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Sovereign Wealth Funds Briefing 11.Oct 2013

Posted on 11 October 2013 by VRS |  Email |Print

Sovereign wealth funds globally have added over $750 billion to their total assets under management over the last year, from $4.62 trillion in 2012 to $5.38 trillion in 2013 with an increase of 16%, according to latest research from private equity research firm Preqin.
Asia-based sovereign wealth funds have shown some of the largest growth in assets under management, with the assets of these sovereign wealth funds growing, on average, by 19% since 2012. This is in comparison to the average 6% growth in assets under management exhibited by Middle Eastern sovereign wealth funds………………………………………..Full Article: Source

Posted on 11 October 2013 by VRS |  Email |Print

Sovereign funds globally have added over USD 750 billion to their total assets under management over the last year, from USD 4.62 trillion in 2012 to USD 5.38 trillion in 2013, according to Preqin sovereign wealth fund review.
This growth, which is the largest annual increase in total sovereign wealth fund assets since Preqin began tracking this information, can be accounted for by both the number of new sovereign wealth funds formed over the last few years, as well as capital injected into existing sovereign wealth funds. Interestingly, Asia-based sovereign wealth funds have shown some of the largest growth in assets under management, with the assets of these sovereign wealth funds growing, on average, by 19% since 2012, it said………………………………………..Full Article: Source

Posted on 11 October 2013 by VRS |  Email |Print

Benedicte Gravrand, Opalesque Geneva: Invesco, a global investment advisor, recently released its first Invesco Global Sovereign Asset Management Study, an analysis of the investment behaviour of sovereign investors across the globe.
Invesco found that an increased allocation to alternatives is indeed a widespread trend; and that “the biggest growth story among global sovereigns today is an increase in a so-called ‘public-private partnership’ investment approach.” This is when sovereigns seek direct strategic investment in their country’s private companies to support GDP, job creation and skills transfer. Currently global sovereign flows represent more than $6tln, Invesco notes………………………………………..Full Article: Source

Posted on 11 October 2013 by VRS |  Email |Print

Singapore’s sovereign wealth fund Temasek and Chinese refiner Sinopec have approached Spanish oil company Repsol over its ¤4.7bn ($6.4bn) stake in Gas Natural.
Repsol said in July it was considering disposing of its Gas Natural stake because the agreed sale of its liquefied natural gas business to Royal Dutch Shell, due to close this year, diminishes the holding’s strategic rationale. No final decision has been taken and Repsol has received interest from other parties, the FT said, citing people close to the deal. Repsol is not in a rush to sell its stake, meaning a sale would come down to an attractive price, according to the FT………………………………………..Full Article: Source

Posted on 11 October 2013 by VRS |  Email |Print

The Korea’s National Pension Service (NPS), the world’s third largest public pension, and sovereign wealth fund Korea Investment Corporation (KIC) will commission local financial firms to make investments overseas.
Korea’s sovereign wealth fund decided to offer Korean banks opportunities to handle foreign exchange transactions for its overseas investments. Lee Dong-ik, chief investment officer at the fund, said on October 9, “We have had to turn to foreign banks for cross-currency transactions for a variety of reasons. We are now, however, seriously considering assignment of such services to our domestic banks that have proven competent,” adding, “We could be able to work together within this year.”……………………………………….Full Article: Source

Posted on 11 October 2013 by VRS |  Email |Print

The Bank of Thailand could invest its foreign reserves via a sovereign wealth fund, but an amendment is required and the government has been recommended to issue bonds for the fund’s investment, according to MR Pridiyathorn Devakula, a former deputy prime minister and Bank of Thailand governor.……………………………………….Full Article: Source

Posted on 11 October 2013 by VRS |  Email |Print

Khazanah Nasional Bhd shareholders’ funds, as at Dec 31, 2012, stood at RM26,980 million, says Deputy Finance Minister Datuk Ahmad Maslan. He said the government-owned investment organisation’s realised asset value stood at RM121,439 million, for the same period, with 99 per cent of the shares owned by the Ministry of Finance and the remaining one per cent by the Federal Land Commissioner.
“Between 2004 and 2012, Khazanah disposed 55 assets and companies realising proceeds of RM35.7 billion and profits of RM15.7 billion,” he said………………………………………..Full Article: Source

