Sat, Oct 25, 2014
A A A
Welcome sandeep.kottawar@wns.com
RSS
Sovereign Wealth Funds Briefing 02.Oct 2013

Posted on 02 October 2013 by VRS |  Email |Print

Sovereign investors in the Middle East are piling increasingly into alternative investments like private equity and hedge funds as they bring more of their asset management expertise in-house, according to a new study.
The report, conducted by NMG Consulting on behalf of the U.S. asset manager Invesco, brought together data from 37 sovereign investors globally, including sovereign wealth funds, pension funds and vehicles that focus on domestic economic development. It found that the Middle East’s sovereign funds had 91% of their money in traditional asset classes………………………………………..Full Article: Source

Posted on 02 October 2013 by VRS |  Email |Print

Resource-rich countries should curb illicit financial outflows and set up sovereign wealth funds to manage windfall revenues from hydrocarbon and mineral exports, a senior African Development Bank (AfDB) official said on Monday.
Steve Kayizzi-Mugerwa, development research director at AfDB, said African countries could finance most of their development needs through their own resources without depending on external debt if they properly managed their wealth………………………………………..Full Article: Source

Posted on 02 October 2013 by VRS |  Email |Print

Qatar Holding LLC, a unit of the emirate’s sovereign wealth fund, bought NYSE Euronext’s 12 percent stake in the Qatar Exchange to become its sole owner.
The sale comes after achieving all the “strategic goals” identified for the exchange when NYSE bought a 20 percent stake in June 2009, according to an e-mailed statement today from the two companies. Financial details of the deal weren’t given. NYSE Euronext paid $200 million for the stake four years ago………………………………………..Full Article: Source

Posted on 02 October 2013 by VRS |  Email |Print

Bahrain’s sovereign-wealth fund, British entrepreneur Ron Dennis, and other shareholders in McLaren Automotive Ltd. have recapitalized the closely held specialist U.K.-based luxury car brand, which is best known for its Formula One racing team and supercars.
McLaren’s four shareholders, including the Mumtalakat fund and Mr. Dennis, have converted around £172 million ($278.4 million) in debt and interest into stock and injected another £32 million through a capital increase, the company said in its latest regulatory filing. The other shareholders are the Luxembourg-based Tag Group and Singaporean billionaire Peter Lim………………………………………..Full Article: Source

Posted on 02 October 2013 by VRS |  Email |Print

The best way to assure the future of the SWF is to embark on projects that impact the people. The idea of creating the Sovereign Wealth Fund (SWF) for the country is worth commending. It is premised on the wisdom of saving some portion of the “excess proceeds” from crude oil sales for the future so it could provide fiscal stability in times of economic stress.
With a take-off sum of $1 billion, the Managing Director of the Nigerian Sovereign Investment Authority (NSIA), Mr. Uche Orji, has said that the authority was looking at investing in Monoline insurance, securities, health and aviation sectors of the economy……………………………………….Full Article: Source

Posted on 02 October 2013 by VRS |  Email |Print

A review of the $1 billion seed capital contributed by the three tiers of government to the Sovereign Wealth Fund (SWF) has shown that Akwa Ibom, Rivers and Delta States made the highest contributions among the 36 states of the federation.
Vice-President Namadi Sambo, last week, presented certificates of contribution to the federal, state and local governments, while inaugurating the council. But the actual contribution by the federal, respective states and local governments was not disclosed. The Nigeria Sovereign Investment Authority (NSIA) oversees the management and investment of the SWF………………………………………..Full Article: Source

Posted on 02 October 2013 by VRS |  Email |Print

Analysts have hailed Government’s plans to set up a Sovereign Wealth Fund that is aimed at raising capital from internal resources to support wealth creating sectors to ensure sustainable economic growth.
Confederation of Zimbabwe Industries past president Mr Kumbirai Katsande yesterday said he hoped the establishment would happen soon as the idea had been on the cards for some time………………………………………..Full Article: Source

