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Sovereign Wealth Funds Briefing 21.Oct 2013

Posted on 21 October 2013 by VRS |  Email |Print

Global sovereign wealth funds now hold more than USD 6 trillion in investments with Middle East funds contributing 35% of the assets, according to latest data from Sovereign Wealth Fund Institute.
Collectively, the funds’ assets have risen by more than USD 1 trillion in nine months, suggesting that the richest fund continue to find investment opportunities in a low-growth economic environment. The SWF Institute data from 73 funds, however, is around USD 600 billion higher than estimates by Preqin Sovereign Wealth Fund Review, which recently pegged the SWFs’ combined assets at USD 5.38 billion………………………………………..Full Article: Source

Posted on 21 October 2013 by VRS |  Email |Print

Despite being one of the largest single investors in the world, Norway’s sovereign wealth fund rarely makes waves. Now, though, the $750 billion fund is preparing to raise its voice on a sensitive topic: the increasing computerization of the stock markets and the costs it has imposed on big long-term investors.
Wall Street firms and exchanges have long said that the speed and competition in the markets has made trading cheaper for everyone. Mary Jo White, the chairwoman of the Securities and Exchange Commission, recently referred to the United States stock market as the “envy of the world.”……………………………………….Full Article: Source

Posted on 21 October 2013 by VRS |  Email |Print

As of Oct. 1, some $90,878.5 million was received by the State Oil Fund of Azerbaijan (SOFAZ) from early 2001 within frameworks of the project of development of the Azeri-Chirag-Guneshli (ACG) block of oil field in the Azerbaijani sector of the Caspian Sea, SOFAZ told Trend on Friday.
SOFAZ said that in January-September 2013 it received $12,107.6 million as part of the Azeri-Chirag-Guneshli project. The contract for development of Azeri-Chirag-Guneshli large offshore field was signed in 1994………………………………………..Full Article: Source

Posted on 21 October 2013 by VRS |  Email |Print

The Africa Development Bank (AfDB) says it expects the Nigerian Sovereign Wealth Fund (NSWF) to be the chief mobiliser of funding requirement by Nigeria to meet its infrastructure need in coming years.
The AfDB estimates that full implementation of its Infrastructure Action Plan (IAP) for Nigeria would require some $350 billion of development expenditures between 2011 and 2020 and has proposed for the SWF to mobilise from other public and private sources at least $3 for each $1 of SWF contributions to the programme………………………………………..Full Article: Source

Posted on 21 October 2013 by VRS |  Email |Print

The Qatar Foundation plans to open a centre dedicated to teaching Arab culture and the Arabic language to American pupils as part of a massive development project in Washington that Doha is helping finance.
The first phase of CityCenterDC, one of the largest construction projects in the United States, is being financed by US$622 million (Dh2.28bn) from the Qatari Diar Real Estate Investment Co, which is part of the country’s sovereign wealth fund, the Qatar Investment Authority………………………………………..Full Article: Source

Posted on 21 October 2013 by VRS |  Email |Print

Thailand’s central bank governor Prasarn Trairatvorakul yesterday ruled out the possibility of a sovereign wealth fund any time soon, saying there was a lack of instruments to manage risks. “We have diversified our investment portfolio within the risk management framework,” he said. “There is no initiative to establish any kind of a fund at the moment.”
Earlier, Pongpen Ruengvirayudh, the deputy governor overseeing monetary stability, said the bank was studying a plan to use its surplus foreign reserves to establish what would be called a “New Opportunity Fund”, aimed at increasing returns as a part of efforts to improve its balance sheet. Such a sovereign wealth fund would be managed by a separate organisation or the central bank………………………………………..Full Article: Source

Posted on 21 October 2013 by VRS |  Email |Print

Sources say other government agencies in Beijing such as China Investment Corp (CIC), the mainland’s US$480 billion sovereign wealth fund, are mulling similar plans. For LBS and even the British government, the deal shows mutual trust and, in the long run, may increase Chinese interest in investing in Britain. After all, some of those LBS graduates could go on to become top central bankers and government leaders.
The manager of the world’s largest foreign exchange reserves appears to have finally come to a valuable conclusion - if you want to manage your assets well, you must first know how to manage your people………………………………………..Full Article: Source

Posted on 21 October 2013 by VRS |  Email |Print

The New Zealand Superannuation Fund says it’s keen to work with iwi to invest in businesses. The fund invests money, on behalf of the Government, to help pay for the increased cost of superannuation in the future.
Superannuation Fund chief executive Adrian Orr says they are continually working to find good investments in New Zealand. Mr Orr says his team is working with various iwi groups, particularly Tainui and Ngai Tahu, and the fund is very keen to co-invest with iwi, either within their rohe (territory) or elsewhere………………………………………..Full Article: Source

Posted on 21 October 2013 by VRS |  Email |Print

Fitch Ratings has assigned Kazakhstan’s Joint Stock Company Sovereign Wealth Fund Samruk-Kazyna a Long-Term foreign currency rating of ‘BBB+’, Long-Term local currency rating of ‘A-’, National Long-Term rating of ‘AAA(kaz)’ and Short-term foreign currency rating of ‘F2′.
The Outlooks on the Long-Term ratings are Stable. Fitch has also assigned a Long-Term local currency rating of ‘A-’ and a National Long-Term Rating of ‘AAA(kaz)’ to the Fund’s 23 senior unsecured domestic bond issues with total value of KZT1,090bn………………………………………..Full Article: Source

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