Mon, May 23, 2022
A A A
Welcome mteam
RSS
Sovereign Wealth Funds Briefing 02.Nov 2015

Posted on 02 November 2015 by VRS |  Email |Print

Norway’s central bank, which manages the world’s biggest sovereign wealth fund, has started buying shares in Colombo listed companies. Norges Bank has bought 7.5 million shares in knit fabric maker Textured Jersey Lanka, a media report said. The fund started investing in Textured Jersey around September.
Norges Bank Investment Management has close to a trillion dollars invested in global assets, a fund built from the country’s oil revenues. The fund is currently valued at 7.2 trillion Norwegian Kroner, or 835 billion dollars. Out of the fund, 9.1 percent is invested in emerging markets such as China, Taiwan and India, an investment allocation down from 9.8 percent last year………………………………………..Full Article: Source

Posted on 02 November 2015 by VRS |  Email |Print

Norway will need to dip into its massive sovereign wealth fund and cut refugee benefits to pay for rising costs linked to the record influx of asylum seekers, the government said Friday, AFP reported. The government, which expects 33,000 asylum seekers in 2016 or roughly three times the annual number in recent years, estimated that the large number of migrants would cost it 9.5 billion kroner (one billion euros, $1.1 billion) more than it had forecast in its October 7 budget.
To finance the extra cost, the right-wing government — which includes the populist, anti-immigration Progress Party — proposed to withdraw 1.2 billion kroner from its public pension fund, which is the world’s largest sovereign wealth fund………………………………………..Full Article: Source

Posted on 02 November 2015 by VRS |  Email |Print

Just three weeks after announcing it will dip into its massive $860 billion piggy bank for the first time, the Norwegian government is at it again. The government will use 209 billion kroner ($24 billion) of its oil revenue in its budget next year, up from the 207.8 billion it planned to spend in its initial proposal released Oct. 7. It’s also scaling back planned income tax cuts and a reduction to its wealth levy to cover 9.5 billion kroner in extra costs from an expected inflow of about 33,000 refugees next year.
“In September Norway received a larger number of asylum-seekers than in the entire first half of the year, giving rise to practical and economic challenges,” Finance Minister Siv Jensen said in a statement………………………………………..Full Article: Source

Posted on 02 November 2015 by VRS |  Email |Print

The world’s largest sovereign wealth fund posted its biggest loss in four years, dragged down by Chinese stocks and Volkswagen, just as the Norwegian government prepares to make its first ever withdrawals to plug budget deficits. The $860bn fund lost 273bn kroner ($32bn) in the third quarter, or 4.9%, the Oslo-based investor said. Its stock holdings declined 8.6%, while it posted a 0.9% gain on bonds and a 3% return on real estate. It was the first back-to-back quarterly loss in six years.
“We have to expect fluctuations in the value of the fund when there are large movements in the market,” said Yngve Slyngstad, its chief executive officer. “With the fund as big as it is today, this can have a considerable impact in the short term. The fund has a long-term horizon, however, and is in a good position to ride out short-term volatility.”……………………………………….Full Article: Source

Posted on 02 November 2015 by VRS |  Email |Print

In regularity the topic “Swiss SWFs” always comes back to the media agenda. Mostly this is the case, when the Franks again by massive capital inflows threatens upgrade. This could soon be possible again if the ECB should decide to expand their securities purchases. You would then have more liquidity shoot in the markets from which a
Removing part of the euro and could accrue in the franc area. This often results in the suggestion that Switzerland could still use their inflowing foreign currency to build up a sovereign wealth fund. The capital inflow would not revalue the franc further, since the currency again would be used for the purchase of foreign shares, bonds or alternative investments. This could be used for an in Notlangen and would on the other hand a higher current ……………………………………….Full Article: Source

Posted on 02 November 2015 by VRS |  Email |Print

Kazakhstan’s sovereign wealth fund Samruk-Kazyna is keeping no “sacred cows” as it prepares to sell stakes in 43 large units including energy companies, its deputy head said. The fund may offer shares in shipping company KazMorTransFlot and is examining the possible sale of stakes in the downstream business of KazMunaiGaz National Co., which may include Kazakhstan-based refineries and Rompetrol, Deputy Chief Executive Officer Dauren Erdebay said in an interview Thursday.
“Besides the pre-sale preparation of a company, the government will do a lot of work in terms of sector regulation, taking into account our task to have an environment where buyers will be able to continue effective ownership,” he said………………………………………..Full Article: Source

Posted on 02 November 2015 by VRS |  Email |Print

The prospect of lay-offs in the oil sector triggers painful memories of a month-long oil workers’ strike in Zhanaozen in 2011 that ended in bloody clashes with police. That episode was one of the darkest moments in its post-Soviet history for Kazakhstan, and also for Mr Kulibayev. As head of Samruk-Kazyna, the sovereign wealth fund that ultimately owned the oilfields where the strikes took place, he took much of the blame and was publicly sacked by the president.
Oil output in Kazakhstan, the world’s 18th-largest producer, is set to fall 1.6 per cent this year and may fall 10 per cent next year in a low-price scenario, government officials have warned………………………………………..Full Article: Source

Posted on 02 November 2015 by VRS |  Email |Print

Nigeria’s Vice President Yemi Osinbajo has said that the Government plans to set up a $25 billion infrastructural fund, which will be sourced from local and international sources including through Nigeria’s Sovereign Wealth Fund and also the pension fund among others.
Receiving the Italian Ambassador in Nigeria, Mr. Fulvio Rustico, and the Canadian High Commissioner in Nigeria, Mr. Perry Calderwood, at the Presidential Villa on Thursday in Abuja, Osinbajo said that the fund would be used to address the nation’s decaying road, rail and power infrastructure. “This is our approach to speeding up the country’s infrastructural development,” he said………………………………………..Full Article: Source

Posted on 02 November 2015 by VRS |  Email |Print

Nigeria’s Vice President, Yemi Osinbajo has released a statement that the Buhari administration intends to spend $25 billion on an infrastructure fund to invest in the transport and energy sector as a way to develop the country’s failing road, rail and power structures to boost economic growth.
Although, the VP did not state the timeline guiding the fund, he said the fund would be set up with contributions from local and international sources including Nigeria’s sovereign wealth fund and domestic pension funds. The NSIA was actually set up for the purpose of managing and investing funds on behalf of the Nigerian government. He further stated that other sovereign wealth funds have already indicated an interest in the fund………………………………………..Full Article: Source

Posted on 02 November 2015 by VRS |  Email |Print

Defence Minister Datuk Seri Hishammuddin Tun Hussein said a debate on 1Malaysia Development Berhad (1MDB) can be held if it can explain the issue to the public. “I welcome the debate but fear that it may be destructive and not beneficial to the public. Prime Minister Datuk Seri Najib Razak wants the 1MDB issue to be resolved quickly,” he said.
1MDB President and Group Executive Director, Arul Kanda Kandasamy has said he is ready for a debate with Member of Parliament for Petaling Jaya Utara Tony Pua on the sovereign wealth fund.Arul was responding to a challenge thrown by Pua in his blog. Radio Televisyen Malaysia (RTM) is reported to have said that it is willing to broadcast the debate live………………………………………..Full Article: Source

See more articles in the archive

banner
banner
May 2022
M T W T F S S
« Nov    
 1
2345678
9101112131415
16171819202122
23242526272829
3031