pionline.com, 23 Sep 2008, Thao Hua
Government of Singapore Investment Corp., which manages a sovereign wealth fund with more than $100 billion in assets, plans to increase its emerging markets exposure, possibly through private equity funds, confirmed spokeswoman Jennifer Lewis.
An annual report issued by the fund today said 10% of assets were in emerging market equities as of March 31. A target allocation for emerging markets was not available, according to Ms. Lewis.
Overall, the fund had 44% in listed equities, 26% in bonds, 23% in alternative assets and 7% in cash. Of the alternatives portfolio, real estate accounted for 10 percentage points, with 8 percentage points in private equity, 3 percentage points in hedge funds and 2 percentage points in natural resources, according to the “Report on the Management of the Government’s Portfolio for the Year 2007/08.”
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