21.05.2009 - SWFs are cutting their losses on global banks.
“Smart Trade Group”, the Asian-based private fund, believes that losses on over $60 billion of sovereign wealth fund capital were easily foreseeable and preventable. Sovereign wealth funds from China, Singapore and the Middle East ploughed huge sums of their countries’ wealth into US, European and UK banks at the height of the credit crisis after assurances that conditions were unlikely......Full Press Release: Source