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Sovereign Wealth Funds Briefing 03.Sep 2013

Posted on 03 September 2013 by VRS |  Email |Print

Qatar’s sovereign wealth fund, one of the world’s most aggressive investors, is hiring senior bankers and industry executives to lessen the fund’s reliance on Europe and diversify its investment portfolio, sources familiar with the plan said.
Under newly-appointed Chief Executive Ahmed Al-Sayed, the $100 billion-plus sovereign fund is scouting for opportunities in Asia and the United States. The hiring reflects a long-term objective of geographically balancing a portfolio which is now nearly 80 percent exposed to Europe, the sources said………………………………………..Full Article: Source

Posted on 03 September 2013 by VRS |  Email |Print

Bahrain sovereign fund Mumtalakat said on Monday it had signed a $250 million loan to help refinance part of a larger five-year facility.
The revolving credit facility covers about half of a $500 million five-year loan which the fund had signed in August 2008. The other half had been partly repaid and partly refinanced over the past two years, the fund said in a statement. The loan forms part of Mumtalakat’s overall financing and funding strategy, Mahmood Al Kooheji, CEO of Mumtalakat, said in the statement………………………………………..Full Article: Source

Posted on 03 September 2013 by VRS |  Email |Print

The Deputy Governor of the Central Bank of Libya announced the Libyan Investment Authority has made a profit of $2-2.25 billion in the first half of 2013. It was established as a sovereign fund aimed to develop excess revenues from oil sales. In 2010, the LIA valued it’s own investment portfolio at $64 billion.
It is also believed profits of around $10 billion is often “missed” due to poor management since it was founded in 2006………………………………………..Full Article: Source

Posted on 03 September 2013 by VRS |  Email |Print

Future Fund managing director Mark Burgess says investors need to review their risk appetite after booming investment returns added nearly $12 billion to the coffers of the fund and helped it register returns above its benchmark for the first time since it was founded in 2006.
The fund rode a surge in bond prices fuelled by government bond buying and stronger equity markets that were bid up by yield-hungry investors to increase its total funds from $77bn a year ago to $88.89bn at the end of June………………………………………..Full Article: Source

Posted on 03 September 2013 by VRS |  Email |Print

For the first time over a full financial year, after generating a return of 15.4 per cent in the year to June, the Future Fund‘s performance has exceeded its mandated targets. The 2012-13 performance of the fund is exceptional, given that a key objective of the fund is to protect its capital and therefore there is a defensive skew to its investment strategies.
With no access to external cash flows (because there have been no federal budget surpluses under the Rudd-Gillard-Rudd governments) and about 70 per cent of its assets offshore and 72 per cent of those exposures hedged, the fund needs to remain both defensive and liquid. When the Australian dollar falls — as it has, heavily, this year — the fund has to inject substantial amounts of cash into its positions………………………………………..Full Article: Source

Posted on 03 September 2013 by VRS |  Email |Print

Azerbaijan’s state oil fund SOFAZ has already invested about 70 million manats in the construction of a new generation floating drilling rig in Azerbaijan, SOFAZ head Shahmar Movsumov said. Some 388.575 million manats are envisaged to be allocated from SOFAZ under the project.
The construction of the new generation drilling rig to be built for SOCAR’s needs is due to start by late 2013. The cost of the new floating drilling rig together with the taxes will amount to more than $1 billion………………………………………..Full Article: Source

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