| Government of Singapore Investment Corp., manager of more than $100 billion of the city-state’s reserves, said it almost quadrupled its cash allocation and cut investments amid Europe’s debt crisis and slowing U.S. growth.
Cash made up 11 percent of its portfolio in the year ended March, up from 3 percent a year earlier, GIC, as the sovereign wealth fund is known, said in its annual report today. Stocks declined to 45 percent from 49 percent as it pared equities in developed markets, it said, and bonds were reduced to 17 percent from 22 percent...............................................Full Article: Source
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