Posted on 11 October 2013 by VRS |  Email |Print

The first investment by the $1bn Nigeria Sovereign Investment Authority (NSIA) has come just as the country’s oil-linked hard currency reserves dip significantly because of a decline in production, raising doubts about its future funding.
However, Ngozi Okonjo-Iweala, the finance minister, is adamant that the country has no “intention of halting the [sovereign wealth] fund at $1bn”. She adds: “You will see that our intention is to expand this fund in the future. We should reach $5bn to $6bn, I’m sure.”……………………………………….Full Article: Source

Posted on 11 October 2013 by VRS |  Email |Print

A clutch of the world’s most powerful sovereign wealth funds are expected to be allocated millions of pounds-worth of shares in Royal Mail even as thousands of British investors are frozen out of the privatisation.
Sky News can reveal that state-backed entities from Kuwait and Singapore are among those which ordered shares worth hundreds of millions of pounds as part of the postal operator’s sell-off. The Kuwait Investment Office, the City-based branch of the Gulf state’s sovereign fund, and the Government Investment Corporation (GIC) of Singapore are expected to have their share applications scaled back because of the huge demand for Royal Mail stock………………………………………..Full Article: Source

Posted on 11 October 2013 by VRS |  Email |Print

Deutsche Bank and Russia’s $10bn sovereign wealth fund are buying a joint stake in Rostelecom ahead of a planned privatisation of the country’s state-owned telecom group.
Germany’s largest bank by assets and Russian Direct Investment Fund, which was set up by president Vladimir Putin in 2011, are investing a combined $240m in parity to “further develop and strengthen the company’s market position”, they said in a joint statement………………………………………..Full Article: Source

Posted on 11 October 2013 by VRS |  Email |Print

Surplus of Azerbaijani State Oil Fund’s (SOFAZ) budget, forecasted for 2014, will amount to 335.1 million manats, the drafts of Azerbaijan’s state and consolidated budgets for 2014, released by Azerbaijani Finance Ministry said.
SOFAZ’s revenues are forecasted at 11.63 billion manats, and expenses at 11.29 billion manats. SOFAZ’s expenses decreased by 17 per cent (or 2.3 billion manats) compared to the figures for 2013, and grew up by 18.2 per cent (or 1.7 billion manats) against the executed indicators for 2012. Alongside with this the SOFAZ’s budget for 2013 was projected with a deficit in the amount of 1.78 billion manats, with expected revenues of 11.82 billion manats and expenditures at 13.6 billion manats………………………………………..Full Article: Source

Posted on 11 October 2013 by VRS |  Email |Print

Kazakh billionaire Bolat Utemuratov has reached a preliminary non-binding agreement with Kazakhstan’s sovereign wealth fund Samruk-Kazyna on the purchase of two mid-sized banks which it controls, the two sides said on Thursday.
Kazakhstan’s government bailed out and acquired controlling stakes in Alliance Bank and Temirbank during the global financial crisis. Samruk-Kazyna owns 67 percent of Alliance Bank and 79.9 percent of smaller Temirbank………………………………………..Full Article: Source

Posted on 11 October 2013 by VRS |  Email |Print

A government committee dedicated to Alberta’s Heritage Savings Trust Fund faced some tough questions during a public meeting last week. The eight MLAs on the standing committee on the fund heard public concerns on the fund’s ability to help during disasters like the spring flooding, debt sustained because of the fund, when heritage fund dollars can be used and the ethical decisions surrounding Alberta’s global investments.
“We had very intelligent questions from the public, both in the room and online, and I think we were able to give them some substantive answers,” committee chairman and St. Albert MLA Stephen Khan said. “This $16.8 billion is not the government’s money, it’s for all Albertans.”……………………………………….Full Article: Source

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