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Qatar Fund Loses $5.9b

Qatar Fund Loses $5.9bQatar Fund Loses $5.9b

Qatar’s sovereign-wealth fund lost $5.9 billion on paper in 10 days from its stakes in Volkswagen AG and Glencore Plc, Bloomberg reported. Qatar Investment Authority, the biggest holder of VW’s preferred shares and the third-largest owner of its common shares, lost about $4.8 billion from its holdings of the automaker. The wealth fund is also the largest investor in the mining company Glencore, a stake that declined by about $1.1 billion in the same period. The loss calculations assume the fund hasn’t added to or reduced its holdings since the latest disclosures.

 

Financialtribune.com