12.12.2008 - SWFs taste bitter losses
From Businessweek.com: So far this year, the funds have seen declines of an estimated 18% to 25% of their assets, which could lead to closer scrutiny in the future. Norway's $300 billion Government Pension Fund-Global, reported a negative 7.7% return against an international currency basket in the third quarter through September. That was the worst performance in the 18-year history of the fund, which invests Norway's oil revenues. And it doesn't include the likely further drubbings in October and November. .... Full Article: Source