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Sovereign Wealth Funds Briefing 16.Apr 2012

Posted on 16 April 2012 by VRS |  Email |Print

Global sovereign wealth fund assets jumped 16% in the past 12 months to $4.62 trillion, with private equity assets in North America attracting special interest, reveals new research.
According to the alternative investments research group Preqin, 57%, invest into private equity, 80% of which is done through pooled funds and 20% directly. SWFs are also using their scale in the specialist sector, noted the researcher………………………………………..Full Article: Source

Posted on 16 April 2012 by VRS |  Email |Print

As Goldman Sachs Group Inc. cuts its investment in Industrial & Commercial Bank of China Ltd. again, who is stepping in but Singapore’s sovereign wealth fund?
As Dow Jones Newswires reports Monday, Temasek Holdings said it would buy 3.55 billion of ICBC’s Hong Kong-listed H-shares from Goldman Sachs for $2.3 billion, according to a person familiar with the matter. The purchase gives Temasek an approximately 5.3% stake in ICBC’s H-shares………………………………………..Full Article: Source

Posted on 16 April 2012 by VRS |  Email |Print

Temasek Holdings added a sizeable China bank stake to its financial institutions portfolio, scooping up a 5.3 per cent chunk of ICBC’s Hong Kong-listed shares from seller Goldman Sachs.
Temasek was burned by its financial industry exposure in 2008, hit by stakes in large European and US banks that plunged in the crisis. But the state investor has kept nearly 40 per cent of its investment portfolio in banks it feels are strong and are capturing emerging market growth………………………………………..Full Article: Source

Posted on 16 April 2012 by VRS |  Email |Print

With growing demands for oil and gas and uncertainty looming over supplies from sanctions-hit Iran, India has sought to deepen energy ties with Qatar.
The Qatar Investment Authority, one of the richest sovereign wealth funds that invested almost $30 billion globally last year, has an insignificant presence in India. The authority’s investment in India is around $500 million, mostly in stocks………………………………………..Full Article: Source

Posted on 16 April 2012 by VRS |  Email |Print

Qatar told Xstrata Plc that it will back the mining company’s planned merger with Glencore International Plc, the Sunday Times reported, without saying where it got the information.
Qatar Holding LLC, an investment unit of the country’s sovereign wealth fund, built a 5.5 percent stake in Xstrata by last week, putting it in the most powerful position to influence shareholder votes on the union, according to the newspaper………………………………………..Full Article: Source

Posted on 16 April 2012 by VRS |  Email |Print

Mubadala, the Abu Dhabi government’s investment vehicle, expects its investment outlay in 2012 to be slightly lower than last year’s after saying its overall annual loss surged due to volatile global markets.
The state-owned fund, which has stakes in General Electric and private equity firm Carlyle, made an overall loss of 4.2bn dirhams ($1.14bn) in 2011, compared with a loss of Dh338mn in 2010, it said in a statement………………………………………..Full Article: Source

Posted on 16 April 2012 by VRS |  Email |Print

Mubadala Development made a loss of Dh4.2 billion (US$1.1bn) last year as the financial crisis squeezed the value of its investments around the world
The comprehensive loss combines operating profits from its seven main industry sectors and paper losses on investments. It made a Dh338 million loss in 2010, the company said………………………………………..Full Article: Source

Posted on 16 April 2012 by VRS |  Email |Print

It may not be enough to explain that Sovereign Wealth Fund is similar to personal or family savings because the majority of our poverty stricken citizens, who live on the proverbial $2 a day have never been blessed with surplus income to permit the luxury of savings for the basic need of food for more than a day or two at any one time!
In November 2011, Dr. Iweala addressed the media and confirmed that the Governors had been carried along on the issue of the SWF; regrettably, less than a week later, the Governors revived their case against any deductions in the name of SWF from the federation account………………………………………..Full Article: Source

Posted on 16 April 2012 by VRS |  Email |Print

When the federal government accused the state governors of mischief and insincerity as they allegedly set out to frustrate the planned creation of the Sovereign Wealth Fund (SWF), it knew what it was doing.
And when the governors in-turn accused the federal government of manifesting insincerity in her earlier stand for an amicable out-of-court resolution of the case, they also knew what they were doing. However, it is not clear whether both parties know how insincere and mischievous they have been in their relationships with the real owners of the controversial monies- the citizenry……………………………………….Full Article: Source

Posted on 16 April 2012 by VRS |  Email |Print

Coordinating Minister for the Economy and Minister of Finance, Mrs. Ngozi Okonjo-Iweala, yesterday raised alarm over the depletion of the Excess Crude Account, which stands at a mere $ 3.6 billion.
Speaking at the first civil society forum organized by her ministry to acquaint civil society groups with the Jonathan transformational agenda, Okonjo-Iweala also appealed to state governors challenging the constitutionality of the Sovereign Wealth Fund to have a re-think, noting that the Fund is critical to national survival given Nigeria’s mono-economic status………………………………………..Full Article: Source

Posted on 16 April 2012 by VRS |  Email |Print

The world’s estimated $1.5 trillion worth sovereign wealth funds (SWFs) need to shift their investment focus. Rather than going for a buying spree, these funds have to be channelled to more ‘productive’ ways that would help countries grow sustainable ways, a UN body adviser has said.
Talking to The Peninsula yesterday, Kobsak Chutikul, Interregional Adviser, Office of the Secretary General, United Nations Conference on Trade and Development (Unctad) said SWF has great potential to fill the gap in development and help countries grow sustainably………………………………………..Full Article: Source

Posted on 16 April 2012 by VRS |  Email |Print

A new survey by EDHEC-Risk Institute lets managers of the sovereign wealth funds – and those who manage other, related institutions such as central banks or state development funds – speak for themselves about the strategies SWFs pursue.
The responsive state-affiliated investment managers, mostly from Middle Eastern and East Asian vehicles, say that they believe SWFs can benefit from a liability-driven investment model, but they worry about models that are too general, inadequately customized to their needs………………………………………..Full Article: Source

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