Government of Singapore Investment Corp., managing more than $100 billion, said it almost quadrupled its cash allocation, pared bonds and stocks and reduced its holdings in Europe amid the region’s debt crisis.
Cash made up 11 percent of its portfolio in the year ended March from 3 percent a year earlier, GIC, as the sovereign wealth fund is known, said in its annual report. Stocks fell to 45 percent from 49 percent as it pared equities in developed markets, while bonds dropped to 17 percent from 22 percent. Full story
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Singapore GIC Cuts Bond Holdings, Ups Cash - CNBC.com
