Reuters, 26 Jul 2011SINGAPORE, July 26 (Reuters) - Singapore wealth fund GIC, one of the largest shareholders in UBS (UBSN.VX)(UBS.N) and Citigroup (C.N), plans to invest more money in emerging markets and less in developed markets due to the long-term challenges facing the United States and Europe.
Over the 12 months to end-March 2011, GIC increased its exposure to emerging market equities to 15 percent of its portfolio from 10 percent, GIC said in a statement.
The Singapore sovereign fund cut its exposure to developed market stocks to 34 percent from 41 percent previously during the same period. Full story
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