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Sovereign Wealth Funds Briefing 18.Feb 2015

Posted on 18 February 2015 by VRS |  Email |Print

Alaska Permanent Fund Corp., Juneau, returned 3.2% for the quarter ended Dec. 31 and 1.9% fiscal-year-to-date, said a news release from the $52.8 billion sovereign wealth fund. The permanent fund’s strategic risk benchmark returned 2.1% and 0.5%, respectively, during the same periods. The permanent fund’s fiscal year ends June 30.
For the quarter, U.S. equity returned 5%; real estate, 4.6%; non-U.S. bonds, 2.8%; private equity, 2.2%; outsourced CIO allocations, 1.3%; U.S. bonds, 1.1%; global equity, 0.7%; infrastructure, 0.3%; absolute-return funds, 0.1%; private markets outsourced CIO allocations, -1.39%; non-U.S. equity, -3.7%; and multiasset emerging markets, -3.5 %………………………………………..Full Article: Source

Posted on 18 February 2015 by VRS |  Email |Print

Most of the surplus is due to the trade balance rather than the income earned from the assets held abroad by Norway’s sovereign wealth fund. The fund produces a large cash flow in absolute terms, but those receipts are far smaller than the export earnings from oil and gas. At the current oil price of about 400 krone per barrel, the government no longer runs a budget surplus and can’t add to the sovereign fund’s holdings: “measured as a share of GDP, the GPFG may have already reached the peak.”
If oil prices don’t rebound and the sovereign fund continues to earn around 3 per cent in real terms each year, Olsen thinks fiscal policy will have to be tightened significantly to offset the decline in petroleum revenues………………………………………..Full Article: Source

Posted on 18 February 2015 by VRS |  Email |Print

This year marks the 40th anniversary of Temasek, one of Singapore’s two sovereign wealth funds (SWFs), along with the Government Investment Corporation (GIC). Set up in 1974 as part of the newly independent city-state’s nation- building effort, Temasek has evolved from a sleepy holding company shepherding an initial portfolio of 35 inherited government-linked companies (GLCs) to a long-term, return-seeking investor with both wealth-management and development mandates.
Temasek is still a government holding company that acts as a shareholder on behalf of the Singaporean government. Today it pursues its developmental mandate by buying direct stakes mostly in Singaporean and Asian companies, and then reinvesting its proceeds from asset sales and dividend income into foreign assets, acting like a private equity fund………………………………………..Full Article: Source

Posted on 18 February 2015 by VRS |  Email |Print

Neptune Orient Lines Ltd. is selling its profitable logistics business to a Japanese logistics-service provider for $1.2 billion, as the Singaporean firm narrows its focus on its struggling container-shipping business.
Neptune Orient Lines, or NOL, which is 65% owned by Singapore state-investment company Temasek Holdings Pte. Ltd., said it has agreed to sell APL Logistics Ltd. to Kintetsu World Express Inc., a company involved in air and ocean freight forwarding………………………………………..Full Article: Source

Posted on 18 February 2015 by VRS |  Email |Print

Khazanah Nasional Bhd unit Destination Resorts and Hotels Sdn Bhd (DRH) is set to venture into another luxury hotel development here, tying up with Thailand-based Minor Hotel Group. The two parties inked an agreement last week to set up the first Anantara luxury resort in Malaysia, at a location yet to be decided.
Minor Hotel chairman William Heinecke said in a statement that the Thai firm may open more than one Anantara hotel in Malaysia. “We believe there is a vast potential for growth in the tourism sector in this beautiful country.” DRH is now undertaking the development of Desaru Coast, the region’s first integrated destination resort located at the south eastern Johor coastline………………………………………..Full Article: Source

Posted on 18 February 2015 by VRS |  Email |Print

Though Azerbaijan is not as tied to the Russian economy, it still is facing difficulties driven by the drop in oil prices. Government finances are based on a $90 a barrel price of oil while currently it is a fraction of that. Thus one of the moves is to tap the $37 billion oil fund – State Oil Fund of the Azerbaijani Republic (SOFAZ).
While some of the investment that will proceed is for prestige projects including that of the May 2015 European Games, much of it will be spent on infrastructure that should in the long-term boost the economic potential of Azerbaijan………………………………………..Full Article: Source

Posted on 18 February 2015 by VRS |  Email |Print

Azerbaijan produced in 2014 some 41.9 million metric tons of oil and gas condensate as compared to 43.1 million metric tons of oil and gas condensate, produced in 2013. The revenues of Azerbaijan’s State Oil Fund (SOFAZ) in 2014 stood at 12,731 million AZN, expenses amounted to 10,117.2 million AZN.
SOFAZ said that as of Jan. 1, 2015, its assets increased by 3.42 percent compared with early 2014 ($35,877.5 million), and stood at $37,104.1 million.The main purposes of SOFAZ are the accumulation of funds and the placement of these fund’s assets abroad to minimize negative impact on the economy, and prevention of the “Dutch disease”………………………………………..Full Article: Source

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