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Sovereign Wealth Funds Briefing 08.Aug 2014

Posted on 08 August 2014 by VRS |  Email |Print

Sovereign-wealth funds are putting more money to work through direct investing than at any time since 2008, as investors look to boost returns and bypass fees charged by fund managers.
According to a report from the Sovereign Wealth Fund Institute -an organization which tracks the activity of state funds-the value of global direct deals by sovereign-wealth funds hit $50.02 billion in the first half of 2014. This was a 23.1% increase on comparable transactions in the first half of last year, and up from roughly $35 billion put to work in the first half of 2012………………………………………..Full Article: Source

Posted on 08 August 2014 by VRS |  Email |Print

Sovereign wealth funds are putting more money to work through direct investing than at any time since 2008, as giant state-investment funds look to bypass fees charged by fund managers. Figures from the Sovereign Wealth Fund Institute show that levels of direct investment hit over $50 billion during the first half of the year, up 23% on a year ago and just shy of the previous six-month record set in 2008.
That year a number of state funds from Asia and the Middle East took large stakes in banks, including the UK’s Barclays, which were rushing to raise funds as the financial crisis took hold. Since then, sovereign wealth funds and other large, sophisticated investors have been looking to bypass fees charged by the fund managers and private equity funds with whom they have traditionally allocated money………………………………………..Full Article: Source

Posted on 08 August 2014 by VRS |  Email |Print

Norway’s sovereign wealth fund will start issuing public statements, to declare which way it intends to vote on issues being presented at companies’ annual meetings, the fund told the Financial Times. “We think this (move) will contribute to the transparency of how we manage the fund and assess questions for voting,” the paper quoted the institution as saying.
The fund, which is run by Norges Bank Investment Management, is known for questioning executive pay and accountability at companies in which it owns a stake………………………………………..Full Article: Source

Posted on 08 August 2014 by VRS |  Email |Print

Norway’s sovereign wealth fund was the single largest shareholder to vote against Italian carmaker Fiat’s merger with its U.S. unit Chrysler, according to minutes of the Aug. 1 shareholder meeting.
Norges Bank, which registered for the shareholder meeting with a 2.15 percent stake, declined to say on Thursday why it voted against the tie-up or whether it would exercise its right as a dissenting investor to sell its shares in Fiat………………………………………..Full Article: Source

Posted on 08 August 2014 by VRS |  Email |Print

In its report for August, Euromoney magazine said that the Abu Dhabi Investment Authority (ADIA) is the most open sovereign wealth fund in the Gulf region, following the fund’s recently published fifth annual report. Examining ADIA’s hiring trends over the past few years affirms the idea that ADIA seeks to bolster its in-house efficiency.
According to Euromoney’s official website, ADIA, in 2013, recruited its first ever global head of internal equities AllianceBernstein veteran Gregory Eckersley, with responsibility for overseeing all internally managed active equity portfolios………………………………………..Full Article: Source

Posted on 08 August 2014 by VRS |  Email |Print

The National Pension Service (NPS), South Korea’s sovereign wealth fund, will invest 400 billion Korean won (US$386 million) into a fund managed by Hamilton Lane, a US-based private equity firm. In April this year, the US house closed its Private Equity Fund VIII, a fund of funds vehicle with $426.8 million AUM, which exceeded its target size of $400 million.
In June, the NPS, which manages 436 trillion won, hired a US-based adviser for real estate investment in Asia, in order to further its exposure in a space expected to generate higher returns. Boosting property investment is part of the Seoul-based agency’s plan to increase its proportion of alternative investments - including infrastructure, property and private equity - to 11.3% of assets in 2014………………………………………..Full Article: Source

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