SINGAPORE’S sovereign wealth fund GIC Pte Ltd has reduced its exposure to riskier assets as a precautionary stance against a backdrop of global economic imbalances and policy risks, reports the Wall Street Journal.
GIC Pte Ltd, which oversees more than US$350 billion (RM1.5 trillion) in assets and is the world’s eighth-largest sovereign wealth fund, said US President Donald Trump’s economic record and other risk factors, including the UK’s planned exit from the European Union and the slow normalisation of US interest rates, would be a significant risk factors for markets in coming years.
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