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Sovereign Wealth Funds Briefing 15.May 2013

Posted on 15 May 2013 by VRS |  Email |Print

In the last days of 2012, executives from Norway’s oil-rich government fund gathered in their Oslo headquarters to thrash out the details of a €2.4bn deal that would a year earlier have been an unlikely call for even the most sagacious property market observer.
The world’s largest sovereign wealth fund was about to sanction its most lavish spending spree on property – buying warehouses………………………………………..Full Article: Source

Posted on 15 May 2013 by VRS |  Email |Print

Severn Trent has rejected an approach from a consortium of Canadian and Kuwaiti investors, saying the £5.3bn proposal is too low. The FTSE 100 company, which supplies water to more than 4.2m households, met with Canada’s Borealis, the Kuwait Investment Office and the Universities Superannuation Scheme yesterday, causing Severn Trent’s shares to jump 14pc.
“At that meeting, a conditional proposal was tabled by the Consortium at only a modest premium to the share price before the announcement of May 14. The board of Severn Trent has reviewed the proposal with its advisers and concluded that it completely fails to recognise the existing and potential value of Severn Trent,” the company said………………………………………..Full Article: Source

Posted on 15 May 2013 by VRS |  Email |Print

Kuwait’s sovereign wealth fund and a Canadian infrastructure investor are discussing a bid for Severn Trent Plc (SVT), the U.K.’s second-largest publicly traded water company that’s valued at almost 5 billion pounds ($7.6 billion).
The Kuwait Investment Office, Borealis Infrastructure Management Inc. and Britain’s Universities Superannuation Scheme approached the utility regarding a possible takeover, Coventry, U.K.-based Severn Trent said today in a statement………………………………………..Full Article: Source

Posted on 15 May 2013 by VRS |  Email |Print

The Norwegian Government Pension Fund Global (GPFG) is the largest sovereign wealth fund in the world and individuals could learn a great deal from it.
After discovering its first oilfield in 1969, Norway has created this Fund that received its first sum of money of about $300m in 1996. Now (May 13, 2013), it has a value of more than $750b (NOK 4,313b). The strategy and the philosophy underlying the asset allocation could be used by any individual investor with a portfolio of merely $ 50,000………………………………………..Full Article: Source

Posted on 15 May 2013 by VRS |  Email |Print

The Palestinian Investment Fund (PIF) is a sovereign fund for the Palestinian Authority (PA) intended to manage PA investments inside and outside Palestine. The PIF was established in 2003 to satisfy the international community’s request that then President Yasser Arafat promote transparency and declare the PA’s properties and investments.
At the time, it was interpreted as an attempt by donor countries to reduce Arafat’s powers, restrict his control over public money and constrain his freedom in spending funds from outside the budget. Arafat was accused of running non-registered investments to spend on military matters and misallocating some aid from donor countries intended for refugee camps in the diaspora, especially in Lebanon………………………………………..Full Article: Source

Posted on 15 May 2013 by VRS |  Email |Print

Serbia’s foreign-exchange reserves fell 5.84 percent in April from the previous month as the government repaid half of its outstanding debt to the London Club of commercial lenders.
The reserves contracted to 11.15 billion euros ($14.46 billion) from 11.84 billion euros, Belgrade-based Narodna Banka Srbije said in an e-mailed statement today. Outflows included the repayment of 305.4 million euros to the London Club of bank lenders and 72 million to other creditors, while banks withdrew 274.3 million euros from their mandatory reserve accounts………………………………………..Full Article: Source

Posted on 15 May 2013 by admin |  Email |Print

At the end of 2011, sovereign-wealth funds’ assets under management amounted to $3 trillion, following 237 direct investments worth $81 billion that year. Some experts even estimate SWFs’ assets to be worth $6 trillion. This means that SWFs, the avatars of state capitalism, are now twice as rich as the world’s hedge funds, the totems of liberal capitalism’s excesses.
The growing might of SWFs is causing concern - and, in some cases, inciting virulent criticism - particularly in host OECD countries, where many fear the redistribution of financial, economic, and political power to emerging countries that have very different political regimes from their own. In fact, of the seven SWFs that control more than two-thirds of all SWFs’ assets, three are from Asia (one from China and two from Singapore) and three are from the Middle East (Abu Dhabi, Kuwait, and Qatar)………………………………………..Full Article: Source

Posted on 15 May 2013 by VRS |  Email |Print

East Timor’s Oil Fund grew by US$1.2 billion in the first quarter of the year to US$13 billion at the end of March, said the East Timor Central Bank in Dili Monday.
According to the bank’s statement, gross monies paid into the Fund from royalties and taxes totalled US$946 million, and no funds were transferred to the State’s general account in the period………………………………………..Full Article: Source

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