Qatar’s QIA to face USD12b losses in Q4 of this year
30 Sep 2015
(MENAFN) Media reported that the Qatar Investment Authority (QIA), one of the world’s largest sovereign wealth funds, could be facing losses of as much as USD12 billion in the final quarter of the year.
Estimated to be worth about USD250 billion, the QIA has built up a string of stakes in some of the world’s largest corporates, including Royal Dutch Shell, Barclays and Volkswagen.
However, the Financial Times reported that the QIA is expected to see losses at eight of its top 10 holdings during the third quarter, with two days of that period still remaining.
The newspaper said the biggest loss could come from the fund’s stake in Germany’s Volkswagen. The QIA, which is the third-biggest stakeholder in the world’s, is on track to see a paper loss of USD8.4 billion.