Losses by Gulf Funds may Reach $450b: Deutsche Bank Issac John 23 December 2008 DUBAI - Losses by Gulf sovereign funds in the global financial turmoil is expected to reach to $450 billion, which is equivalent to the region’s oil income for a whole year, a top executive of Deutsche Bank in the Middle East said. Henry Azzam, Deutsche Bank CEO for the MENA region, said the region’s sovereign wealth funds (SWFs) may not perform well in 2009 after poor 2008 results. According to recent estimates, the size of the combined GCC sovereign funds stood at well over $1.3 trillion,...