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Sovereign Wealth Funds Briefing - Categorized | Compliance/Regulation/Legal, Reserve Currencies

Singapore says sovereign fund losses won’t drain reserves

Posted on 16 February 2009

From Reuters: Singapore’s reserves will not be depleted by the losses suffered by its two sovereign wealth funds, Temasek and the Government of Singapore Investment Corp (GIC), a government minister said in remarks published on Sunday.

Lim Hwee Hua, junior minister for finance, said that the decision by GIC, which manages central bank’s reserves, to invest in “dangerous asset classes” was not a sudden move, but a slowly evolving strategy….. Full Article: Source


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