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Sovereign Wealth Funds Briefing 15.Sep 2014

Posted on 15 September 2014 by VRS |  Email |Print

A Labour Government would establish a sovereign wealth fund to invest in new businesses, including clean energy projects using dividend cash from the remaining stakes in mixed ownership model companies and higher oil and gas royalties, leader David Cunliffe says.
Mr Cunliffe this morning unveiled his party’s ‘NZ Inc’ policy which he said would “drive growth, boost clean technology and protect our strategic assets to achieve our goal of a smarter, cleaner, fairer economy”. The policy’s three key aims were to “drive sustainable growth, support the transition from fossil fuels to clean technology and enshrine New Zealand ownership of our strategic assets”………………………………………..Full Article: Source

Posted on 15 September 2014 by VRS |  Email |Print

Its announcement of the NZ Inc fund, a sovereign wealth-type fund, would be seeded in the first instance by $100 million a year in dividend income from the government’s ongoing ownership of partially privatised electricity and airline assets, and from any other state-owned companies that happen to turn a profit.
However, that would be the tip of the iceberg, with funds in the longer term coming from royalties earned by companies extracting oil, gas and minerals from New Zealand territory. The big missing piece in Labour’s analysis is how much it would raise royalties. It says Australian royalty rates are higher and would provide a benchmark, but there are no accompanying numbers………………………………………..Full Article: Source

Posted on 15 September 2014 by VRS |  Email |Print

Recent reports of state investment body 1Malaysia Development Bhd (1MDB) suggest the business model being pioneered by this outfit could mark a new direction that may be adopted by similar sovereign bodies worldwide.
The biggest shift is the focus on value creation underpinned by commercial gain, somewhat similar to the operations of a special purpose acquisition company (SPAC) like Hibiscus Petroleum Bhd. Such a model envisions raising funds and then looking for potentially lucrative investments targets which can later be floated on the stock market for handsome gains, as noted by a recent report from Bank of America Merrill Lynch………………………………………..Full Article: Source

Posted on 15 September 2014 by VRS |  Email |Print

Singapore’s sovereign wealth fund GIC and two other investors will invest US$700 million (S$885.57 million) in US-listed XPO Logistics to help the transport company grow at a faster pace. XPO Logistics facilitates more than 31,000 deliveries a day as one of the fastest growing providers of transportation logistics services in North America, according to the firm’s website. The firm operates out of 203 locations and has about 10,400 employees.
The Public Sector Pension Investment Board, one of Canada’s largest pension investment managers, and Ontario Teachers’ Pension Plan are the other new investors in XPO Logistics………………………………………..Full Article: Source

Posted on 15 September 2014 by VRS |  Email |Print

Appetite for alternative investments is only set to increase among institutional investors globally, with long-term contrarian external managers very hard to find. But while the evolution of institutional investment models falls into a similar pattern, starting with traditional public market exposures before expansion by geography and asset class, state funds’ views on the use of external managers varies markedly, speakers revealed at our China Investment Forum.
Addressing the audience during a panel discussion on best practices in international investing, Tomas Franzen, chief investment strategist for the second Swedish national pension fund (AP2), outlined how it plans to insource all its investments bar alternatives within the next two years………………………………………..Full Article: Source

Posted on 15 September 2014 by VRS |  Email |Print

Kenya is fast tracking the establishment of the National Sovereign Wealth Fund (NSWF) that will invest with revenues from the country’s natural resources, the presidency said in a statement on Friday.
It said the framework for the commodities based on the NSWF will be developed through the Sovereign Wealth Fund bill 2014. “Stakeholders are currently reviewing the NSWF Bill, which will soon be tabled in parliament,” the President’s Chief of Staff Joseph Kinyua said. The law will provide guidelines on how and under what conditions money will be withdrawn from the fund………………………………………..Full Article: Source

Posted on 15 September 2014 by VRS |  Email |Print

Financial analysts said the performance of the financial portfolios and the investment funds at the Kuwait Stock Exchange (KSE) is still limited, though they lead trading, either up or down. A host of control rules have to a great extent restricted the performance of investment funds, and that of portfolios is limited regarding the opportunities available on the market, said two analysts interviewed by KUNA.
The Kuwait Investment Authority (KIA) has been trying to revive the role of some funds, but with no real effect due to the lack of adequate funding and control measures imposed on them, together with absence of favorable opportunities………………………………………..Full Article: Source

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