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Sovereign Wealth Funds Briefing 12.Aug 2013

Posted on 12 August 2013 by VRS |  Email |Print

India’s second largest low-fare airline is in talks with private equity funds, an Oman-based sovereign wealth fund (SWF) and foreign airlines as well as an Indian conglomerate for selling a minority stake to fund its expansion plans. SpiceJet has started fresh rounds of talks, but is yet to finalise any deals, according to a report in an Indian newspaper.
“There are a few Middle-Eastern funds, including Oman Investment Fund, currently talking to the company. In all likelihood, it will be a strategic investor who will do the transaction, with backing from private equity investors,” the Indian paper quoted as saying by a person directly involved in the talks………………………………………..Full Article: Source

Posted on 12 August 2013 by VRS |  Email |Print

The head of the world’s biggest sovereign wealth fund said investing in China hasn’t lost its allure even after economic growth slowed. “We’ve noticed that there has been a change in perception about Chinese growth in the years coming,” Yngve Slyngstad, chief executive officer of the $760 billion Government Pension Fund Global, said in an Aug. 9 interview in Oslo.
“However, the growth that is expected by the authorities is still quite high. We still have confidence that long-term prospects for China are quite good.”……………………………………….Full Article: Source

Posted on 12 August 2013 by VRS |  Email |Print

Norway’s sovereign wealth fund, one of the world’s biggest investors, returned 0.1 percent on its portfolio in the second quarter of 2013, beating its own benchmark index by 0.3 percentage point, it said on Friday.
The fund increased the share of equity holdings to 63.4 percent of its portfolio from 62.4 percent three months ago and cut its ownership of government bonds. “Equity markets were boosted by a strong market in the U.S. and Japan while emerging markets pulled in the other direction,” Yngve Slyngstad, the fund’s chief executive said………………………………………..Full Article: Source

Posted on 12 August 2013 by VRS |  Email |Print

Norway’s sovereign wealth fund, the world’s largest, said it lost 2 percent on its government bond holdings in the second quarter as the value of its Japanese securities and inflation-linked debt declined.
“The rise in yields meant that most fixed-income sectors produced a negative return for the quarter,” the fund said in a statement today. “Uncertainty in fixed-income markets also increased.”……………………………………….Full Article: Source

Posted on 12 August 2013 by VRS |  Email |Print

Second largest sovereign wealth fund in the world exercises shareholder role as part of plans to work more closely with companies. The world’s second largest sovereign wealth fund has taken its first ever steps into active shareholder participation, according to its latest quarterly results.
Norges Bank Investment Management (NBIM), which operates the $750 billion Norwegian Government Pension Fund Global, said it intends to take a more involved role in companies which it has a substantial share of the voting rights………………………………………..Full Article: Source

Posted on 12 August 2013 by VRS |  Email |Print

Norway’s $760 billion oil fund, which disclosed lackluster earnings on Friday, faces a possible shake-up after parliamentary elections this fall, as the center-right opposition clashes with the government on the structure of the world’s biggest sovereign-wealth fund.
The fund, which announced a 0.1% return on its investments in the second quarter, said Friday it was creating an outside advisory board to improve the way it handles its increasing ownership stakes………………………………………..Full Article: Source

Posted on 12 August 2013 by VRS |  Email |Print

Norges Bank Investment Management has reported that the sovereign wealth fund it manages - Norway’s Government Pension Fund Global - made a loss of -1.4% from its fixed income investments in the second quarter of 2013 - although its overall return of 0.1% still earned it NOK17bn (€2.2bn).
Offsetting the losses in fixed income were slight gains from equity investments of 0.9%, and stronger returns from real estate of 3.9%. The fund has only been mandated to branch out into real estate in the past few years - it did not announce its first property acquisition until November 2010………………………………………..Full Article: Source

Posted on 12 August 2013 by VRS |  Email |Print

Yngve Slyngstad, who heads Norway’s huge sovereign wealth fund fueled by the country’s oil revenues, has been ranked as the world’s third most-powerful investor by an international trade organization that follows state investment funds.
He didn’t deliver any stellar second-quarter results on Friday, but his global ranking is just the latest indication of how Norway’s wealth continues to command worldwide attention. Slyngstad, age 50, oversees the investments made by what’s popularly known as Norway’s “oil fund.”……………………………………….Full Article: Source

Posted on 12 August 2013 by VRS |  Email |Print

Norway’s Government Pension Fund Global, the largest sovereign wealth fund in the world, reported a drag in its equity portfolio partly on account of its investments in India.
‘Sorted by country, US and German stocks contributed most to the excess return, while investments in Japan and India made the largest negative contributions…’ said the latest quarterly report of the fund which manages in excess of $700 billion……………………………………….Full Article: Source

Posted on 12 August 2013 by VRS |  Email |Print

The Nigeria Sovereign Investment Authority (NSIA), statutory fund manager for Nigeria’s sovereign wealth fund (SWF) is working out arrangements for a monoline insurance system that will enhance the credit worthiness of investments and the flows of foreign portfolio and direct investments into the country.
Monoline insurance refers to provision of guarantees against defaults in a financial or investment transaction. It makes use of credit wraps to enhance the creditworthiness of an issuer or an investment project. Credit wrap, a form of financial guarantee, specifically insures a stated well-identified part of a transaction, thus the use of multiple credit wraps to cover as many parts of a transaction that may be required………………………………………..Full Article: Source

Posted on 12 August 2013 by VRS |  Email |Print

Mubadala Development Co, the Abu Dhabi sovereign wealth fund, is fighting to avoid losses on its $2bn investment in Eike Batista’s companies as the former billionaire seeks to save his commodity empire from collapse.
The fund is owed $1.5bn after converting a preferred equity investment in Batista’s EBX Group Co into debt, three people with knowledge of the matter said last month. That amount is secured by Batista assets, one of the people said, asking not to be named as details are private. EBX also last month agreed to “redeem” a portion of Mubadala’s original investment………………………………………..Full Article: Source

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