Singapore’s sovereign wealth fund regrets FTX investment

Singapore's sovereign wealth fund, Temasek, has taken the unusual step of announcing its disappointment with a particular investment, and punishing those responsible for it.

shares – a very lucky number in Chinese numerology – in Dell's holding company Denali as part of the takeover of EMC.Chairman's Statement"While there are inherent risks whenever we invest, we believe that we have to invest in new sectors and emerging technologies to understand how these areas may impact the business and financial models of our existing portfolio, and whether they would be drivers of future value in an ever-changing world," wrote chairman Lim Boon Heng.

"Nevertheless, we are disappointed with the outcome of our investment, and the negative impact on our reputation."

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FTX: Singapore state fund Temasek cuts pay after failed investmentLast year, Temasek Holdings wrote off all of the $275m (£222.8m) it had invested in FTX.
Fuente: BBCTech - 🏆 81. / 55 Leer más »