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Sovereign Wealth Funds Briefing 18.Apr 2013

Posted on 18 April 2013 by VRS |  Email |Print

World gold prices will pick up over time as a global economic recovery gains traction, a senior official of China’s $482-billion sovereign wealth fund said on Wednesday.
Gold has fallen about 18 percent so far this year after an unbroken 12-year string of gains. It rebounded to $1,381.80 an ounce on Wednesday after tumbling to $1,321.35 the previous day………………………………..Full Article: Source

Posted on 18 April 2013 by VRS |  Email |Print

Gao Xiqing, president of China Investment Corp., the country’s $500-billion sovereign wealth fund, recently denounced Japan thusly (paywall): “Treating the neighbors as your garbage bin and starting a currency war would not only be dangerous for others but eventually be bad for yourself.”
But today, another CIC head, Jin Liqun, blew off those concerns: “Monetary easing … is a necessary but not sufficient condition,” said Jin, who chairs CIC’s supervisory committee (paywall). It’s hard to know why they differ—or even whether they differ. Both Gao and Jin are chatty guys, and the media quotes them a lot. That’s probably because, unlike China’s generally wooden political elite, they are comfortable with the media, speak great English, and have dry wits…………………………………Full Article: Source

Posted on 18 April 2013 by VRS |  Email |Print

China’s economy will grow at sustainable levels and there is no need for panic about the level of growth, Jin Liqun, chairman of China Investment Corp supervisory board told CNBC on Wednesday. “I don’t think people need to panic, China will continue to grow at sustainable levels. The government target will be met without much difficulty,” said Jin.
China’s first quarter economic growth figure came in at 7.7 percent which was below expectations and lower than the previous quarter’s 7.9 percent growth, raising questions about the strength of the rebound in the world’s second largest economy. The government’s gross domestic product growth target for 2013 is 7.5 percent…………………………………Full Article: Source

Posted on 18 April 2013 by VRS |  Email |Print

The Qatar Financial Centre has plans in place to buy hedge funds as part of a strategy to bolster the asset management industry based in the country. In an interview given to a local media outlet, Yousuf Al-Jaida, chief strategic development officer said the QFC is currently implementing a four-stage process to build the local asset management presence in Doha and that the strategy of buying hedge funds is part of “Wave 2”.
Al-Jaida told MENA Fund Manager that the QFC is currently implementing “Wave 1” of its strategy which centres on incentivising global asset managers to set up shop in Qatar by offering to seed new funds, with capital supplied by Qatar’s Sovereign Wealth Fund…………………………………Full Article: Source

Posted on 18 April 2013 by VRS |  Email |Print

They may be on opposite sides of the Earth, but Chile in Latin America and Central Asia’s sparsely populated Mongolia share more than a few similarities. Both boast some of the biggest copper deposits in the world and now Mongolia has turned to Chile for advice on how best to steward income from its forecast bounty that stretches out beneath the Gobi desert.
It is sourcing help from one of the architect’s of Chile’s rocketing $22.9-billion sovereign fund. Eric Parrado, former international financial coordinator at Chile’s ministry of finance and now advising other emerging economies on the steps to managing resource wealth, has become synonymous with Chile’s global reputation on wealth fund expertise…………………………………Full Article: Source

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