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Sovereign Wealth Funds Briefing 24.Nov 2014

Posted on 24 November 2014 by VRS |  Email |Print

Divestment (also known as disinvestment) generally entails the use of economic means to pressure an entity, such as a corporation or government, towards a change in its policies or practices. It usually involves the reduction of an asset to achieve an ethical objective.
Organized economic boycotts have been utilized in a variety of situations where the practices of the impugned entity have been deemed to violate the norms of society, such as in the case of the tobacco industry, arms manufacturers and governments that support policies of apartheid. More recently, divestment strategies have made their way into the environmental protection sphere…………………………………..Full Article: Source

Posted on 24 November 2014 by VRS |  Email |Print

Norway’s largest pension fund has vowed to drop its holdings in coal miners, intensifying pressure on the coal industry from global investors. The NKr470bn ($70bn) KLP pension scheme, which manages the retirement assets of Norway’s public sector workers, will blacklist companies that derive more than 50 per cent of their revenues from coal-based activities.
The pension fund expects the withdrawal to lead to the sale of shares and bonds worth approximately NKr500m. It will publish a list of the companies affected on December 1…………………………………..Full Article: Source

Posted on 24 November 2014 by VRS |  Email |Print

Sovereign wealth funds are buying up assets this year at their fastest rate since the financial crisis as these state-run pools of assets regain the confidence lost when big punts on western banks turned sour, Thomson Reuters data shows.
Thomson Reuters data shows sovereign wealth funds, which invest windfall revenues from oil and other exports for future generations, were involved in deals worth $40 billion (25.55 billion pound) in the first nine months of 2014, the highest rate since 2007. The money was spent across 79 transactions – the highest number since 2008 – with real estate and infrastructure dominating the deal flow…………………………………..Full Article: Source

Posted on 24 November 2014 by VRS |  Email |Print

Qatar’s sovereign wealth fund, Qatar Investment Authority (QIA), is building a global top-end hotel portfolio. QIA displayed strong interests in global hotels and tourism facilities last year, according to a new report.
“QIA confirmed its appetite for trophy-assets and luxury brands by acquiring via its specialised subsidiary Constellations Hotels Holding nothing less than the InterContinental flagship hotels in London and New York; l’Hotel du Louvre in Paris; and the Four Seasons Hotel in Florence. In a separate 100m pounds deal it also acquired the freehold from the Crown Estate, the property company that controls the assets of the Crown in the UK…………………………………..Full Article: Source

Posted on 24 November 2014 by VRS |  Email |Print

Despite this impacting on the finances of the oil-dependent Gulf States, Qatar Investment Authority (QIA) will not change its investment strategy, the sovereign wealth fund’s chief executive stated, reported in the Gulf Daily News.
“In QIA, we have a long-term strategy, which accounts for the volatility in the market,” Ahmed Al Sayed told reporters on the side-lines of the industry conference in Doha. “We are adjusted and ready for such a scenario.” Questioned about a short-term adjustment, he answered: “No, I don’t think so. We evaluate the market from time to time.”………………………………….Full Article: Source

Posted on 24 November 2014 by VRS |  Email |Print

Qatar Investment Authority ( QIA ), the country’s sovereign wealth fund managing billions of dollars in assets, plans to set up a training academy to hone Qatari youth’s financial and business skills and meet the growing demand for qualified business and finance professionals in Qatar which is witnessing economic boom.
Ahmad bin Mohamed Al Sayed, CEO, QIA , told the opening ceremony of the sixth International Forum of Sovereign Wealth Funds (SWF) that the authority is completing procedures for the academy. The Prime Minister and Interior Minister H E Sheikh Abdullah bin Nasser bin Khalifa Al Thani opened the forum…………………………………..Full Article: Source

Posted on 24 November 2014 by VRS |  Email |Print

A Sovereign Wealth Fund (SWF) is a special purpose investment fund that is owned by the government. In general, these funds hold financial assets such as stocks, bonds, property or precious metals.
Around the globe, SWFs have been created to achieve savings, development, reserve investments and stabilisation roles at national level. Savings and stabilisation funds have been more prevalent where the former is created to build up savings for future generations while the latter helps to reduce the volatility of government revenues…………………………………..Full Article: Source

Posted on 24 November 2014 by VRS |  Email |Print

When questioned in Parliament on Thursday about why the Future Fund has not divested from fossil fuels, Chairman Peter Costello was quick to respond that the fund’s only mandate is to deliver investment returns.
Costello’s response is typical of a generation of money managers who don’t yet appreciate the enormous risk that climate change poses to financial markets. So far, it has fallen largely upon the shoulders of environmentalists to draw investors’ attention to this risk, however the issue is now rapidly spreading to the senior levels of global money managers like Goldman Sachs and the world’s largest fund manager, BlackRock…………………………………..Full Article: Source

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