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Sovereign Wealth Funds Briefing 20.Aug 2012

Posted on 20 August 2012 by VRS |  Email |Print

Qatar was the top sovereign wealth buyer of European property in the last 12 months, spending 3.5 billion euros ($4.3 billion) on eight deals including the London Olympic athlete’s village and a mall on Paris’ Champs Elysees, data from a research firm showed.
For Qatar, the world’s biggest exporter of liquefied natural gas (LNG), that spending during the year to mid-August equals only about six weeks of revenue from its LNG exports, according to Reuters calculations. Sovereign wealth funds view top-quality property in the best locations as a safe bet in the global financial crisis………………………………………..Full Article: Source

Posted on 20 August 2012 by VRS |  Email |Print

Norway’s sovereign wealth fund has plans to take on more risk, Pal Haugerud, head of asset management in Norway’s finance ministry, said, The Financial Times reported Sunday.
Haugerud said Norway’s sovereign wealth fund–the world’s largest, with over $600 billion of assets under management–could act to provide liquidity during periods when markets lack liquidity, such as during a financial crisis, the FT said………………………………………..Full Article: Source

Posted on 20 August 2012 by VRS |  Email |Print

Norway’s example of a sovereign wealth fund that captures some of the profits generated by the resources boom wouldn’t work in Australia, a Treasury adviser says. Replicating a Norwegian-style sovereign wealth fund to capture some of the spoils of the resources boom is not a sensible strategy, considering the differences between the two economies, a Treasury adviser has said.
“If Australia were to seek to emulate the Norwegian example, governments would need to target much higher budget surpluses than have been contemplated to date,” Treasury macroecnomic policy division senior adviser Phil Garton said in a report on Friday………………………………………..Full Article: Source

Posted on 20 August 2012 by VRS |  Email |Print

A handful of bureaucrats at the Future Fund are doing more international travel per person than the Foreign Affairs Department and the military. While it is the business of the Department of Defence and the Department of Foreign Affairs and Trade to deploy their officers abroad, the agency which manages Australia’s sovereign wealth fund has budgeted for more than $51,000 in international airfares for each of its 77 staff for the three years to 2013.
By comparison, DFAT has budgeted about half that amount for its 2300 staff, at $27,000 per head over the same period………………………………………..Full Article: Source

Posted on 20 August 2012 by VRS |  Email |Print

In “Budget should bump Future Fund” (August 16) it is reported “the government asked the Department of Finance for advice on reviewing treatment of the Future Fund in the May budget”, the inference being to exclude the $417 million annual costs of running the fund from government outlays to help shore up a budget surplus.
The confusion arises because the Future Fund, created by former treasurer Peter Costello, was designed to make inroads into unfunded super for federal public servants whose pensions were funded out of consolidated revenue in what remains a “pay as you go” scheme………………………………………..Full Article: Source

Posted on 20 August 2012 by VRS |  Email |Print

As the nation waits for the unveiling of the management of the Sovereign Wealth Fund (SWF) any moment from now, analysts say the only way the fund can be relevant to Nigerians is that it should be investment driven, so as to use its offshore investments to drive foreign direct investments (FDIs) and enhancement of infrastructure.
They posit that Nigeria should rather adapt the Chinese and Malaysian models which focus on technology transfer and job creation through investment in world class industries, rather than the Norwegian or Swiss models of portfolio investments………………………………………..Full Article: Source

Posted on 20 August 2012 by VRS |  Email |Print

For a very small country, Qatar is becoming a very big player in the British economy.Its sovereign wealth fund, Qatar Holding, has just bought 20 per cent of Heathrow’s owner BAA for £900million. Useful, no doubt, for when the gas-rich Qataris fly in to check their investments at Harrods, which they bought for £1.5billion.
They might then like to visit a branch of Barclays, which they saved from State-aid by buying a £7 billion stake in the bank in 2009. And they could stop for a ready-meal at Sainsbury’s, of which they own 26 per cent……………………………………….Full Article: Source

Posted on 20 August 2012 by VRS |  Email |Print

BAA-share buying includes 10.6% from biggest shareholder Ferrovial which denies it is seeking full exit after 2006 takeover.
Qatar’s sovereign wealth fund is buying 20% of Heathrow owner BAA in a move that adds the airport operator to a portfolio of British interests including Harrods and stakes in Barclays and J Sainsbury………………………………………..Full Article: Source

Posted on 20 August 2012 by VRS |  Email |Print

Qatar has spent $4.3 billion U.S. buying up European properties during the last twelve months. This is equivalent to about six weeks of income from Qatari LNG(liquefied natural gas) exports.
Qatar’s sovereign wealth fund invested the $4.3 billion U.S. on eight different deals. Purchases include the London Olympic athlete’s village and a mall on the Champs Elysees in Paris. A sovereign wealth fund is described as follows:……………………………………….Full Article: Source

Posted on 20 August 2012 by VRS |  Email |Print

Sovereign Wealth Funds (SWF) has attracted lots of attention in recent years as more countries open funds and invests in multi-national companies and assets. Some experts estimate that all sovereign wealth funds combine 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………………………………………..Full Article: Source

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