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Sovereign Wealth Funds Briefing 15.Jan 2014

Posted on 15 January 2014 by VRS |  Email |Print

Time Warner is close to a deal to sell its Manhattan headquarters for $1.3 billion, after sovereign-wealth funds from Abu Dhabi and Singapore agreed to finance more than 80% of buyer Related Cos.’s bid. While the Abu Dhabi Investment Authority and the Government of Singapore Investment Corp. will own most of the joint venture, Related will manage the tower on the corner of Central Park, the people said.
The transaction would be one of the biggest in a surge of deals involving foreign investors in U.S. commercial real estate. Increased demand from overseas has helped drive U.S. commercial property values to record levels, particularly in major cities favored by global firms………………………………………..Full Article: Source

Posted on 15 January 2014 by VRS |  Email |Print

The chairman and chief executive of China’s $600 billion sovereign wealth fund believes the US and Europe provide the best investment opportunities for the year ahead, underpinned by a rebound in growth in developing economies as a moderate slowdown takes hold in emerging markets.
Ding Xuedong, the chairman of the China Investment Corporation, told the Asian Financial Forum in Hong Kong that the re-emergence of hi-tech manufacturing in the US powered by shale gas and low relative labour costs offered a good investment opportunity………………………………………..Full Article: Source

Posted on 15 January 2014 by VRS |  Email |Print

Economic growth in the developed countries will in future outpace that in emerging markets, the chairman and chief executive of China’s largest sovereign wealth fund told the Asian Financial Forum on Monday.
Ding Xuedong, who took over the reins at China’s $575 billion China Investment Corp (CIC) fund last July, said western countries had completed the post crisis deleveraging process, whereas progress with deleveraging has been much more patchy in the emerging markets………………………………………..Full Article: Source

Posted on 15 January 2014 by VRS |  Email |Print

Norges, Norway’s sovereign wealth fund which ranks as one of the world’s largest funds with some US$810bil (RM2.5 trillion), has taken up some 18 million Daya Material Bhd’s shares at 34.5 sen under the latter’s recently concluded 10% private placement, according to sources.
This means that Norges now owns about 1.3% of Daya. “Norges initially wanted 30 million shares. However, there wasn’t enough to go around. They may buy from the open market instead,” said a source………………………………………..Full Article: Source

Posted on 15 January 2014 by VRS |  Email |Print

A proposed sovereign wealth fund in Zimbabwe will be bankrolled by as much as a quarter of royalties and special dividends earned on minerals such as diamonds, gold and platinum, according to a draft bill seen on Monday.
Finance Minister Patrick Chinamasa said in October Harare planned a sovereign wealth fund law by February but hinted at the time the government might not have any money at first due to the need to overhaul crumbling infrastructure………………………………………..Full Article: Source

Posted on 15 January 2014 by VRS |  Email |Print

Zambia plans to establish a sovereign wealth fund to spur investment outside the mining industry of Africa’s biggest copper producer. According to President Michael Sata, the fund will be set up through the Industrial Development Corp., which will oversee the southern African nation’s state-owned companies.
“The state will through the IDC maximize the value of government assets by establishing a sovereign wealth fund, which will focus on stimulating investment in strategic non-mining industries among others, thereby expanding the country’s investment portfolio and thus creating jobs,” Sata said………………………………………..Full Article: Source

Posted on 15 January 2014 by VRS |  Email |Print

Papua New Guinea’s National Superannuation Fund (NASFUND) members without bank accounts can no longer expect to be paid in cheques, especially their retirement money.
They have been advised to open up bank accounts to facilitate payment of their benefits. This was stressed by chief executive Ian Tarutia, who advised members to have bank accounts for convenient access to their benefits………………………………………..Full Article: Source

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