WASHINGTON -(Dow Jones)- Sovereign wealth funds are unlikely to make any fresh investments in cash-strapped financial institutions until they see how government recapitalization plans work out, a senior Singapore government official said Sunday.
"The sensible thing is to do nothing until the state has made its investment...otherwise you don't have enough information," said Tony Tan, deputy governor of the Government of Singapore Investment Corp., or GIC, a sovereign wealth fund.
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