Indonesia to Create a Sovereign Investment Company

Indonesia to Create a Sovereign Investment Company

Indonesia is turning to Singapore’s Temasek Holdings Pte. as a model to create a sovereign investment company to drive development. The government is considering starting an investment holding company for four or five state-owned entities, which could then buy shares in Indonesian companies.

“A super-holding of our SOEs, that could be a very good sovereign wealth fund for Indonesia.”

~ Indonesia Finance Minister Bambang Brodjonegoro

“A super-holding of our SOEs, that could be a very good sovereign wealth fund for Indonesia,” Finance Minister Bambang Brodjonegoro said. “This process has to start.” State banks and energy firms may be possible targets for an investment holding company.

Related Reports: Bloomberg, Business Times

 

About Ministry of Finance of the Republic of Indonesia

In Indonesia, the history of financial manager has existed since ages ago. From the era of kingdom until the time being, Indonesia has had financial manager to be able to conduct the economic development in its governance. Government financial management covers all assets owned by Governments. The fund itself came from the society in the form of tribute, taxes, customs and excise, and others.

As a part of Indonesia government, Ministry of Finance is an institution, which has important role in conducting economic development. Economic development will run smoothly if it has good administration in managing State’s finance. The important role of the Ministry of Finance is managing State’s finance and assisting the leader in the state’s finance and asset. Therefore, the Ministry of Finance can be considered as the guard of state finance (Nagara Dana Rakca).

Visit: Ministry of Finance of the Republic of Indonesia

 

About Temasek

Incorporated in 1974, Temasek is an investment company based in Singapore. Supported by 10 offices globally, Temasek owns a S$266 billion portfolio as at 31 March 2015, mainly in Singapore and Asia.  Temasek’s investment themes centre on: Transforming Economies; Growing Middle Income Populations; Deepening Comparative Advantages; and Emerging Champions. Its portfolio covers a broad spectrum of industries: financial services; telecommunications, media and technology; transportation and industrials; life sciences, consumer and real estate; as well as energy and resources.

Total shareholder return for Temasek since its inception in 1974 was 16% compounded annually. Temasek has had an overall corporate credit rating of “Aaa” by Moody’s and “AAA” by Standard & Poor’s since our inaugural rating in 2004.

Visit: Temasek


The Wealth Insider is the world’s leading wealth intelligence for global wealth managers, investments managers, asset managers, high net-worth service providers and wealthy individuals.  Our global workforce seamlessly present the inside news of the most relevant news, insights, global wealth trends, innovation & digital transformation to our global audience.

Get The Wealth Insider Daily

  • For Press Release,  please contact press@thewealthinsider.com
  • For Media-related enquiries, please contact media@thewealthinsider.com
  • For Advertisement, please contact our official ad agency

 

Bank of Singapore Sees Asia Rich Shift to Paying Fees for Advice

Bank of Singapore Sees Asia Rich Shift to Paying Fees for Advice

Bank of Singapore sees the region’s private banking shifting towards a fee based model instead of charging clients commissions on their transactions. Wealth managers in Asia have traditionally earned the bulk of their client income from commissions, compared to Europe where fee-based advice is more prevalent.

“He expects the trend towards fee-based advice to continue in Asia, adding that it’s possible that the proportion of Bank of Singapore client assets in managed and discretionary portfolios will rise to 40 percent in future.”

~ Bank of Singapore CEO, Bahren Shaari

Bank of Singapore CEO, Shaari said he expects the trend towards fee-based advice to continue in Asia, adding that it’s possible that the proportion of Bank of Singapore client assets in managed and discretionary portfolios will rise to 40 percent in future.

Related Reports: Bloomberg, Business Times

 

About Bank of Singapore

On 29 January 2010, ING Asia Private Bank (IAPB) was acquired by OCBC Bank, one of Asia’s leading financial services institutions. The combined private banking businesses of IAPB and OCBC was subsequently named Bank of Singapore.  As a wholly-owned private banking subsidiary of OCBC Bank, we offer a fully open-architecture product sourcing platform while leveraging on OCBC Bank’s extensive branch network and entire value chain of specialised financial services.

Visit: Bank of Singapore


The Wealth Insider is the world’s leading wealth intelligence for global wealth managers, investments managers, asset managers, high net-worth service providers and wealthy individuals.  Our global workforce seamlessly present the inside news of the most relevant news, insights, global wealth trends, innovation & digital transformation to our global audience.

