21.12.2009 - Are sovereign wealth funds still focused on long term?
From Gulfnews.com: Timing, perseverance and conviction are the three wise men of investing. Arab sovereign wealth funds (SWFs) seem quite astute in all three departments making handsome rewards on a string of short-term investments. But as they enjoy their spoils observers are asking where their long-term investment strategies have gone. On December 6, the Kuwait Investment Authority (KIA), Kuwait's SWF, announced it made a $1.1 billion (Dh4.04 billion) profit on the investment it made in Citigroup in January 2008. It initially invested $3 billion, meaning its investment grew 37 per cent a healthy return by anyone's standards.......................................Full Article: Source
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