Thu, Aug 21, 2014
A A A
Welcome sandeep.kottawar@wns.com
RSS
Sovereign Wealth Funds Briefing 09.Sep 2013

Posted on 09 September 2013 by VRS |  Email |Print

Uche Orji, the Harvard-trained head of Nigeria’s sovereign wealth fund, said he’s worried about rising stock prices as he prepares to hand over the next tranche of the fund’s $1 billion of holdings to external fund managers.
“A lot of asset classes are richly valued frankly,” Orji, a former Goldman Sachs Inc banker and chief executive officer of the Abuja-based Nigerian Sovereign Investment Authority, said in an Sept. 5 interview. “There’s still a lot I’m not comfortable with in developed market equities. I’m not going to try and be a hero and catch a falling knife with people’s money.”……………………………………….Full Article: Source

Posted on 09 September 2013 by VRS |  Email |Print

The Sovereign Wealth Fund is a kind of project that not many people understood its purpose. It would be good to start from the main purpose of the fund. But first, let me highlight the nature of governance we have n Nigeria. We are a federation and we put all revenue that comes to the country, either in the form of tax, customs or any form, the surplus into this Sovereign Wealth Fund, which the federal and state governments contribute to.
In effect, this money does not belong to the federal government alone. Because of that, the federal has very limited authority over the fund because 37governments contribute to it. This raises a lot of constitutional problems………………………………………..Full Article: Source

Posted on 09 September 2013 by VRS |  Email |Print

Mozambique’s Ministry of Mineral Resources is skeptical about the establishment of a Sovereign Wealth Fund, at least in the short term, and believes there are more pressing uses for the money obtained from the country’s vast reserves of natural gas.
The Mozambican Tax Authority (AT) has mentioned a Sovereign Wealth Fund as one possible destination for the large sums of money raised from capital gains tax on transactions involving the country’s mineral resources. For example, the sale of shares in the Rovuma Basin Area Four, where much of the recent gas discoveries have been made, netted the Mozambican government 400 million US dollars in capital gains tax………………………………………..Full Article: Source

Posted on 09 September 2013 by VRS |  Email |Print

The Prime Minister’s Office would discuss modalities with key economic ministries to meet the pre-conditions set by the United Arab Emirates, Kuwait, Qatar and Saudi Arabia for parking part of their sovereign wealth funds (SWF) as foreign direct investments (FDI) in the country.
The UAE has the largest SWF at $750 billion but scrutiny by Indian agencies in investments by telecom firm Etisalat and real estate developer Emaar has become “a sore point” for future commitment………………………………………..Full Article: Source

Posted on 09 September 2013 by VRS |  Email |Print

Hong Kong Monetary Authority boss Norman Chan is a worried man. On Friday he warned that Hong Kong’s financial markets will suffer heightened volatility when the US Federal Reserve begins to scale back, or taper, its current programme of quantitative monetary easing.
Some HK$100 billion in liquidity has flowed into the city’s banking system since the outbreak of the 2008 financial crisis, Chan said. When the US monetary cycle turns, that money will “inevitably” begin to flow out again, putting pressure on local asset prices………………………………………..Full Article: Source

Posted on 09 September 2013 by VRS |  Email |Print

Khalid Alsweilem, former chief counselor and director general of investment at Saudi Arabian Monetary Agency (SAMA), has been appointed a non-resident fellow at Harvard Kennedy School’s Belfer Center for Science and International Affairs. At the Belfer Center, Alsweilem will focus on the study of sovereign wealth funds, with a particular focus on Saudi Arabia’s reserve sovereign funds and their linkages to the real economy.
Belfer Center Executive Director for Research Gary Samore said Alsweilem would bring to the center a wealth of experience and insight into emerging markets, sovereign funds investments and economic policy, and important issues relating to oil and energy………………………………………..Full Article: Source

Posted on 09 September 2013 by VRS |  Email |Print

Scotland plans to form an oil fund from the oil revenues collected by the government. This fund will be similar to an oil fund set up by Norway in 1990, which is worth USD 450 billion and is the largest sovereign wealth fund in the world.
Many other oil funds have been created by companies with major oil and gas reserves in order to hedge against change in oil prices and to reinvest for further development of hydrocarbon resources. In recent years, new oil funds have been established. Of the thirty-six commodity based funds monitored by the Sovereign Wealth Fund Institute, twenty-three were created after 2000………………………………………..Full Article: Source

See more articles in the archive

August 2014
M T W T F S S
« Jul    
 123
45678910
11121314151617
18192021222324
25262728293031