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Sovereign Wealth Funds Briefing - Categorized | Financials, Performance

Gaddafi fund gets 38pct returns from ICICI ADRs

Posted on 04 July 2011

Sovereign wealth fund Libyan Investment Authority (LIA), controlled by Libyan dictator Muammar Gaddafi, has made an impressive return by investing in the ADRs (American Depository Receipts) of ICICI Bank.

As per the portfolio disclosed in a leaked internal document — the Management Information Report of the LIA — which was published Friday by independent campaign group Global Witness, LIA’s investment in ICICI Bank appreciated by about 38 per cent in the third quarter of 2010 (between June and September)………………………………………Full Article: Source

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