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Sovereign Wealth Funds Briefing 04.Sep 2014

Posted on 04 September 2014 by VRS |  Email |Print

Singapore’s GIC is taking the unusual step of investing directly in unlisted firms, a move bankers say will be mimicked by other sovereign wealth funds as low yields spur fund managers to adopt a more hands-on attitude in their search for higher returns.
In the first half of this year, GIC agreed to pay up to $310 million for minority stakes in two unlisted Philippine companies: food producer Century Canning Corp and hospital group Metro Pacific Investment Corp………………………………………..Full Article: Source

Posted on 04 September 2014 by VRS |  Email |Print

Malaysian state investment fund Khazanah Nasional Bhd. is seeking to raise $500 million from the sale of bonds that can be converted into shares of power company Tenaga Nasional Bhd., people familiar with the deal said Wednesday. The bond sale comes as Khazanah is preparing to embark on a restructuring of embattled flagship carrier Malaysia Airlines after the loss of two passenger planes this year. Khazanah scrapped a plan to raise up to $750 million in convertible bonds in Tenaga in June because of lower-than-expected pricing.
“Proceeds from the sale will be used for general working capital and to monetize its holdings in Tenaga,” one of the people said, noting that the seven-year bond offering could be increased to $600 million………………………………………..Full Article: Source

Posted on 04 September 2014 by VRS |  Email |Print

Khazanah Nasional Bhd is considering broader investment opportunities in Eastern Europe, following the opening of its office in Istanbul, Turkey, last November. Executive Director and Chief Financial Officer Mohd Izani Ghani said the office was established to tap investment opportunities around Turkey, North Africa and Eastern Europe.
He, however, said Khazanah planned to issue a foreign currency sukuk in the region but this cannot be realised yet as it had no assets in Eastern Europe. “We haven’t quite covered Europe yet as an investment haven………………………………………..Full Article: Source

Posted on 04 September 2014 by VRS |  Email |Print

Chinese money has been pouring into the domestic stock market, with investors net purchasing 1.9 trillion won ($1.86 billion) in shares this year to surpass the United States as the No. 1 foreign country investing in Korea. Capital inflow from China comes in three ways: its sovereign wealth fund, the social security fund and QDIIs.
Among sovereign wealth funds worldwide, China’s are growing fast with three in the top 10: China Investment Corporation (CIC) in fourth place at $652.7 billion, the State Administration of Foreign Exchange (SAFE) fifth at $567.6 billion and the National Social Security Fund (NSSF) ninth at $201.6 billion. About 40 percent of CIC’s funds is in stocks………………………………………..Full Article: Source

Posted on 04 September 2014 by VRS |  Email |Print

Central Huijin Investment Ltd., the state-owned holding company for China’s largest financial institutions, is seeking European bank investments to diversify its domestic holdings, vice-chairman Li Jiange said on Wednesday.
“When we invest in China, efficiency and investment return has gone down,” Jiange said at a banking conference in Germany. “If we can then expand abroad, then we are highly interested in looking into European banks,” he said, speaking through a translator. “We would really be interested in profitable objects.”……………………………………….Full Article: Source

Posted on 04 September 2014 by VRS |  Email |Print

Abu Dhabi Investment Authority (ADIA), one of the world’s largest sovereign wealth funds, has named Brian Tipple as its first global head of external equities.
Tipple, previously chief investment officer at US-based Key Private Bank, will help to develop and implement strategy for ADIA’s external equities department and oversee all externally managed portfolios, a statement from the fund said on Wednesday. Around 75 percent of ADIA’s assets are managed by external fund managers, according to its 2013 annual report………………………………………..Full Article: Source

Posted on 04 September 2014 by VRS |  Email |Print

Angola’s fledgling sovereign wealth fund has identified direct investments in sub-Saharan Africa, and is poised to start deploying up to a third of the $5 billion it has been endowed by the government, its chairman said. Jose Filomeno dos Santos said the fund had set up a series of special purpose vehicles to identify opportunities in commercial infrastructure, energy, mining, agriculture and real estate.
He was speaking to Reuters in London as the Fundo Soberano de Angola (FSDEA), set up in 2012 to invest Angola’s oil wealth, announced it now has assets of $5 billion following a final top-up of $1.35 billion made in June………………………………………..Full Article: Source

Posted on 04 September 2014 by VRS |  Email |Print

Azerbaijan’s state oil fund SOFAZ has gained over $105.802 billion from 2001 to September 1, 2014 by implementing the project of developing the giant Azeri-Chirag-Gunashli (ACG) block of oil and gas fields in the Azerbaijani sector of the Caspian Sea.
“The fund received $10.77 billion from January to September 1, 2014 within the framework of ACG project,” SOFAZ told Trend Agency on September 2. The ACG block of fields has been active since 1997. Production started from the Chirag part of the field. It was followed successfully by Azeri Project; Central Azeri production in February 2005, West Azeri in December 2005, and East Azeri in October 2006………………………………………..Full Article: Source

Posted on 04 September 2014 by VRS |  Email |Print

Thanks to natural resources, Norway is a country of five million trustifarians – with each person theoretically being a millionaire. In Australia, mining benefits a selected few. Norway’s government Pension Fund Global was created in 1990 to make the most of the windfall of striking oil in the North Sea. Companies looking to extract Norwegian oil pay handsomely for the privilege.
The Norwegian government sums up the fund with the rather lengthy fortune cookie-like phrase “One day the oil will run out, but the return on the fund will continue to benefit the Norwegian population.” The bulging sovereign wealth fund, managed by the Norwegian government, is set to top $1trn within this decade. At the end of 2013, its value stood at 5.2trn kroner – that’s $903.4bn………………………………………..Full Article: Source

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