Middle Eastern sovereign investment funds have significantly outperformed their Asian counterparts so far during the economic crisis, largely due to a more limited exposure to ailing western financial institutions, according to a new study.
Sovereign wealth funds from the Middle East and North Africa (Mena) have taken a battering, losing 20-25 per cent last year, the global consultancy Monitor Group says in its report that will be made public today.
They were also involved in four of the 10 largest SWF purchases in OECD financial services companies between the last quarter of 2007 and the first period of 2008 and as a group lost $10.6bn (€7.6bn, ￡7bn), or 54 per cent, from the time of purchase to March 27 2009.
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