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Sovereign Wealth Funds Briefing 17.Mar 2014

Posted on 17 March 2014 by VRS |  Email |Print

Norway’s parliament should create an independent committee of financial experts to hold the fund and the Finance Ministry, which oversees it, accountable, Sony Kapoor, director of Re-Define, said.
“Few countries have as big a gap between exposure to the international financial system and expertise on it as Norway,” said Kapoor, a former investment banker who has advised several governments, including Norway’s, and groups such as the World Bank………………………………………..Full Article: Source

Posted on 17 March 2014 by VRS |  Email |Print

Norway Prime Minister Erna Solberg this week announced that the country is to use its $920bn sovereign wealth fund to drive investment in renewable energy projects, confirming that it is to increase its exposure to clean energy companies.
Solberg said the country’s pension fund, which has been built on the country’s oil wealth and is now one of the world’s most powerful institutional investors, will expand its holdings in renewable energy interests. A full announcement on the extent to which the fund will increase its exposure to clean energy is now expected early next month………………………………………..Full Article: Source

Posted on 17 March 2014 by VRS |  Email |Print

Adding to a growing chorus of concerned investors, Norway’s $850 billion Sovereign Wealth Fund announced that they would be reviewing their connection to France’s Total due to their involvement in exploration efforts in the Western Sahara region of Morocco.
Charged with investing Norway’s oil and gas revenue, the fund has made it a point to invest only in ethical companies, excluding controversial investments like tobacco, weapons and landmines, according to a recent Reuters report………………………………………..Full Article: Source

Posted on 17 March 2014 by VRS |  Email |Print

Norway’s sovereign wealth fund is examining the operations of the French oil firm Total in Western Sahara to ascertain whether its activities there are unethical, reported Wednesday Reuters.
The fund, responsible to grow revenue from the exploitation of Norwegian oil and gas reserves, manages a portfolio of more than 600 billion euros, making it one of the largest investors in the world. The fund, which invests Norway’s revenues from oil and gas for future generations, invests only in firms it considers ethical, and has blacklisted 63 firms, including makers of nuclear arms, antipersonnel landmines, cluster bombs and tobacco………………………………………..Full Article: Source

Posted on 17 March 2014 by VRS |  Email |Print

GIC has offered insights into the five guiding principles it uses to ensure its investments achieve the best long-term returns for Singapore. The sovereign wealth fund also said it uses a “heat map” of the globe monitoring the way various markets are performing by using different colours on the map.
The insights were offered by GIC’s chief investment officer, Mr Lim Chow Kiat, when he spoke on Thursday at the Investment Management Association of Singapore annual conference at Raffles City Convention Centre. Even though there may be “short-term temptations”, GIC’s mission to safeguard and enhance the nation’s reserves for the long haul is never forgotten, he noted……………………………………….Full Article: Source

Posted on 17 March 2014 by VRS |  Email |Print

A Temasek-led shareholders group has offered to pay $2.1 billion in cash for shares in Olam International Ltd (OLAM.SI) they don’t already own, putting the heft of the Singapore state investor behind the commodity trading firm’s weak balance sheet.
The proposal comes after a tumultuous stretch for Olam, one of the world’s leading traders in rice, coffee and cocoa, that saw it come under attack from short-seller Muddy Waters in late 2012 for its accounting practices………………………………………..Full Article: Source

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