The Age, 23 Apr 2009 Eric Ellis
"The Timor fund is a minnow in the world's sovereign fund ocean, but its returns make it one of the world's best-performing sovereign wealth fund in the past year.
Its performance has shamed whale SWFs like the Norway pension fund, Singapore's Temasek and the Government Investment Corporation, and the Abu Dhabi Investment Authority, all hammered after huge, ill-fated punts in US and European banks and property.
Temasek lost 31 per cent of its $350 billion-plus portfolio last year, a loss that claimed its executive officer, a member of Singapore's long-ruling Lee family, while Norway took a $140 billion hit on its $440 billion fund, wiping out most of the gains it made since it started investing North Sea oil royalties in the 1990s."
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