Reuters, 4 Mar 2009, Kevin Lim and Neil Chatterjee
SINGAPORE, March 4 (Reuters) - Singapore's top wealth fund GIC is looking at investing in property and private equity, after rushing into global banks "too early" and seeing its multi-billion dollar portfolio slide 25 percent from its peak.
Lee Kuan Yew, chairman of GIC, one of the world's top wealth funds, told Reuters on Wednesday he saw the healthcare sector as being resilient to the downturn, but he said the financial sector would recover.
"We'll most probably stay with the financials," Lee said in an interview. "Eventually, it must recover. It is the circulation system of the world."
Read More
Related News:
Singapore Lee Kuan Yew:GIC Portfolio Dn 25% From Peak-Reuters - Fxstreet.com, 4 Mar 09
Singapore GDP Could Drop 8%: Former PM - Jakarta Globe, 5 Mar 09
Lee Kuan Yew says Singapore economy may shrink 8 pct - Forexpros.com, 4 Mar 09
Singapore GIC's assets down 25 pct from peak - Reuters UK, 4 Mar 09
Singapore’s GIC’s Assets Drop 25% From Peak, Straits Times Says - Bloomberg, 5 Mar 09
