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Sovereign Wealth Funds Briefing 18.Jun 2012

Posted on 18 June 2012 by VRS |  Email |Print

OD05 Omnibus, an investment fund widely believed to be a Chinese government investment vehicle, has been increasing its stakes in Japanese companies including Toyota and Honda.
The report, which highlights growing China-Japan economic ties, comes after China’s sovereign wealth fund China Investment Corporation (CIC) reportedly said it will no longer buy European government debt. CIC chairman Lou Jiwei told the Wall Street Journal this month that the giant fund has scaled back its holdings of stocks and bonds in Europe, saying “there is a risk that the euro zone may fall apart and that risk is rising.”……………………………………….Full Article: Source

Posted on 18 June 2012 by VRS |  Email |Print

China Investment Corporation is committed to discussing possible investment plans in Greece once a government is formed in the European nation after Sunday’s election, said Greek business leaders.
The intention was expressed by China’s sovereign wealth fund during a recent visit to Beijing by a delegation from the Hellenic-Chinese Chamber, which aims to promote the development of business and economic ties between Greece and China………………………………………..Full Article: Source

Posted on 18 June 2012 by VRS |  Email |Print

Singapore investment firm Temasek Holdings on Thursday said it had applied for an increase in its quota for publicly traded securities in China. Under China’s Qualified Foreign Institutional Investors (QFII) program, only approved institutional investors can buy or sell yuan-denominated securities.
Temasek said “as an investor who invests for long term returns”, it “remains confident and optimistic in China’s long-term growth”………………………………………..Full Article: Source

Posted on 18 June 2012 by VRS |  Email |Print

Sovereign wealth fund Kuwait Investment Authority (KIA) will invest about US$150 million (RM477.8 million) in Malaysian firm IHH Healthcare’s planned US$2 billion (RM6.4 billion) IPO in Kuala Lumpur and Singapore, two sources with direct knowledge of the deal said.
The investment is poised to make KIA the second-biggest investor in the Malaysian healthcare firm’s IPO. It will be the fund’s biggest investment in an Asian flotation since it poured US$800 million (RM2.5 billion) into Agricultural Bank of China’s US$21 billion (RM66.9 billion) offering in 2010………………………………………..Full Article: Source

Posted on 18 June 2012 by VRS |  Email |Print

Sparx Group Co., a Japanese asset manager, won money from a sovereign wealth investment company overseas to start a property fund focused on residential assets, Chief Executive Officer Shuhei Abe said.
Sparx Asia Capital Management Ltd. will be responsible for the five-year fund, which will have maximum capacity of 40 billion yen ($507 million) and will start in August or September, Abe said in a telephone interview from Tokyo………………………………………..Full Article: Source

Posted on 18 June 2012 by VRS |  Email |Print

After falling for five straight weeks, India’s foreign exchange reserves grew by $1.52 billion to $287.37 billion for the week ended June 8, 2012, official data showed. The reserves had plunged by $2.40 billion to $285.85 billion for the week ended June 1, apparently due to the Reserve Bank of India (RBI) selling dollars to defend the rupee.
The reserves had declined by $1.74 billion and $1.80 billion respectively in the previous two weeks of June 1, 2012………………………………………..Full Article: Source

Posted on 18 June 2012 by VRS |  Email |Print

Italian oil and gas major Eni has received expressions of interest from sovereign funds for a 22.5 percent stake in Snam that it must sell to exit investment in the gas grid operator, an Eni source said on Sunday.
“Several sovereign funds have expressed a preliminary interest that Eni will evaluate,” the source said………………………………………..Full Article: Source

Posted on 18 June 2012 by VRS |  Email |Print

The Abu Dhabi Investment Authority and other Mideast sovereign-wealth funds have shown interest in buying Eni SpA (ENI)’s remaining stake in Snam SpA (SRG), newspaper Il Sole 24-Ore reported, without saying where it got the information.
Italy’s biggest oil company plans to sell its remaining 20 percent holding and may break it into 5 percent portions, Il Sole reported………………………………………..Full Article: Source

Posted on 18 June 2012 by VRS |  Email |Print

Ethics board finds Shikun and Binui ‘in breach of international humanitarian law in East-Jerusalem’ “Norway’s Ministry of Finance announced Friday that a state fund that is Europe’s largest equity investor would no longer invest in Israeli construction company Shikun and Binui.
Oslo said the decision to cut Shikun and Binui from the Government Pension Fund Global, commonly known as the oil fund, came on the heels of a recommendation from a state ethics board, which found the company was in contravention of international law by being involved in building projects in East Jerusalem………………………………………..Full Article: Source

Posted on 18 June 2012 by VRS |  Email |Print

The Ministry of Finance has excluded the company Shikun & Binui Ltd. from the investment universe of the Government Pension Fund Global (GPFG).
The decision to exclude the company follows an exclusion reccommendation from the Council on Ethics to the GPFG. The company is a construction company involved in the building of settlements in breach of international humanitarian law in East-Jerusalem………………………………………..Full Article: Source

Posted on 18 June 2012 by VRS |  Email |Print

The Scandinavian savings market – worth close to €1 trillion if all state sovereign, insurance and pension funds are considered – is a prize target for those international fund managers who can crack it.
The same trend is visible among the region’s giant state funds. Norway’s €463bn Government Pension Fund, which despite its name, is an oil-funded sovereign wealth pool with no specific pension liabilities, has been steadily bringing more and more of its fixed-income management in-house since 2008………………………………………..Full Article: Source

Posted on 18 June 2012 by VRS |  Email |Print

The Harvard-trained economist, who began his career at the Bank of Canada in 1979, is also the man behind the OECD’s recent call for the central bank to begin gradually hiking its benchmark lending rate.
Norway has been saving [oil revenues] in the form of a sovereign wealth fund, and the Chileans do the same thing with copper. We have the Heritage Fund in Alberta but it’s pretty small potatoes, and it has enjoyed almost no inflows for a very long time………………………………………..Full Article: Source

Posted on 18 June 2012 by VRS |  Email |Print

The Alaska Permanent Fund Corp., state Department of Revenue and Alaska Retirement Management Board did not order the sale of stock holdings in companies that either do business in Iran or with the Iranian government after Gov. Sean Parnell called for divestment.
The decision boiled down to the mandates that each has for managing state funds — and that officials say they’re honoring, even if they’re not carrying out Parnell’s wishes………………………………………..Full Article: Source

Posted on 18 June 2012 by VRS |  Email |Print

Sovereign wealth funds have attracted a lot of attention in recent years as more countries open funds and invest in big-name companies and assets. Some experts estimate that all sovereign wealth funds combined to hold more than $5 trillion in assets in 2012, a number that is expected to grow relatively quickly.
This has given way to a wide concern over the influence these funds have on the global economy. As such, it is important to understand exactly what sovereign wealth funds are and how they first came about………………………………………..Full Article: Source

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