| Sovereign wealth fund GIC said it had been more defensive in its investing stance in the past year, owing to more challenging investment conditions. The fund's approach was reflected in its move to increase its holdings of bonds and cash, at the expense of developed market equities, which are seen as more risky.
"It reflects our caution on the overall environment. All those reasons we talked about: low growth, high debt and expectation of high volatility," said GIC deputy group president and group chief investment officer Lim Chow Kiat...............................................Full Article: Source
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