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Sovereign Wealth Funds Briefing 10.Aug 2012

Posted on 10 August 2012 by VRS |  Email |Print

Norway’s sovereign wealth fund is close to buying a majority stake worth upwards of 1.1 billion pounds in the Meadowhall shopping mall in Sheffield, 165 miles north of London, which is being jointly sold by London & Stamford and British Land, a source close to the deal said.
The $610-billion sovereign wealth fund, the world’s second largest after the Abu Dhabi Investment Authority, will buy a 75 percent share in the 1.4 million square foot mall, marking its second UK property investment since it invested 448 million pounds into London’s Regent Street in 2010………………………………………..Full Article: Source

Posted on 10 August 2012 by VRS |  Email |Print

Tilman RuffThe Future Fund has defended its investments in subsidiaries based in known tax-havens during a senate inquiry. The fund’s 2011 annual report shows that it has 14.4% of its assets in the Cayman Islands, plus significant investments in the British Virgin Islands and Jersey, and smaller investments in Luxembourg.
The fund asserted its independence at yesterday’s inquiry - defending itself against a bill put to Parliament by the Greens which would see it forced out of several contentious investments………………………………………..Full Article: Source

Posted on 10 August 2012 by VRS |  Email |Print

Asutalia’s Future Fund has revealed it has invested more than $20 billion through offshore tax shelters, including the Cayman Islands, warning of lower returns if it does not minimise its tax bill.
The $77bn fund for federal public-servant pensions has revealed that 14.4 per cent of its assets, worth about $11bn, are invested in subsidiaries based in the Cayman Islands (a tax haven in the Caribbean) and a further 1.3 per cent is in its subsidiaries in the British Virgin Islands and Jersey………………………………………..Full Article: Source

Posted on 10 August 2012 by VRS |  Email |Print

Tanzania is to set up a sovereign wealth fund to ring fence future earnings from its major gas discoveries in the southern parts of the country along the Indian Ocean coastline, its president said.

The east African nation of 42 million people tripled its estimated gas reserves in June after offshore finds by Norway’s Statoil, U.S. group ExxonMobil and Britain’s BG Group and its partner Ophir Energy. President Jakaya Kikwete told the nation that his government was studying various models for managing revenues from gas production, adding they were focusing on those that have sovereign wealth funds………………………………………..Full Article: Source

Posted on 10 August 2012 by VRS |  Email |Print

The aid-dependent African nation is planning a sovereign fund as part of a long-term plan to wean itself off global support, according to a local press report.
Rwanda, the aid-dependent African nation that is working to bolster its economy, is planning a sovereign fund as part of a long-term plan to wean itself off global support, according to a local press report………………………………………..Full Article: Source

Posted on 10 August 2012 by VRS |  Email |Print

The State Oil Company of Azerbaijan (SOCAR) has announced next statistic data on Azeri oil export via main export pipeline Baku-Tbilisi-Ceyhan (BTC) named after Heydar Aliyev.
in July 1.886 million tons of overall shipping accounted for the State Oil Fund of Azerbaijan (SOFAZ) against 1.618 million tons in June, 1.716 million tons in May, 1.847 million tons in April, 1.938 million tons in March, 1.358 million tons in February, 1.9 million this January and 2.5 million tons in April 2011 (the 2011 best index). The entire income from this part of exports will go to the assets of SOFAZ………………………………………..Full Article: Source

Posted on 10 August 2012 by VRS |  Email |Print

A major development is occurring in the world of public pensions. Public investors are seeking fewer relationships in managers, but are willing to enlarge allocations. This concentrated approach to private market investing is contributing to the rise of separate accounts and strategic relationships.
The California Public Employees Retirement System’s (CalPERS) real estate program had their US$ 6 billion capital allocation increase approved in June 2012. At the end of May 2012, CalPERS had a real estate portfolio valued at US$ 21.8 billion………………………………………..Full Article: Source

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