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11-06-2014, 08:50 AM
An honorable member of the Coffee Shop Has Just Posted the Following:
REUTERS: SINGAPORE GIC BETS BIG ON CHINESE DEBT
.node-article .field-name-ad-box-in-article {float: left;margin: 15px 15px 10px 0;}.node-article .field-tags{clear: both;} Post date:
10 Jun 2014 - 8:43pm
http://therealsingapore.com/sites/default/files/styles/large/public/field/image/672814-gic-recession_1_1_0_2.jpg?itok=wyFxxlug (http://therealsingapore.com/sites/default/files/field/image/672814-gic-recession_1_1_0_2.jpg)
Singapore sovereign wealth fund GIC is making waves in the Asian debt markets (http://www.reuters.com/finance/markets?lc=int_mb_1001) with a series of unusually big investments in bonds (http://www.reuters.com/finance/bonds?lc=int_mb_1001) from China (http://www.reuters.com/places/china?lc=int_mb_1001).
According to market sources, in recent weeks, GIC has bought US$700m of unrated 4.7% bonds due 2019 from computer maker Lenovo, a US$400m 2019 private placement from property developer Vanke, and a HK$2bn (US$258m) 3.2% 2020 note from internet group Tencent Holdings.
Adding to the sudden increase in activity, the fund is said to have been behind the anchor order for the US$350m reopening of China (http://www.reuters.com/places/china?lc=int_mb_1001) Resources Land, as well as a big buyer in several other transactions.
The investments in unrated bonds and private placements mark a newly aggressive approach from GIC. It also contrasts with the liquidity-driven investment philosophy of other sovereign wealth funds, which typically prefer to invest taxpayers' money in high-rated and well-traded securities.
"A US$700m order for an unrated bond is a big thing for a sovereign wealth fund," said one banker.
Observers believe the shift in investment strategy marks a rebalancing of GIC's portfolio towards fixed-income assets and North Asia.
Read the rest of the article here: http://www.reuters.com/article/2014/06/06/singaporebondschina-idUSL3N0ON (http://www.reuters.com/article/2014/06/06/singaporebondschina-idUSL3N0ON14G20140606)
Click here to view the whole thread at www.sammyboy.com (http://singsupplies.com/showthread.php?183815-Ass-Loon-BETS-BIG-ON-CHINESE-DEBT-Addictive-Gambler-Just-Like-Husband!&goto=newpost).
REUTERS: SINGAPORE GIC BETS BIG ON CHINESE DEBT
.node-article .field-name-ad-box-in-article {float: left;margin: 15px 15px 10px 0;}.node-article .field-tags{clear: both;} Post date:
10 Jun 2014 - 8:43pm
http://therealsingapore.com/sites/default/files/styles/large/public/field/image/672814-gic-recession_1_1_0_2.jpg?itok=wyFxxlug (http://therealsingapore.com/sites/default/files/field/image/672814-gic-recession_1_1_0_2.jpg)
Singapore sovereign wealth fund GIC is making waves in the Asian debt markets (http://www.reuters.com/finance/markets?lc=int_mb_1001) with a series of unusually big investments in bonds (http://www.reuters.com/finance/bonds?lc=int_mb_1001) from China (http://www.reuters.com/places/china?lc=int_mb_1001).
According to market sources, in recent weeks, GIC has bought US$700m of unrated 4.7% bonds due 2019 from computer maker Lenovo, a US$400m 2019 private placement from property developer Vanke, and a HK$2bn (US$258m) 3.2% 2020 note from internet group Tencent Holdings.
Adding to the sudden increase in activity, the fund is said to have been behind the anchor order for the US$350m reopening of China (http://www.reuters.com/places/china?lc=int_mb_1001) Resources Land, as well as a big buyer in several other transactions.
The investments in unrated bonds and private placements mark a newly aggressive approach from GIC. It also contrasts with the liquidity-driven investment philosophy of other sovereign wealth funds, which typically prefer to invest taxpayers' money in high-rated and well-traded securities.
"A US$700m order for an unrated bond is a big thing for a sovereign wealth fund," said one banker.
Observers believe the shift in investment strategy marks a rebalancing of GIC's portfolio towards fixed-income assets and North Asia.
Read the rest of the article here: http://www.reuters.com/article/2014/06/06/singaporebondschina-idUSL3N0ON (http://www.reuters.com/article/2014/06/06/singaporebondschina-idUSL3N0ON14G20140606)
Click here to view the whole thread at www.sammyboy.com (http://singsupplies.com/showthread.php?183815-Ass-Loon-BETS-BIG-ON-CHINESE-DEBT-Addictive-Gambler-Just-Like-Husband!&goto=newpost).