TEMASEK Holdings and the Government of Singapore Investment Corporation (GIC) are not the only sovereign wealth funds (SWFs) seeing shrinking portfolios in the fallout from the worst financial storm since the 1930s.
The Kuwait Investment Authority (KIA) said on Tuesday it had lost US$30.73 billion (S$46.38 billion) from March to December last year. The Council on Foreign Relations, an independent New York-based organisation, estimated that the KIA's portfolio shrank from US$262 billion in December 2007 to US$228 billion a year later.
Earlier this week, it was revealed in Parliament that Temasek's net portfolio value dropped 31 per cent between March 31 and Nov 30 last year, from $185 billion to $127 billion. The value of GIC's investments also declined last year but the numbers were not disclosed.
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