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Sovereign Wealth Funds Briefing 18.Aug 2014

Posted on 18 August 2014 by VRS |  Email |Print

Norway’s $880 billion sovereign wealth fund can’t be allowed to chase riskier assets until lawmakers fix the oversight gaps that emerged in connection with its purchase of Formula One shares, according to the biggest party in the nation’s parliament.
“The Formula One case was quite an eye-opening experience for politicians who are dealing with issues regarding this fund,” Marianne Marthinsen, the Labor Party’s finance spokeswoman, said in an interview in Oslo on Friday. “It illustrates that we need a strong system of monitoring.”……………………………………….Full Article: Source

Posted on 18 August 2014 by VRS |  Email |Print

Private equity has generated an 8.6% return during 2013 for Korea Investment Corp.the lowest among all alternative asset classes that the Korean sovereign wealth fund invests in, KIC’s most recent annual report shows. The $72-billion fund is the latest sovereign wealth fund to release annual reports this month, following its counterparts in China and Singapore. Those reports offer a rare window into performance of historically secretive sovereign wealth funds, which are increasingly flexing their muscle in the private equity industry both as fund investors and as direct deal makers.
KIC got into private equity investing in 2009, and in 2010, entered real estate and hedge funds. According to its annual report, private equity has generated lower returns than the other two asset classes, on all three metrics that KIC uses to measure returns. For 2013, private equity returned 8.6%, compared with 9% and 9.5% for hedge funds and real estate, respectively………………………………………..Full Article: Source

Posted on 18 August 2014 by VRS |  Email |Print

Singapore’s two investment funds, GIC and Temasek, have emerged as the biggest state-backed investors in technology, telecoms and ecommerce in the past 12 months, ploughing a combined $3bn into the sectors. That dwarfs investment by their global peers, which have committed about $200m, says the Sovereign Wealth Center, which tracks sovereign wealth fund activity globally.
Moves include GIC’s investment last month in Flipkart, India’s largest eretailer, and Temasek’s purchase in May of a stake in China’s JD.com, an Amazon-like ecommerce site that competes head-to-head with Alibaba………………………………………..Full Article: Source

Posted on 18 August 2014 by VRS |  Email |Print

The current exponential growth being witnessed across African economies has got investors worldwide seeking to take part in the continent’s emergence. As a result, the African economic landscape is dotted with more and more wealth funds and investment companies, one of which is Temasek Holdings, the Singaporean sovereign wealth fund.
Incorporated by the government in 1974, ownership and management of the government’s investments on a commercial basis were transferred to Temasek to allow the government prioritize policy making. Among these investments were the Economic Development Board’s stakes in local and foreign private investment sectors and the companies acquired or established by the government………………………………………..Full Article: Source

Posted on 18 August 2014 by VRS |  Email |Print

Temasek Holdings has bought into two United States-listed Chinese technology firms, signalling its intent to continue its diversification away from bank holdings. Temasek, directly or through its units, bought 602,139 American Depositary Receipts (ADR) of China’s second-largest e-commerce site JD.com with a market value of US$17.2 million (S$21.4 million), showed a filing with the US Securities and Exchange Commission on Thursday.
It also purchased a net 603,764 ADRs in security software maker Cheetah Mobile, valued at US$12.8 million. Both companies were listed in May. The transactions help Singapore’s investment firm extend its reach in the world’s second-largest economy and ease its reliance on the nations’ banks. While two of Temasek’s six-biggest listed global holdings by market value are still Chinese lenders, it also acquired stakes in consumer-related firms this year and last………………………………………..Full Article: Source

Posted on 18 August 2014 by VRS |  Email |Print

The Government of Singapore Investment Corporation (GIC) has acquired an 18.5% stake in Brazilian education company Abril Educacao for an undisclosed price, in its latest move to increase exposure to Latin American assets. Based on the closing share price of Abril, a leading player in the Brazilian primary and secondary education market, on August 14, the stake was worth about US$265 million.
Abril employs about 7,000 staff and operates schools in Sao Paulo and Rio de Janeiro, as well as publishing textbooks and providing learning systems. It focusses on the so-called K-12 segment, which covers primary and secondary education………………………………………..Full Article: Source

Posted on 18 August 2014 by VRS |  Email |Print

Azerbaijan’s state oil fund SOFAZ intends to invest in the Chinese market with the government debt securities, SOFAZ said. China as the second largest economy in the world remains an attractive market for the growing number of foreign investors. Prospects of the Chinese Yuan as an additional investment currency attract considerable interest of various categories of investors, including sovereign wealth funds.
“SOFAZ has recently applied to the People’s Bank of China to use broad investment opportunities in the Chinese market,” SOFAZ said………………………………………..Full Article: Source

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