Singapore wealth fund GIC, one of the largest shareholders in UBS and Citigroup plans to invest more money in emerging markets and less in developed markets due to the long-term challenges facing the United States and Europe.
Over the 12 months to end-March 2011, GIC increased its exposure to emerging market equities to 15 percent of its portfolio from 10 percent, GIC said in a statement……………………………………….Full Article: Source