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Sovereign Wealth Funds Briefing 06.Jun 2013

Posted on 06 June 2013 by VRS |  Email |Print

Australian state investor the Future Fund has been building up its exposure to private debt as part of a wider move into riskier fixed-income assets beyond its normal corporate bond allocation.
Corporate debt accounts for 17% of its A$85.2 billion ($81.5 billion) in AUM, and at the moment, the fund has no exposure to sovereign bonds, notes Mark Burgess, president of the fund. Private debt meanwhile represents around 5% of total assets, with the exposure provided by several credit fund managers. The fund is looking to take advantage of the inefficiencies in this market, said Burgess……………………………………….Full Article: Source

Posted on 06 June 2013 by VRS |  Email |Print

A public offer superannuation fund has expanded its financial planning presence into regional Victoria, establishing an office in the town of Bendigo with a full-time financial planner.
Equipsuper, which launched its financial planning arm in 2007, will launch its second office in the region following the previous office launch in Traralgon, both of which aim to service fund members seeking advice outside Melbourne. Thirty-year financial planning veteran Michael Fitzpatrick, who previously ran his own practice, has been recruited to head up the office’s advice unit………………………………………..Full Article: Source

Posted on 06 June 2013 by VRS |  Email |Print

If further evidence was required of asset managers’ current enthusiasm for catastrophe reinsurance, then the $275mn mandate that Leadenhall Partners won from the New Zealand Superannuation Fund late last month demonstrated it perfectly.
The fund first invested in the ILS sector in 2010, with an initial $250mn mandate awarded to US-based Elementum Advisors that was later increased to $300mn. But this deal takes London-based Leadenhall Capital’s total assets under management (AuM) to around $1.4bn……………………………………….Full Article: Source

Posted on 06 June 2013 by VRS |  Email |Print

The State Oil Fund of Azerbaijan (SOFAZ) has become officially a shareholder in Russia’s VTB Bank. VTB has informed following the secondary public offering, the SPO volume totaled 102.5 billion Russian rubles.
According to the Bank, as a result of SPO the state’s share in its capital fell from 75.5% to 60.93%. The key shareholders became Bank of New York (14.51%), Norges Bank Investment Management (4.28%), Credit Suisse AG, as the depositary of shares Qatar Holding LLC, (2.95%) and SOFAZ (2.95%)………………………………………..Full Article: Source

Posted on 06 June 2013 by VRS |  Email |Print

By the end of May 2013, the total amount of currency reserves held by the Central Bank of Azerbaijan (CBA) reached $12.572 billion, the bank said in a statement posted on its website.
According to the statement, since the beginning of the year currency reserves have risen by 7.5 percent, or $877.5 million (the Central Bank’s foreign exchange reserves amounted to $11.694 billion in early 2013). Year on year, the level of foreign currency reserves of the Central Bank of Azerbaijan has increased by 15.42 percent, or $1.680 billion………………………………………..Full Article: Source

Posted on 06 June 2013 by VRS |  Email |Print

Norway’s oil fund has purchased a £250m portfolio of suburban warehouses in the U.K. as it moves forward with plans to increase its property assets. The Norwegian Pension Fund Global, the world’s largest sovereign wealth fund, has agreed to buy 11 warehouses used as distribution centers for retailers such as Tesco, Primark and the Co-op, according to the Financial Times.
The warehouses were purchased from LondonMetric, a property group merged between London & Stamford and Metric Property Investments. The industrial space has a total floor area of 2.4 million square feet………………………………………..Full Article: Source

Posted on 06 June 2013 by VRS |  Email |Print

Aubrey McClendon, the controversial former chief executive of Chesapeake Energy, is attempting to stage a comeback by trying to raise $1bn in capital from private equity firms and sovereign wealth funds for his new company.
McClendon has approached several buyout firms and sovereign wealth funds about investing in AEP, said people familiar with his plans. It is not yet clear if any of them has committed capital to the company………………………………………..Full Article: Source

Posted on 06 June 2013 by VRS |  Email |Print

South Korea’s foreign reserves fell last month as the US dollar appreciates, which was caused by expectations for the early end of quantitative easing reduced the conversion value of non-dollar assets, central bank data showed Wednesday.
Foreign reserves were $328.1 billion as of the end of May, down from $328.8 billion in the prior month, according to the Bank of Korea (BOK). The BOK attributed the fall to a slide in the conversion value of non-dollar assets such as the European single currency and the British pound………………………………………..Full Article: Source

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