Time for SWFs Investment Revamp

Time for SWFs Investment Revamp
Time for SWFs Investment Revamp
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“SWFs are not going to buy hotels in Bermuda when their states need something else,” says Dr. Alexander Mirtchev, chairman of the board of directors of Kazakhstan’s SWF Kazyna and strategic economic adviser to the Kazakh prime minister in a Gulf News interview. They’ve stepped down from their “saviors of Western Capitalism” podium, minding the world’s largest SWF – Abu Dhabi Investment Authority, losing a staggering 75% on their $7.5Bn Citigroup shares investment. No more pouring billions into crippled banks. SWFs will shift focus to productive assets related to their own economies reflating their local economies in order to survive.

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