Sat, Aug 30, 2014
A A A
Welcome sandeep.kottawar@wns.com
RSS
Sovereign Wealth Funds Briefing 09.Dec 2013

Posted on 09 December 2013 by VRS |  Email |Print

Tanzania has moved to secure the gains from its natural gas reserves by creating a sovereign wealth fund. The Natural Gas Reserve Fund is expected to hold proceeds from the industry in trust, for investment in other sectors of the economy, as well as finance social and economic development and build savings for future generations.
Established by the newly enacted Natural Gas Policy 2013, the fund is expected to act as a state-owned investment vehicle to ensure that Tanzanian citizens benefit directly from the profits of natural gas. “We don’t want to take all the money from the gas sector to the Treasury as was the case with the mining sector, which led citizens to believe that mining had contributed nothing to their lives,” said Deputy Minister for Energy and Minerals George Simbachawene………………………………………..Full Article: Source

Posted on 09 December 2013 by VRS |  Email |Print

Temasek Holdings is usually lumped together with other sovereign wealth funds, yet it is a unique body that shares few characteristics with these organisations, said chairman Lim Boon Heng Thursday.
Mr Lim told a conference in Singapore: “Defining Temasek is not easy: We have not found another entity that does exactly what we do.” He ran through the many points of difference, which range from the investment company’s strategies to its relationship with the Government………………………………………..Full Article: Source

Posted on 09 December 2013 by VRS |  Email |Print

Temasek Holdings is not your usual sovereign wealth fund, according to Chairman Lim Boon Heng. According to Chairman Lim, Temasek is a unique entity that only has few things in common with other sovereign wealth funds. He said, “Defining Temasek is not easy: We have not found another entity that does exactly what we do.”
Chairman Lim said one point of difference is that as a commercial investment firm, Temasek is the outright owner of its assets. Unlike other sovereign wealth funds, it is not a fund manager for the government. He also added that Temasek pays taxes like other companies………………………………………..Full Article: Source

Posted on 09 December 2013 by VRS |  Email |Print

Most superannuation fund executives and trustees believe that fewer than 30 per cent of their fund members actually understand the life insurance they receive via their superannuation fund.
That is the disturbing the finding of a survey conducted during the Association of Superannuation Funds of Australia (ASFA) national conference in Perth last month by Money Management’s sister publication Super Review………………………………………..Full Article: Source

Posted on 09 December 2013 by VRS |  Email |Print

As controversy over the setting up the Sovereign Wealth Fund (SWF) continued to rage with the 36 states of the federation telling to the Supreme Court during the week that talks aimed at amicably resolving the issue had collapsed and urged the court to proceed with the hearing of the case, it has now been revealed real reason most states are opposed to the institution of the fund.
The Supreme Court had on Monday fixed March 24, 2014 for definite hearing in the suit filed by 36 state governors against the Federal Government over the Excess Crude Account and the Sovereign Wealth Fund………………………………………..Full Article: Source

Posted on 09 December 2013 by VRS |  Email |Print

The Libyan Government has denied reports that it has withdrawn US$7 billion from its foreign currency reserves. It has also denied taking a loan from the World Bank to finance its budget deficit caused by the fall in oil receipts.
A communiqué published by the Finance Ministry on Friday night described the reports as “false” and called upon the media to adopt a professional approach while delivering their job………………………………………..Full Article: Source

Posted on 09 December 2013 by VRS |  Email |Print

A Russian sovereign wealth fund is considering to invest US$ 10 billion in Egypt’s market within the upcoming period, the Egyptian Finance Minister Ahmed Galal said.
This comes in addition to the Gulf and Western investors’ plan to pump new investments in the cash-strapped Egypt………………………………………..Full Article: Source

Posted on 09 December 2013 by VRS |  Email |Print

Against the background of recovery of the global economy, State Oil Fund of Azerbaijan (SOFAZ) will increase the stake of shares in its investment portfolio from the current five percent to 10 percent, SOFAZ Executive Director Shahmar Movsumov told Trend on Dec.6.
This is envisaged by the draft investment policy of the fund for 2014 adopted by SOFAZ Supervisory Board and submitted for the approval of the Azerbaijani president. The stake of shares will be increased through decreasing the share of bonds to 80 percent, Movsumov said………………………………………..Full Article: Source

Posted on 09 December 2013 by VRS |  Email |Print

The Alaska Supreme Court upheld the constitutionality of the residency requirements and allowable absence rules of Alaska’s Permanent Fund dividend in a 3-2 decision released Friday.
The justices ruled in favor of the state’s requirement that a PFD recipient must be a resident for at least six months before they can qualify for an allowable absence to be outside the state more than 180 days, for things like college or a military deployment………………………………………..Full Article: Source

See more articles in the archive

August 2014
M T W T F S S
« Jul    
 123
45678910
11121314151617
18192021222324
25262728293031