Fading Vision Fund to tip SoftBank into first loss in 15 years in.reuters.com

TOKYO (Reuters) - SoftBank expects its $100 billion Vision Fund to book a loss of 1.8 trillion yen due to the worsening performance of its tech bets, which will tip the group as a whole into its first loss for 15 years.
FILE PHOTO: The logo of SoftBank Group Corp is displayed at SoftBank World 2017 conference in Tokyo, Japan, July 20, 2017.
REUTERS/Issei KatoA third consecutive quarter of losses by the Saudi Arabian-backed fund will push SoftBank Group Corp (9984.T) to an annual operating loss of 1.35 trillion yen ($12.5 billion), it said in a statement on Monday.
SoftBank did not disclose which Vision Fund tech bets were being marked down in the fourth quarter.
Activist investor Elliott Management wants greater transparency at the fund, whose nebulous valuations have contributed to the group’s persistent conglomerate discount.