Did SWFs win or lose on financial bets?

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Sovereign wealth funds, like a lot of U.S. funds, made some pretty big wagers on financial services companies not too long ago. How did they fare? It's been a mixed bag. Kuwait's sovereign wealth fund said over the weekend that it had made a $1.1 billion profit from its Citigroup stake, which it bought in January 2008. That equals a 37 percent annualized return on its initial $3 billion investment.

According to the New York Times, other sovereign wealth funds--backed by the likes of Singapore, Qatar and Abu Dhabi--have also recently realized some capital gains, but not all have fared well. The China Investment Corp. has seen its investment in Blackstone group fare poorly. Temasek Holdings, also backed by the government of Singapore, replaced its leadership team and overhauled its investment strategy after big bets on Barclays, the Times notes. 

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