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Sovereign Wealth Funds Briefing 16.Oct 2015

Posted on 16 October 2015 by VRS |  Email |Print

Lower oil prices along with decrease in revenues of the State Oil Fund of Azerbaijan (SOFAZ) have some positive impact on the fund’s investment portfolio, Deputy CEO of SOFAZ Israfil Mammadov said, participating in Trend’s This Week in Focus program.
Mammadov said that obviously, the main source of the revenues for the oil fund proceeds from oil and gas projects in Azerbaijan. “We invest in many oil importing countries in emerging economies which benefit from oil prices,” he said, adding that in this case, the decrease in oil prices has a positive impact on SOFAZ’s portfolio………………………………………..Full Article: Source

Posted on 16 October 2015 by VRS |  Email |Print

A team of officials from a Canadian university will be in Guyana next month to explore and finalise aspects of the Sovereign Wealth Fund (SWF) the government plans to set up, according to Minister of Governance Raphael Trotman.
Asked for an update on the SWF during a post cabinet press briefing yesterday, Trotman said that the Canadians have used their good offices to allow Guyana to benefit from the processes and the expertise available at the University of Calgary in Alberta………………………………………..Full Article: Source

Posted on 16 October 2015 by VRS |  Email |Print

Singaporean sovereign wealth fund GIC has thrown its weight behind a private equity firm that invests in the UK’s regional property market. Maya Capital said it has secured a £90m loan from GIC to help fund acquisitions in areas outside London and the M25 that have enjoyed a resurgence in activity thanks to the improvement economy and a rise in employment.
Its so-called regional strategy plan is already backed by independent financial firm GWM Capital Advisors, and has completed five deals completed to date including five in Cardiff, Newcastle, and Swansea. It also announced a sixth deal yesterday after buying an office block called Highdown House in Worthing for £6.5m at a net initial yield of 10.25 per cent………………………………………..Full Article: Source

Posted on 16 October 2015 by VRS |  Email |Print

The U.S. government is reviewing Goldman Sachs’ business relationship with Malaysia’s sovereign wealth fund as part of a broader, wide-ranging investigation into 1Malaysia Development Berhad (1MDB), an FBI spokeswoman told Reuters on Thursday.
U.S. law enforcement sources are “aware of Goldman’s possible involvement” in investments with the fund, the spokeswoman said. She added that the bureau has “yet to determine if the matter will become the focus of any investigation into the 1MDB scandal.” A Goldman Sachs spokesman declined to comment when asked about the FBI’s review on Thursday………………………………………..Full Article: Source

Posted on 16 October 2015 by VRS |  Email |Print

Prime minister played a key role at 1MDB, a state development fund that has sparked a raft of investigations. In early 2013 at the glitzy World Economic Forum in Davos, Switzerland, Malaysia’s prime minister approached the country’s longtime financial adviser Goldman Sachs with an urgent assignment.
A government investment fund the prime minister oversaw wanted Goldman to help it raise $3 billion quickly and quietly, according to people close to the bank. The fund, 1Malaysia Development Bhd., or 1MDB, was Prime Minister Najib Razak’s signature initiative, envisioned as helping transform Malaysia into a modern Muslim democracy fueled by new industries………………………………………..Full Article: Source

Posted on 16 October 2015 by VRS |  Email |Print

The sovereign wealth funds of Australia and New Zealand have much in common but the underlying holdings reveal a chasm greater than the Tasman Sea. The most recent portfolio update from NZ Super Fund shows the fund holds an allocation to shares that is nearly double the Future Fund’s while also holding zero cash, a position that makes the Future Fund look positively conservative.
Speaking to The Australian Financial Review, NZ Super Fund’s CEO Adrian Orr said global shares were fairly valued and that fund had plenty of room to add even more shares. “Aggressive is the wrong word to describe the fund” he said. “I could mount an argument that it’s not aggressive enough more easily that I could an argument that it is too aggressive.”……………………………………….Full Article: Source

Posted on 16 October 2015 by VRS |  Email |Print

The coalition Government remains committed to the establishment of the Sovereign Wealth Fund as it believes that this is crucial for sustaining the economic growth and development of Guyana and securing the future of its people.
Minister of Governance Raphael Trotman on Wednesday informed the media that the Government is still working to establish this fund and the Canadian Government has offered assistance in this process………………………………………..Full Article: Source

Posted on 16 October 2015 by VRS |  Email |Print

The world’s largest sovereign wealth funds (SWFs) of oil-producing nations have been selling European equity holdings as lower oil prices pressure governments to seek additional sources of revenue while keeping up with spending commitments, according to a report by NASDAQ Advisory Services.
The sale of European equities by Norges Bank Investment Management, the Saudi Arabian Monetary Agency and the Abu Dhabi Investment Authority started in May and accelerated through the third quarter, the research firm says. ‘With the selling by oil-dependent SWFs showing no signs of abating, and with these funds suffering from more than solely the weak oil price, the buying activity of oil-rich SWFs across firms may well be something of the past,’ the report notes………………………………………..Full Article: Source

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