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Sovereign Wealth Funds Briefing 04.Apr 2013

Posted on 04 April 2013 by VRS |  Email |Print

Norway’s $717 billion sovereign wealth fund signaled it risks missing out on returns based on global economic growth amid concern that barriers to capital movements and taxes on investments are spreading.
“There are large parts of the global economy where we don’t have the opportunity to invest,” Yngve Slyngstad, chief executive officer of Norges Bank Investment Management, said at a parliamentary hearing in Oslo today, citing barriers in China in particular. “There’s some risk that the fund won’t take part in the collected growth of the world economy if we can’t get these obstacle reduced over time.”……………………………………….Full Article: Source

Posted on 04 April 2013 by VRS |  Email |Print

The expected annual yield of 4% for Norway’s $700 billion oil fund is uncertain in the long-term, the fund’s Chief Executive Yngve Slyngstad told a parliamentary committee Wednesday. “The estimated 4% real yield is uncertain, also for long time horizons,” Mr. Slyngstad told the Standing Committee on Finance and Economic Affairs, which is holding hearings on the funding needs of the Norwegian welfare state as the population grows older.
Mr. Slyngstad was invited to comment on a government white paper outlining the long-term financing of the generous Nordic welfare state. Like many European countries, Norway has an aging population and welfare spending is set to grow faster than tax revenues………………………………………..Full Article: Source

Posted on 04 April 2013 by VRS |  Email |Print

Liberal Party senatorial candidate Ramon Magsaysay Jr. on Wednesday said the government should take risks in creating a Sovereign Wealth Fund (SWF) to sustain the country’s strong financial standing. Magsaysay emphasized that the SWF will not only stabilize the country’s resilient economic growth but will also help expand and boost competition among small and medium enterprises (SMEs) that are said to be responsible for driving innovation in many economic sectors.
“In order for us to sustain our economic advances, we must make our entrepreneurs bigger. There are thousands of entrepreneurs and SMEs all over the countryside. Many of them are doing well but they lack necessary financial requirements to further improve their businesses,” Magsaysay said………………………………………..Full Article: Source

Posted on 04 April 2013 by VRS |  Email |Print

Leading basmati rice company Bush Foods Overseas Ltd today said it has sold majority stake in the company to Qatar-based investment firm Hassad Food for more than $ 100 million.
Hassad Food Company is a wholly-owned subsidiary of Qatar Holding, which is part of Qatar’s sovereign wealth fund Qatar Investment Authority (QIA). It invests in agriculture and livestock sectors. Bush Foods sells basmati rice under ‘Neesa’ brand. It has a facility in Haryana with an annual capacity of 1.7-2 lakh tonnes. It posted a turnover of Rs 1,340 crore in last fiscal………………………………………..Full Article: Source

Posted on 04 April 2013 by VRS |  Email |Print

TA Securities speculated that the opposition Pakatan Rakyat coming into power could spell the end of 1Malaysia Development Bhd (1MDB), and that its assets could be transferred to state-controlled investment arm Khazanah Nasional Bhd.
“Perhaps, the only difference between both sides of the divide is the fate of 1MDB,” TA Securities said in its report. The comparison between the two has been ongoing since 1MDB first came about in September 2009 - when it transferred from Terengganu Investment Authority (TIA) to federal control………………………………………..Full Article: Source

Posted on 04 April 2013 by VRS |  Email |Print

It’s time that US taxpayers received some rewards for helping to shoulder huge macroeconomic risks, according to Miles Kimball. Could a US sovereign wealth fund be the solution?
At its inception, a US sovereign wealth fund would be established by issuing $1trn worth of low-interest safe Treasury bonds and investing those funds in high-expected-return risky assets. That takes those risky assets out of the hands of private investors and puts safe assets in their hands instead………………………………………..Full Article: Source

Posted on 04 April 2013 by VRS |  Email |Print

Eight Democratic legislators filed legislation to protect the Permanent Fund Dividend by placing the current dividend formula in the Alaska Constitution. With GOP leaders pushing an oil giveaway that is likely to cost Alaskans upwards of $1 billion or more a year, future legislators are likely to start cutting the Dividend to fund state revenue.
To protect against attempts to spend the Dividend in tight economic times, former Governor Jay Hammond proposed an initiative in 2002 that would have enshrined the Dividend in the Constitution, but Lt. Governor Loren Leman rejected it as not able to be done by initiative………………………………………..Full Article: Source

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