Nigeria's $1 billion sovereign-wealth fund is set to start operating in the next few months, in what would mark a crucial step to help the government finance the revamping of its ramshackle roads and power grids.
Nigeria's $1 billion sovereign-wealth fund is set to start operating in the next few months, said the country's finance minister Ngozi Okonjo-Iweala, in what would mark a crucial step to help the governement finance the revamping of its ramshackle roads and power grids.
Norway’s new government vowed to cut income taxes, sell state assets and establish a 100 billion- krone ($17 billion) fund to aid the construction of roads and other infrastructure in western Europe’s largest oil producer.
Erna Solberg, leader of the Conservative Party and incoming prime minister after winning the Sept. 9 election, and Progress Party leader Siv Jensen Monday presented a 75-page platform revealing how the coalition plans to rule Scandinavia’s richest economy over the next four years.
Yesterday we described in extensive detail just how on September 10, 2008, by way of a glaringly erroneous margin call, either purposefully or by accident JP Morgan managed to extract over $250 million in variation margin cash from Lehman, which may well have been the catalyst for the end of Dick Fuld's megabank as it precipitated several other multi-billion margin calls from both JPM and other banks, ultimate;y leading to Lehman's liquidation filing fi
Lots of countries have so much oil and gas wealth that they don't know to do with it. Some U.S. states do too. So they put it into a sovereign wealth fund — basically a giant, actively-managed investment portfolio. Here's a map of every sovereign wealth fund in the world, via the Sovereign Wealth Fund Institute (red=oil and gas, blue=not, although we think there's some overlap).
In January, we discussed the stunning fact that Spain's social security pension fund was 90% allocated to Spanish sovereign debt. The latest data shows that this farcical epic reach-around has become even more ridiculous as, according to Bloomberg BusinessWeek, the fund's holdings are now 97% weighted to sovereign bonds.
DOHA (Reuters) - Qatar will create a new $12 billion investment firm, backed by blue-chip assets from its sovereign wealth fund, and list it on the local stock exchange, its main institutional backer said on Tuesday.
Brendan Ross submits:The Statens Pensjonsfond, Norway's sovereign wealth fund, combines the oil profits from its 2/3 stake in Statoil with an aggressive, 60% equities investment strategy. The Pensjonsfund is massive, has a very long investment horizon and is actively managed. Norway's Finance Ministry recently hired three well known professors to analyze the Pensjonsfond's stewardship of Norway's $525 billion. The results were surprising.
Norway's sovereign wealth fund lost $15 billion last year as European stock prices fell over uncertain growth prospects amid the debt crisis, the country's central bank said Friday.Investments made by the oil and gas rich country's sovereign wealth fund suffered a 2.5 percent loss in 2011 worth 86 billion kronor ($15 billion, 11.4 billion euros).
By Michael L. Boyer:
Tony Gray's book 1,000 miles From Wall Street extolled the clarity investors can find far from the noise and haste of financial centers. In the wake of recent volatility, perhaps an idea from 3,000 miles away could be even better.