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Sovereign Wealth Funds Briefing 21.Jan 2014

Posted on 21 January 2014 by VRS |  Email |Print

Sovereign wealth funds are large investment companies owned by governments that manage an array of financial assets, from stocks and bonds, to income from natural resources and real estate. In order of holdings, the Monitor Group’s Sovereign Wealth Fund Assets Under Management Table shows that Norway, China, United Arab Emirates, Singapore, and Kuwait have the largest sovereign wealth funds.
Establishing a U.S. sovereign wealth fund to do the purchasing of long-term and risky assets would give the Fed room to maneuver in monetary policy, and restrict its job to steering the economy rather than making controversial portfolio investment decisions. And a U.S. sovereign wealth fund could stand as a bulwark against wild swings in financial markets………………………………………..Full Article: Source

Posted on 21 January 2014 by VRS |  Email |Print

Khazanah Nasional Bhd., Malaysia’s state investment company, said the value of its holdings climbed to a record last year as local share prices surged. The net asset value of Khazanah’s investments rose 19 percent to 103.5 billion ringgit ($31 billion) at the end of 2013 from 86.9 billion ringgit a year earlier, the Kuala Lumpur-based fund said.
It outperformed an 11 percent gain in the benchmark FTSE Bursa Malaysia KLCI Index, which closed at a record on Dec. 30………………………………………..Full Article: Source

Posted on 21 January 2014 by VRS |  Email |Print

Malaysian state investor Khazanah Nasional Bhd said political change in key emerging markets means it will have to approach investment more cautiously than last year, when its portfolio of assets reached a record US$40.6 billion (RM134.9 billion).
The sovereign wealth fund, which owns stakes in mobile services provider Axiata Group Bhd and property firm UEM Sunrise Bhd, has been increasing activity abroad to reduce the risk of being heavily invested at home. But elections or leadership change in Turkey, India and Indonesia, as well as their uncertain economic outlook and weakening currencies, make for a cautious outlook for 2014, the fund said at its annual review on Monday………………………………………..Full Article: Source

Posted on 21 January 2014 by VRS |  Email |Print

Khazanah Nasional Berhad, Malaysia’s sovereign wealth fund, said Monday its net asset value rose 19.1% to 103.5 billion ringgit ($31 billion) in 2013. “We are starting this year from a position of relative strength and hopefully our portfolio can handle any storms,” said Azman Mokhtar, managing director for the Kuala Lumpur-based fund.
Last year “was eventful with highlights including better operating performance across practically all investee companies and deepening of the regional presence of various companies.”……………………………………….Full Article: Source

Posted on 21 January 2014 by VRS |  Email |Print

A block trade by the China Investment Corporation of its $800 million stake in the industrial property developer Goodman Group could be imminent, according to talk in the market, with some speculating that the investment banks are likely to be vying for an advisory role to the sovereign wealth fund on the deal.
A likely frontrunner to secure the advisory role would be Macquarie Group, which has previously worked on major deals for Goodman, should a block trade proceed. According to a note by JPMorgan’s sales team, investors are betting CIC’s trade of its 9.8 per cent interest in the business is a high probability……………………………………….Full Article: Source

Posted on 21 January 2014 by VRS |  Email |Print

China Investment Corporation (CIC) and Ireland’s National Pensions Reserve Fund (NPRF) will set up a USD 100 million 50-50 technology fund.
The fund will invest in Ireland-funded companies with strategic interest in China and China-funded companies with strategic interest in Ireland. The fund will be co-operated by WestSummit Capital and Irish Atlantic Bridge………………………………………..Full Article: Source

Posted on 21 January 2014 by VRS |  Email |Print

Online baby care portal First-Cry.com has received funding of Rs 92 crore in what is the largest investment in an ecommerce company selling just one category of products. The equity investment was led by Vertex Venture Management, a subsidiary of Singapore’s staterun investment company Temasek Holdings.
Existing investors in the company IDG Ventures India and Saif Partners also participated in this third round of funding. FirstCry, which is owned by Brainbees Solutions and based in Pune, will use the money to double its network of brickand-mortar stores and hire more people for its online retail and mobile commerce services………………………………………..Full Article: Source

Posted on 21 January 2014 by VRS |  Email |Print

Nigerian Finance Minister Ngozi Okonjo-Iweala said the federal government wants to increase the capital of its $1 billion sovereign wealth fund this year even as state governors protest allocations before 2015 elections.
“We want to look at what we can do however small to ensure a steady streaming of income into the sovereign wealth fund,” Okonjo-Iweala, 59, said in an interview yesterday in the commercial capital, Lagos, declining to comment on the possible amount………………………………………..Full Article: Source

Posted on 21 January 2014 by VRS |  Email |Print

A newly released analysis says options like large cuts in capital budgets, imposing state sales or income taxes, or cutting Permanent Fund dividends may not eliminate future deficits.
In its overview of Gov. Sean Parnell’s budget plan, the Legislative Finance Division says current spending levels are unsustainable without additional revenue, and simply restraining spending growth is insufficient………………………………………..Full Article: Source

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