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Sovereign Wealth Funds Briefing 20.Aug 2013

Posted on 20 August 2013 by VRS |  Email |Print

Sovereign wealth funds including Nigeria’s will increase their assets by 60 percent over the next three years, bolstered by rising income from commodities and exports, according to UBS.
State funds will manage about $8.6 trillion in 2016, up from $5.3 trillion now, according to Massimiliano Castelli, head of strategy at Global Sovereign Markets, the unit of UBS Global Asset Management that services sovereign institutions worldwide. Sovereign investors will also add more assets in emerging markets and cut holdings denominated in currencies such as the euro and the Japanese yen, he said………………………………………..Full Article: Source

Posted on 20 August 2013 by VRS |  Email |Print

Blackstone Group LP, the biggest manager of private-equity real estate funds, agreed to sell its 50 percent stake in London’s Broadgate office complex for more than 1.7 billion pounds ($2.66 billion), according to two people with knowledge of the deal.
A sovereign-wealth fund is under contract to acquire the interest, said the people, who asked not to be identified because the transaction is private. Norway’s government-wealth fund, which had been in talks to buy the stake, isn’t the purchaser, one of the people said, declining to identify the buyer………………………………………..Full Article: Source

Posted on 20 August 2013 by VRS |  Email |Print

Abu Dhabi is believed to be behind a $800m deal to buy three hotels from Marriott International, it was reported. The three hotels, which are currently under construction in London, Florida and New York, are being developed under Marriott’s boutique Edition brand.
While the buyer was not disclosed, the Wall Street Journal linked the Abu Dhabi Investment Authority to the deal. A spokesperson from the sovereign wealth fund declined to comment on the reports………………………………………..Full Article: Source

Posted on 20 August 2013 by VRS |  Email |Print

Self-managed superannuation fund (SMSF) contributions fell by $12,300 the 2012-13 financial year, according to the Multiport SMSF Investment Patterns Survey June 2013. Multiport, an SMSF administrator and subsidiary of AMP, surveyed 1,950 of its client SMSFs. It found that the average contribution in FY 2013 was $35,200, compared with $47,500 in FY 2012.
“This significant decline is most likely the result of the reduction in the concessional contribution cap, with a cap of $25,000 now applying to members of all ages during the 2013 financial year,” the report stated………………………………………..Full Article: Source

Posted on 20 August 2013 by VRS |  Email |Print

As customary with New Zealand Superannuation Fund (NZS) publications, its latest ‘Statement of intent’ is jam-packed full of information. And despite the inevitable technical jargon clogging up its sentence flow on occasion, the NZS ‘Statement of intent’ should be intelligible to the lay reader.
To aid the understanding of any newcomer to this sub-genre of financial literature, the NZS has included dinky break-out boxes covering topics such as “what is passive management “and “what is a counterparty”………………………………………..Full Article: Source

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