“Sovereign Wealth Funds” should have been the words of 2007, not “sub-prime” as reported in many newspapers at the end of the year!
The above was the heading of my New Years message and prompted quite a few enquiries requesting information as to “What are Sovereign Wealth Funds (SWF)?”.
My answer has to be--they are just another source of capital available for investment globally, as was so readily exploited by the likes of UBS, CitiGroup and Merrill Lynch as the extent of their problematic exposure to “sub-prime” debts became apparent.
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