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Sovereign Wealth Funds Briefing 12.Dec 2011

Posted on 12 December 2011 by VRS |  Email |Print

Jin LiqunChina Investment Corp., the nation’s sovereign wealth fund, has about 60 percent of its assets in the U.S., which has many investment opportunities and a good legal system, Jin Liqun said.
Jin, chairman of CIC’s supervisory board, said that much of the rest of the fund’s assets are in Europe, other nations in Asia and Canada, with investments in resources, real estate and “open-market transactions.”……………………………………….Full Article: Source

Posted on 12 December 2011 by VRS |  Email |Print

Zhou XiaochuanChina’s central bank plans to create a new vehicle to manage investment funds worth a total of $300 billion (191 billion pounds) to improve returns on the world’s largest stockpile of foreign exchange reserves. The fund will operate alongside the State Administration of Foreign Exchange (SAFE), and separately from China’s sovereign wealth fund; China Investment Corp (CIC).
The vehicle, which was planned well before the start of Europe’s debt crisis and is aimed at improving returns on China’s foreign exchange reserves, would operate two funds, one targeting investments in the United States and the other focused on Europe, said the source, who asked not to be named because of the sensitivity of the matter………………………………………..Full Article: Source

Posted on 12 December 2011 by VRS |  Email |Print

Malaysia’s state investment arm Khazanah Nasional will sell its 42.7 percent stake in national car maker Proton Holdings Bhd to autos-to-property conglomerate DRB-Hicom, the Star newspaper reported on Monday quoting Proton adviser Mahathir Mohamad.
The paper cited ex-Malaysian prime minister Mahathir as saying Khazanah wanted to sell its stake as it would not be investing more in Proton which needed funds for research and development of new products such as hybrid cars………………………………………..Full Article: Source

Posted on 12 December 2011 by VRS |  Email |Print

Qatar Holding, a subsidiary of the gas-rich Gulf state’s sovereign wealth fund, has set up a $1bn fund to target investment opportunities in Indonesia. The fund, to be named QH Indonesia, will be based in Jakarta “will identify and evaluate investment opportunities in Indonesia specifically,” the company said.
The $1bn fund will mainly target commodities and natural resources, it added………………………………………..Full Article: Source

Posted on 12 December 2011 by VRS |  Email |Print

Governors will make a new request at today’s National Economic Council (NEC) – voluntary participation in the Sovereign Wealth Fund (SWF). Besides, they are mounting pressure on the Presidency to concede 30 per cent equity to them in the distribution companies of the Power Holding Company of Nigeria (PHCN).
President Goodluck Jonathan has got legal advice from the Attorney-General of the Federation, Mohammed Bello Adoke (SAN), to go ahead with the implementation of the Fund, which the states opposed, saying it is illegal………………………………………..Full Article: Source

Posted on 12 December 2011 by VRS |  Email |Print

A tug of war has erupted in the porous inclusive government with ministers pulling in different directions over the management of a proposed Sovereign Wealth Fund (SWF). The divisions were exposed by Deputy Prime Minister Arthur Mutambara in his address to a Mining Sector Stakeholders Briefing held in Harare last week.
Currently, Youth Development, Indigenisation and Empowerment Minister, Saviour Kasukuwere has been at the forefront of establishing a US$5 billion SWF to warehouse shares in various entities acquired by government under the country’s hostile empowerment law. Kasukuwere had hoped to house the SWF under his ministry………………………………………..Full Article: Source

Posted on 12 December 2011 by VRS |  Email |Print

Pinning down the nature of each fund is no easy task. Sovereign wealth funds (SWFs) continue to attract worldwide attention, not just for their size, but also because they are one of the most conspicuous platforms for the exercise of the growing institutional wealth of the emerging markets of Asia and the Middle East..………………………………………Full Article: Source

Posted on 12 December 2011 by VRS |  Email |Print

Papua New Guinea’s Sovereign Wealth Fund Bill before parliament introduced by the Prime Minister Peter O’Neill has been referred to the permanent parliamentary committee on legislation. O’Neill was absent yesterday and left it to the leader of government business Moses Maladina to introduce it.
A point of order was raised by the opposition but the Speaker ruled that the leader of government business could take charge. The proposed legislation was then referred to the permanent parliamentary committee on legislation………………………………………..Full Article: Source

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