Which fund saw $12bn wiped off after VW and Glencore tumbled?

Sovereign wealth fund hit

Natalie Kenway
clock

Qatar's sovereign wealth fund has taken a $12bn hit this quarter, as a result of large weightings in Volkswagen and Glencore, which have seen shares plummet to record lows.

Volkswagen could make up around $8.4bn of the loss, according to the Financial Times, as the German carmaker admitted it had rigged emmissions tests in the US. The Qatar Investment Authority holds common and preferred shares in the firm, where share prices have fallen 50.8% in the past three months alone. The new BP? Volkswagen 'shocker' rocks autos but managers avoid knee-jerk reaction Another top holding in the world's ninth biggest wealth fund is Glencore, which has been shaken by China's slowing demand for commodities and investors' concerns about the company's huge debt pile. The ...

To continue reading this article...

Join Investment Week for free

  • Unlimited access to real-time news, analysis and opinion from the investment industry, including the Sustainable Hub covering fund news from the ESG space
  • Get ahead of regulatory and technological changes affecting fund management
  • Important and breaking news stories selected by the editors delivered straight to your inbox each day
  • Weekly members-only newsletter with exclusive opinion pieces from leading industry experts
  • Be the first to hear about our extensive events schedule and awards programmes

Join now

 

Already an Investment Week
member?

Login

Trustpilot