Get The Wealth Insider Daily

  • For Press Release,  please contact press@thewealthinsider.com
  • For Media-related enquiries, please contact media@thewealthinsider.com
  • For Advertisement, please contact our official ad agency

 

US Banking Regulator Queries Four Investment Banks Including Goldman Sachs on Panama Papers

US Banking Regulator Queries Four Investment Banks Including Goldman Sachs on Panama Papers

New York’s banking supervisor has asked four investment banks including United States group Goldman Sachs and France’s BNP Paribas for details of any offshore dealings related to the Panama Papers. The four investment banks – Goldman Sachs, BNP Paribas, Standard Chartered and Canadian Imperial Bank – have until May 23 to respond.

“New York’s banking supervisor has asked four investment banks including United States group Goldman Sachs and France’s BNP Paribas for details of any offshore dealings related to the Panama Papers”

~ Daily Mail

The banking supervisor had also sent out similar requests for information related to the Panama Papers on April 21 to April 13 other financial institutions including: Societe Generale of France; the Dutch bank ABN Amro; Deutsche Bank and Commerzbank of Germany; Credit Suisse of Switzerland; Nordic institutions Svenska Handelsbanken, Nordea Bank Finland and Skandinaviska Enskilda Banken; and Bank Leumi of Israel.

Related Reports: Business Times, Daily Mail

 

About Goldman Sachs 

The Goldman Sachs Group, Inc. is a leading global investment banking, securities and investment management firm that provides a wide range of financial services to a substantial and diversified client base that includes corporations, financial institutions, governments and individuals. Founded in 1869, the firm is headquartered in New York and maintains offices in all major financial centers around the world.

Visit: Goldman Sachs

 

About BNP Paribas

BNP Paribas is a leading provider of banking and financial services in Europe. It is present in 75 countries with nearly 188,000 employees. The Group holds key positions in its 2 core activities: Retail Banking & Services, comprising Domestic Markets and International Financial Services; and Corporate & Institutional Banking

Visit: BNP Paribas

 

About Standard Chartered

Standard Chartered Bank was formed in 1969 through the merger of two separate banks, the Standard Bank of British South Africa and the Chartered Bank of India, Australia and China. These banks had capitalised on the expansion of trade between Europe, Asia and Africa.  We’re one of the world’s most international banks, with over 1,200 branches, offices and outlets in 71 countries across the globe.

Visit: Standard Chartered

 

About Canadian Imperial Bank

CIBC is the strongest publicly traded bank in Canada by Bloomberg Markets and the only North American bank in the ranking for the last five years. We are focused on meeting our clients’ needs today and into the future to help them keep pace with the ever-changing market.

The Canadian Imperial Bank of Commerce, as it is known today, came into being in 1961. The bank was formed through the merger of the Canadian Bank of Commerce and the Imperial Bank of Canada. At the time, they were two of Canada’s largest banks. 

Visit: Canadian Imperial Bank




The Wealth Insider is the world’s leading wealth intelligence for global wealth managers, investments managers, asset managers, high net-worth service providers and wealthy individuals.  Our global workforce seamlessly present the inside news of the most relevant news, insights, global wealth trends, innovation & digital transformation to our global audience.

Get The Wealth Insider Daily

  • For Press Release,  please contact press@thewealthinsider.com
  • For Media-related enquiries, please contact media@thewealthinsider.com
  • For Advertisement, please contact our official ad agency

 

Busted Deals Have Cost Banks Over US$300 million

Busted Deals Have Cost Banks Over US$300 million

In the world of mergers and acquisitions, 2015 was a record breaking year. However 2016 is proving to be a year of broken deals. More than $395.4 billion in US mergers, including, most recently, Staples’s combination with Office Depot, have fallen apart in 2016, according to data provider Dealogic, felled by exacting regulators, rocky markets or reluctant targets .

“More than $395.4 billion in US mergers, including, most recently, Staples’s combination with Office Depot, have fallen apart in 2016.”

~ Dealogic

Three of the largest collapsed deals this year – Pfizer’s takeover of Allergan, Halliburton’s purchase of Baker Hughes and Staples’ merger with Office Depot – will cost banks more than $300 million in advisory fees, according to a review of regulatory filings. That does not include potentially large fees banks aren’t legally required to disclose.

Related Reports: Wall Street Journal, Financial News

 

About Dealogic

Uncertain markets, continued challenging trading conditions, tighter regulation and increased competition have placed greater pressure on banks to operate more efficient businesses with fewer resources for optimal performance.

Supporting the key businesses within an Investment Bank, the Dealogic Platform provides a consistent management framework across Equity Capital Markets, Fixed Income, Investment Banking and Sales, Trading & Research. Connecting professionals between each core unit, the Platform helps Investment Banking professionals better understand their clients so they can make better decisions, allocate resources and compete more effectively to optimize the flow of capital around the world.

Visit: Dealogic


The Wealth Insider is the world’s leading wealth intelligence for global wealth managers, investments managers, asset managers, high net-worth service providers and wealthy individuals.  Our global workforce seamlessly present the inside news of the most relevant news, insights, global wealth trends, innovation & digital transformation to our global audience.

