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Sovereign Wealth Funds Briefing 15.Mar 2013

Posted on 15 March 2013 by VRS |  Email |Print

Malaysia’s Khazanah Nasional Bhd is seeking to buy General Electric’s $1.8 billion stake in Bank of Ayudhya (BAY), sources familiar with the matter said, pitting it against Japanese banking giant Mitsubishi UFJ Financial Group (MUFG).
Khazanah’s bid for GE’s 25.3 percent stake came as a surprise, the sources said, declining to be identified as the information was not public. The proposed acquisition would be the largest purchase of an overseas banking asset by Khazanah as it plays catch-up with Singapore state investor Temasek Holdings Pvt Ltd . The Malaysian sovereign wealth fund currently manages a portfolio that is just a quarter of the $158 billion of assets held by its neighbouring rival………………………………….Full Article: Source

Posted on 15 March 2013 by VRS |  Email |Print

The decision of Qatar’s sovereign wealth fund to seed a publicly-listed investment firm on the Qatari stock exchange is not only an interesting development in asset management in the region, but also one that says a lot about the organization’s willingness to open itself up for additional scrutiny.
Qatar Holding - the company backed by sovereign wealth from the Qatar Investment Authority - is to put USD 3 billion into the new investment vehicle listed on the Qatar stock exchange, which is to be called Doha Global………………………………….Full Article: Source

Posted on 15 March 2013 by VRS |  Email |Print

Qatar retained its ranking as the world’s richest country in 2012, with its per capita income soaring to an incredible $106,000, while Qatar Investment Authority (QIA), with assets of $115bn, was ranked 12th among sovereign wealth funds in the world.
As for QIA, the UK-based TheCityUK ranked it 12th among the world’s sovereign wealth funds in terms of asset size in the year 2012. The assets of the QIA totalled $115bn. TheCityUK said in a report titled ‘Sovereign Wealth Funds’ released this month that the profile of sovereign wealth funds had risen considerably since 2007………………………………….Full Article: Source

Posted on 15 March 2013 by VRS |  Email |Print

Qatar has plans to expand its food security options in Pakistan and the state-owned corporation, Hassad Food, has opened an office in Lahore, Pakistan’s ambassador Mohamed Sarfraz A Khanzada said. Hassad Food was established by the Qatar Investment Authority in 2008 with a capital of $1bn to secure food supplies through agricultural investments worldwide.
It was after the then prime minister Yousaf Raza Gilani’s visit to Qatar in February 2012, Hassad Food showed interest in making investments in Pakistan. Khanzada said Qatar was already getting rice from Pakistan. In April, 2012, Hassad Food had announced the launch of “Nathry Extra Long Basmati Rice” that mainly came from Pakistan………………………………….Full Article: Source

Posted on 15 March 2013 by VRS |  Email |Print

The collective assets of Sovereign Wealth Funds, or SWFs, in the GCC surged to an all time high of around 1.7 trillion at the end of 2012, boosted by mounting fiscal surpluses on the back of high oil prices, Moody’s Investors Service said in a new report.
The London-based rating agency said in a report that the assets controlled by SWFs in the GCC climbed by nearly 700 billion from their level of around 1 trillion at the end of 2007. Moody’s observed that the GCC economies have benefited from large foreign-exchange inflows driven by oil revenues, adding that some of the windfall has been spent through the governments’ fiscal accounts while the rest was placed in SWFs, reinforcing their financial strength………………………………….Full Article: Source

Posted on 15 March 2013 by VRS |  Email |Print

Sovereign wealth funds will increase their allocations to real estate and infrastructure in an attempt to diversify portfolios currently over-allocated to bank equities, according to a report from TheCityUK, a body representing the UK financial services sector.
Marko Maslakovic, senior manager for economic research, said the underperformance of financial services sector investments made during the financial crisis had left sovereign wealth funds with negative domestic publicity………………………………….Full Article: Source

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