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Sovereign Wealth Funds Briefing 27.Aug 2014

Posted on 27 August 2014 by VRS |  Email |Print

Singapore sovereign wealth fund GIC, which manages more than $100 billion of the city-state’s foreign reserves, warned in its annual report of a tough investment outlook over the next decade as global central banks withdraw ultra-easy monetary policies. According to GIC, prices of all major asset classes have been inflated by the massive stimulus measures, and now face weak future returns.
“Global financial markets have been recovering strongly from the 2008/09 global financial crisis, supported by low interest rates and unconventional monetary policies,” GIC indicated in the report. As central banks unwind monetary stimulus measures and interest rates increase, “financial assets will see diminished returns”, it said………………………………………..Full Article: Source

Posted on 27 August 2014 by VRS |  Email |Print

State asset manager Khazanah Nasional Bhd has approved the comprehensive restructuring plan for the loss-making Malaysia Airlines that will see up to 6,000 jobs disappear, say sources. The plan will be discussed by the Cabinet today, a day after the Khazanah board had a meeting chaired by the sovereign wealth fund’s chairman Prime Minister Datuk Seri Najib Razak.
“The plan has been approved, now its up to the Cabinet,” a source said. The centrepiece of the plan will include shaving off thousands of jobs, as well as putting in place opportunities for re-training and placing out staff members, and drawing up retrenchment packages in the loss-making flag carrier………………………………………..Full Article: Source

Posted on 27 August 2014 by VRS |  Email |Print

Public spending could get a boost in Norway after it was revealed the country’s sovereign wealth fund could reach six trillion kroner ($973 billion), the Norwegian government said on Monday. The Norwegian oil fortune by the end of 2014 is estimated to grow several hundred billion kroner larger than the government predicted in May this year. Dagens Næringsliv reported on Monday the extra revenue is around 500 billion kroner above earlier estimates.
Prior to the budget conference to be held in Oslo on Wednesday and Thursday this week, government officials were given secret files highlighting the large growth in Finance Minister Siv Jensen’s wealth fund………………………………………..Full Article: Source

Posted on 27 August 2014 by VRS |  Email |Print

Norway’s sovereign wealth fund is growing far faster than expected, potentially leaving the government with more money to spend in next year’s budget, financial daily Dagens Naeringsliv reported on Tuesday.
The fund’s value could hit almost 6 trillion Norwegian crowns ($973 billion) by the end of the year, according to a new government forecast cited by the paper. That compares with a year-end estimate of 5.48 trillion crowns made in May. The newspaper gave no explanation for the discrepancy, but the fund invests heavily in foreign stock markets, many of which have been trading around multi-year highs………………………………………..Full Article: Source

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