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Sovereign Wealth Funds Briefing 05.Mar 2013

Posted on 05 March 2013 by VRS |  Email |Print

China Investment Corporation, China’s sovereign wealth fund, registered a 10.6 percent return ratio on its investments last year, said Liang Xiang, executive vice-president of CIC on Monday. “The performance is very comforting amid the backdrop of a complicated economic situation and financial markets last year,” she said.
Liang said that half of CIC’s portfolio was invested in the open market, while the other half was invested in long-term projects in the real economy. “Real estate will not be a major target for our investments, but it will continue to be a part of our portfolio that provides sound returns,” Liang said………………………………………..Full Article: Source

Posted on 05 March 2013 by VRS |  Email |Print

Temasek Holdings, Singapore’s sovereign wealth fund, bought a 5-per cent stake in Repsol SA, for €1.04 billion ($1.35 billion), lifting its holding in the Spanish oil giant to 6.3 per cent.
Temasek, one of the world’s biggest investors with over €115 billion of assets, paid €16.01a share, or a 1.7 per cent discount to Friday’s close. The Madrid-based company sold its entire portfolio of treasury stock at a discount and booked a €148 million loss on the transaction………………………………………..Full Article: Source

Posted on 05 March 2013 by VRS |  Email |Print

Singapore state investment company Temasek Holdings said Monday it acquired 5% of Repsol SA for 1.04 billion euros ($1.35 billion), as part of a strategy to increase its exposure to the energy sector.
The share sale further boosts Repsol’s balance sheet, following an agreement last week to sell most of its liquefied natural gas assets to Royal Dutch Shell PLC for $4.4 billion in cash, plus the assumption of $2.3 billion in debt………………………………………..Full Article: Source

Posted on 05 March 2013 by VRS |  Email |Print

In a mini-reshuffle, Singapore’s sovereign wealth fund GIC announced it had appointed Jeffrey Jaensubhakij as president of its asset management business, which manages public market investments.
The 46-year-old, who joined GIC in 1998 as a senior economist covering the US, relinquishes his position as the firm’s Europe president and will relocate from London to Singapore to take up the role, effective from April 1………………………………………..Full Article: Source

Posted on 05 March 2013 by VRS |  Email |Print

Libyan Prime Minister Ali Zaidan said the head of the country’s sovereign wealth fund should step aside and allow his successor to take over after he was fired. “We are hoping that Mr Derregia will do the right thing and step down,” Prime Minister Ali Zaidan told reporters yesterday in Tripoli, referring to Mohsen Derregia, Chairman and Chief Executive Officer of the fund, who was fired recently.
Derregia is refusing to leave his post and hasn’t given a reason for his attempts to remain in his position. Ali Mohamed Salem Hebri, deputy governor of the Central Bank of Libya, is set to take over………………………………………..Full Article: Source

Posted on 05 March 2013 by VRS |  Email |Print

The Abu Dhabi Investment Authority lost its legal challenge to an 2011 arbitration ruling in favor of Citigroup Inc. (C) over the sovereign-wealth fund’s investment during the financial crisis.
Judge George Daniels of the U.S. District Court of the Southern District of New York denied the investment authority’s motion to vacate a ruling from 2011, which had denied Abu Dhabi’s claim for $4 billion in damages resulting from its investment in Citi. Abu Dhabi had invested $7.5 billion in Citi in 2007, just as the financial crisis began to unfold. The authority claimed the investment was made on the basis of fraudulent statements by Citi………………………………………..Full Article: Source

Posted on 05 March 2013 by VRS |  Email |Print

Former Lawrence Graham (LG) technology partner Peter Brudenall has joined the Abu Dhabi Investment Authority (ADIA) in its in-house legal team.
Brudenall co-ordinated LG’s technology, outsourcing and data protection practice out of London, with this portfolio now passed on to partner Jonathan Riley, working under projects head Christopher Tite………………………………………..Full Article: Source

Posted on 05 March 2013 by VRS |  Email |Print

The board of trustees at the Alaska Permanent Fund Corporation (APFC) amended guidelines for investing in infrastructure. Listed infrastructure is now an allowable infrastructure investment which will increase liquidity in the infrastructure portfolio. The board also approved the co-investment process for infrastructure investments.
According to APFC’s press release, “Our internal staff has put together a detailed review process for analyzing infrastructure co-investment opportunities that ensures each investment will see a thorough review,”said Board Chair Bill Moran………………………………………..Full Article: Source

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