Wed, Jun 16, 2021
A A A
Welcome mteam
RSS
Sovereign Wealth Funds Briefing 23.Sep 2014

Posted on 23 September 2014 by VRS |  Email |Print

Norway’s $880 billion sovereign wealth fund, the world’s largest, said traditional global indexes are no longer an appropriate model on which to base its investments. “A new framework for the management of the fund may facilitate a development where we as the management take greater responsibility by defining a tailor-made reference portfolio,” Yngve Slyngstad, the fund’s chief executive officer, said.
The global indexes the investor currently follows don’t “represent the best starting point,” he said. The fund, which gets its capital from Norway’s oil and gas wealth, is seeking to boost returns and expand into new asset classes. After getting its first capital infusion 18 years ago, the investor has steadily added risk, expanding into stocks in 1998, emerging markets in 2000 and real estate in 2011 to safeguard the wealth of western Europe’s largest oil exporter………………………………………..Full Article: Source

Posted on 23 September 2014 by VRS |  Email |Print

A long-term investor with a strong public service sensibility and a massive portfolio must inevitably confront the issue of sustainability. For Singapore government-owned investment company Temasek Holdings, that time has begun in earnest, chairman Lim Boon Heng hinted on Monday at a dinner to mark Temasek’s 40th anniversary.
“This spirit of doing things today, with tomorrow very clearly in our minds also describes the ethos of Temasek,” Mr Lim said. “It forms our values and culture as a long-term investor, as a forward-looking institution and most of all, as a trusted steward.” Singapore President Tony Tan Keng Yam recalled that Temasek was created as a way to keep government from overly influencing its commercial interests………………………………………..Full Article: Source

Posted on 23 September 2014 by VRS |  Email |Print

Long-term sustainability remains the core concern for Temasek Holdings after four decades of existence, its chairman Lim Boon Heng said Monday. Speaking at a dinner at the Istana to mark the Singapore government investment company’s 40th anniversary, he said: “This spirit of doing things today with tomorrow very clearly in our minds also describes the ethos of Temasek.”
He especially noted Temasek’s recent focus on environmental sustainability; it had on Sept 19 organised an “Ecosperity” conference with Goldman Sachs and the National University of Singapore to explore the issue of sustainable growth………………………………………..Full Article: Source

Posted on 23 September 2014 by VRS |  Email |Print

As Temasek celebrates its 40th anniversary, its chairman Lim Boon Heng chose the occasion to reflect on how the investment company has grown and transformed along with a rapidly changing Singapore.
Speaking at Temasek’s 40th anniversary dinner on Monday (Sep 22), Mr Lim noted how back in 1965, Singapore’s per capita income was just about S$650. Some 40 years later, the figure has grown to over S$80,000. Looking ahead, Mr Lim said Temasek has embarked on a long-term journey to invest and re-invest in the community, in Singapore and beyond………………………………………..Full Article: Source

Posted on 23 September 2014 by VRS |  Email |Print

From humble beginnings, the value of assets held and grown by Temasek Holdings has contributed to the wealth of the nation, and supports present and future generations, said President Tony Tan Keng Yam. He spoke at the 40th-anniversary celebration dinner held for the investment firm at the Istana on Monday (Sep 22). The full text of his speech is presented below:
Established within the first decade of Singapore’s independence, Temasek was a company like no other. It was an experiment, born out of necessity. In its first decade, the Singapore Government had pushed hard to industrialise, and to find a living for its people. It provided loans to some companies, and co-invested in others, in order to encourage investors to create jobs in Singapore. ……………………………………….Full Article: Source

Posted on 23 September 2014 by VRS |  Email |Print

An “experiment born out of necessity”, which turned into “a company like no other”, celebrated 40 years of growing alongside Singapore on Monday. Investment company Temasek Holdings is a Singapore institution which “epitomises (a) culture of constant hard work and ceaseless innovation to build for the future”, said President Tony Tan Keng Yam at the firm’s 40th anniversary dinner.
Held at the Istana, the event was attended by about 500 guests, including employees and chairmen past and present, key members of the business community, and international guests. Prime Minister Lee Hsien Loong and other ministers were also in attendance………………………………………..Full Article: Source

Posted on 23 September 2014 by VRS |  Email |Print

The creation of Temasek Holdings has allowed Singapore to separate government from the running of its commercial interests, forcing those companies to succeed in their own right, Singapore’s President Tony Tan said on Monday.
“Many state-owned companies, or SOEs, around the world are protected from competition and cushioned from corporate realities through subsidies in various guises. This leads to an unlevel playing field,” he said at a dinner to mark the 40th anniversary of Temasek Holdings, the Singapore government’s investment company………………………………………..Full Article: Source