Get The Wealth Insider Daily

  • For Press Release,  please contact press@thewealthinsider.com
  • For Media-related enquiries, please contact media@thewealthinsider.com
  • For Advertisement, please contact our official ad agency

 

Top 25 Hedge Fund Managers Made a Combined $13 Billion in 2015

Top 25 Hedge Fund Managers Made a Combined $13 Billion in 2015

As the hedge fund industry faces a crisis of confidence, the top hedge fund managers continue to rake in massive returns with the top 25 managers making a combined $13 billion in 2015, according to an annual ranking published by Institutional Investor’s Alpha magazine.

“For the second year running, Kenneth Griffin of Citadel topped the list, a spot he shared with James Simons of Renaissance Technologies”

~ International Business Times

Five of these managers made earnings of more than $1 billion. For the second year running, Kenneth Griffin of Citadel topped the list, a spot he shared with James Simons of Renaissance Technologies. Each earned  $1.7 billion.

Related Reports: International Business Times, New York Times, Reuters

 

About Citadel

Citadel LLC was founded in 1990 and is based in Chicago, Illinois with additional offices in Boston, Massachusetts, New York City, San Francisco, California, London, United Kingdom, Houston, Texas, Toronto, Canada, Greenwich, Connecticut, Dallas, Texas, Hong Kong, Shenzhen, China, and Shanghai, China.

Citadel LLC is a privately owned investment manager. The firm manages separate client focused portfolios for its clients. It also launches and manages hedge funds for its clients. The firm invests in the public equity, fixed income, and alternative investment markets across the globe to make its investments.

Visit: Citadel


The Wealth Insider is the world’s leading wealth intelligence for global wealth managers, investments managers, asset managers, high net-worth service providers and wealthy individuals.  Our global workforce seamlessly present the inside news of the most relevant news, insights, global wealth trends, innovation & digital transformation to our global audience.

Get The Wealth Insider Daily

  • For Press Release,  please contact press@thewealthinsider.com
  • For Media-related enquiries, please contact media@thewealthinsider.com
  • For Advertisement, please contact our official ad agency

 

Investors Pulling their Money out of Hedge Funds

Investors Pulling their Money out of Hedge Funds

In the past two quarters, investors have pulled more money from hedge funds than they put in. The sum was almost $ 17 billion and it is the worst outflow since 2009. More investors are demanding that the struggling funds lower the fees of 2% of assets and 20% of profits that they typically charged.

“In the past two quarters, investors have pulled more money from hedge funds than they put in. The sum was almost $ 17 billion and it is the worst outflow since 2009.”

~ Bloomberg

Hedge-fund managers are seeking new ways to quiet any investor unease. Some are now pitching their own lower-cost products that bear little resemblance to the industry’s traditional offerings in price. One hedge-fund manager, TIG Advisors President Spiros Maliagros, said he believes investors will continue to seek out firms like his for the chance to do better than they would with mainstream investments. But he said the industry needs to be clearer that returns aim to diversify and ease the impact of market swings, not simply earn the highest payouts.

Related Reports: Bloomberg, The Wall Street Journal, Fortune

 

About TIG Advisors

TIG Advisors, LLC is a privately owned hedge fund sponsor. The firm primarily provides its services to institutional investors and other sophisticated investors. It manages separate client-focused portfolios. The firm launches and manages hedge fund for its clients. It primarily invests in public equity and fixed income markets. The firm employs fundamental analysis to create its portfolio. TIG Advisors, LLC was founded in January 1, 2006 and is based in New York City with additional office in Beverly Hills, California.

Visit TIG Advisors

Link: https://www.tigfunds.com/about/


The Wealth Insider is the world’s leading wealth intelligence for global wealth managers, investments managers, asset managers, high net-worth service providers and wealthy individuals.  Our global workforce seamlessly present the inside news of the most relevant news, insights, global wealth trends, innovation & digital transformation to our global audience.

Get The Wealth Insider Daily

  • For Press Release,  please contact press@thewealthinsider.com
  • For Media-related enquiries, please contact media@thewealthinsider.com
  • For Advertisement, please contact our official ad agency

 

Super Prime Property at a Stand Off

Super Prime Property at a Stand Off

There has been a 29% increase in super prime letting deals in 2015/2016, compared to 33% drop in sales for £10m plus homes in 2015. After several years of property developers focusing on the world’s wealthiest individuals in major cities such as London and New York, developers are now facing a super-prime slowdown, as their remaining clientele looks to rent rather than buy.

“There has been a 29% increase in super prime letting deals in 2015/2016, compared to 33% drop in sales for £10m plus homes in 2015.”

