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Sovereign Wealth Funds Briefing 21.Mar 2013

Posted on 21 March 2013 by VRS |  Email |Print

With an improving fiscal situation, the national government is considering establishing a sovereign wealth fund that it can use for various investments, the profits of which can be tapped for various development projects.
This was according to Governor Amando Tetangco Jr., who said the Bangko Sentral ng Pilipinas would be willing to sell dollars to the national government should the creation of the fund be pursued and should foreign currency-denominated assets be considered among the investment options. “The government is looking into it [creation of the fund]; it is very much on the drawing board right now,” the BSP governor said………………………………………..Full Article: Source

Posted on 21 March 2013 by VRS |  Email |Print

The Bangko Sentral ng Pilipinas (BSP) has offered to sell US dollars to the National Government to capitalize the proposed sovereign wealth fund. On the sidelines of the national convention of the Chamber of Thrift Banks (CTB), BSP Governor Amando V. Tetangco Jr. said the country’s economic team led by Finance Secretary Cesar Purisima is proposing to establish a sovereign wealth fund, which would be government’s tool to make investments in the open or international market as another instrument for raising funds.
However, the wealth fund must be capitalized with US dollars. “If the government decides to put up the wealth fund, we can sell them the dollars which they can use to fund their operations especially overseas,” Tetangco said………………………………………..Full Article: Source

Posted on 21 March 2013 by VRS |  Email |Print

The establishment of a sovereign wealth fund is still “on the drawing board,” but if one is set up the Bangko Sentral ng Pilipinas can sell dollars to the government, the head of the central bank said Wednesday.
“As the Secretary of Finance has mentioned, it is still in the early stages. So it’s very much on the drawing board right now. Based on the study, they’ll be able to determine whether that is something that the government would want to establish,” BSP Governor Amando Tetangco Jr. said on the sidelines of the Chamber of Thrift Banks annual convention in Makati………………………………………..Full Article: Source

Posted on 21 March 2013 by VRS |  Email |Print

Australia’s Future Fund is set for a $175 million windfall with plans to sell its stake in a Birmingham shopping centre. As Britain was in the midst of the worst recession in a generation in 2009, the federal government’s investment fund gambled $300 million on a 33 per cent share buy up in the Bullring shopping centre, a futuristic shopping mall built in 2003 on the site of where a market has existed since the Middle Ages.
At the time the owner, a FTSE 100 property company, was struggling to balance its books and happy to off load a share………………………………………..Full Article: Source

Posted on 21 March 2013 by VRS |  Email |Print

The New Zealand Superannuation Fund is worth close to $22 billion after its investments returned 17.58 per cent in the year to February 28. The fund, which was set up in 2003 to help pay for the costs of the baby boomer retirement bubble, was up 1.31 per cent last month despite having no new financial contributions from the Government in the last three years.
The fund now has an average yearly return of 8.41 per cent per annum since its was launched in September 2003 and has added $5 billion above what it would have got if the money had been invested at the Treasury Bill rate………………………………………..Full Article: Source

Posted on 21 March 2013 by VRS |  Email |Print

Three private equity (PE) majors are in the final stages of negotiations with Lafarge India, country arm of the France-based multinational in building materials, to acquire a minority stake.
The three PE entities are the Singapore government-owned Temasek Holdings, Carlyle and Standard Chartered PE. According to sources in the know, these three are in the final stages of talks to invest $250-300 million (Rs 1,358-1,629 crore) in the company. There were other PE entities which were interested at one stage, such as KKR, TPG Capital and Blackstone; these have since withdrawn, it is learnt. Lazard is advising Lafarge India for the fund raising………………………………………..Full Article: Source

Posted on 21 March 2013 by VRS |  Email |Print

Healthcare Global Enterprises Ltd (HCG) has received a Rs.130 crore fund infusion form Temasek Holdings, a Singapore based Investment Company. The cancer care major said that the funds will be used for its next phase of expansion which includes a Greenfield project in Bengaluru, entry into Africa and expansion of its current 26 centre network of hospitals in the country.
This is the fifth fund infusion for HCG as Temasek joins HCG’s existing investors and become a shareholder in the company. The venture capitalists and private equity players have evinced considerable interest in funding oncology care………………………………………..Full Article: Source

Posted on 21 March 2013 by VRS |  Email |Print

Khazanah Nasional Bhd, Malaysia’s state investment company, is planning more domestic divestments while expanding overseas, managing director Tan Sri Azman Mokhtar said.
Malaysia’s initial public offering (IPO) market grew to the world’s fifth-largest last year, up from 14th in 2011, according to data compiled by Bloomberg. Almost 70 per cent of the US$6.8 billion raised through IPOs were due to the government divestments of shares in companies, the data showed………………………………………..Full Article: Source

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