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Sovereign Wealth Funds Briefing 22.Oct 2015

Posted on 22 October 2015 by VRS |  Email |Print

You have to wonder how Peter Costello and his Future Fund team do it. At a time of intense global financial market volatility, the fund still managed to add $600 million - a return of 0.5 per cent - to its ever-growing investment pool during the September quarter.
Compare that to Super Ratings research, which shows the median return on “balanced option” superannuation accounts during the same period returned declined by 1.7 per cent. The Future Fund also outgunned the same super accounts for every comparable return period - one, three, five and seven years - by a significant margin. It also was comfortably ahead of its own legislated target return of CPI plus 4.5 per cent………………………………………..Full Article: Source

Posted on 22 October 2015 by VRS |  Email |Print

Bjorn Kvarnskog will join Australia’s A$117.8 billion ($85.5 billion) Future Fund in early 2016 as head of equities and a member of the Melbourne-based sovereign wealth fund’s investment committee. Kvarnskog will take over that position from acting head of equities Sarah Carne, who took over when Elspeth Lumsden, the fund’s previous head of equities, left in late 2014, spokesman Will Hetherton said in an e-mail. Ms. Carne will resume her position of director, equities.
Kvarnskog will relocate to Melbourne from Stockholm, where he served as head of global equities with the 310.5 billion Swedish kronor ($37.6 billion) AP4, Stockholm………………………………………..Full Article: Source

Posted on 22 October 2015 by VRS |  Email |Print

Embattled Australian oil and gas producer Santos Ltd said on Thursday it has rejected a A$7.1 billion ($5.1 billion) takeover proposal from a fund backed by the ruling families of Brunei and the United Arab Emirates.
Santos effectively put itself on the block in August, looking to sell assets in a race to cut its A$8.8 billion net debt as its Gladstone liquefied natural gas (LNG) project begins operations amid a sharp slump in oil prices. It said the bid from Bermuda-headquartered Scepter, pitched at a 26 percent premium to its last trade, was too cheap and included conditions that would hurt Santos’ consideration of other alternatives in its asset sale process and a wider strategic review………………………………………..Full Article: Source

Posted on 22 October 2015 by VRS |  Email |Print

Singapore’s sovereign wealth fund GIC announced Thursday (Oct 22) that it has partnered New York-based real estate company Tishman Speyer to co-own an office development project in Hyderabad, India.
The partnership will be in a form of a 50-50 joint venture. Located near the high-growth financial district employment corridor in the capital of southern India’s Telangana state, the total area of the project will be 2.5 million sq ft upon completion. It will house more than 20,000 professionals………………………………………..Full Article: Source

Posted on 22 October 2015 by VRS |  Email |Print

Sovereign wealth funds, known to be long-term global investors, aggressively pulled money out of Indian stocks in the recent emerging market sell-off in the last couple of months. These funds withdrew roughly Rs 6,000-7,000 crore from domestic shares between July and September by selling shares directly, redeeming from global emerging market funds and India-centric funds, according to three people familiar with their investments.
These investors have invested in India through a mix of direct investments, mutual fund schemes and emerging market funds. Official data on how much they pulled out of India is not available. Funds owned by oil-rich countries such as Abu Dhabi, Kuwait, Qatar and Oman were among the top sellers as international crude oil prices crashed to six-year lows………………………………………..Full Article: Source

Posted on 22 October 2015 by VRS |  Email |Print

The city’s real estate market could see increased investment from Japanese institutional investors, with Japan’s Government Pension Investment Fund (GPIF) – the world’s largest pension fund – expected to increase global real estate investment. The GPIF is anticipated to allocated up to 5 percent of its roughly $1.2 trillion in assets into “alternative investments” that would include real estate, according to a report by commercial brokerage CBRE.
That means the pension fund’s total investments in overseas real estate markets alone over the coming years could reach $1.8 billion – equal to total Japanese outbound real estate investment in 2014, CBRE said………………………………………..Full Article: Source

Posted on 22 October 2015 by VRS |  Email |Print

The board of Norway’s central bank is introducing an extra layer of supervision for the country’s sovereign wealth fund, which will need to seek approval for all property deals over $250 million, the bank said on Tuesday. For the first time, the $860 billion wealth fund, the world’s largest, will need approval for some of its most valuable property deals. Property represents 2.7 percent of its total value, which it wants to increase to five percent.
The fund, which invests Norway’s revenues from oil and gas in stocks, bonds and property, will now need approval from a new investment committee for deals over $250 million. Deals worth more than $1 billion will need the approval of the board of the central bank. Until now, the fund’s management, led by Chief Executive Yngve Slyngstad, decided on its own………………………………………..Full Article: Source

Posted on 22 October 2015 by VRS |  Email |Print

The board of Norway’s central bank is introducing an extra layer of supervision for the country’s sovereign wealth fund, which will need to seek approval for all property deals over US$250 million, the bank said on Tuesday. For the first time, the US$860 billion wealth fund, the world’s largest, will need approval for some of its most valuable property deals. Property represents 2.7 percent of its total value, which it wants to increase to five percent.
The fund, which invests Norway’s revenues from oil and gas in stocks, bonds and property, will now need to approval from a new investment committee for deals over US$250 million. Deals worth more than US$1 billion will need the approval of the board of the central bank. Until now, the fund’s management, led by chief executive Yngve Slyngstad, decided on its own………………………………………..Full Article: Source

Posted on 22 October 2015 by VRS |  Email |Print

A council leadership contender has vowed to create a regional sovereign wealth fund to invest in Birmingham businesses, housing and infrastructure. Coun John Clancy, who is front-runner in the battle to succeed Sir Albert Bore as leader, wants to “sweat” the council’s £5-£6 billion land and property assets to build and support jobs, economic growth and housing in the region.
In his detailed manifesto, he says: “This would use our physical asset base to generate capital spend in building housing and investing in business, jobs and infrastructure across all wards of the city, to generate economic growth city-wide. “We must use it to ensure thousands of affordable homes are built each year over the next decade in this city………………………………………..Full Article: Source

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