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Sovereign Wealth Funds Briefing 26.Mar 2014

Posted on 26 March 2014 by VRS |  Email |Print

Sovereign wealth funds see emerging market turbulence as a long term buying opportunity, but are wary of excessive exposure via some of their Western holdings such as luxury goods makers, a top investment official at Franklin Templeton said.
David Smart, who heads a team managing around $85 billion for sovereign funds and supranational clients at Templeton, said the $5 trillion sector can afford to ride out volatile swings thanks to its long-term horizons………………………………..Full Article: Source

Posted on 26 March 2014 by VRS |  Email |Print

Abu Dhabi’s Mubadala Development has announced the creation of a €300 million (Dh1.51 billion) investment platform in conjunction with CDC International Capital (CDC I Capital), the investment arm of France’s sovereign wealth fund Caisse des Dépôts.
The agreement between the two parties was signed in Paris on Tuesday, each agreeing an initial commitment of €150m. Mubadala said the as-yet unnamed platform “has been created to target attractive long term returns through investments across a diverse range of sectors, primarily in France”………………………………..Full Article: Source

Posted on 26 March 2014 by VRS |  Email |Print

As Zimbabwe forges ahead towards creating a Sovereign Wealth Fund, observers fear the ZANU PF government is not ready for such an undertaking given its history of economic mismanagement.
Ideally the fund is supposed to be created through pooling together profits from the exploitation of non-renewable resources, such as minerals, into a savings pot for use by future generations. The idea is to harness excess wealth from depleting resources so that it can be enjoyed by future generations………………………………..Full Article: Source

Posted on 26 March 2014 by VRS |  Email |Print

The federal government yesterday informed the Supreme Court that the out-of-court settlement with the 36 states of the federation over dispute arising from the maintenance of the Excess Crude Account and the transfer of $1 billion from the account to the Sovereign Wealth Fund (SWF) has collapsed.
After the apex court was told that talks between the parties involved in the matter had broken down, the presiding justice of Supreme Court (JSC) Walter Onnonghen set the case down for definite hearing on September 23, 2014………………………………..Full Article: Source

Posted on 26 March 2014 by VRS |  Email |Print

The Supreme Court in Nigeria has been told that the out-of-court settlement between the Federal Government and the 36 states of the federation over the dispute arising from the maintenance of the Excess Crude Account and the transfer of one billion dollars from the account to the Sovereign Wealth Fund (SWF) has collapsed for the second time.
At the resumed hearing, counsel to the Federal Government, Austin Alegeh, told the court that settlement between parties have collapsed and in view of that brought an application requesting that the court should amend his statement of defence. Lawyer to the state governors, Mr Adegboyega Awomolo, however, told the court that the application filed by the Federal Government was only a ploy to delay the hearing of the suit………………………………..Full Article: Source

Posted on 26 March 2014 by VRS |  Email |Print

The Federal Government on Monday briefed the Supreme Court about its inability to reach an amicable settlement with governors of the 36 states in the dispute over the maintenance of the Excess Crude Account and its plan to move $1 billion from the account for the establishment of the Sovereign Wealth Fund (SWF).
Lawyer to the Federal Government, Austin Alegeh told the court that the office of the Vice President, saddled with the co-ordination of the settlement meeting, briefed him that the settlement has failed to yield any desired result. The court had delayed hearing in the case to enable parties explore the out-of-court settlement option………………………………..Full Article: Source

Posted on 26 March 2014 by VRS |  Email |Print

Singapore’s sovereign wealth fund GIC has sunk $63m (£38m) into Loughborough-headquartered Intelligent Energy Holdings, the company’s second major fundraising in the past six months.
Intelligent Energy provides efficient and clean energy technology for the consumer electronics, automotive and stationary power markets. It develops fuel-cell technology powered by hydrogen, which is zero emission………………………………..Full Article: Source

Posted on 26 March 2014 by VRS |  Email |Print

International companies, pension funds and sovereign wealth funds are ready and willing to invest in the Australian farm sector, but many parts of the industry are still not investment-ready and lack the depth in management to facilitate deals.
“China Investment Corporation (China’s giant sovereign wealth fund) would like to do deal sizes of minimum $500 million,” said CBRE Asia regional director Danny Thomas. He added that because Chinese companies often only wanted to take a 50 per cent interest in deals, the transaction had to be worth at least $1 billion………………………………..Full Article: Source

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