Tom Arnold
(Adds quote from Invesco)
LONDON, Feb 23 (Reuters) - Sovereign wealth funds pulled $16.3 billion from public market investment strategies, largely equities, in the fourth quarter, the most in almost four years, driven largely by redemptions, according to data and research firm eVestment.
The move followed a year in which some funds, including those from Norway, Azerbaijan and Kazakhstan, planned withdrawals to help their governments cope with the coronavirus crisis.
Net outflows from equity strategies managed by third-party fund managers reached $18.5 billion in the final three months of 2020, eVestment data showed.
Global equity markets closed 2020 around record highs after a stimulus-charged rebound helped stocks surge more than 60% from their March lows.
LSAP retained at NZ$100 bln (Recasts with Governor Orr’s comments from press conference)
WELLINGTON, Feb 24 (Reuters) - New Zealand’s central bank said on Wednesday it was in no rush to tighten monetary policy, after it kept interest rates at record lows and sounded a cautious note about the economic outlook.
The Reserve Bank of New Zealand (RBNZ) said it did not expect to tighten settings until it was confident inflation was sustained at the 2% per annum target midpoint and employment was at maximum sustainable level.
There was no specific date when that confidence would “magically arrive”, Governor Adrian Orr said in a news conference. The central bank kept the official cash rate at a record low of 0.25%, as widely expected.
Brazil's record public debt pile rose further above 5 trillion reais in January, while rock-bottom interest rates continued to anchor the cost of servicing it near all-time lows, data showed on Wednesday.
Saudi Arabia raised 1.5 billion euros on Wednesday in a two-tranche bond deal after receiving orders for more than 3.75 billion euros, a document showed.