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Sovereign Wealth Funds Briefing 19.Mar 2015

Posted on 19 March 2015 by VRS |  Email |Print

The Minister of Finance, Seth Terkper says the country would use part of its sovereign wealth fund, which has accumulated $600 million to manage current economic challenges brought about by the shortfall in projected oil revenue. Speaking at the opening of the Financing the Future Conference in Accra, Ghana, March 17, 2015, he said the stabilisation fund has accumulated $600 million so far.
Mr. Terkper noted that since the country attained its middle income status, access to concessional financing has decreased significantly. “Inflows from our development partners are highly volatile showing a cyclical effect (especially in election year when DPs adopt a wait-and-see approach to aid delivery)………………………………………..Full Article: Source

Posted on 19 March 2015 by VRS |  Email |Print

The Arab street was in uproar at the shock news of the departure of its favourite peace envoy. Young men and women, holding pictures of Tony Blair, marched through Arab capitals demanding his return. A #bringbackTony Twitter campaign rapidly gathered momentum.
The Blair business acumen has also been appreciated. Kuwait and an Abu Dhabi sovereign wealth fund have been clients of his firm. Admiration for Mr Blair was enhanced in the aftermath of the Arab spring, when some leaders in the region felt abandoned by a western world that embraced democracy even if it benefited Islamists………………………………………..Full Article: Source

Posted on 19 March 2015 by VRS |  Email |Print

Nigeria’s $1.55 billion sovereign wealth fund (SWF) had a “good year” after weighting its investments toward dollar assets, according to Chief Executive Officer, Mr. Uche Orji. “Our currency position was great as we were very long the dollar,” Bloomberg quoted Orji, a former Goldman Sachs Incorporated banker and head of the Nigerian Sovereign Investment Authority to have said in an interview in Geneva.
The Abuja-based wealth fund, set up by Nigerian President Goodluck Jonathan in 2011, gained exposure to the dollar through equities, private equity and fixed-income assets, said Harvard-trained Orji. The fund, which invests revenue generated when the OIL PRICE exceeds that budgeted by the government of Africa’s biggest crude producer, has adjusted to the market slump since June, he added………………………………………..Full Article: Source

Posted on 19 March 2015 by VRS |  Email |Print

Saving for retirement is all about saving for the long term, so it is continually surprising to see the extent to which individual investors and advisers favour short-term, highly liquid assets in their portfolios. Large allocations to equities and cash are typical of self-managed funds and much higher than across the managed funds industry in general.
The country’s sovereign wealth fund, the Future Fund, attributes much of its outperformance of listed markets since inception to its high allocation to alternatives, which now stands at 37 per cent………………………………………..Full Article: Source

Posted on 19 March 2015 by VRS |  Email |Print

The Asian Infrastructure Bank is gaining support with European countries signing up. Not surprisingly, US is sulking. Is the tide turning on the Asian Infrastructure Investment Bank, the new development bank being pushed by China to help plug Asia’s multi-trillion-dollar infrastructure financing deficit?
Besides, the signs are that nothing but the highest standards are planned for the bank. For instance the person expected to be in charge, Jin Liqun, is the former chair of the board of supervisors of China Investment Corporation, the Chinese sovereign wealth fund with $200 billion of registered capital, and chair of the International Forum of Sovereign Wealth Funds. He’s also a former vice president of the Asian Development Bank………………………………………..Full Article: Source

Posted on 19 March 2015 by VRS |  Email |Print

The Government’s Pension Fund Global, currently worth over 7.000 billion Norwegian kroner (€796 billion), have invested 32.095 million kroner in Russia, mainly in oil- and gas and the banking sector. That is also the two sectors, in addition to the military industrial complex, that are highlighted in the EU and US sanctions regime against Moscow.
The Norwegian regulations on restrictive measures imposed from August 15th, 2014, lists five Russian banks, including the two in which the Norwegian fund owns shares; VTB Bank and Sberbank. In Sberbank, the fund also holds bond investments worth nearly 90 million kroner. That investment was made last year………………………………………..Full Article: Source

Posted on 19 March 2015 by VRS |  Email |Print

More than 10,000 people have called on the fifth largest pension fund in the world to divest from oil, coal and gas. Members of the Dutch pension fund ABP handed over a petition to the fund’s managers on Tuesday asking them to remove fossil fuel company holdings from its $360bn (£250bn) portfolio.
The campaign is part of a fast-growing movement, launched by the campaign group 350.org, that is putting pressure on institutions around the world to remove their investments from fossil fuels. Around 60% of those who signed the petition to ABP currently hold their pension with the fund………………………………………..Full Article: Source

Posted on 19 March 2015 by VRS |  Email |Print

Kazakhstan, Azerbaijan, Georgia and Turkey intend to set up a joint transport company for rail transport as part of TRACECA program, Ambassador of Kazakhstan to Azerbaijan Amangeldy Zhumabayev said. “The countries are currently preparing an agreement on transit transportation,” he said. “It will introduce a single tariff for the transportation of goods and simplify the registration of contracts to suppliers.”
The State Oil Fund of the Republic of Azerbaijan (SOFAZ) finances the project in accordance with the Azerbaijani president’s decree ‘On the implementation of the Baku-Tbilisi-Kars project activities’ dated February 21, 2007………………………………………..Full Article: Source

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