23.02.2009 - How are GCC (and other) Sovereign Funds faring?
From Rgemonitor.com: Recently, Reuters reported that the assets under management of Kuwait's sovereign wealth fund fell to 49 billion Kuwait Dinar ($177.6 billion) at the end of December from 58 billion Kuwait Dinar ($218 billion) in March 2008 - a face value decline of about $31 billion. Given that Kuwait had record oil revenues in 2008 (and a record fiscal surplus even if revenues tailed off in the second half) and KIA likely received record new capital, this implies that investment losses were even larger. It is significant for two reasons..... Full Article: Source