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Sovereign Wealth Funds Briefing 12.Oct 2011

Posted on 12 October 2011 by VRS |  Email |Print

Vladimir PutinChina’s sovereign-wealth fund agreed to invest $1 billion in a Kremlin-backed investment vehicle during a visit by Russian Prime Minister Vladimir Putin, though the two sides still appear to be unable to resolve long-delayed negotiations over planned natural-gas pipelines between the countries.
China Investment Corp.’s agreement marks the first commitment by an investor to the Russian Direct Investment Fund, a private-equity vehicle set up in June by Mr. Putin and President Dmitry Medvedev as a way to spur foreign investment in Russia even as widespread political, economic and other investor concerns have caused foreign capital to dry up……………………………………….Full Article: Source

Posted on 12 October 2011 by VRS |  Email |Print

Kirill DmitrievA senior Russian investment official has forecast a profitable future for cooperation between Russian Direct Investment Fund (RDIF) and China Investment Corporation (CIC).
In a recent interview with Xinhua, RDIF Chief Executive Officer Kirill Dmitriev said Russian Prime Minister Vladimir Putin’s China visit on Tuesday and Wednesday would significantly facilitate the tangible cooperation between the two countries, including that between the RDIF and CIC……………………………………….Full Article: Source

Posted on 12 October 2011 by VRS |  Email |Print

The Chinese government is using its sovereign wealth fund to bolster the share prices of the big Chinese banks as they struggle with a weakening property sector and a build-up of bad debts.
The official announcement didn’t reveal the size of the investment, only that it was being done with the explicit aim of supporting key financial institutions and putting a floor under the share price……………………………………….Full Article: Source

Posted on 12 October 2011 by VRS |  Email |Print

China’s state controled sovereign wealth fund has begun investing in the country’s banks after shares hit a 30-month low.
In a move to prop up stabilise the financial sector, Central Huijin, the domestic arm of China’s sovereign wealth fund, started buying shares yesterday to help stabilise key parts of the country’s financial system………………………………………Full Article: Source

Posted on 12 October 2011 by VRS |  Email |Print

Some people in Singapore have openly shared and discussed their own ideas on blogs and discussion forums of why and how the Government of Singapore Investment Corporation (GIC) does what it does and should do what it should do.
Many of the suggestions are well-intentioned and GIC takes them in our stride just as we are open to multitudes of ideas from all over the world……………………………………….Full Article: Source

Posted on 12 October 2011 by VRS |  Email |Print

Singapore-based Parkway Holdings has emerged as a favoured bidder for Sterling Hospitals, an Ahmedabad-based group controlled by private equity player Actis, one person involved in the talks said.
Parkway, which is owned by Khazanah Nasional Bhd, Malaysia’s sovereign wealth fund, scored over South India-based Manipal Health Enterprises, the other bidder. “We have been informed that our bid is not (being) considered,” Manipal CEO Rajen Padukone said……………………………………….Full Article: Source

Posted on 12 October 2011 by VRS |  Email |Print

Strong indications emerged yesterday that after a meeting of well over five hours, the thirty-six state governors under the aegis, Nigeria Governors’ Forum may dump the proposed Sovereign Wealth Fund, SWF by the Federal government.
The governors at the end of the meeting which took place at the Rivers State Governor’s Lodge, Asokoro, Abuja, could not arrive at a definite resolution on the matter as the meeting was inconclusive, just as they also after the meeting drove to Villa for another brainstorming exercise with President Goodluck Jonathan on issues relating with SWF, constitutional amendment, excess crude account, among others……………………………………….Full Article: Source

Posted on 12 October 2011 by VRS |  Email |Print

After meeting for over six hours at the Rivers State Lodge, in Abuja yesterday, the 36 state governors failed to reach a common ground, on the Sovereign Wealth Fund, the take-off of which they are opposing.
The governors, under the aegis of the ‘ Governors Forum’ had at a meeting last week, with finance minister Okonjo Iweala, leading the federal government delegation, tried to reach agreement on the operation of the fund……………………………………….Full Article: Source

