05.11.2012 - Britain's banks should be our national wealth fund
There are not many leaders of a large public company who would openly say their largest investor might want to put their money somewhere else, but among them are the chief executives of Britain's taxpayer backed banks, Lloyds Banking Group and Royal Bank of Scotland. At current valuations, the combined value of taxpayers' investments in the two banks is roughly 40bn. This is a large amount of money to have sitting dormant. Or to think of it another way, United Kingdom Financial Investments, the manager of these stakes, is perhaps the world's most under utilised national wealth fund. Ranked today as a sovereign wealth fund, UKFI would be in roughly the same size bracket as the funds of Libya and Dubai...............................................Full Article: Source
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