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Sovereign Wealth Funds Briefing 13.Jun 2014

Posted on 13 June 2014 by VRS |  Email |Print

Yu Bin, a former managing director at China’s sovereign wealth fund, plans to start a fund focused on China equities, sources said. Yu resigned from Beijing-based China Investment Corp (CIC) earlier this year for personal reasons, they said. He will remain based in China and his long-biased fund will primarily bet on stocks whose prices are expected to rise, they said.
Institutional investors globally have been scouting for China-based managers with international experience, who can pick stocks set to benefit from growth in the world’s second-largest economy and do not charge hedge-fund fees that are typically higher………………………………………..Full Article: Source

Posted on 13 June 2014 by VRS |  Email |Print

Meiji Seika Pharma, a part of Meiji Holdings Co. Ltd, has signed a deal to acquire Medreich Ltd, a Bangalore-based contract manufacturing pharmaceutical company, for $290 million (Rs 1,720 crore). This acquisition will also mark an exit for Singapore’s sovereign fund Temasek, which had invested in the company way back in 2005.
One source said Temasek held close to 33 per cent in Medreich, which it had picked through an allotment nine years ago for around Rs 112 crore ($25 million). This means it is exiting with 5.1x in local currency and 3.9x in dollar terms in its nine-year-old bet on the firm………………………………………..Full Article: Source

Posted on 13 June 2014 by VRS |  Email |Print

Billions of taxpayers’ money are at risk of being used to buy stocks, bonds, debts and properties under a proposed amendment to a tax law allowing for an investment panel that could be as secretive as 1MDB, PKR lawmaker Wong Chen (PKR- Kelana Jaya) said.
“What if our tax money is used to buy shares to support and prop up a crony company? What if the investment panel decides to support the opaque and questionable 1MDB listing?” he said in referring to state-owned sovereign fund which is planning to raise US$4.6 billion (RM15 billion) through an initial public offering of its power-generation assets………………………………………..Full Article: Source

Posted on 13 June 2014 by VRS |  Email |Print

Japanese fund manager Nomura Asset Management has launched an office in Dubai International Financial Centre (DIFC) after its business in the region more than doubled in the past five years.
The Japan-based global asset manager has been managing sovereign wealth fund assets for over 25 years and globally it has $291 billion of assets under management………………………………………..Full Article: Source

Posted on 13 June 2014 by VRS |  Email |Print

Several sovereign wealth funds (SWF) and overseas pension funds are rushing to invest in India, driven by hopes of economic recovery under a new stable government. At least three sovereign funds from West Asia have invested over $5 billion in the past eight months and one global pension fund has committed to invest $450 million.
Two other funds are scouting for investments in India’s real estate and infrastructure developers. “Risk of returns are out of the way and these funds can invest capital for longer tenure,” said the head of a realty fund, which has received investments from two SWFs in West Asia. Private equity (PE) experts say a trend is visible of both SWF and pension funds investing heavily in the past six months………………………………………..Full Article: Source

Posted on 13 June 2014 by VRS |  Email |Print

Norway’s oil fund may be forced to divest its 250m kroner stake in the Thai food company CP Foods, after the UK’s Guardian newspaper reported that the company sources prawns from ships that employ slave labour.
According to Norway’s Aftenposten newspaper, the Government Pension Fund of Norway, as the oil fund is known, holds a 0.54 percent stake in the company, making it one of the largest international shareholders………………………………………..Full Article: Source

Posted on 13 June 2014 by VRS |  Email |Print

Norway’s Ambassador to Harare Mr Bard Hopland said: “We discussed also, in general, Norwegian experience within the area of natural resources management and management of revenue from natural resources, the Sovereign Wealth Fund, as you may know.”
“If you might know, we have already provided experts in this field who were here in March and participated in the parliamentary seminar on Zim-Asset and we will also continue to discuss with the Minister of Finance how we could follow up on the issue of natural resources management and the Norwegian experience in that regard.”……………………………………….Full Article: Source

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