Sovereign Wealth

New SWF event to be held in London

Whether being portrayed as villains for their opacity and secrecy, or as saviours for shoring up the capital bases of some of the biggest investment banks, sovereign wealth funds have seldom been off the front page of late.

GIC and Kuwaiti SWF invest in Citi

Citi, the world's biggest bank, revealed on Tuesday that the Government of Singapore Investment Corporation (GIC) and the Kuwait Investment Authority were part of a group of investors involved in a $12.5 billion capital injection.

Top European politicians attack SWFs

Nicolas Sarkozy, France's president, on Saturday criticised the hypocrisy of sovereign wealth funds which are keen to buy foreign firms but disallow outside ownership in their own economies. His comments followed those of Charlie McCreevy, an EU…

SWFs investment in banks: an alarming trend?

In the wake of the credit crunch banks' capital cushions have deflated dangerously. And, in response, some have turned to one group of investors untouched by subprime credit or by mark-to-market reporting requirements: sovereign wealth funds (SWFs)…

Pacific Island SWFs hampered by mismanagement

Little integration with budgets, institutional weaknesses and inadequate controls have hindered the performance of sovereign wealth funds run by the authorities in Pacific Island countries, research published by the International Monetary Fund finds.

Singapore SWF could invest $5 billion in US bank

Temasek, the Singapore finance ministry's sovereign wealth fund, could be the latest fund to cash in on Wall Street's subprime losses by injecting as much as $5 billion into Merrill Lynch in exchange for what could amount to a 10% stake in the American…

China SWF invests $5 billion in Morgan Stanley

The China Investment Corporation (CIC) became the latest sovereign wealth fund to capitalise on commercial banks' subprime losses on Wednesday, injecting $5 billion into Morgan Stanley, an American financial services group. The deal could lead to CIC…

SWF stakes should be limited: SNB's Hildebrand

Sovereign wealth funds' stakes in foreign companies must be significantly below the threshold of a controlling minority to avoid a resurgence of state ownership, said Philipp Hildebrand, the vice chairman of the Swiss National Bank.

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