Financial Times, 24 Sep 2008, John Burton
The Government of Singapore Investment Corporation (GIC), the sovereign wealth fund that has invested billions of dollars in UBS and Citigroup, is shifting its focus to Asia, although it will not shy away from investing in distressed western financial groups.
"Problems in the US would present very interesting opportunities in impaired assets," Ng Kok Song, GIC's chief investment officer, said. But GIC wanted to raise its emerging markets exposure "particularly Asia, because this is where the growth potential is and this is our backyard", he said.
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