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Report: Arab govt funds lost big as markets fell

Report: Arab govt funds lost big as markets fell

A new report indicates investment losses left Gulf Arab government funds more than $80 billion poorer last year despite the windfall from record oil prices.
The Council on Foreign Relations paper also suggests the size of what was thought to be the world's largest such fund is considerably smaller than some estimates have claimed.
The research shows the value of that pool of government money, controlled by the Abu Dhabi Investment Authority and a related investment arm, shed more than a quarter of its value last year.
An ADIA spokesman declined to comment.
The Associated Press obtained an early version of the report, which is due out later Wednesday.


Updated : 2021-03-05 10:03 GMT+08:00