It is reported yesterday that Singapore soverign wealth fund Temasek Holding had sold all its shares in Bank of America in the 1st quarter of 2009, resulting in estimated losses of between US$2.3b to US$4.6b.
Temasek's investment n BoA start from its investment in Merrill Lynn which it held a 13.7% stakes. It is later converted into BoA shares in Jan follow the bank M&A of Merill Lynn resulting in a 3% of BoA or 188.8 million shares.
Many interesting views and opinions are share in investment & market talks forum about their massive losses and their so call "long term" investment holding. Do feel free to check them out.
Sunday, May 17, 2009
Temasek Sold All of Its Bank of America Shares
