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Sovereign Wealth Funds Briefing 04.Sep 2012

Posted on 04 September 2012 by VRS |  Email |Print

There is no doubt that Nigeria is making progress in the various sectors of the economy. Nigerians are full of expectations that the recent inauguration of the board of the Sovereign Wealth Fund (SWF) has increased the hope and aspirations of the citizens that is on the way of institutionalising long-term savings culture.
In fact, with the country’s infrastructure deficit estimate at $200 billion or $20 billion a year, for the next 10 years, according to the Urban Development Bank of Nigeria, there is nothing as auspicious as the Fund that with objectives of building a savings base, enhancing the development of Nigerian infrastructure and providing stabilisation support in times of economic stress…………………………………….Full Article: Source

Posted on 04 September 2012 by VRS |  Email |Print

Mr. Uche OrjiThe Federal Government of Nigeria announced last week that Mr. Uche Orji is to be appointed as Managing Director and Chief Executive officer of the newly created Sovereign Wealth Fund (SWF).
With the SWF aiming to secure funding for infrastructure and to protect the economy from price-shocks; and also hoping to attract foreign investors to the Nigerian market, Orji’s international investment experience is a big asset to the Fund’s management team. Globally acknowledged to be one of the best brokerage analysts around, Uche Orji has a long list of investment-related achievements and experience to bring to the building process of the SWF…………………………………….Full Article: Source

Posted on 04 September 2012 by VRS |  Email |Print

Iran is to spend 18 percent of its stabilization fund for the development of the oil and gas sector, Petroleum Minister Rostam Qasemi said. “This year [2012-2013] we are planning to use $14 billion for the development of the oil and gas industry from the stabilization fund alone,” he told RIA Novosti’s Mikhail Gusev, his first interview with a foreign news agency.
Iranian oil exports have fallen by an estimated 40 percent since the EU introduced an oil embargo against Tehran in July. The National Development Fund [National Stabilization Fund] was established to protect the national economy and reduce Iran’s dependence on oil, Qasemi said…………………………………….Full Article: Source

Posted on 04 September 2012 by VRS |  Email |Print

China Investment Corp (CIC) has sold most of its stake in BlackRock Inc, the world’s biggest asset manager, as part of a wider strategy to trim holdings in global financial institutions, the Financial Times reported on Monday.
CIC , China’s $482 billion sovereign wealth fund, bought a 3 percent stake in BlackRock for $1 billion in 2009, the report said. It has been gradually cutting down its holding in recent months, generating profits on the sales, the FT said, citing people familiar with the matter…………………………………….Full Article: Source

Posted on 04 September 2012 by VRS |  Email |Print

Blue Sky Alternative Investments managing director Mark Sowerby has seen this trend unfold over the past year and believes there is a permanent “structural shift” taking place from institutional investors to financial planner networks and wealth managers.
The Future Fund’s nominal return for 2010-11 was 12.8 per cent. Since its inception in May 2006, it was 5.2 per cent a year. “What’s happening is that it looks like the alternatives are definitely performing better than the more traditional asset classes,” Sowerby says. “The big bellwether is going to be the Future Fund. The way that I see the world is that if the Future Fund’s performance in the next three years is good, most of the other super funds will change their asset allocations.”……………………………………Full Article: Source

Posted on 04 September 2012 by VRS |  Email |Print

Even as Norwegian sovereign wealth fund throws its weight behind attempts to block the merger of commodities trader Glencore and mining company Xstrata, experts are claiming the fund has more in common with a giant passive, or index-tracking, fund than with truly activist investors.
Even as Norwegian sovereign wealth fund throws its weight behind attempts to block the merger of commodities trader Glencore and mining company Xstrata, experts are claiming the fund has more in common with a giant passive, or index-tracking, fund than with truly activist investors…………………………………….Full Article: Source

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