Thu, Apr 17, 2014
A A A
Welcome sandeep.kottawar@wns.com
RSS
Sovereign Wealth Funds Briefing 07.Nov 2013

Posted on 07 November 2013 by VRS |  Email |Print

Singaporean sovereign wealth fund GIC is selling $350 million of bonds convertible into shares in Glencore Xstrata, bookrunner Bank of America Merrill Lynch said on Wednesday.
The bonds, which pay an annual interest rate of 5 percent and due to mature Dec. 31, 2014, are being sold via an accelerated offering expected to be completed on Nov. 7………………………………………..Full Article: Source

Posted on 07 November 2013 by VRS |  Email |Print

Qatar Holding LLC is among a handful of investors that have put money into BlackBerry’s $1 billion convertible debt offering, a source familiar with the financing plan said on Wednesday. The Qatari sovereign wealth fund bought as much as $200 million of the offering, in which Fairfax Financial Holdings Ltd, BlackBerry Ltd’s largest shareholder, has itself put in $250 million.
The embattled smartphone maker abandoned plans on Monday to sell itself and replaced its chief executive, sparking a 16 percent drop in its share price. It said it would raise $1 billion by issuing convertible notes to a small group of long-term investors, including Fairfax, which is run by investment guru Prem Watsa………………………………………..Full Article: Source

Posted on 07 November 2013 by VRS |  Email |Print

The Federal Ministry of Finance has denied news reports that 1.3 billion dollars is missing from the Excess Crude Account, describing the report as “ totally inaccurate.”
In a statement signed by the Special Adviser to the Minister of Finance, Paul C Nwabuikwu, the ministry said “such reports are a misrepresentation of what actually transpired during the appearance of the Coordinating Minister for the Economy and Minister of Finance, Dr Ngozi Okonjo-Iweala before an open hearing of the joint Finance Committees of the Senate and House………………………………………..Full Article: Source

Posted on 07 November 2013 by VRS |  Email |Print

Sovereign wealth funds are comfortable investing directly into Europe. Given geopolitics, the investment environment and a deep history with Asia and the Middle East, Europe maintains its status as a center for sovereign wealth assets. By analyzing the top 25 sovereign wealth funds ranked by assets, a significant portion of them have European operations, particularly in London.
Across the pond, sovereign wealth funds are also heavily allocated to the United States, but not directly. In the U.S., with the exception of institutional real estate, sovereign wealth funds extensively use intermediaries and local partners to channel their monies. This approach directly contrasts that of their European investments………………………………………..Full Article: Source

Posted on 07 November 2013 by VRS |  Email |Print

Wing Tai Holdings chief Cheng Wai Keung, 63, has been appointed deputy chairman of Singapore investment firm Temasek Holdings. The well-known property developer and businessman’s new appointment at Temasek took effect on Monday. He has been a non-executive director on Temasek’s board since September 2011, and is also a member of its executive committee.
Mr Cheng’s appointment comes some three months after Temasek appointed Lim Boon Heng its new chairman. Mr Lim took over from S Dhanabalan, who had served as Temasek’s chairman for 17 years………………………………………..Full Article: Source

Posted on 07 November 2013 by VRS |  Email |Print

Reuters reported that Norway’s opposition Labour Party would like to see the country’s $800-billion wealth fund banned from investing in coal producers. A spokesperson said that the party believes “humans are responsible for climate change so we must also see what we can do to reduce emissions.”
As quoted in the market news: The fund, the world’s largest sovereign wealth fund, is a major shareholder in some of the biggest coal miners on the planet, including global giants BHP Billiton , Vale and Anglo American, as well as China’s top producer, China Shenhua ………………………………………..Full Article: Source

Posted on 07 November 2013 by VRS |  Email |Print

Norges Bank ties up with Axa for real estate loans; AUM at global sovereign wealth funds top $5 trillion. This year, sovereign wealth funds have grown at their fastest rate since 2007, adding $750 billion to assets under management in the year to October.
A recent study by alternative assets research firm Preqin shows that total assets under management in sovereign wealth funds globally now exceed $5 trillion, having increased from $4.62 trillion to $5.38 trillion over the past year………………………………………..Full Article: Source

Posted on 07 November 2013 by VRS |  Email |Print

As part of its investment policy the State Oil Fund of Azerbaijan (SOFAZ) gives preference to fixed-income assets. The report on Fund’s activity for the first 3 quarters of 2013 says that SOFAZ kept 85.4% of its portfolio in fixed income assets. Another 6% of the portfolio is placed on deposits and money market instruments. 3.6% of the Fund’s portfolio account for stocks, gold - 3.2%, real estate - 1.8%.
At that, bonds are dominating among the fixed income assets. The advantage here belongs to corporate bonds (31.6%) and bonds of agencies and supranationals (23.4%). At that, financial bonds form 11% and covered bonds - 5.8%. Sovereigns make up 10.5% of Fund’s portfolio and municipal bonds 0.1%. 17.6% of the portfolio accounts for medium-term commercial papers………………………………………..Full Article: Source

See more articles in the archive

banner
banner
April 2014
M T W T F S S
« Mar    
 123456
78910111213
14151617181920
21222324252627
282930