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Sovereign Wealth Funds Briefing 29.Apr 2014

Posted on 29 April 2014 by VRS |  Email |Print

Agriculture-related businesses worldwide, from farms in South America to dairy factories in the Netherlands, may soon find themselves in the sights of a new mega investor – China Investment Corp. The mainland’s US$480 billion sovereign wealth fund is seeking to diversify its portfolio after it encountered hurdles while attempting to invest in other sectors, including real estate and technology, sources said.
CIC has been reviewing opportunities this year to invest in agriculture-related businesses, a field in which it has shown less interest in the past, people with a working relationship with the Beijing-headquartered firm said……………………………………….Full Article: Source

Posted on 29 April 2014 by VRS |  Email |Print

Malaysia’s state investor Khazanah Nasional Bhd said late Monday it will buy an 8% stake in Philippine property developer 8990 Holdings Inc. for 2.93 billion Philippine pesos ($65.87 million). The investment marks Khazanah’s first foray into the Southeast Asian nation.
As part of the deal, Khazanah agreed to be a cornerstone investor for 8990 Holdings’ upcoming share offering, Khazanah said in a statement. 8990 Holdings, which is already listed on the Philippine Stock Exchange, is making a follow-on share offering to raise funds for expansion………………………………………..Full Article: Source

Posted on 29 April 2014 by VRS |  Email |Print

The Future Fund has achieved rolling 3 year returns of about 9.5% pa, putting the de facto sovereign wealth fund on par with workplace super funds when the Future Fund’s tax-free and member-free status is taken into account. The $98 billion Future Fund has just released its March 2014 portfolio update and advised that so far this financial year it has earned 9.8% and that it is opening up a big gap over CPI+4.5% performance benchmark.
Preliminary super fund performance results from Rainmaker’s March 2014 SelectingSuper survey shows super fund workplace default investment options to be returning 8.4% pa, indicating the Future Fund’s is on par with these leading institutional investors after allowing for tax and fee differences………………………………………..Full Article: Source

Posted on 29 April 2014 by VRS |  Email |Print

Former Xstrata Plc Chief Executive Officer Mick Davis is studying making a bid for BHP Billiton Ltd. thermal coal and nickel assets after raising funds from investors including Abu Dhabi’s sovereign wealth fund, according to a person with knowledge of the matter.
Davis’s X2 Resources is weighing an offer for the BHP assets after raising as much as $3.75 billion from five investors last month, said the person, who asked not to be named as the information isn’t public………………………………………..Full Article: Source

Posted on 29 April 2014 by VRS |  Email |Print

The preferred bidder for the development of the second River Niger Bridge Project, Julius Berger-NSIA Motorways Investment Company (JB-NMIC), has debunked some media reports suggesting that work on the bridge has been suspended due to non-compliance with environmental laws.
A statement jointly issued by the Managing Director of the Nigerian Sovereign Investment Authority (NSIA), otherwise known as Sovereign Wealth Fund (SWF), Mr. Uche Orji, and his Julius Berger counterpart, Wolfgang Goetsch, on behalf of JB-NMIC Consortium, said the reports represented ‘inaccurate and misconstrued information.’……………………………………….Full Article: Source

Posted on 29 April 2014 by VRS |  Email |Print

The Revenue Watch Institute, (RWI), a New York-based non-governmental organisation with an office in Accra, has stated that, the natural resource fund that the Ghanaian government uses to manage oil revenues is relatively well-governed. A research released by the Institute indicates that the Ghana Petroleum Funds met 13 out of 16 good governance fundamentals.
A Statement from the RWI signed by Lee Bailey, Director of Communications said researchers concluded that the funds feature clear deposit, withdrawal and investment rules, effective oversight, and other essential attributes of good governance………………………………………..Full Article: Source

Posted on 29 April 2014 by VRS |  Email |Print

Yngve Slyngstad, CEO of NBIM Norway’s massive sovereign wealth fund is reviewing its portfolio allocation and risk profile on Russia. NBIM Chief Executive Officer Yngve Slyngstad told reporters in Oslo that in regard to Russian investments, “We are at any given time also considering conditions that have dimensions of geopolitics and geopolitical risk.”
Given the threat of sanctions from the West, institutional investors are growing cautious about their Russian investments. For example, in July 2013, the California Public Employees’ Retirement System (CalPERS) acquired a stake in Moscow’s 2.2 million-sqft Metropolis Shopping and Entertainment Mall through the Hines CalPERS Russia Long Term Hold Fund………………………………………..Full Article: Source

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