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Sovereign Wealth Funds Briefing 25.Feb 2015

Posted on 25 February 2015 by VRS |  Email |Print

Iran will withdraw up to $4.8 billion from its sovereign wealth fund to spend on developing its oil and gas fields next fiscal year under a proposal approved by parliament on Tuesday. The decision to dip into the National Development Fund underlines the heavy financial pressure which Iran faces from low oil prices and international economic sanctions over its disputed nuclear program.
The hard currency allocation, which will supplement other budgetary allocations for the sector, also shows the large sums which Iran needs to spend to modernize its ageing oil fields and crumbling energy infrastructure………………………………………..Full Article: Source

Posted on 25 February 2015 by VRS |  Email |Print

Norway’s state-run investment fund is becoming one of the world’s biggest landlords at a time when other big commercial property owners are sounding alarms about high prices. The $874 billion Government Pension Fund of Norway, the world’s largest sovereign-wealth fund, last year purchased $7.6 billion worth of property globally, more than any other sovereign fund, according to data from real-estate tracker Real Capital Analytics.
The push is part of a broader strategy to improve returns by taking on more risk. The fund, which has generated an annual return of 3.7% since 1998, aims over time to boost its real-estate holdings to 5% from the current 1.3%………………………………………..Full Article: Source

Posted on 25 February 2015 by VRS |  Email |Print

Tired of having its economy whipsawed by big swings in oil prices, Norway in 1996 pened a rainy-day fund to save oil earnings for future generations and cushion the government’s budget from volatility in crude prices. Today the Government Pension Fund Global, as its called, is the world’s largest sovereign wealth fund, with $870 billion in assets.
Its massive size can easily offset the fiscal hit from the recent drop in global oil prices or help prevent “Dutch disease” - the tendency of natural-resource revenues to strengthen local currencies and weaken economic competitiveness- should oil prices rebound………………………………………..Full Article: Source

Posted on 25 February 2015 by VRS |  Email |Print

To say the rapid drop in oil prices has sent shock waves across the global economy might be the understatement of 2015. Only a few months ago, Canada was touting its aspirations and capacity to become an energy superpower. Today, the federal government and oil-producing provinces that include Saskatchewan and Alberta are urgently dealing with unanticipated budget shortfalls.
In January, Finance Minister Joe Oliver announced that the federal government would postpone its budget by at least two months - a move that is almost without precedent. In Alberta, the engine room of Canada’s emerging energy superpower ambitions, Premier Jim Prentice warned of spending cuts of nine per cent in the upcoming budget………………………………………..Full Article: Source

Posted on 25 February 2015 by VRS |  Email |Print

Chinese K-12 online learning and teaching platform – 17zuoye.com has raised $100 million in a Series D round of funding that was led by H Capital, the company told local media.
The other investors in the round include Singapore state-fund Temasek Holdings, DST Advisors and Shunwei Capital Partners. The latest financing deal values the startup at $600 million. 17zuoye, which means “let’s do homework together” in Chinese, was launched in 2011 and provides an interactive platform for students to learn their subjects………………………………………..Full Article: Source

Posted on 25 February 2015 by VRS |  Email |Print

Although in the future, the stabilisation component of the planned sovereign wealth fund should reduce the short-term budgetary impact of a volatile energy market, this will only work as long as the fund is run transparently and in accordance with the Santiago Principles (as opposed to the furtive accountability of many of PNG’s state-owned enterprises).
PNG thus needs to avoid accumulating debt through unsustainable deficits or major further borrowing, particularly for activities which are marginal to government functions, such as equity acquisition (except under the auspices of the sovereign wealth fund)………………………………………..Full Article: Source

Posted on 25 February 2015 by VRS |  Email |Print

Sovereign wealth funds surpassed US$ 7 trillion in assets before the end of 2014. These institutional investors typically have unique liabilities compared to public pensions. Many of the large sovereign wealth funds, funds with over US$ 30 billion in assets, seek long-term investments. When it comes to infrastructure, sovereign wealth funds pursue accommodating investment regimes, low political risk, assurances from government and opportunities to earn stable financial returns.
According to our research, Asia and Europe top the list as the largest recipients of direct infrastructure investment by sovereign wealth funds, followed by Australia and New Zealand. The Americas ranks dead last, even behind Africa. Breaking apart the Americas, South America has few large direct infrastructure investments by sovereign funds, the bulk going to North America………………………………………..Full Article: Source

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