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Sovereign Wealth Funds Briefing 30.Apr 2014

Posted on 30 April 2014 by VRS |  Email |Print

In a blow for the US efforts to galvanise international support for economic sanctions on Russia, Moscow has announced a new investment deal with Bahrain’s sovereign wealth fund - whose assets include the British sports car maker McLaren Group. The Russian Direct Investment Fund (RDIF) said on Tuesday that it had reached an agreement with Mumtalakat - the investment arm of the Persian Gulf state - to promote investment co-operation.
The deal is potentially an embarrassing snub for the US government and President Barack Obama, given the vital role Bahrain plays in American defence strategy in the region. Manama, the capital of Bahrain, serves as the main operating base of the US Fifth Fleet in the Gulf and a vital American military facility in the region………………………………………..Full Article: Source

Posted on 30 April 2014 by VRS |  Email |Print

State-backed funds from Kuwait and Singapore were among 16 investors given large allocations of Royal Mail shares as part of the company’s contentious £3.3bn privatisation.
Sky News can reveal that the Kuwait Investment Office and the Government Investment Corporation of Singapore (GIC) were among the funds labelled by the National Audit Office (NAO) as ‘priority investors’ in a report which criticised ministers’ handling of the postal operator’s sell-off……………………………………….Full Article: Source

Posted on 30 April 2014 by VRS |  Email |Print

Kazakhstan’s sovereign wealth fund has drawn up a privatisation programme, planning to sell off state-controlled assets in the oil and gas, nuclear and railway industries worth around $10 billion by 2020. Companies within Samruk-Kazyna also plan to borrow about $8 billion on domestic and foreign markets in the next two years to help fund their projects, the fund’s Financial Director Nurlan Rakhmetov told Reuters in an interview.
Samruk-Kazyna manages nearly 600 assets worth around $100 billion. Its assets include national oil and gas company KazMunaiGas, state uranium company Kazatomprom and state railway company Kazakhstan Temir Zholy………………………………………..Full Article: Source

Posted on 30 April 2014 by VRS |  Email |Print

The taxpayer-owned Future Fund is on the cusp of passing the $100 billion threshold for assets under management, cementing its position as one of the world’s largest sovereign wealth funds. Propelled by rising equity markets, the fund returned 9.8 per cent in the year to March, with quarterly returns of 1.1 per cent, it said on Tuesday.
The rise meant it held $97.6 billion in assets at the end of last month. The federal government has contributed $60.5 billion to the fund since its formation in 2006, and the rest of its assets have come from investment returns………………………………………..Full Article: Source

Posted on 30 April 2014 by VRS |  Email |Print

Khazanah Nasional Bhd has agreed to be a cornerstone investor in Philippine-listed mass housing developer 8990 Holdings Inc, paying 2.93bil pesos (RM215mil) for an 8% stake. This is its first investment into a Filipino company.
The sovereign wealth fund said it had signed a cornerstone investment agreement, via special purpose vehicle Pasir Salak Investments Ltd, for 8990’s upcoming follow-on share offering. According to Khazanah, 8990 Holdings caters to the low-income group with homes priced between RM33,000 and RM92,000 in districts such as Cebu, Davao, Iloilo, Cavite and Pampanga………………………………………..Full Article: Source

Posted on 30 April 2014 by VRS |  Email |Print

1Malaysia Development Bhd (1MDB) says substantial portions of its overseas funds have gradually made their way back to Malaysia to be reinvested in energy projects and real estate, and meet financial obligations.
The funds had been earmarked for the development and acquisition of specific assets, 1MDB said yesterday in response to allegations it had been involved in questionable deals, and amid calls that it should bring home RM18.1 billion parked overseas, as claimed by certain news reports. The sovereign wealth fund said the monies invested abroad is an interim measure, such as the funds in Cayman Islands that is regulated by the Cayman Monetary Authority………………………………………..Full Article: Source

Posted on 30 April 2014 by VRS |  Email |Print

China Investment Corporation (CIC) has been a major institutional investor allocating capital to external managers, funds and assets. SWFI staff has compiled a brief list of recent pet peeves from observations through research and financial media.
Trying to chase yield, institutional investors have been gobbling up large illiquid properties globally. In 2013, sovereign wealth funds directly invested US$ 19.25 billion into the real estate sector. Granted in November 2012, the China Investment Corporation bought the 310,000 sqft Winchester House for £245 million from KanAm the Asian sovereign wealth fund is cautious in regard to London’s perceived property bubble……………………………………….Full Article: Source

Posted on 30 April 2014 by VRS |  Email |Print

NantHealth LLC, a NantWorks company, announced today that one of the world’s largest sovereign wealth funds, the Kuwait Investment Authority (KIA), has invested $100 million in NantHealth, a cloud-based transformational healthcare IT company converging science and technology through a single integrated clinical platform, to provide actionable health information at the point of care, in the time of need.
The investment will be used by NantHealth to accelerate innovation that will enable better patient care and reduced costs - two key factors affecting health care today. The NantHealth Clinical Operating System (cOS), is the first operating system of its kind in healthcare that is based on supply chain principles and grid service oriented architecture that integrates the knowledge base with the delivery system and the payment system, enabling 21st century coordinated care at a lower cost………………………………………..Full Article: Source

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