Posted on 12 October 2011 by VRS |  Email |Print

Abu Dhabi sovereign wealth fund Aabar Investments appeared to cut its stake in Daimler nearly in half in July, dropping just below the 5 percent threshold only to now say that the cause was a legal technicality.
According to a regulatory disclosure by the German carmaker, Aabar informed Daimler earlier on Tuesday that it owned barely less than 5 percent of the company’s stock on July 8……………………………………….Full Article: Source

Posted on 12 October 2011 by VRS |  Email |Print

The Abu Dhabi Investment Authority, or ADIA, estimated to be the Middle East’s largest sovereign wealth fund, may be cautious on banks after a controversial 2007 investment in Citigroup Inc. (C) resulted in ADIA launching a legal action against the U.S. banking group.
According to ADIA’s annual review, 35%-50% of its investments are located in North America, Europe and Asia, while only 15%-25% is held in emerging markets……………………………………….Full Article: Source

Posted on 12 October 2011 by VRS |  Email |Print

Onyx Investments, a subsidiary of Oman’s sovereign wealth fund, is seeking a judgement from an Omani court that would allow it to claim collateral on notes issued to fund a $20bn real-estate project that ran into trouble as a result of the regional property crisis.
Onyx, in an emailed statement, said it had instructed the note trustees, Bank of New York Mellon and Bank Muscat, to ask the Primary Commercial Court of Oman for a “debt recovery judgement” in relation to a special-purpose vehicle known as Blue City Investments 1 Ltd, which issued $925m of notes in 2006 to fund the real-estate project……………………………………….Full Article: Source

Posted on 12 October 2011 by VRS |  Email |Print

The State Oil Fund of the Republic of Azerbaijan (SOFAZ) has introduced its renewed website on www.oilfund.az, which has been active since 2001, the Fund said on Tuesday.
Purpose of new design and structure of the website is to help the public to get more information about the Fund’s activities, make the web site friendlier and preserve the principles of transparency that Fund ensures in its activity……………………………………….Full Article: Source

Posted on 12 October 2011 by VRS |  Email |Print

The State Oil Fund of Azerbaijan, SOFAZ, has recently issued AZN 80m for Baku-Tbilisi-Kars railway project. The statement came from SOFAZ Executive Director Shahmar Movsumov in his remarks for media.
Baku-Tbilisi-Kars railway first began to be constructed in Mardaba village of Georgia on 21 November 2007……………………………………….Full Article: Source

Posted on 12 October 2011 by VRS |  Email |Print

NDP leader Dwain Lingenfelter defended Tuesday the cost of the campaign pledges released by the party so far while laying out plans long-term savings fund that would put aside $100-million annually in potash revenues.
Surrounded by candidates at his Regina campaign office, Lingenfelter said the “Bright Futures Fund” will set aside at least $100-million annually of resource revenue and grow to $10-billion over 40 years, according to the NDP. The announcement was repeated in Saskatoon Tuesday afternoon with the NDP leader saying the fund will mean “Saskatchewan families of tomorrow will benefit from the profits of today.”………………………………………Full Article: Source

Posted on 12 October 2011 by VRS |  Email |Print

The $36.7 billion Alaska Permanent Fund Corporation (APFC) — which won aiCIO’s 2010 Industry Innovation Award in the Sovereign Wealth Fund category — is close to hiring a new chief investment officer.
The top candidates, according to Juneau Empire, are Maria Tsu of Anchorage and Jay Willoughby of New Jersey. Either will replace the Permanent Fund’s former CIO Jeffrey Scott, who announced in June that he would depart from the sovereign wealth fund to join Seattle-based consulting firm Wurts and Associates — which advises over $34 billion in institutional assets — to lead its discretionary investment practice……………………………………….Full Article: Source

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