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Sovereign Wealth Funds Briefing - Categorized | Investment, Market

Singapore’s GIC says no rush to sell Citi, UBS stakes

Posted on 28 September 2010

From Reuters: Singapore sovereign wealth fund GIC is in no hurry to reduce its stakes in Citigroup and UBS as it believes the worst is over for both lenders, the Business Times reported on Tuesday.
“These two banks have weathered the crisis; the worst is behind them. Both banks have returned to profitability over the last two quarters,” GIC Group Chief Investment Officer Ng Kok Song told local media……………………………………….Full Article: Source


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