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Sovereign Wealth Funds Briefing 12.May 2015

Posted on 12 May 2015 by VRS |  Email |Print

Historically, government bonds have been an asset allocation staple of sovereign wealth funds. Central bank monetary policy is making a significant impact on sovereign debt markets. In the euro zone alone, 26 percent of European government bonds and 54 percent of German Bunds are trading on a negative yield. These unprecedented low yields have pushed SWFs to reassess their weightings and readjust their portfolios.
There has been a global proliferation of SWFs. Roughly half of the funds came into being during the past eight years; three quarters have been in existence since 2000. A further 22 jurisdictions are considering launching their own SWFs………………………………………..Full Article: Source

Posted on 12 May 2015 by VRS |  Email |Print

Historically government fixed income has been an asset allocation staple of sovereign wealth funds (SWF). However, these unprecedented, low bond yields have pushed them to reassess their weightings and readjust their portfolios.Patrick Thomson, global head of Sovereigns, JP Morgan Asset Management, looks at the changing asset preferences of SWFs.
Central bank monetary policy across the globe is significantly impacting markets around the world. In the Eurozone alone, more than a quarter (26%) of European government bonds are trading on a negative yield, over half (54%) of Germany Bunds are trading on a negative yield – with some 23% yielding less than the -20 basis points threshold for European Central Bank (ECB) bond buying eligibility……………………………………….Full Article: Source

Posted on 12 May 2015 by VRS |  Email |Print

Singapore’s sovereign wealth fund GIC Private Limited has adopted Omgeo Alert, the industry’s largest web-based global database for the maintenance and communication of account and standing settlement instructions (SSIs).
The fund has stated that it adopted the solution in order to deliver further improvements in post-trade operational efficiency. GIC has said that it wanted to enhance its enterprise trade lifecycle platform as part of a two-stage process. Phase one involved the importing of SSIs into Alert, with a focus on fixed income instructions, in Q3 of 2014………………………………………..Full Article: Source

Posted on 12 May 2015 by VRS |  Email |Print

Bandhan Financial Services has raised Rs 1020 crore equity from International Finance Corporation, Singapore’s sovereign wealth fund GIC and Small Industries Development Bank of India, its chairman and managing director Chandra Shekhar Ghosh told ET Monday.
GIC has invested Rs 640.87 crore while IFC has pumped in Rs 344 crore into Bandhan, India’s first microfinance lender to get an in-principle approval to set up a bank. Sidbi has invested Rs 35 crore afresh. GIC is first time investor in Bandhan while IFC’s shareholding in the company will raised from 10.9%. Ghosh did not divulge the latest shareholding structure. Sidbi is also an existing shareholder………………………………………..Full Article: Source

Posted on 12 May 2015 by VRS |  Email |Print

A constitutional change was sought on Monday to make Temasek Holdings a bigger contributor to the Government’s coffers, as Singapore prepares for more social and infrastructure spending. The Constitution of the Republic of Singapore (Amendment) Bill, introduced in Parliament by Senior Minister of State for Finance Josephine Teo, will allow the Government to include Temasek as a contributor to its Net Investment Returns (NIR) framework.
The framework, set up in 2009, allows the Government to spend up to half of the long-term investment returns on the net assets managed by the Monetary Authority of Singapore (MAS) and GIC. The amendment to Singapore’s constitution will allow the Government to apply the framework to Temasek as well………………………………………..Full Article: Source

Posted on 12 May 2015 by VRS |  Email |Print

Singapore’s sovereign wealth fund (SWF) GIC Private Limited (GIC) and the Canada Pension Plan Investment Board (CPPIB) led the way in a co-investment worth as much as £3.1 billion (US$4.8 billion) into the UK telecom business of Hutchison Whampoa, controlled by Hong Kong billionaire Li Ka-shing.
GIC and CPPIB agreed to each contribute £1.1 billion to invest in an entity which will be created by merging the businesses of O2 UK and Three UK, two of the country’s major mobile service providers, owned by the Hong Kong-based conglomerate. The combined business will become the number one mobile operator in the UK with nearly 33 million customers, according to a statement by CPPIB. The Canadian pension fund will end up owning an approximate 12% stake in the entity………………………………………..Full Article: Source

Posted on 12 May 2015 by VRS |  Email |Print

Founded in 2006, Australia’s A$117 billion ($93.4 billion) Future Fund is designed both to bolster government finances and offset future public-sector superannuation liabilities beginning in 2020. The fund takes a so-called total portfolio approach, which encourages sector experts to share their investment ideas, which often derive from broad-based themes such as demographic shifts or changes in resource availability.
Sovereign Wealth Center’s Victoria Barbary talked with CIO Raphael Arndt about what lies ahead for Future Fund. This is the the second two part interview. The transcript has been edited for grammar, space and context………………………………………..Full Article: Source

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