| GIC Pte, manager of more than $100 billion of Singapore’s reserves, said it’s more positive on emerging markets, citing growing middle classes, valuations and the progress of reforms.
Emerging markets “of course have their own challenges, but we find that the valuation is not the hurdle,” Lim Chow Kiat, the sovereign wealth fund’s chief investment officer, said in an interview as GIC released its annual report on Aug. 2 and warned about elevated prices in developed markets. “We are not starting with high-asset prices.”..............................................Full Article: Source
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