Jeremy Warner: Temasek loses its touch on Barclays

Sunday 23 October 2011 08:03

Outlook Temasek, the Singapore sovereign wealth fund, seems to have lost the plot. Unlike Sheikh Mansour bin Zayed al Nahyan of Abu Dhabi, who has just made a killing from his investment in Barclays, Temasek apparently chose the bottom of the market earlier this year to offload its stake in Barclays, thereby clocking up a loss on the investment of £500m.

Temasek's loss on a similar investment in Bank of America was an even more jaw-dropping $3bn. If they haven't been already, someone, somewhere, is going to get fired.

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