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Sovereign Wealth Funds Briefing 27.Feb 2014

Posted on 27 February 2014 by VRS |  Email |Print

Kazakhstan’s sovereign wealth fund Samruk-Kazyna expects its subsidiaries to borrow 800 billion tenge ($4.3 billion) this year, around half of it on external markets, Nurlan Rakhmetov, the fund’s managing director, said on Wednesday.
Samruk-Kazyna manages state-run stakes worth a total of around $100 billion, or roughly half of Kazakhstan’s gross domestic product. The oil-rich nation of 17 million is central Asia’s largest economy………………………………………..Full Article: Source

Posted on 27 February 2014 by VRS |  Email |Print

As lawmakers in Oslo debate whether to ban their $840 billion sovereign wealth fund from investing in coal companies, the country has opened a new coal mine in the Arctic Svalbard archipelago.
Mining for coal in the northernmost reaches of the globe helps Western Europe’s biggest oil producer keep a presence in the fossil-fuel rich region as nations, including Russia and the U.S., jockey for power there. Norway is fighting for a claim to the Arctic as its North Sea oil and gas reserves start to run out after more than 40 years of production………………………………………..Full Article: Source

Posted on 27 February 2014 by VRS |  Email |Print

The majority of parliament believes that the country’s Sovereign Wealth Fund should no longer be used to invest in the coal industry. Pro-industry lobbyists disagree. “We want to divest [our holdings] in 100 per cent coal companies because it’s is the most polluting energy source we have,” Deputy Centre Party (Sp) leader Trygve Slagsvold Vedum told NRK, Wednesday.
Milton Catelin from the World Coal Association visited the Norwegian Parliament this week hoping to change MPs minds. He argues it will affect the coal industry’s research into climate change………………………………………..Full Article: Source

Posted on 27 February 2014 by VRS |  Email |Print

The future of North Sea oil and gas continued to dominate the independence battle as politicians clashed over plans for a wealth fund. Scottish Secretary Alistair Carmichael warned that an independent Scotland would have no hope of emulating Norway’s £500billion oil fund, claiming the SNP was trying to “fool” people into thinking it could do so.
The SNP responded, saying UK ministers were the ones trying to dupe Scots into thinking that the nation was the only place in the world where oil was a “burden and not a bonus”………………………………………..Full Article: Source

Posted on 27 February 2014 by VRS |  Email |Print

The Nigeria Sovereign Investment Authority (NSIA) said it has signed an agreement with Julius Berger (JB) Nigeria Plc, under its Motorways investment, for the construction of the Second Niger Bridge. The project, which is projected to cost N117 billion, would be constructed with an additional 39-kilometre dual carriageway along the Onitsha-Enugu axis.
The Managing Director/Chief Executive of the NSIA, Mr Uche Orji, who disclosed this while briefing journalists in Abuja on the progress made so far with the fund, said it has invested the sum of $10 million out of the Sovereign Wealth Fund into the Nigerian Mortgage Refinancing Company (NMRC) which was launched by President Goodluck Jonathan last month………………………………………..Full Article: Source

Posted on 27 February 2014 by VRS |  Email |Print

When Malaysia’s sovereign wealth fund announced its 2013 return last month, it highlighted its international presence for the first time in its annual report and plans to continue expanding abroad. Khazanah Nasional Bhd., which has locations in Beijing and Mumbai, said it opened offices in San Francisco and Istanbul with a map that included the various countries where its companies have operations.
“The new offices indicate a further internationalization of their investments,” said Victoria Barbary, director at the London-based Institutional Investor’s Sovereign Wealth Center. “I expect Khazanah to seek more technology investment through its office in California. And that might help bolster some knowledge transfer to their domestic firms.”……………………………………….Full Article: Source

Posted on 27 February 2014 by VRS |  Email |Print

Global sovereign wealth funds and high-net-worth individual investors are steadily acquiring big-ticket hotel “trophy” assets around the world, and experts say the trend is likely to continue. While Middle Eastern investors have had the strongest presence recently among such buyers, cash-laden investors are now emerging from China to Norway to Latin America.
Major players such as Starwood Hotels & Resorts Worldwide and Marriott International have sold multiple luxury properties to overseas buyers in recent months, particularly Middle Eastern individual investors and sovereign wealth………………………………………..Full Article: Source

Posted on 27 February 2014 by VRS |  Email |Print

In recent times, sovereign wealth funds and public pensions have boosted exposure to real assets. According to research by the Sovereign Wealth Fund Institute, more large public investors will augment allocation to real assets while lowering allocations to domestic equity and fixed income.
For example, near the end of 2013, Australia’s Future Fund has planned to expand real asset allocation from just over 10% to barely under 20%. Embracing infrastructure, the sovereign fund’s chief investment officer, David Neal, was involved on them acquiring a stake in Perth airport……………………………………….Full Article: Source

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