01.10.2015 - Glencore, VW hits to push Qatar sovereign fund to diversify more
Qatar Investment Authority's hit from the slide in Volkswagen and Glencore shares can only underline the sovereign wealth fund's need to continue to diversify its asset base, industry sources said. The German carmaker has been pummeled over an emission testing scandal while the miner has came under pressure over its debt load, together wiping $5.8 billion off the Qatar fund's holdings since Sept. 18, according to Thomson Reuters data. Much has been made of the scale of the Qatar Investment Authority's (QIA) paper losses at a time lower oil prices are reducing the flow of petrodollars into Gulf sovereign wealth funds. QIA has 8.2 percent of Glencore, 17 percent of Volkswagen ordinary shares and 12.8 percent of its preference shares...............................................Full Article: Source
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