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Sovereign Wealth Funds Briefing - Categorized | Investment, Performance

GIC sitting on $7.7bln loss in UBS stake

Posted on 12 February 2010

From Todayonline.com: The Government of Singapore Investment Corp (GIC) may be sitting on as much as $7.7 billion in unrealised losses from its investment in troubled Swiss bank UBS, based on calculations derived from its latest regulatory filing.

The GIC will convert 11 billion Swiss francs ($14.6 billion) worth of its UBS notes into 230.7 million ordinary shares of the bank on March 5, according to a regulatory filing in the United States on Wednesday………………………………….Full Article: Source


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