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3Novices:Singapore sovereign wealth fund GIC sells UBS stake at a loss

Singapore sovereign wealth fund GIC is selling part of its stake in Swiss lender UBS at a loss, nearly a decade after it first invested in the bank at the height of the financial crisis.
GIC sold 93 million UBS shares, effectively halving its stake in the Swiss lender from 5.1 per cent to 2.7 per cent.
“GIC made the UBS sale despite the loss because conditions have changed fundamentally since GIC invested in UBS in February 2008, as have UBS’ strategy and business. It makes sense…
May 16, 2017 at 10:27AM http://ift.tt/2rkkrK3
#3Novices #News #OnlineMedia #China 3Novices China

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