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.
Last spring, the Norwegian government announced that it would use its $818 billion sovereign wealth fund to do more than simply invest the country’s oil money. From this point forth, said the owners of the world’s largest such fund, it would effectively function as an activist investor, with a mandate to advance social goals and influence corporate behavior.
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.
You can mess with Greece with only modest repercussions, but, as Bloomberg reports, mess with Libya and trouble comes fast. In a strangely familiar case of deja vu, Libya’s sovereign wealth fund (LIA) sued Goldman Sachs over money-losing investments made in 2008, saying the bank exploited the LIA’s inexperience to sell risky derivatives.
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).
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.
Finance Minister Wolfgang Schaeuble hatched a plan to siphon off a huge chunk of sovereign debt for every country in the EU and pretend to do something about it, not now of course, but over the next 20 years.
Allegedly the siphoned off debt would be paid back via a "National Redemption Fund".
Of course the only way to pay that debt back is by raising taxes or cutting spending for 20 years which means it has a snowball's chance in hell of actually working.
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.