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Sovereign Wealth Funds Briefing 06.Dec 2013

Posted on 06 December 2013 by VRS |  Email |Print

The changing macro environment created by a post-QE world will create three major trends for sovereign wealth funds in Asia. That is according to Pascale Blanqué, chief investment officer with French asset management group Amundi.
Outlining how he expects the market to evolve in the coming year, Blanqué said the move to less accommodative monetary policies will not lead to the stabilisation many investors expect. ‘Normalisation is a false trend. We are seeing a shift from the classic interest rate framework to a larger framework where asset prices will continue to move one way or another,’ he said………………………………………..Full Article: Source

Posted on 06 December 2013 by VRS |  Email |Print

New Zealand’s sovereign wealth fund is cutting equity holdings after this year’s surge in global stock markets left shares at the most expensive in four years. “Sometimes we are going to have huge opportunities and that’s when we use our risk,” Neil Williams, chief investment adviser at the New Zealand Superannuation Fund, said in an interview in Auckland Dec. 2.
“Other times, like now, equities have rallied and are close to fair value. Fixed income sold off and bond yields are getting closer to fair value. Then we leave it and we don’t have positions on.”……………………………………….Full Article: Source

Posted on 06 December 2013 by VRS |  Email |Print

Investment company Temasek Holdings has made substantial contributions to benefit Singapore and Singaporeans, said chairman Lim Boon Heng. Lim said the contributions have helped to boost the government’s budget revenue to fund social programmes and kept tax burden light.
The government has rolled out various programmes to support the elderly and the needy. In the past 10 to 15 years, contributions from investment companies like Temasek, the GIC and others have helped to fund the programmes………………………………………..Full Article: Source

Posted on 06 December 2013 by VRS |  Email |Print

Temasek Holdings is not a typical sovereign wealth fund, said chairman Lim Boon Heng at a conference this morning. It has to pay tax, it is run independently from the Government in day-to-day business operations, it has a board of largely independent directors, he told a group of fund managers, academics and other sovereign wealth fund executives.
Governance matters to the institution, and it has a disciplined approach to evaluating long-term returns, he added………………………………………..Full Article: Source

Posted on 06 December 2013 by VRS |  Email |Print

Among the distinct terms of reference for the Presidential Task Force on Parastatal Reform was to consider the institutional framework for setting up a Sovereign Wealth Fund for Kenya .
Sovereign Wealth Funds are vehicles established by governments to hold assets, reserves and generate profits for stated purposes. While these funds have been existence for a long time, the pace of their establishment and the assets they hold have risen significantly in the last ten years. For Kenya , establishment of a Sovereign Wealth Fund appears to be driven by the recent discoveries of petroleum and other mineral deposits……………………………………….Full Article: Source

Posted on 06 December 2013 by VRS |  Email |Print

Nicolas Dufourcq is the Chief Executive Officer of Bpifrance, the first ever Bank for Public Investment in France. Earlier, he served as Deputy Chief Executive Officer at Capgemini, the informatics giant, which has a workforce of 45,000 in India, a third of its total staff of 125,000.
Its mandate is to offer all possible financial resources and facilities to the French entrepreneur, from the hairdresser to the technology marvel listed on the Nasdaq. And that includes some very big companies in which we have an equity stake. We are a sovereign fund………………………………………..Full Article: Source

Posted on 06 December 2013 by VRS |  Email |Print

Embracing an inward stance on investing, the once major allocator of private equity is looking to sell those very investments. In 2005, the NPRF embarked on a private equity investing binge – partnering with a number of the most-recognized funds in the industry.
Ireland’s sovereign fund is transforming their discretionary portfolio into an economic stimulator to create domestic jobs – essentially modifying the fund into a strategic development sovereign wealth fund (SDSWF)………………………………………..Full Article: Source

Posted on 06 December 2013 by VRS |  Email |Print

Azerbaijan intends to raise investments in Turkey. The statement came from head of the State Oil Fund of Azerbaijan Shahmar Movsumov speaking at the opening of the Caspian Forum in Istanbul on 3 December.
According to Movsumov, SOFAZ is already investing actively in Turkish economy. As an example, he cited investments into STAR holding in Izmir and into Turkish banks. According to the head of the fund, they are currently viewing a possibility to invest into the real estate in this country………………………………………..Full Article: Source

Posted on 06 December 2013 by VRS |  Email |Print

Samruk-Kazyna, the country’s sovereign wealth fund, is seeking to sell stakes in Kazakh banks. It owns a 79.9% stake in Temirbank, 67 percent in Alliance Bank and 97.3 percent of BTA Bank. The fund is considering a sale of its entire holding in Temirbank and 16 percent of Alliance Bank, to Kazakh billionaire Bulat Utemuratov, Interfax reported Nov. 20.
Several potential buyers are examining BTA’s finances, and while the sale probably won’t be completed this year, the most likely bidders may become known before year-end, said Kelimbetov, the former chief executive of Samruk-Kazyna………………………………………..Full Article: Source

Posted on 06 December 2013 by VRS |  Email |Print

Contending with a probable ratings downgrade derived from a narrowing 12-month primary budget surplus, Brazilian public officials are seeking new options. Brazil may not be able to reach the year-end budget savings target of 2.3% of gross domestic product – a lowered target from last year.
Last week, the Banco Central do Brasil stated the 12-month public sector primary surplus slimmed to R$ 67.89 billion (US$ 29.14 billion) from R$ 74.1 billion………………………………………..Full Article: Source

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