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Sovereign Wealth Funds Briefing 10.Jun 2013

Posted on 10 June 2013 by VRS |  Email |Print

Africa is experiencing the strongest growth in new sovereign wealth funds in the world as the continent’s nations are amassing commodity revenues and foreign-exchange reserves, according to JPMorgan Asset Management Inc.
During the past two years, 15 state funds have been set up or are being considered in Africa, Patrick Thomson, the global head of sovereigns at JPMorgan Asset said. The region will see more starting in the coming years, he added………………………………………..Full Article: Source

Posted on 10 June 2013 by VRS |  Email |Print

Hassad Food Co., the agricultural investment arm of Qatar’s sovereign wealth fund, plans to invest $500 million in India after buying Bush Foods Overseas Ltd.
The investment will be in the production of rice, coffee, cardamom and “ready-made foods,” Chairman Nasser Mohamed Al Hajri told reporters today in Doha. Hassad said on April 3 that it agreed to buy a majority stake in Bush, which owns basmati rice brands Neesa, Himalayan Crown and Indian Star………………………………………..Full Article: Source

Posted on 10 June 2013 by VRS |  Email |Print

Hassad Food Company (HFC) can meet around 60% of Qatar’s total food needs as a result of the massive investments it has made abroad, top officials said. The food produced and procured by the government-owned company comprises meat, poultry, fish, grains, sugar, vegetables, fruits and processed items, company chairman Nasser bin Mohamed al-Fahid al-Hajri said.
“Our company has expanded its global footprint over the last five years. We now have the capacity to provide for 60% of Qatar’s food requirements.” HFC is a wholly-owned subsidiary of Qatar Holding which is one of the operating arms of the Qatar Investment Authority (QIA), the sovereign wealth fund of Qatar………………………………………..Full Article: Source

Posted on 10 June 2013 by VRS |  Email |Print

Qatar Diar, the real estate arm of the Gulf state’s sovereign wealth fund, owns 45 per cent of Barwa. Qatar stepped in with $7.1 billion of financial support for its ailing property firm Barwa Real Estate on Thursday, buying some key assets to help the company reduce its debt pile.
Qatar Diar, the real estate arm of the Gulf state’s sovereign wealth fund, owns 45 per cent of Barwa, according to Reuters data and is stepping in after Barwa notched up liabilities of about 37 billion riyals ($10.16 billion) at the end of 2012 due to overexpansion. Its profit plunged 46 per cent in the first quarter………………………………………..Full Article: Source

Posted on 10 June 2013 by VRS |  Email |Print

China’s sovereign wealth fund, China Investment Corp (CIC), said its return on overseas investment swung to around 11 percent in 2012 from a loss in 2011, in part due to its diversified investment portfolio.
Gao Xiqing, vice-president of CIC, was quoted by the official Xinhua News Agency as saying that the total assets of the fund have increased to $500 billion from $482 billion in 2011, 40 percent of which are invested overseas. “The investment return in the past five years has surpassed previous expectations a little bit, but not that much,” Gao was quoted as saying……………………………………….Full Article: Source

Posted on 10 June 2013 by VRS |  Email |Print

China Investment Corp., the nation’s $482 billion sovereign wealth fund, has met the government’s expectations by delivering 5 percent annualized returns in the five years since its creation, the official Xinhua News Agency reported, citing the fund’s president.
CIC, which is seeking a new chairman after Lou Jiwei was named China’s finance minister in March, achieved an 11 percent investment return on its overseas portfolio last year, compared with a loss of 4.3 percent in 2011 , Gao Xiqing, also a vice chairman of the fund, said according to Xinhua……………………………………….Full Article: Source

Posted on 10 June 2013 by VRS |  Email |Print

Khazanah Nasional Bhd has confirmed that Tan Sri Halim Saad was indeed suing it, confirming a StarBiz report earlier. In a short statement released yesterday, the sovereign wealth fund said it had received a Writ of Summons and Statement of Claim from the legal representatives of Halim.
“We believe that we have a strong defence to the claim, and shall be taking all measures necessary to vigorously defend it in order to protect our interest,” it said………………………………………..Full Article: Source

Posted on 10 June 2013 by VRS |  Email |Print

The New Zealand Superannuation Fund has excluded a group of companies from its $22 billion investment portfolio because of their work with nuclear weapons. Publicly listed companies Babcock & Wilcox, Fluor Corporation, Huntington Ingalls Industries, Jacobs Engineering Group, Serco Group and URS Corporation, have been excluded under the fund’s Responsible Investment Policy.
Private company Bechtel Group, which the fund does not have holdings in, will also be excluded. Lockheed Martin, the publicly-listed weapons maker, was previously excluded on the same grounds………………………………………..Full Article: Source

Posted on 10 June 2013 by VRS |  Email |Print

Norway’s sovereign wealth fund is heading a list of investors vying for Blackstone’s 50 per cent share of Broadgate, the vast City of London office and retail complex, in what would be one of the largest UK property deals since the financial crisis.
Norway’s $740bn sovereign wealth fund, the world’s largest, has opened talks with the private equity group over the estate, according to people familiar with the situation. Other interested parties include the Canadian developer Brookfield and Rreef, the property investment arm of Deutsche Bank………………………………………..Full Article: Source

Posted on 10 June 2013 by VRS |  Email |Print

Does David Cameron have the guts to take George Osborne aside and have a conversation? Not *that* conversation. It’s too late for the “would you consider a different role?” chat. It’s seven-and-a-half years into Project Cameroon and the pair are roped together.
The Government really should opt for a national sovereign wealth fund as a home for the coming shale gas windfall. Andrew Wilson, an economist and former SNP member of the Scottish Parliament has made the case much better that I can in a piece for The Daily Telegraph today. His piece even includes lots of figures……………………………………….Full Article: Source

Posted on 10 June 2013 by VRS |  Email |Print

The valuation gap between trophy property assets, such as offices and shopping centres in major capitals, and less glamorous out-of-town secondary property is starting to narrow as institutional investors broaden their sights in search of better returns and less overheated prices.
Sovereign wealth funds are contributing to the shift. Last week Norway’s $720bn oil wealth fund, run by Norges Bank Investment Management, snapped up a £250m portfolio of UK suburban warehouses, used as retail distribution centres. “Sovereign wealth funds and pension funds are looking around for something other than prime retail and getting into industrial property assets such as warehouses, which look appealing,” says Philip Marsden, director of European capital markets at Jones Lang LaSalle. ……………………………………….Full Article: Source

Posted on 10 June 2013 by VRS |  Email |Print

A consortium led by a Kuwaiti sovereign wealth fund and two pension companies raised its proposed offer for Severn Trent to $8.2-billion (U.S.) on Friday, sending the British water utility’s share price up by as much as 9 per cent.
LongRiver Partners comprising the Kuwait Investment Office, Britain’s Universities Superannuation Scheme and Borealis Infrastructure, which is part of Canadian pension fund Ontario Municipal Employees Retirement System, submitted a conditional cash offer of 2,200 pence for each Severn Trent share to the company’s board………………………………………..Full Article: Source

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