Posted on 02 October 2013 by VRS |  Email |Print

A group of Labour MPs have called for Britain’s £8.6bn Crown Estate to be turned into a sovereign wealth fund. The Crown Estate should start investing in foreign property and infrastructure projects around the world much like government-backed investment funds across Europe, the Middle East and Asia, the MPs will tell the Co-op party’s annual conference on Friday.
Gareth Thomas, chair of the Co-op party’s group of 33 Labour MPs, said: “A British sovereign wealth fund could promote co-operation with fast-growing overseas businesses, earning the UK vital income over the long term………………………………………..Full Article: Source

Posted on 02 October 2013 by VRS |  Email |Print

Kairat Kelimbetov, a deputy prime minister who led the nationalization of failing Kazakh lenders in 2009 as the chief of the country’s sovereign wealth fund, will replace Grigori Marchenko as central bank governor.
Kelimbetov, 44, was named in place of Marchenko, 53, who resigned for “family reasons” before his six-year term was set to end in January 2015, according to a statement published on President Nursultan Nazarbayev’s website……………………………………….Full Article: Source

Posted on 02 October 2013 by VRS |  Email |Print

Kazakh President Nursultan Nazarbayev sacked the head of the central bank on Tuesday and replaced him with Deputy Prime Minister Kairat Kelimbetov, a move that could herald changes in the management of pension fund assets. The presidential press service said monetary policy would remain unchanged.
Outgoing Grigory Marchenko, 53, had been at the helm of the central bank since 2009 and was largely responsible for reshaping the banking and pension systems in Central Asia’s largest economy………………………………………..Full Article: Source

Posted on 02 October 2013 by VRS |  Email |Print

Singapore sovereign wealth fund GIC Private Ltd has invested 300 million reais ($135 million) in a Brazilian water and sewage treatment company.
Aegea Saneamento e Participacoes S.A., an arm of conglomerate Grupo Equipav, said in an announcement on Tuesday that the investment will be used to help fund its growth plans. Currently it holds around 15 percent of the private water and sewage treatment market in Brazil, according to its website………………………………………..Full Article: Source

Posted on 02 October 2013 by VRS |  Email |Print

Hong Kong-listed Chinese waste water treatment company Beijing Enterprises Water Group says that a subsidiary of Malaysian sovereign wealth fund Khazanah Nasional plans to invest HK$1.18 billion ($152 million) in the company.
The subsidiary, Mount Reskit Investments Ltd., agreed to buy 400 million subscription shares of Beijing Enterprises Water Group at HK$2.95 per share, which amounts to around 4.9% of the company’s total shares. The price equals a discount of approximately 5.1% to the closing price of HK$3.11 per share on the Hong Kong Stock Exchange on the last trading day before the news announcement………………………………………..Full Article: Source

Posted on 02 October 2013 by VRS |  Email |Print

The Auditor General has given the thumbs up to the financial performance of Khazanah Nasional Bhd, which has fulfilled its role effectively as the investment catalyst in strategic sectors in the country and overseas.
According to the 2012 Auditor General’s Report, for 2009, 2010, 2011 and 2012 financial years, Khazanah’s financial performance was good whereby the company had recorded annual comprehensive income of RM640.7 million, RM1.215 billion, RM5.692 billion and RM1.562 billion, respectively………………………………………..Full Article: Source

Posted on 02 October 2013 by VRS |  Email |Print

China Investment Corp., which has a 12.7% allocation to absolute return investments, is close to making a hedge fund investment in Europe.
Roslyn Zhang, MD of Fixed Income and Absolute Return Investments, says the Chinese sovereign wealth fund has been spending more time looking at Europe. “From the intelligence we gathered from managers, we had been lacking in confidence to pull the trigger, but now we feel we are getting closer to the point of taking action.”……………………………………….Full Article: Source

Posted on 02 October 2013 by VRS |  Email |Print

While at a reception in Beijing earlier this year, I talked to a director of the China Investment Corporation, the world’s fourth biggest sovereign wealth fund.
He told me that if the Canadian government had not approved the takeover of Nexen by the Beijing-based state-owned oil company, CNOOC, Chinese investment in Canada would have dried up overnight………………………………………..Full Article: Source

See more articles in the archive

banner
October 2014
M T W T F S S
« Sep    
 12345
6789101112
13141516171819
20212223242526
2728293031