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Sovereign Wealth Funds Briefing 17.Nov 2011

Posted on 17 November 2011 by VRS |  Email |Print

Rachel ZiembaAn uncertain outlook for oil prices and a need to increase domestic spending could make the Gulf’s sovereign wealth funds more selective when they invest abroad, even as Europe’s debt crisis pushes down asset prices in the West.

These constraints, lessons learned during the global credit crisis of 2007-2008, and a lower tolerance of risk are likely to reduce the probability of the funds sailing to the rescue of Western banks as they did in the last crisis, analysts said……………………………………..Full Article: Source

Posted on 17 November 2011 by VRS |  Email |Print

Growing demand for private equity exposure from pension funds and sovereign wealth funds is expected to go some way to plug the gap left by a drop-off in allocations from insurance and financial institutions, according to research from Morgan Stanley.
The report from Morgan Stanley entitled “Global Asset Managers: How Asset Managers Grow in a Low Return World” forecasts steady increase in pension fund allocations from 5.5% in 2010 to 6% by 2014, representing an additional $270bn of private equity allocations in that period. The bank also predicted that sovereign wealth fund allocations would rise from 3.7% in 2010 to 4% by 2014, implying an additional $100bn of private equity allocations……………………………………..Full Article: Source

Posted on 17 November 2011 by VRS |  Email |Print

A senior executive of China Investment Corp., a state investment arm, said Tuesday its global assets rose from $200 billion in 2007 to $374 billion in just three years at the time when the United States and European countries are mired in financial crisis.

Speaking at an investment forum in Hong Kong, the Chinese sovereign fund’s general manager Gao Xiqing attributed the robust rise in assets to the effectiveness of China’s fund management strategy and political system……………………………………..Full Article: Source

Posted on 17 November 2011 by VRS |  Email |Print

New Hope Group Co Ltd, China’s largest animal feed producer, will launch an overseas fund this month with international investors, including Singapore’s Temasek Holdings Pte Ltd TEM.UL, President Liu Yonghao said.

Confirmed international investors of the agricultural fund, which will be managed by New Hope, included Temasek TEM.UL, New York-listed Archer-Daniels-Midland Co and Japan’s Mitsui & Co Ltd, Liu told reporters on the sidelines of the China Overseas Investment Summit on Wednesday……………………………………..Full Article: Source

Posted on 17 November 2011 by VRS |  Email |Print

Singapore state investment company Temasek Holdings Pte Ltd. has purchased nearly a third of the 10.4 billion shares which Bank of America Corp. sold in China Construction Bank Corp., while Chinese state-related entities took up the rest, people familiar with the situation said Wednesday.

Temasek will now have a stake just under 10% in CCB, another person said, up from 8.1% before the sale by Bank of America, which announced the sale of the shares in the Chinese lender as part of its ongoing sale of non-core assets to shore up its balance sheet……………………………………..Full Article: Source

Posted on 17 November 2011 by VRS |  Email |Print

Temasek has bought about one third of the China Construction Bank shares that have been offloaded by Bank of America in recent days, media reports said. The Temasek acquisition will bring its stake in the Chinese lender to more than nine percent, making it the largest shareholder after the Chinese government, the Straits Times said on Thursday.

Temasek is believed to have paid about 4.93 Hong Kong dollars for the 3.45 billion shares it bought. Two other Chinese institutions will buy the rest of the 10.4 billion shares selling by Bank of America. Bank of America is selling the shares to raise cash in order to boost its capital adequacy……………………………………..Full Article: Source

Posted on 17 November 2011 by VRS |  Email |Print

Temasek Holdings Pte and Khazanah Nasional Bhd., the state-owned investment companies of Singapore and Malaysia, hired banks to arrange S$5 billion ($3.9 billion) of property development loans, according to two people familiar with the matter.

Eight lenders will contribute to the five-year bullet facility, which will pay a so-called all-in fee of 100 basis points over benchmark rates, one of the people said yesterday, asking not to be identified as details are private……………………………………..Full Article: Source

Posted on 17 November 2011 by VRS |  Email |Print

Mapletree India China, a wholly-owned subsidiary of Temasek Holdings of Singapore, has acquired 100% stake in a Bangalore technology park for Rs 800 crore. This is the largest private equity deal in the city’s real estate sector in three years.

The international fund, which invests in real estate firms, has completely bought out the promoters of Assetz Global Technology Park (AGTP), at least three people with direct knowledge of the deal told ET. The project is a joint venture between development and marketing firm Assetz Property Group and Delhi-based investor Mithilesh Tripathy……………………………………..Full Article: Source

Posted on 17 November 2011 by VRS |  Email |Print

The Government of Singapore Investment Corporation (GIC) is raising its stake in Intime Department Store, a news release from the Hong Kong-listed firm said on Tuesday.

GIC is buying 134.2 million shares at HK$9.90 per share, which represents a discount of 7.5 per cent from its 14 November closing price of HK$10.70. The acquisition of shares will increase GIC’s Intime holding to 9.08 per cent from 2.44 per cent……………………………………..Full Article: Source

Posted on 17 November 2011 by VRS |  Email |Print

The Kazakh National Welfare Fund Samruk Kazyna appointed an independent director to the Kazakh Samruk-Energo. Plankion Group and Education and Research Fund Aspandau Kanat Nurov is appointed to this post, the Samruk Kazyna reported.

Earlier, Nurov acted as the Almaty School of Management’s Director, Almatytelecom’s company Deputy Director General and Deputy Chief Financial Officer of Kazakhtelecom……………………………………..Full Article: Source

Posted on 17 November 2011 by VRS |  Email |Print

Mubadala Development Company (Mubadala), the Abu Dhabi-based strategic investment and development company, last night won the Large Treasury Team of the Year award at the Association of Corporate Treasurers Middle East (ACTME) 2011 Awards.

The award recognizes Mubadala across all treasury disciplines - cash management, corporate finance and funding, governance and risk management - for its sound treasury management, strong technical knowledge and ability, innovation in technology and systems, and its ability to build strong relationships with its bankers and advisors……………………………………..Full Article: Source

Posted on 17 November 2011 by VRS |  Email |Print

The Representative Office for West Africa of China-Africa Development Fund (CADFund) was inaugurated on November 11, 2011 in Accra, Ghana, with the aim of stepping up CADFund’s Africa-oriented investment and front-positioning of its business development apparatus in hopes of further bolstering Chinese investment in Africa and facilitating China-Africa economic cooperation and win-win development.

Dignitaries present at the opening ceremony of the representative office are Mr. Zhou Tienong, Vice Chairman of the Standing Committee of the National People’s Congress of China and Chairman of the Revolutionary Committee of the Chinese Kuomintang, Hon. Alhaji Muhammad Mumuni, Minister for Foreign Affairs & Regional Integration of the Republic of Ghana, H.E. Mr. Gong Jianzhong, Chinese Ambassador to Ghana, representatives of the Ghanaian government and the local business community, and chief executives of Chinese-invested companies in Ghana. Mr. Zhao Jianping, member of the Executive Management Committee of China Development Bank and Chairman of China-Africa Development Fund, delivered a key-note speech during the opening ceremony. (Press Release)

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