UPDATE 1-Bahrain sovereign fund Mumtalakat 2012 net loss narrows | Reuters:
"Bahrain sovereign fund Mumtalakat said on Wednesday its net loss for 2012 narrowed by 32.9 percent as improved performance by its financial services and telecommunications portfolio partly offset lower revenue from its aluminium unit.
One of the smaller sovereign wealth funds in the Gulf region, it had $7.1 billion of assets under management at the end of September. It holds stakes in 40 firms in the kingdom's non-oil sector, including Bahrain Telecommunications Co (Batelco) and Aluminium Bahrain (Alba).
Mumtalakat made a net loss of 181.7 million dinars ($482 million) in 2012, it said in a statement, versus a net loss of 270.6 million a year earlier."
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