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Sovereign Wealth Funds Briefing 14.Aug 2013

Posted on 14 August 2013 by VRS |  Email |Print

Russia may expand the list of assets where it may invest state cash by adding new positions to National Welfare Fund (NWF) investments, draft proposals published by the Finance Ministry showed on Tuesday.
The fund, which stood at 2.86 trillion roubles ($86.7 billion) as of Aug. 1, may already be invested in euros, U.S. dollars, pounds or the treasury bonds of 13 countries, including the United States, Canada, European Union………………………………………..Full Article: Source

Posted on 14 August 2013 by VRS |  Email |Print

The Russian Direct Investment Fund might join forces with two of the world’s major sovereign funds to help finance construction of the Central Ring Road around Moscow, as the government is seeking to save the budget funds by wooing private investors.
The RDIF — which is the Kremlin’s investment vehicle aimed at attracting foreign investors — could provide up to 60 billion rubles ($1.8 billion) for the project, with the sovereign funds being committed to participate, the RDIF’s chief executive Kirill Dmitriev said………………………………………..Full Article: Source

Posted on 14 August 2013 by VRS |  Email |Print

Mubadala Development Co., the Abu Dhabi sovereign-wealth fund, is in talks to buy some of the assets of former Brazilian billionaire Eike Batista for about $1 billion, two people with direct knowledge of the matter said.
The negotiations are for stakes in oil producer OGX Petroleo (OGXP3) & Gas Participacoes SA, MMX Mineracao & Metalicos SA and LLX Logistica SA (LLXL3)’s Acu port in Rio de Janeiro state, said the people, who asked not to be identified because the discussions are private. Mubadala is seeking international or local companies as partners on the deal, the people said………………………………………..Full Article: Source

Posted on 14 August 2013 by VRS |  Email |Print

Mubadala Development Corporation, Abu Dhabi’s sovereign wealth fund, is in talks to buy up $1 billion worth of assets from former Brazilian billionaire Eike Batista’s commodities and logistics empire, Bloomberg reports.
Batista took a $2 billion loan from the fund back in March of 2012 in exchange for 5.63 percent preferred equity interest in EBX — Batista’s holding company. At that time, EBX, which houses six companies under its umbrella, was valued at $35.5 billion………………………………………..Full Article: Source

Posted on 14 August 2013 by VRS |  Email |Print

Carlyle Group, the US private-equity firm in which Abu Dhabi’s Mubadala Development Company owns a 7.5 percent stake, has agreed to sell aerospace communications firm Arinc for $1.39bn to Rockwell Collins, a supplier of avionics and other electronic systems for commercial and military aircraft.
The transaction will combine Arinc’s networks and services with Rockwell’s avionics and cabin technologies to benefit from the growing field of aviation information management, Rockwell said in a statement………………………………………..Full Article: Source

Posted on 14 August 2013 by VRS |  Email |Print

High oil prices and poor returns on safe assets have pushed the GCC’s huge sovereign wealth funds into riskier investments in recent years, a report from Moody’s Investors Service says.
The Abu Dhabi Investment Authority, which Moody’s estimates to hold $397 billion of assets, slightly lowered its target allocation to developed markets in an annual review in May. It also reinforced its commitment to emerging markets, which some analysts say signaled a growing taste for risk. “Over the past few years, several SWFs have modified their allocations to favor riskier investments,” the Moody’s report says, adding that the riskier plays “include direct investments and a shift from developed to emerging markets.”……………………………………….Full Article: Source

Posted on 14 August 2013 by VRS |  Email |Print

Saudi Arabia ranks top in the volume of assets of sovereign wealth funds (SWFs) among the GCC countries at $641 billion, a report said quoting Moody’s Investors Service.
The kingdom is followed by the United Arab Emirates at $397 billion, Kuwait with $395 billion; Qatar with $175 billion; Oman with $14 billion and Bahrain $11 billion, according to the report published in the Arab News. The assets of GCC SWFs have grown alongside the rise in oil prices since the 2009, the report said………………………………………..Full Article: Source

Posted on 14 August 2013 by VRS |  Email |Print

Endowed with immense oil wealth, Norway’s gigantic sovereign wealth fund is a major owner of public stocks. Being a prominent owner of European equities, the sovereign fund has gradually increased their clout in corporate governance. In the second quarter of 2013, the sovereign fund voted in 6,078 general meetings as well as 239 shareholder proposals on environmental and social issues.
Norway’s Government Pension Fund Global (GPFG) has the potential to greatly influence the corporate governance market in Europe – possibly China as well. China is an investment market in which the GPFG wants to allocate more to………………………………………..Full Article: Source

Posted on 14 August 2013 by VRS |  Email |Print

Norway’s sovereign wealth fund, the world’s largest, should split off $200 billion and invest in private equity and infrastructure in emerging countries by 2020 to reach its return target, a former strategy adviser for Norway said.
By betting on “slow-growing mature economies,” Norway’s $760 billion fund has exposed itself to long-term risk “for very little return,” Sony Kapoor, managing director of public-policy research group Re-Define, said in a report……………………………………….Full Article: Source

Posted on 14 August 2013 by VRS |  Email |Print

Unhedged foreign currency exposure may be the way to go for super funds after a fall in the Australian dollar contributed 8.8% to unhedged portfolios in the last financial year.
This bucks the trend of recent years. According to the NAB Superannuation FX Survey, released yesterday, fully hedged exposure to foreign equities has brought considerably higher returns over the last 10 years, adding 25%………………………………………..Full Article: Source

Posted on 14 August 2013 by VRS |  Email |Print

Mexico’s foreign reserves have risen by $5.81 billion to nearly $169.33 billion this year, with all figures as of Aug. 9, the Bank of Mexico said Tuesday.
Gold and foreign currency reserves rose by $277 million in the week of Aug. 5-9, the central bank said. The money supply fell by 7.41 billion pesos (about $580 million) to 769.58 billion pesos ($60.26 billion) last week………………………………………..Full Article: Source

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