| Remember sovereign wealth funds (SWFs), the global investment arms of states which have more oil revenues or foreign exchange earnings than they know what to do with? Back before the credit crunch of 2008, SWFs were big news because they were snapping up western companies using their massive earnings from the commodities boom.
But interest in SWFs faded with the credit crunch when a collapse in the value of their equity portfolios forced the funds to become more cautious. SWFs that invested heavily in bank shares took an especially big hit...............................................Full Article: Source
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