Posted on 23 September 2014 by VRS |  Email |Print

Three members of parliament have lauded Khazanah Nasional’s plan to set up an “outplacement support” centre for some 6,000 Malaysia Airlines (MAS) staff to be axed as part of the airline’s restructuring programme.
The centre will focus on extending all relevant and required support to the employees leaving MAS, including professional, emotional, counselling and financial support to assist them in their transition to the next stage of their career………………………………………..Full Article: Source

Posted on 23 September 2014 by VRS |  Email |Print

The New Zealand Superannuation Fund is backing a global investment study to better assess the risks and and opportunities associated with climate change. The British-based, global investment consulting firm, Mercer, is analysing the investment risks and returns under various climate change scenarios, with the support of global fund managers, including the New Zealand fund.
With total assets under management of $US1.5 trillion the group wants to better understand the scientific and policy issues around climate change and how they will impact investment decision-making now and in the future. The New Zealand fund, which was set up to make investments to help pay for New Zealanders’ future superannuation entitlements, was valued at $26.8 billion at the end of August………………………………………..Full Article: Source

Posted on 23 September 2014 by VRS |  Email |Print

If it’s going to proceed with it, the government would do well to announce specific plans for the Sovereign Wealth Fund before the year is out. Since August, government ministers have hinted that we might soon see an update on the state of Papua New Guinea’s Sovereign Wealth Fund (SWF). Despite the recent parliament sitting, the government’s plans remain unclear. We wait for the answers to two important questions:
When will the Sovereign Wealth Fund be finalised and implemented? Will the operational rules and responsibilities, and the overall role of the Sovereign Wealth Fund, actually be what they said it would be at the outset? With PNG’s LNG exports now regularly reaching Japan’s shores, the government should be ready to answer these questions………………………………………..Full Article: Source

Posted on 23 September 2014 by VRS |  Email |Print

Goldman Sachs responds to accusations that Libya’s sovereign wealth fund was cheated out of more than $1bn during the Gaddafi era. The Telegraph reports that Goldman Sachs has hit back at allegations that the Wall Street giant duped Libya’s $60bn sovereign wealth fund into trades that lost the country vast sums of money while making the bank hundreds of millions in profits.
In court documents, Goldman denied that the Libyan Investment Authority (LIA) had been ‘financially illiterate’ when entering into trades that proved worthless, and rejected claims that its bankers had cosied up to LIA officials. It is also claiming unspecified damages against the LIA………………………………………..Full Article: Source

Posted on 23 September 2014 by VRS |  Email |Print

Goldman Sachs Group Inc (GS) has defended itself against the allegations from the Libyan Investment Authority (LIA). Earlier this year, the Libyan Investment Authority filed a suit against Goldman Sachs, alleging that the bank had forced it to enter several equity derivative transactions worth more than $1 billion.
LIA added that these transactions were extremely risky and poorly documented by the investment bank, which sought to take advantage of the limited financial and legal expertise of LIA and its unsophisticated employees. LIA maintained that the disputed deals offered by Goldman adversely affected the trust and confidence the wealth fund had established with the investment bank………………………………………..Full Article: Source

Posted on 23 September 2014 by VRS |  Email |Print

The non-fulfilment of tax collection growth forecasts has driven the Brazilian government to draw R$ 3.5 billion (US$ 1.7 billion) from Fundo Soberano do Brasil (FSB – the Sovereign Fund of Brazil) to prevent a new cut in non-discretionary (non-mandatory) expenditures. The decision was made public in the Revenues and Expenses Assessment Report released every two months by the Ministry of Planning, which allocates the General Federal Budget. The information was released by government news agency Agência Brasil.
The Sovereign Fund was established using leftover cash from the primary surplus – funds saved for paying interest on the public debt – accrued in 2008. The savings worked as a fallback, in case the government required additional funds for settling public accounts. By late 2012, the National Treasury had drawn R$ 12 billion (US$ 5 billion) to meet the year’s primary surplus target………………………………………..Full Article: Source

Posted on 23 September 2014 by VRS |  Email |Print

Khazanah’s private-equity-style deal with Malaysia Airlines is just the latest in a series of private investments by sovereign wealth funds. Billion-dollar real estate and infrastructure investments made by the rainy-day funds accounted for some of the largest and most valuable deals of 2013, as sovereign funds reached beyond their own borders to snap up private assets. As a result, the world’s most iconic skylines, from New York to London and Paris, are increasingly dotted with buildings and bridges owned by foreign countries.

More and more, sovereign wealth funds are using private markets to diversify their portfolios and achieve higher returns by taking on greater risk. Sovereign funds have doubled their allocations to private markets over the past six years,at the same time that other long-term investors - in particular, public pensions- have dialed back risk to meet outstanding liabilities………………………………………..Full Article: Source

See more articles in the archive

banner
banner
banner
banner
June 2021
M T W T F S S
« Nov    
 123456
78910111213
14151617181920
21222324252627
282930