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Sovereign Wealth Funds Briefing 28.Oct 2013

Posted on 28 October 2013 by VRS |  Email |Print

Norway’s $810 billion sovereign wealth fund, one of the world’s biggest investors, will increase its investments in China by 50 percent to $1.5 billion and would like to do even more, its chief executive told Reuters.
The head of the fund, a major investor in Google, Starbucks and Apple, also said on Friday he would not take up the issue of tax avoidance with the firms it invests in, despite the fund’s ethical profile. The fund, which invests Norway’s vast surplus of oil money, is the world’s richest sovereign wealth fund and holds about 1 percent of all global equities………………………………………..Full Article: Source

Posted on 28 October 2013 by VRS |  Email |Print

Norway’s sovereign wealth fund, the world’s largest, warned that stock-market gains may reverse as Europe’s biggest equity investor said it won’t use new inflows to buy more shares.
“Our share in the stock market has been stable or falling even though markets are rising, and that means in practice that we’re not using inflows to buy stocks,” Yngve Slyngstad, chief executive officer of Norges Bank Investment Management, said at a press conference today in Oslo. The fund is preparing for a “correction” in stock prices, he said………………………………………..Full Article: Source

Posted on 28 October 2013 by VRS |  Email |Print

Ex Chairman of the Central Bank Mr. Gregory Marchenko in his interview for Delovoi Kazakhstan (“Business Kazakhstan”), voiced reasons behind excessively protracted merger of pension funds into a single pension fund.
“I believe the process of swapping stakes in the three biggest pension funds [in exchange for stakes in government-owned banks] between the funds’ shareholders and Samruk-Kazyna Sovereign Wealth Fund is unjustifiably protracted as shareholders of these pension funds have lost their business”, Mr. Marchenko said………………………………………..Full Article: Source

Posted on 28 October 2013 by VRS |  Email |Print

The Singapore government is Royal Mail’s second biggest private owner. Mega-rich GIC now owns a 4.1% stake of the privatised postal giant, worth nearly £230million. It follows revelations that an aggressive hedge fund, TCI, had become the biggest private shareholder in the firm.
Confirmation of the latest big money investor to snap up a major chunk of the firm came as a top analyst valued Royal Mail at £5.7billion – £2.4bn more than the Government’s ill-fated estimate………………………………………..Full Article: Source

Posted on 28 October 2013 by VRS |  Email |Print

Future Fund chairman David Gonski is set to be the next chairman of ANZ, subject to board approval, with the appointment to take place next year. Present ANZ chairman John Morschel is understood to have made clear to the board he is keen to step down as soon as a replacement can be found.
Mr Gonski has been sounded out to test his availability – the bank is seeking a candidate with experience of Asia as it pushes ahead with a focus on the region – and has said he would be keen to take the job if the bank’s board decided to appoint him………………………………………..Full Article: Source

Posted on 28 October 2013 by VRS |  Email |Print

The Selangor state government is planning to set up a RM1 billion sovereign wealth fund as a way to develop its major urban centres like Petaling Jaya and Klang into “worldclass” cities.
The Selangor Urban Development Fund will raise part of the money from private sector businesses in real estate and infrastructure development by leveraging assets like state-owned land. The fund will be parked under the state’s Mentri Besar Inc. Selangor Menteri Besar Khalid Ibrahim revealed the plan in Johor while presenting a paper at the Future of Urban Living Conference in Iskandar………………………………………..Full Article: Source

Posted on 28 October 2013 by VRS |  Email |Print

Sandalwood producer TFS Corporation has received about $49 million from a Middle Eastern sovereign wealth fund to plant 595 hectares of Indian sandalwood at a new plantation in the Northern Territory. It is the fourth investment by the Middle eastern wealth fund in TFS’s sandalwood plantations.
“TFS welcomes the positive and ongoing support of our foundation Middle Eastern investor as the company transitions to being a major global producer of Indian sandalwood with over 7,600 hectares now established across Western Australia, Northern Territory and Queensland,” TFS chief executive Frank Wilson said………………………………………..Full Article: Source

Posted on 28 October 2013 by VRS |  Email |Print

Sharia investing is again picking up momentum in the Gulf after almost five years of shrinking investor interest, said Jahangir Aka, head of SEI Middle East, pointing out that sharia-compliant banking continues to maintain strong growth in the Middle East.
“The SWFs in the region continue to maintain a very focused and disciplined approach to diversifying the “savings” of the country to ensure returns over the long-term. They have departments that are opportunistic in taking advantage of market dislocations and unique opportunities, but again that is part of a pre-approved budget and asset allocation,” he pointed out………………………………………..Full Article: Source

Posted on 28 October 2013 by VRS |  Email |Print

The Kuwait Investment Authority is rumored to have approached British Land Co. Plc with a £8.99 billion, or £9-per-share, cash bid, The (U.K.) Daily Mail reported Oct. 24. The deal would value the company at £6.2 billion, according to the report.
J.P. Morgan Cazenove analysts Harm Meijer, Tim Leckie, Neil Green and Annelies Vermeulen said in their daily Property Ticker briefing that a deal is “unlikely.”……………………………………….Full Article: Source

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