Paul Kedrosky at infectious greed has gone to the trouble of compiling a live spreadsheet of notable SWF investments. The average of the nine he’s selected being down currently just shy of 26 per cent.
According to the spreadsheet only two of the investments are actually in positive territory at all - Borse Dubai’s investment in Nasdaq being one. The other, however, is an Abu Dhabi (Mubadala) investment in…The Carlyle Group. In fact, the table misquotes, as Carlyle Group isn’t actually publicly listed. Just as well really, considering what’s happening to affiliated fund Carlyle Capital.
Two other good ones worth mentioning: UBS and the sale of $11.8bn in December to GIC and a Saudi investor (UBS down 33% YTD) and of course, Credit Suisse and Qatar. On the 18th of February, QIA took a 2 per cent stake in the bank - share price $51.46. On the 19th of February, Credit Suisse mentioned that it had forget to mention losses of $2.85bn in its results the week before. Ooops. Share price down 6.6 per cent. Quite a loss in 24 hours.
