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Sovereign Wealth Funds Briefing 05.Aug 2013

Posted on 05 August 2013 by VRS |  Email |Print

Norway needs to review its $740 billion sovereign wealth fund to find a more competitive model that will boost returns, according to the head of the opposition bloc leading in polls ahead of elections next month.
The investments “might be too big to be handled by just one fund,” Erna Solberg, leader of the Conservative Party and the candidate most polls show will oust Labor leader Jens Stoltenberg to become prime minister after Sept. 9 elections, said in an interview in Oslo. “You could split it either on getting different handlers to compete better, or have different objectives for your investments in different funds. We’re going to explore it, develop and see if it’s a good idea.”……………………………………….Full Article: Source

Posted on 05 August 2013 by VRS |  Email |Print

Singapore sovereign wealth fund GIC, the single biggest shareholder of UBS, said it believes the western banking industry is healing and it has the capacity to invest more in the financial sector.
GIC Private Ltd, which holds a 6.45 percent stake in UBS AG along with a minority stake in Citigroup, said both banks have seen an improvement in their profits and it is happy with the shift the banks have made to their business models………………………………………..Full Article: Source

Posted on 05 August 2013 by VRS |  Email |Print

GIC has reported a 20-year annualised real return of four per cent last year, compared to 3.9 per cent in the previous year. These are returns on the foreign reserves of the Singapore government.
Investment analytics firm HedgeSpa estimates that the GIC policy portfolio returned 14 per cent in the fiscal year ended March 2013 — that is on par with the 13.4 per cent return made by Norway’s Government Pension Fund, the world’s largest sovereign wealth fund. Starting from April 2013, GIC has also implemented a new investment framework to manage its portfolio………………………………………..Full Article: Source

Posted on 05 August 2013 by VRS |  Email |Print

Singapore’s sovereign wealth fund has outperformed some of the biggest U.S. college endowment funds in the past decade, but it thinks improving returns from alternative assets will be a boon to colleges. In its annual report released Friday, Government of Singapore Investment Corp., which has about $250 billion of assets under management, laid out its returns for the past decade.
It posted a nominal rate of return, in dollar terms, of 8.8% over ten years for the period ended Mar. 31 2013. That compares to the 6.2% returned on average by college endowments for the period ended June 2012, according to the National Association of College and University Business Officers (Nacubo)………………………………………..Full Article: Source

Posted on 05 August 2013 by VRS |  Email |Print

GIC Pte, manager of more than $100 billion of Singapore’s reserves, is changing its investment strategy for the second time in three decades to be more flexible as the global outlook becomes “complicated.”
GIC will split its portfolio into one that’s actively managed, and another that tracks the overall market, it said as its annual report showed returns were little changed. The company didn’t say how much of the assets will be managed or indexed against the market………………………………………..Full Article: Source

Posted on 05 August 2013 by VRS |  Email |Print

The Singapore sovereign wealth fund has for the first time given details of its new investment process. GIC outlines revised investment approach Lim Chow Kiat oversees the newly adopted portfolio strategy.
The Government of Singapore Investment Corporation (GIC) has adopted a more flexible and streamlined method of portfolio management, after only the second overhaul of its investment approach since the fund’s inception in 1981. The sovereign wealth fund, with an estimated $200 billion-plus in assets, implemented the new approach in April and set out in detail last week for the first time how it will work………………………………………..Full Article: Source

Posted on 05 August 2013 by VRS |  Email |Print

Singapore sovereign-wealth fund GIC Pvt. Ltd. said it is preparing for volatile markets in the coming year, in particular the risk of a slowdown in China, and that it will use the opportunity to boost its exposure to stocks.
The fund that manages Singapore’s foreign-exchange reserves said in its annual report for the fiscal year ended March 31 that while the global economy is faced with challenges, GIC is more bullish on the U.S. and sees it as a major destination for its investments………………………………………..Full Article: Source

Posted on 05 August 2013 by VRS |  Email |Print

The Nigeria Sovereign Wealth Fund Authority (NSIA) has officially allocated the $1 billion take-off grant into three sectoral areas. The three areas are stabilisation fund, which got $200 million or 20 per cent allocated to it; infrastructure fund, $325million or 32.3 per cent and the future generation fund, $325 million or 32.5 per cent, while the balance of $150 million or 15 per cent will be kept to be used to top up each of the ring funds as opportunity arises.
The Minister of Finance and Coordinating Minister of the Economy, Dr Ngozi Okonjo-Iweala, disclosed this on Thursday in Abuja while paying an assessment visit to the NSIA headquarters, the custodian of the Sovereign Wealth Fund………………………………………..Full Article: Source

Posted on 05 August 2013 by VRS |  Email |Print

Real estate investment company Unitech Corporate Parks has shortlisted two global private equity funds, a sovereign wealth fund of Singapore and a Canadian pension fund to make second round of bids for its 3.6 million sq ft IT special economic zone in Gurgaon near Delhi.
A person close to the development said the company has invited London-based Xander, New York-headquartered Blackstone, Singapore’s GIC and the Canadian Pension Fund for the second round of bidding………………………………………..Full Article: Source

Posted on 05 August 2013 by VRS |  Email |Print

Sovereign wealth funds (SWFs) are increasing their exposure to direct investments in real assets, according to data from the Sovereign Wealth Fund Institute. In the last half of 2012, $600 billion worth of transactions were made by SWFs, with European and US commercial property among the most popular purchases. The report also found the push towards direct investment had been driven by the trend of bringing investment decisions in-house.
Bringing assets in-house has become more popular in 2012 and 2013. In May, the Abu Dhabi Investment Authority (ADIA) brought five percentage points of its considerable assets under its internal investment team, resulting in 25% of its assets now being managed internally, up from 20% a year earlier………………………………………..Full Article: Source

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