Sun, Sep 21, 2014
A A A
Welcome sandeep.kottawar@wns.com
RSS
Sovereign Wealth Funds Briefing 18.Sep 2013

Posted on 18 September 2013 by VRS |  Email |Print

In contrast to the conventional sovereign wealth fund (SWF) traditionally floated by rich economies, India is looking at floating a new company — the India Overseas Investment Corp Ltd (INOIC) — that will invest in the ownership of natural resources assets overseas to create long-term resource security without drawing on the forex reserves that will continue to be managed by the Reserve Bank of India.
“INOIC will not be India’s SWF in the conventional sense but will be a development finance institution with the specific mandate to provide equity and debt to Indian public sector enterprises (PSEs) for securing natural resources abroad,” said a senior government official associated with the process………………………………………..Full Article: Source

Posted on 18 September 2013 by VRS |  Email |Print

There are reports that the Prime Minister’s office (PMO) is driving the setting up of a company — India Overseas Investment Corporation (INOIC) — under the finance ministry on the lines of a sovereign wealth funds elsewhere in the world.
The idea, no doubt, is to discover some financial muscle for access to overseas natural resources.If we’re happy with a cut-copy-paste “me-too” of what Norway, Russia, China, South Korea, Singapore, Malaysia, Brunei, Qatar and UAE have done to push overseas acquisitions and business through such funds., the concept note quoted. The note, in fact, is to the credit of PM’s principal secretary Pulok Chatterjee for emphasising the need to secure access to raw materials, “wherever they were available” and commissioning a blueprint of an overarching institutional mechanism for such investments………………………………………..Full Article: Source

Posted on 18 September 2013 by VRS |  Email |Print

The government is reportedly setting up a sovereign wealth fund to garner natural resources abroad. The move makes perfect sense, as it would allow sourcing the commodities at cost price rather than the going, often steep, market rates.
Which is why, the idea of a ready corpus to acquire stakes in hydrocarbon and fertiliser-feedstock assets overseas can no longer be set aside, given our energy constraints and the lack of domestic resources for plant nutrients. It pays to be forward looking………………………………………..Full Article: Source

Posted on 18 September 2013 by VRS |  Email |Print

The government may put up its own sovereign wealth fund as a vehicle for investing in the private sector overseas as part of efforts to put the country’s foreign exchange income to better use. Bangko Sentral ng Pilipinas Governor Amando Tetangco Jr. said there was enough foreign exchange liquidity locally to put up a sovereign fund.
“It’s a concept that can be pursued. Sovereign wealth funds can invest in different asset classes and even (government) projects abroad,” Tetangcosaid………………………………………..Full Article: Source

Posted on 18 September 2013 by VRS |  Email |Print

High frequency traders, who use computers to trade markets in milliseconds, are a favourite target for grumbles from big, long-term investors like pension funds. So the verdict of Norway’s giant government pension fund on what HFTs do to markets makes intriguing reading.
The $770 billion fund, financed by the Nordic nation’s oil wealth, is one of the world’s biggest single investors of any kind. By its own estimates, it owns about 1.3% of the global equity market………………………………………..Full Article: Source

Posted on 18 September 2013 by VRS |  Email |Print

High frequency trading is becoming a controversial topic as exchange glitches and market mishaps become more and more frequent, as such it is worth paying attention when Norway’s nearly $800 billion sovereign wealth fund discusses the pros and cons of the issue.
Norges Bank Investment Management, the division responsible for overseeing the pension fund, recently released a paper detailing how a large, long-term investor such as itself is affected by the evolution of markets and the rise of high frequency trading………………………………………..Full Article: Source

Posted on 18 September 2013 by VRS |  Email |Print

Sovereign wealth funds, infrastructure funds and public pensions have been investors of power grids and other energy infrastructure assets in Europe. As of July 31, 2013, the Finnish State controls 50.8% of Finnish utility Fortum. Fortum is publicly traded on the Helsinki Stock Exchange.
The power generation and electricity distribution are highly fragmented in the Nordic power market. Good for energy consumers, this eats at the profit margins of many utilities. In addition, several European energy providers are seeking to offload networks and shed debt. This cleansing of the balance sheet allows utilities to focus on power generation and renewable energy………………………………………..Full Article: Source

Posted on 18 September 2013 by VRS |  Email |Print

Libyan Central Bank Governor Saddek Omar Ali Elkaber said that he would not be using any of the cash or assets held by Libya’s US$ 65 billion sovereign wealth fund to offset a plunge in oil production in recent months.
Governor Elkaber characterized the idea of fund raiding as “wrong” saying that internal struggles (like protests) should not be a reason to dip into the country’s large reserves. He indicated that a drop in global oil prices might be a stronger reason to do so. However, he made it clear that Libya is a long-term institutional investor, and that they would not be liquidating assets anytime soon………………………………………..Full Article: Source

Posted on 18 September 2013 by VRS |  Email |Print

The Nigerian Sovereign Wealth Fund (SWF) has invested $200 million, via its management partners, in the US bond market. The $200 million is the 20 percent stabilization fund set aside from the $1 billion wealth fund, to be used for foreign financial market investment. This led to the appointed UBS, Credit Suisse and Goldman Sachs as managers of the fund.
According to the chief executive of the Nigerian Sovereign Investment Authority, Uche Orji, $50 million of the fund was allocated to UBS last week for asset acquisitions in the US Treasuries, while the $150 million left will be handed over to Credit Suisse and Goldman Sachs this week for the development of a US bond portfolio………………………………………..Full Article: Source

Posted on 18 September 2013 by VRS |  Email |Print

Eligible Alaskans will find out how much they’ll receive from their Permanent Fund Dividend in a Wednesday announcement scheduled to take place at 11 a.m. The announcement will be made by acting Revenue Commissioner Angela Rodell at the Atwood Building in downtown Anchorage.
The disbursement reflects investment profits from the state’s oil-wealth savings account. It is based on the amount of investment earnings allocated to dividends based on a five-year rolling average of the Permanent Fund’s performance……………………………………….Full Article: Source

See more articles in the archive

banner
September 2014
M T W T F S S
« Aug    
1234567
891011121314
15161718192021
22232425262728
2930