GIC lost 77% of 11 billion of 2007 Swiss franc investment : Reuters

[Confuseous]

GIC's UBS investment is currently worth around 2.5 billion Swiss francs ($2.86 billion).

The sovereign wealth fund has lost about 77 percent of its 11 billion Swiss franc investment in UBS made at the end of 2007, excluding dividends, according to a Reuters calculation based on UBS filings.

The Singapore sovereign wealth fund, ranked as the world's eighth-largest with an estimated $300 billion in assets, has been reducing its exposure to the developed market due to long-term concerns about the U.S. and European fiscal deficits.

- http://in.reuters.com/article/2011/09/27/idINIndia-59573020110927

 

[Papsmearer]

GIC's UBS investment is currently worth around 2.5 billion Swiss francs ($2.86 billion).

The sovereign wealth fund has lost about 77 percent of its 11 billion Swiss franc investment in UBS made at the end of 2007, excluding dividends, according to a Reuters calculation based on UBS filings.

The Singapore sovereign wealth fund, ranked as the world's eighth-largest with an estimated $300 billion in assets, has been reducing its exposure to the developed market due to long-term concerns about the U.S. and European fiscal deficits.

- http://in.reuters.com/article/2011/09/27/idINIndia-59573020110927

See this related thread for more background.

http://www.sammyboy.com/showthread....hed-UBS-and-caused-S-pore-tax-payers-millions