Sovereign and public pension fund assets reach record high of $31.9tn in 2021
Assets managed by the world’s sovereign wealth funds and public pension funds reached a record high of $31.9 trillion in 2021, boosted by a rally in the US stock market and rising oil prices, according to a report by industry tracker Global SWF.
Assets held by sovereign wealth funds rose 6 per cent to $10.5tn during the year, while those managed by public pension funds climbed 8.7 per cent to $21.4tn, the annual report on state-owned investors showed.
These state-owned investors invested more capital than in any of the previous six years – both in terms of the value and volume of deals – collectively spending $219 billion on 854 deals.
Sovereign funds deployed $106.1bn on 500 transactions, up 19 per cent annually, while investments by pension funds rose to $112.9bn in 354 deals.
Saturday, 1 January 2022
Reliance to Raise Up to $5 Billion in Offshore Bond Offering - Bloomberg
Reliance to Raise Up to $5 Billion in Offshore Bond Offering - Bloomberg
Reliance Industries Ltd. said it will raise as much as $5 billion in foreign currency denominated bonds and use the proceeds to mainly refinance existing borrowings.
The board approved the plan, which will consist of senior unsecured notes issued in one or more tranches, the company said Saturday in a stock exchange filing.
Earlier, the Economic Times newspaper reported that the sale is poised to become the single largest such borrowing by an Indian company.
While the exact pricing of the bonds has not been made available, there are expectations the 10-year debt may be offered at about 110 to 130 basis points over the U.S. Treasury benchmark, and the 30-year debt may be at 130 to 140 basis points over similar-maturity Treasuries, the Economic Times said.
Reliance Industries Ltd. said it will raise as much as $5 billion in foreign currency denominated bonds and use the proceeds to mainly refinance existing borrowings.
The board approved the plan, which will consist of senior unsecured notes issued in one or more tranches, the company said Saturday in a stock exchange filing.
Earlier, the Economic Times newspaper reported that the sale is poised to become the single largest such borrowing by an Indian company.
While the exact pricing of the bonds has not been made available, there are expectations the 10-year debt may be offered at about 110 to 130 basis points over the U.S. Treasury benchmark, and the 30-year debt may be at 130 to 140 basis points over similar-maturity Treasuries, the Economic Times said.
OPEC+ Seen Reviving Output in Sign of Confidence for 2022 Demand - Bloomberg
OPEC+ Seen Reviving Output in Sign of Confidence for 2022 Demand - Bloomberg
OPEC and its allies are expected to revive more oil supplies when they meet next week, underscoring the group’s optimism in the outlook for global demand.
The 23-nation alliance led by Saudi Arabia and Russia is likely to proceed with another modest monthly hike of 400,000 barrels a day as it restores production halted during the pandemic, according to a Bloomberg survey. Several national delegates also said they expect the boost -- due to take effect in February -- will go ahead.
The Organization of Petroleum Exporting Countries and its partners see global demand continuing to recover this year, taking only a “mild” hit from the omicron variant. Their confidence is being validated as busy traffic across key Asian consuming countries and dwindling crude inventories in the U.S. buoy international prices near $80 a barrel.
“The market can take the extra oil, as long as omicron or a macro downturn don’t crush demand again,” said Bob McNally, president of consultant Rapidan Energy Group and a former White House official.
OPEC and its allies are expected to revive more oil supplies when they meet next week, underscoring the group’s optimism in the outlook for global demand.
The 23-nation alliance led by Saudi Arabia and Russia is likely to proceed with another modest monthly hike of 400,000 barrels a day as it restores production halted during the pandemic, according to a Bloomberg survey. Several national delegates also said they expect the boost -- due to take effect in February -- will go ahead.
The Organization of Petroleum Exporting Countries and its partners see global demand continuing to recover this year, taking only a “mild” hit from the omicron variant. Their confidence is being validated as busy traffic across key Asian consuming countries and dwindling crude inventories in the U.S. buoy international prices near $80 a barrel.
“The market can take the extra oil, as long as omicron or a macro downturn don’t crush demand again,” said Bob McNally, president of consultant Rapidan Energy Group and a former White House official.
