Reuters Blogs, 20 Aug 2009
Gary Smith, head of central banks, supranational institutions and sovereign wealth funds at BNP Paribas Investment Partners, says the pressure to open up has raised unseen consequences of having to face domestic pressures.
His recent trip to Singapore has confirmed this. A taxidriver complained to him about the poor performance of the country’s SWF, GIC.
“I’m quite sure it’s the first time in 29 years that taxi drivers in Singapore have been talking about the performance of the GIC,” he says.
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