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Sovereign Wealth Funds Briefing 06.Mar 2014

Posted on 06 March 2014 by VRS |  Email |Print

Zimbabwe’s Parliamentary Legal Committee said the country’s Sovereign Wealth Fund Bill doesn’t contravene the constitution, paving the way for the adoption of legislation that could see the fund allocated as much as a quarter of mining royalties.
The proposed legislation also recommends that the fund get a quarter of “special dividends” on state mineral and metal sales. It will mainly be used to pay for infrastructure development………………………………………..Full Article: Source

Posted on 06 March 2014 by VRS |  Email |Print

Bahrain’s sovereign wealth fund expects this year to make its first international acquisition since buying a 30 percent stake in carmaker McLaren Automotive Ltd in 2007.
Mumtalakat, as the fund is called, is looking at more than one foreign company, chief executive officer Mahmood Al Kooheji said today in an interview in Manama. “We have more than one deal in the pipeline and they are at various stages of development,” he said………………………………………..Full Article: Source

Posted on 06 March 2014 by VRS |  Email |Print

Amidst criticisms over non-accretion to fiscal savings such as the foreign reserves and the Sovereign Wealth Fund, even under current account surpluses, the Nigeria Sovereign Investment Authority (NSIA) has established five subsidiaries in a renewed approach to foster multi-sectoral investments in infrastructure, BusinessDay has gathered.
The NSIA, managers of the nation’s $1.5 billion Sovereign Wealth Fund, (SWF), under the new dispensation to ensure accountability for the common wealth of Nigerians, introduced the NSIA Motorways Company Limited, Power investment, Healthcare and Real Estate investments, some of which have commenced operations………………………………………..Full Article: Source

Posted on 06 March 2014 by VRS |  Email |Print

In the coming years, Lebanon could begin to reap the benefits of its offshore oil and gas reserves. These resources could be worth tens of billions of dollars in a country where annual gross domestic product is little more than $40 billion.
This new source of wealth has the potential to completely transform the country’s economy and society. But the dangers are also clear; almost every society that discovers resources ends up less competitive in other key sectors of the economy — the so-called ‘resource curse.’ Whether Lebanon can avoid this or not depends on how it manages sustainable development………………………………………..Full Article: Source

Posted on 06 March 2014 by VRS |  Email |Print

China Investment Corp. reaped returns of more than 8% from its overseas assets last year, according to a top official, indicating a potential weakening in the giant sovereign-wealth fund’s previous bets on commodities and the developing world.
CIC Executive Vice President Liang Xiang didn’t give a specific figure for the returns last year. By comparison, CIC has said it recorded overseas returns of 10.65% in 2012. “Though there was great volatility in the financial market last year, we adjusted our strategy in time and achieved a quite good result,” Ms. Liang said on the sidelines of the National People’s Congress, which opens its annual session on Wednesday………………………………………..Full Article: Source

Posted on 06 March 2014 by VRS |  Email |Print

Sovereign wealth fund China Investment Corp. posted overseas investment returns of more than 8% last year, its executive vice president Liang Xiang said Wednesday. It recorded overseas returns of 10.65% in 2012.
“Though there was great volatility in the financial market last year we adjusted our strategy in time and achieved a quite good result,” Ms. Liang said on the sidelines of the National People’s Congress which opens its annual session on Wednesday………………………………………..Full Article: Source

Posted on 06 March 2014 by VRS |  Email |Print

Australia’s $97 billion Future Fund has upped its exposure to the recovering US real estate market, teaming with Dallas-based group Hillwood, which is controlled by Ross Perot Jr, for a $US1bn ($1.11bn) industrial property partnership.
The pair, which have worked together before, are advancing plans to make direct and indirect investments in industrial real estate, mainly large warehouses, across North America………………………………………..Full Article: Source

Posted on 06 March 2014 by VRS |  Email |Print

Norway’s massive wealth funds are easy to mix up. But both are booming and giving 5 million Norwegian citizens a healthy dollop of security for decades to come.
The oil fund – also known as Norwegian Government Pension Fund Global — is the world’s largest sovereign wealth fund that invests money globally, and its $840 billion is available for unspecified needs of future generations. Last week, the fund said it returned 16% for 2013, the second best performance since its founding in 1996………………………………………..Full Article: Source

Posted on 06 March 2014 by VRS |  Email |Print

The investment of €6.8 billion in commercial projects that are of benefit to the Irish economy is to be overseen by the National Treasury Management Agency over the coming four to five years.
The investment is to occur in tandem with private sector investment and the experience of the agency to date indicates the total invested as a result of the creation of a new fund will be of the order of €12 billion to €15 billion………………………………………..Full Article: Source

Posted on 06 March 2014 by VRS |  Email |Print

Global Logistic Properties Ltd. (GLP), the real estate development firm partly owned by Singapore’s sovereign-wealth fund, agreed to pay BR Properties SA (BRPR3) 3.18 billion reais ($1.36 billion) for assets in Brazil.
GLP is buying 34 industrial and logistic sheds, according to a regulatory filing today by Sao Paulo-based BR Properties, which said it will use the proceeds to reduce debt. The deal depends on approval from antitrust regulators………………………………………..Full Article: Source

Posted on 06 March 2014 by VRS |  Email |Print

The International Forum of Sovereign Wealth Funds announced that it is switching its headquarters from Washington to London. “The decision further reinforces IFSWF’s position as a significant global institution,” said the group, which represents the world’s top sovereign wealth funds.
Sovereign wealth funds are investment vehicles typically controlled by rich countries with trillions of dollars at their disposal ready to invest abroad. The IFSWF was founded in 2009 in Kuwait and brings together 26 leading funds from countries including Australia, Azerbaijan, China, New Zealand, Norway and the United Arab Emirates………………………………………..Full Article: Source

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