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Sovereign Wealth Funds Briefing 15.Jul 2013

Posted on 15 July 2013 by VRS |  Email |Print

Sovereign wealth funds (SWFs) have made progress in improving their accountability and transparency over the last five years, but more can and should be done. That’s the assessment of Dr. Edwin M. (Ted) Truman, a senior fellow at the Peterson Institute for International Economics and former senior Treasury and Federal Reserve official.
Truman’s pioneering work on SWF best practices helped shape the dialogue that preceded a working group of 23 countries endorsing voluntary guidelines for SWF operations, the Santiago Principles, in October 2008. In a recent interview with this blog, Truman shared his appraisal of SWF performance in advance of the anticipated release this summer of a survey of member practices by the International Forum on Sovereign Wealth Funds, as the original working group is now called………………………………………..Full Article: Source

Posted on 15 July 2013 by VRS |  Email |Print

Since oil production started in earnest in Norway in 1971, Norwegians were called by some as the “blue eyed Arabs” and even recently, The Economist said on February 2, 2013 that fellow Nordic countries refer to Norway as the “most northerly Arab country.”
The Petroleum Fund changed its name in 2006 to the ‘Government Pension Fund — Global’. It has nothing to do with ordinary pension contributions and is to be distinguished from the much smaller ‘Government Pension Fund — Norway’, which was formerly The National Insurance Scheme Fund, and pension fund allowed to invest only domestically………………………………………..Full Article: Source

Posted on 15 July 2013 by VRS |  Email |Print

Abu Dhabi Investment Authority (ADIA) plans to invest about $200 million in Indian real estate, two sources said, underscoring a trend for large Gulf sovereign wealth funds to diversify away from traditional developed markets such as Europe. ADIA, which manages the surpluses the Gulf emirate earns from oil exports, has appointed Kotak Realty Fund, run by Kotak Mahindra Bank Ltd, to invest the money, one of the sources familiar with the matter said.
Earlier this month, Oman’s State General Reserve Fund and the Government of Singapore Investment Corp (GIC) and Temasek committed to invest $200 million in a real estate fund run by India’s biggest mortgage lender, Housing Development Finance Corporation………………………………………..Full Article: Source

Posted on 15 July 2013 by VRS |  Email |Print

Britain will start selling its shares in Lloyds Banking Group to pension funds and insurers later this year, rejecting interest from private equity and sovereign wealth funds, industry and political sources said.
The government could sell up to a quarter of its 39 percent stake as early as September, the sources said, especially if the bank’s first-half results, due in August, are well received………………………………………..Full Article: Source

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