~ Wealth X

The movement to renting is a combination of several factors in major cities like London: higher taxes and stamp duties on super-prime properties (especially for second homes), low commodity prices directly impacting the wealth of buyers and calls for greater transparency on asset ownership, are putting the wealthiest off buying super-prime properties.

Related Reports: Wealth X, Knight Frank

 

What is Super Prime Property

There is no hard and fast definition to the prime London property market, although £1m has generally been accepted as the entry point. Similarly the super-prime market lacks a formal definition.
Our view is that £10m is the appropriate starting point, which effectively means this segment encompasses the top 1% of the whole of the central London marketplace.

Visit: Knight Frank


The Wealth Insider is the world’s leading wealth intelligence for global wealth managers, investments managers, asset managers, high net-worth service providers and wealthy individuals.  Our global workforce seamlessly present the inside news of the most relevant news, insights, global wealth trends, innovation & digital transformation to our global audience.

Get The Wealth Insider Daily

  • For Press Release,  please contact press@thewealthinsider.com
  • For Media-related enquiries, please contact media@thewealthinsider.com
  • For Advertisement, please contact our official ad agency

 

China Stock Analysts were Among World’s Worst

China Stock Analysts were Among World’s Worst

China’s stock market was the world’s second worst over the past year. However, analyst covering it did not do much better too. The decline in the Shanghai Composite Index, which has lost more than a third of its value since the end of April 2015, followed by the Shanghai Composite Index’s best rallies ever and shocked global markets has indicated how badly the analysts covering Chinese equities performed.

“Their predictions were off by bigger margins than those of analysts researching stocks in the rest of the world’s 20 largest market”

~ Bloomberg

Their predictions were off by bigger margins than those of analysts researching stocks in the rest of the world’s 20 largest market. It isn’t unusual for analysts to miss badly when equities get hit hard. Year-ahead price targets from analysts covering Greece’s stock market at the end of 2013, just before the country’s credit crisis began taking its toll, proved to be the developed world’s least accurate, overshooting by 50 percent

Related Reports: Bloomberg, The Business Times

 

About Shanghai Composite Index

The Shanghai Stock Exchange Composite Index is a capitalization-weighted index. The index tracks the daily price performance of all A-shares and B-shares listed on the Shanghai Stock Exchange. The index was developed on December 19, 1990 with a base value of 100. Index trade volume on Q is scaled down by a factor of 1000.

Visit: Shanghai Composite Index


The Wealth Insider is the world’s leading wealth intelligence for global wealth managers, investments managers, asset managers, high net-worth service providers and wealthy individuals.  Our global workforce seamlessly present the inside news of the most relevant news, insights, global wealth trends, innovation & digital transformation to our global audience.

Get The Wealth Insider Daily

  • For Press Release,  please contact press@thewealthinsider.com
  • For Media-related enquiries, please contact media@thewealthinsider.com
  • For Advertisement, please contact our official ad agency

 

World’s Biggest Sovereign Wealth Fund Plans to Target Excessive Executive Pay

World’s Biggest Sovereign Wealth Fund Plans to Target Excessive Executive Pay

The world’s biggest sovereign wealth fund is targeting high salaries at companies around the globe in an attempt to exert its influence. Norway’s $870 billion oil fund which has previously never interfered in how much chief executives are paid is now looking for a first company to target publicly on pay in the coming months.

“ This move is significant for almost every listed company in the world as Norway’s oil fund owns on average 1.3% of each one ”

~ CNBC

This move is significant for almost every listed company in the world as Norway’s oil fund owns on average 1.3% of each one. The fund has been making a big push to be more active in corporate governance matter such as election of directors and board composition.

Related Reports: CNBC, Fortune, BBC

 

About Government Pension Fund of Norway

The Government Pension Fund Global was set up in 1990 to underpin long-term considerations when phasing petroleum revenues into the Norwegian economy. Norges Bank Investment Management manages the fund on behalf of the Ministry of Finance, which owns the fund on behalf of the Norwegian people. The ministry determines the fund’s investment strategy, following advice from among others Norges Bank Investment Management and discussions in Parliament. The management mandate defines the investment universe and the fund’s strategic reference index.

Visit: Government Pension Fund Norway


The Wealth Insider is the world’s leading wealth intelligence for global wealth managers, investments managers, asset managers, high net-worth service providers and wealthy individuals.  Our global workforce seamlessly present the inside news of the most relevant news, insights, global wealth trends, innovation & digital transformation to our global audience.

Get The Wealth Insider Daily

  • For Press Release,  please contact press@thewealthinsider.com
  • For Media-related enquiries, please contact media@thewealthinsider.com
  • For Advertisement, please contact our official ad agency