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Sovereign Wealth Funds Briefing 31.May 2013

Posted on 31 May 2013 by VRS |  Email |Print

Norway’s $740-billion sovereign wealth fund, the world’s largest, is examining labour conditions in the mining industry and may sell out of firms that violate workers’ rights, the head of the fund’s ethics council said.
The fund could also divest from companies involved in cattle ranching, if working conditions on farms are exploitative, and from firms implicated in illegal or unregulated fishing………………………………………..Full Article: Source

Posted on 31 May 2013 by VRS |  Email |Print

Norway revealed it’s tapping cash to subsidize its overheated housing market after proposing a 50 percent increase in mortgage lending to government employees. The plans to spend more on a market already showing signs of imbalance, revealed in this month’s revised budget, come as the International Monetary Fund urges the government to rein in spending.
Norway, which relies on the world’s largest sovereign wealth fund to keep it debt free, has in the past sold bonds to fund government lending programs while tapping the $740 billion wealth fund to plug budget deficits……………………………………….Full Article: Source

Posted on 31 May 2013 by VRS |  Email |Print

Norway’s Government Pension Fund has neglected to apply best practice in sustainable investments and is not yet fully addressing the impacts of global warming, according to the World Wildlife Fund, Norway (WWF-Norway). The fund, which is based on petroleum revenues, is currently estimated at $381bn, and is the world’s second largest sovereign wealth fund. More than one per cent of all European stocks are owned by Norway’s Government Pension Fund.
Rasmus Hansson, CEO of WWF-Norway, commented: “Loaded with petroleum cash, Norway has a special responsibility in low carbon development and to help mitigate impacts from global warming on hundreds of millions of the world’s poor………………………………………..Full Article: Source

Posted on 31 May 2013 by VRS |  Email |Print

The state oil fund SOFAZ — an entity that accumulates and manages Azerbaijan’s oil and gas revenues — as a long-term investor is seeking stability of its real estate investments and thus aims to invest in assets in developed markets with long-term profitability.
SOFAZ Executive Director Shahmar Movsumov said that currently the Fund is studying the possibility of acquiring commercial property in Asia and Australia. “In particular, SOFAZ representatives have visited Seoul and Shanghai, as well as the major Australian cities Melbourne and Sydney in order to find high-quality commercial real estate,” Movsumov said………………………………………..Full Article: Source

Posted on 31 May 2013 by VRS |  Email |Print

Chinese and Qatari sovereign wealth funds are being targeted by the Treasury to offset an “irrational aversion” to construction risk which is delaying projects, the head of Infrastructure UK. Geoffrey Spence has said.
“It’s not because we have a preference for [sovereign wealth funds] investing in these projects, but because in some cases they may be a source of construction equity – certainly I think that’s true for Chinese investors,” he said………………………………………..Full Article: Source

Posted on 31 May 2013 by VRS |  Email |Print

One of the biggest fears for investors is to buy at the top of any market. This is a natural reaction because most of us were taught since childhood to do the opposite. For example, my parents always emphasized the importance of buying products when they’re on sale.
Some people view the significant rise in home prices with apprehension, believing that these prices have risen too far. While it is true that home prices have risen substantially, as long as interest rates remain low, there is potential for further capital appreciation………………………………………..Full Article: Source

Posted on 31 May 2013 by VRS |  Email |Print

London based insurance-linked securities and reinsurance-linked investment manager Leadenhall Capital Partners has secured a major new $275m investment mandate from the New Zealand Superannuation Fund. It’s not the NZ Superannuation Fund’s first allocation to insurance-linked securities but it is the largest allocation to catastrophe and reinsurance linked assets the Fund has made to date.
The NZ Superannuation Fund has appointed Leadenhall Capital Partners to manage a US$275m mandate which is focused on natural catastrophe reinsurance linked investments, including direct reinsurance linked assets as well as catastrophe bonds………………………………………..Full Article: Source

Posted on 31 May 2013 by VRS |  Email |Print

The Alaska Permanent Fund Corporation has earmarked approximately $300m (€233m) to invest real estate after it increased the maximum leverage allowed in its real estate portfolio from 25% to 35% and adding a 50% leverage maximum on any one property.
Mike Burns, executive director for Alaska, said: “We have seen how low the current interest rates are now, and we wanted to take advantage of this situation………………………………………..Full Article: Source

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