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Sovereign Wealth Funds Briefing 28.Mar 2013

Posted on 28 March 2013 by VRS |  Email |Print

Kazakhstan’s Samruk-Kazyna Sovereign Wealth Fund has suggested that Halyk Bank consider purchasing BTA Bank, KazTag Agency reports, citing Ms. Umyt Shayakhmetova, Halyk Bank’s Chairwoman of the Board as saying March 27.
“This morning the Bank received a letter from the Sovereign Wealth Fund asking to start talks (…) to consider purchasing BTA Bank”, Ms. Shayakhmetova said. Earlier the country’s Vice PM Kairat Kelimbetov announced in an interview that as part of the government’s plan to launch a single pension fund there is an option of exchanging Halyk Bank Pension Fund’s shares for BTA Bank’s shares [owned by Samruk-Kazyna Sovereign Wealth Fund]………………………………………..Full Article: Source

Posted on 28 March 2013 by VRS |  Email |Print

Norway’s central bank said Wednesday it plans to sell 300 million Norwegian kroner ($51.4 million) a day in April to buy foreign currency on behalf of the Government Pension Fund Global, commonly known as the oil fund.
Norges Bank also sold NOK300 million daily in the first three months of the year to obtain foreign currency for the fund’s investments. The fund, set up in 1990 to safeguard Norway’s oil wealth, had a market value of NOK3,816 billion ($654 billion) at the end of 2012–making it one of the largest sovereign wealth funds in the world………………………………………..Full Article: Source

Posted on 28 March 2013 by VRS |  Email |Print

How has Norway managed to create a fund, called the Norwegian Government Pension Fund now containing about $654 billion (as of September 2012) while Alaska’s Permanent Fund only contains about $42 billion (as of August 2012)?
I know the federal government’s share of the Alaskan oil revenue pie, and the Alaska budget reserve fund (among other revenue receiving destinations) need to be factored in to begin to make an apples to apples comparison of these funds, but how can the roughly $600 billion difference be accounted for?……………………………………….Full Article: Source

Posted on 28 March 2013 by VRS |  Email |Print

The Government of Singapore Investment Corporation (GIC) has partnered with Kohlberg Kravis Roberts, a leading global investment firm, to establish a non-banking financial company (NBFC) to lend funds to Indian developers.
The real estate-focused NBFC will be the first of its kind in India and initially will have a corpus of US$150 million (S$186.19 million), reported news portal Livemint.GIC will be one of the anchor investors in the NBFC with KRR “putting capital from its balance sheet into it”, sources said………………………………………..Full Article: Source

Posted on 28 March 2013 by VRS |  Email |Print

Central Huijin Investment Ltd, wholly owned subsidiary of China Investment Corporation, spent 2.8 billion yuan ($446.21 million) to increase its stakes in four of China’s biggest lenders in the fourth quarter of last year, according to the banks’ annual report released recently.
According to an announcement in October 2012, Central Huijin’s plan to increase its stakes on the four banks would last for six months, which means the investment company will buy more shares before April………………………………………..Full Article: Source

Posted on 28 March 2013 by VRS |  Email |Print

Lend Lease is under pressure to find an investor and operator for its 900-room hotel at Sydney’s Darling Harbour by mid-year, given that the project must be fully completed by 2016.
The Abu Dhabi Investment Authority is understood to be in the front position to fund the prime twin-tower hotel, should it be interested in the project, but Lend Lease development director David Hutton says there are at least three short-listed parties intent on buying it. The hotel’s design must be decided by mid-year for Lend Lease to lodge a planning application, under a timeframe that Mr Hutton admitted was “robust”………………………………………..Full Article: Source

Posted on 28 March 2013 by VRS |  Email |Print

The Falklands’ first commercial oil discovery will make the islands in the South Atlantic rich, bringing the British territory of 2,563 people $10.5 billion in tax revenue over 25 years.
The discovery “will no doubt be transformational for the islands, increasing government revenue several times over,” Mineral Resources Minister Stephen Luxton said in an interview. “What we’re looking for in a sovereign wealth fund is long-term economic security, a second string to our financial bow to the fishery,” he said, referring to the territory’s commercial fishing business………………………………………..Full Article: Source

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