budget for the Libyan Government).
According to the official website of the LIA, the fund was established by a General Peoples Committee Decree in December 2006 to “protect and develop the value of Libya’s oil revenue reserves and to diversify the sources of national income away from the dependence on these.”……………………………………….Full Article: Source

Posted on 28 February 2013 by VRS |  Email |Print

Britain should develop links with Azerbaijan, British MP, member of the Energy and Climate Change of the House of Commons, Chris Pincher believes. In his article published on monthly British political magazine Parliamentary Brief, Pincher writes that Azerbaijan can become crossroads between Europe and Asia, as well as a crucial energy supplier.
The Azeris running SOCAR, the state oil company, and SOFAZ, its sovereign wealth fund, are western-educated, westward-looking men, who see Azerbaijan’s future in the WTO, the article says. This new generation of political leaders look to the British/American model, not the Chinese model, for inspiration, Pincher believes………………………………………..Full Article: Source

Posted on 28 February 2013 by VRS |  Email |Print

Increasingly, Europe and its Eastern neighbors are in need of steady energy supplies. Pipeline politics are influencing investment and geopolitical decisions. Natural gas from Central Asia is attempting to connect with European and Turkish energy consumers through new routes.

The Trans-Anatolian pipeline (TANAP) is a pipeline project that aims to transport 16 billion cubic meters of gas per annum through Georgia, Turkey and then to Europe. The pipeline will avoid Russia and Iran. The pipeline will deliver gas from the Caspian field of Shah Deniz to Europe………………………………………..Full Article: Source

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