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Sovereign Wealth Funds Briefing 11.Sep 2013

Posted on 11 September 2013 by VRS |  Email |Print

Norway’s incoming centre-right government plans to revamp and possibly break up the country’s $750-billion oil fund, changing how one of the world’s biggest investors spends its money.
The Conservatives and the populist Progress Party, who are likely to share power after Monday’s poll, are considering splitting it into two or more, possibly competing, funds. They may also allow foreign private equity and infrastructure investment to create a more diversified, and hopefully profitable, portfolio………………………………………..Full Article: Source

Posted on 11 September 2013 by VRS |  Email |Print

Norway’s just concluded general election is likely to lead to a Conservative Party led coalition, with concerns raised about a possibly change in policy regarding the country’s giant sovereign wealth fund.
The Pension Fund Global, funded by the country’s oil and gas sector, is worth some NOK4.55trn (€577bn) according to the calculator visible on the website of Norgest Bank Investment Management, the manager of the fund, which answers to the country’s finance ministry and Parliament. Other calculations estimate that the fund owns the equivalent of more than 1% of every listed company in the world………………………………………..Full Article: Source

Posted on 11 September 2013 by VRS |  Email |Print

While the rest of us are fishing for quarters down the back of the couch, lucky Norway is sitting on a nest egg so massive they dare not spend it lest the country’s economy boil over. Thanks to their possession of a shirtload of oil, the country holds the world’s largest sovereign wealth fund, worth $750 billion.
The government of Norway can spend just four percent a year (the fund’s estimated return) on providing its people with pretty much everything they would ever need and, although things could change under a newly elected government, the rest is carefully unutilized………………………………………..Full Article: Source

Posted on 11 September 2013 by VRS |  Email |Print

Investments from oil savings in country’s economy will be carried out in Kazakhstan in 2014-2016, Kazakhstan’s Minister of Economy and Budget Planning Erbolat Dosayev said on Tuesday.
“The guaranteed transfer from the National Fund will amount to 1,380 billion tenges per year. Also target transfer worth 150 billion tenges will be attracted from the National Fund in 2014,” the Minister said………………………………………..Full Article: Source

Posted on 11 September 2013 by VRS |  Email |Print

Alaska’s sovereign wealth fund is to plough hundreds of millions of pounds into a new oil investment vehicle that will provide the platform for a return to the London stock market for Lord Browne, the former BP chief.
Sky News has learnt that the Alaska Permanent Fund Corporation , which invests on behalf of the state’s citizens, has signed up as a cornerstone investor in Riverstone Holdings, a listed holding company that will invest in renewable energy assets around the world………………………………………..Full Article: Source

Posted on 11 September 2013 by VRS |  Email |Print

As the Nigeria Sovereign Investment Authority (NSIA) works towards implementing the Sovereign Wealth Fund (SWF), a report has said the initial $1 billion seed capital for the fund is too small, relative to other oil producing countries with such initiative.
A peer review of the ratio of daily oil production to the size of the SWF for each of the petrodollar countries, suggested that the amount set aside for the fund by the federal government was very minimal………………………………………..Full Article: Source

Posted on 11 September 2013 by VRS |  Email |Print

Abu Dhabi Investment Authority, one of the world’s biggest sovereign wealth funds, bought Australia’s largest owner of hotels, Tourism Asset Holdings Ltd., gaining ownership of 31 properties in major cities.
A subsidiary of the Abu Dhabi fund has signed a conditional contract to buy the closely held hotel owner, the Sydney-based company said in an e-mailed statement without disclosing a value. The hotels will continue to be operated by Paris-based Accor SA (AC), Tourism Asset Holdings said………………………………………..Full Article: Source

Posted on 11 September 2013 by VRS |  Email |Print

The Eike Batista saga continues. Abu Dhabi-based Mubadala Development Co. invested in Batista’s commodity empire. The Gulf sovereign wealth fund has partnered with Amsterdam-based commodities trader Trafigura Beheer BV to buy a majority stake in a company that owns a major Brazilian iron-ore port.
The two investors won over Glencore Xstrata Plc in the port deal. In August 2013, Brazilian steel producer Gerdau S.A. stated they were not interested in the Sudeste Superport………………………………………..Full Article: Source

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