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Sovereign Wealth Funds Briefing 02.Jan 2014

Posted on 02 January 2014 by VRS |  Email |Print

Norway’s central bank will not sell Norwegian crowns in January to buy foreign exchange for the country’s sovereign wealth fund, the bank said on Monday on its page, extending its December practice.
Last month the central bank said it would refrain from buying foreign exchange that would have enabled the fund to invest money in foreign stocks and bonds. The fund invests Norway’s revenues from oil and gas production for future generations. It is the world’s largest sovereign wealth fund………………………………………..Full Article: Source

Posted on 02 January 2014 by VRS |  Email |Print

The government’s disinvestment programme is a failure. So far, it has raised just 3 percent of the Rs 40,000 crore it intended from the sale of equity in public enterprises in this fiscal year. Ministries do not want to let go off the companies. Disinvestment decisions are announced in advance, leading to a drop in stock prices and this in turn is used as an excuse to delay equity sale.
In unlisted companies, antiquated valuation methods are used for public offerings of equity. Is there a bigger, bolder idea here, without riling the usual prophets of doom? Yes, there is. We can create a trillion dollar India Sovereign Fund, without spending a single penny from the government’s fiscal book! Let me show you how. ……………………………………….Full Article: Source

Posted on 02 January 2014 by VRS |  Email |Print

When you think or New Zealand its formidable rugby team is likely to your first association and its role in the financial world probably won’t register at all. So there must surely be some unique challenges when it comes to running a US$20 billion sovereign wealth fund from ‘the bottom of the world’.
Some would consider her fund’s relatively isolated location a hindrance, but Fiona Mackenzie, head of investments for the New Zealand Superannuation Fund (NZSF) couldn’t disagree more: ‘The fact we are further away means we have had to approach things a bit differently. I think the distance actually helps us. It gives us a bit of space to reflect and really focus on what is going to drive the portfolio and get away from some of the noise………………………………………..Full Article: Source

Posted on 02 January 2014 by VRS |  Email |Print

The Adamawa Government on Tuesday received 6.2 million dollars, representing its savings under the Sovereign Wealth Fund. The 21 local government councils in the state also received 4.8 million dollars to be shared among them.
The Sovereign Wealth Fund is a vehicle through which excess revenue from the sale of crude oil is saved abroad. Receiving certificates for the two amounts in Yola, Gov. Murtala Nyako of Adamawa, said that the introduction of the fund was laudable as it would enhance development………………………………………..Full Article: Source

Posted on 02 January 2014 by VRS |  Email |Print

Overall, institutional investors fared well in 2013, performance wise. 2013 was a boon for sovereign wealth funds and pensions with allocation to developed market public equities. On December 31, U.S. stocks closed 2013 at records.
Sovereign funds are stepping up commitments to specialist funds and regional private equity funds. The mega PE players are raising larger funds reminiscent of 2007, just look at the recent KKR and Blackstone fund raises in 2013. The other apparent trend is that public funds are looking to limit the number of PE relationships, which could greatly affect mid-sized to smaller private equity firms………………………………………..Full Article: Source

Posted on 02 January 2014 by VRS |  Email |Print

In Alaska, New Year’s Day marks not only another year passed, but also the beginning of registration for the Permanent Fund Dividend, the state’s annual payout to residents from its invested oil wealth. Between Jan. 1 and March 31, Alaskans can apply online or by paper for the 2014 dividend, which officials expect to be larger than last year’s check.
While the dividends have steadily decreased from $2,069 in 2008 to $878 in 2012, the payment for 2014 “will likely go into the four-figure territory once again,” said Dan DeBartolo, director of the Permanent Fund Dividend Division……………………………………….Full Article: Source

Posted on 02 January 2014 by VRS |  Email |Print

Alaskans could see a greater share of the state’s oil wealth when dividends are distributed this year. Permanent Fund Dividend Division director, Dan DeBartolo, tells the Anchorage Daily News that after several years of declining dividends, 2014’s payment “will likely go into the four-figure territory once again.”
The dividend amount is based on the five-year average of the fund’s statutory net income. In 2009, a recession year, the fund posted a $2.5 billion net loss in statutory net income. That helped drive the dividend down in recent years. But it will not affect the 2014 dividend………………………………………..Full Article: Source

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