17.09.2010 - Sovereign wealth funds scale back
From Fiercefinance.com: That didn't take long. Just a year ago, people were spooked by the rise of seemingly opaque, cash-rich sovereign wealth funds that seemed poised to exercise massive influence via huge investments. They came to the rescue of several financial service companies. But the world has changed since then. The financial crisis led to some painful lessons, and many are now retreating. Some sovereign wealth funds have pulled back sharply, notes Institutional Investor. Temasek, for example, sold its entire stake in Bank of America at a loss of roughly $4.6 billion. Many others have dialed back their exposure more modestly...........................................Full Article: Source
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