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Sovereign Wealth Funds Briefing - Categorized | Performance

Libya sovereign fund suffers big losses

Posted on 26 May 2011

Libya lost billions of dollars on financial products that international institutions sold to Moammar Gadhafi’s sovereign wealth fund, the Financial Times newspaper reported Thursday on its website, citing a confidential Libyan government document.
Societe Generale SA (SCGLA) is among the banks and hedge funds named in about $5 billion in Libyan deals, the report said, adding that the Libyan Investment Authority’s $1.2 billion equity and currency derivatives portfolio suffered a loss of 98.5% percent in its value……………………………………….Full Article: Source

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