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Sovereign Wealth Funds Briefing 15.Jul 2014

Posted on 15 July 2014 by VRS |  Email |Print

News that Abdulmagid Breish has been removed from his position as chairman of the Libyan Investment Authority brings yet another tortuous diversion to the troubled institution’s management. But does it make much of a difference to the fund’s ambitions?
Breish was asked to leave his position because of an inquiry under Libya’s Political Isolation Law, a piece of legislation brought in last year that prohibits those who held high office with the Gaddafi administration from serving in senior roles in the post-revolutionary government………………………………………..Full Article: Source

Posted on 15 July 2014 by VRS |  Email |Print

Temasek Holdings Pte Ltd has increased its exposure to Chinese markets over the past year, even as Asia holdings weighed on its performance and the Singaporean investor turned to the West for growth.
The sovereign wealth fund’s holdings of China assets rose to 25 percent in the fiscal year that ended March 31, up from 23 percent year-on-year, according to a statement it released on July 8. China continued to be the top destination for Temasek’s global portfolio after Singapore, which accounted for 31 percent of its portfolio………………………………………..Full Article: Source

Posted on 15 July 2014 by VRS |  Email |Print

Singapore’s sovereign wealth fund Temasek Holdings and American asset management firm Blackstone Group both maintain a positive outlook for the Chinese economy despites its slowing growth, reports the Shanghai Securities News. Both of the companies’ senior managers said markets have been overly concerned with China’s slower growth and predicted that a major financial crisis is unlikely to take place in the country.
Stephen Allen Schwarzman, Blackstone Group’s founder, said some investors have stopped or suspended their investments in the country after it shifted down the gears. However, his firm has seen it as a great opportunity and spent US$539 million to buy Chinese software company Pactera Technology International………………………………………..Full Article: Source

Posted on 15 July 2014 by VRS |  Email |Print

The New Zealand Superannuation Fund (NZSF), via Waterman Capital, in May 2012 took a stake in natural health products company Manuka Health New Zealand Ltd. Waterman Capital is a private equity investor contracted by NZSF – the New Zealand Government’s sovereign investment fund – to invest in New Zealand’s most promising companies. Watermans owns 20% of Manuka Health.
Kerry Paul, Manuka Health’s Chief Executive, said Waterman’s investment was a welcome acknowledgement of Manuka’s strong growth path………………………………………..Full Article: Source

Posted on 15 July 2014 by VRS |  Email |Print

CIMB’s plans to merge with RHB Capital and Malaysia Building Society to create Malaysia’s biggest bank by asset size, is a puzzling move. CIMB and RHB had previously ditched plans to merge because their businesses overlap.
CIMB’s chief executive Datuk Seri Nazir Razak is expected to step down to become the chairman of the bank. He will also be joining the board of Khazanah, Malaysia’s biggest sovereign wealth fund. Khazanah has 25 per cent of CIMB, and according to speculation would have a 20 per cent stake in the merged CIMB, RHB MBSB………………………………………..Full Article: Source

Posted on 15 July 2014 by VRS |  Email |Print

The nation’s two biggest pension funds reported investment gains of at least 18% for the fiscal year ending June 30, bolstering their coffers even as they continue to battle persistent shortfalls.
The two California funds, California Public Employees’ Retirement System and the California State Teachers’ Retirement System, benefited from a stock-market surge as their investments in domestic and international equities notched returns of nearly 25%—higher than internal goals set by both funds. ……………………………………….Full Article: Source

Posted on 15 July 2014 by VRS |  Email |Print

Masraf Al Rayan announced yesterday it has entered into an agreement to sell its equity stake in Seef Lusail Real Estate Development Company. Seef Lusail Real Estate Development Company WLL was owned equally by Masraf Al Rayan and Qatari Diar Infrastructure Company.
In line with the agreement between the parties, Masraf Al Rayan has sold its 50 percent equity stake in Seef Lusail to Qatari Diar Infrastructure Company (49 percent) and Qatari Diar Real Estate Investment Company (1 percent). Adel Mustafawi,Group CEO of Masraf Al Rayan stated that this investment has achieved its objectives as planned………………………………………..Full Article: Source

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