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Sovereign Wealth Funds Briefing - Categorized | Financials, Investment

South Korean fund weighs Bank of America stake sale

Posted on 17 January 2014

Korea Investment Corp (KIC) will decide whether to sell its around $1 billion stake in Bank of America within a month, after watching its value fall by half since 2008, Korean media reported on Thursday.
The sovereign fund, which manages some $66 billion in assets, held 0.69 percent of the U.S. bank as of September 2013 through its $2 billion investment in Merrill Lynch in 2008, before Merrill Lynch merged with BoA………………………………………..Full Article: Source


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