De-risking measures limit COVID-19 damage to GIC portfolio
Singapore’s GIC Private said that steps taken last year to de-risk its portfolio – reducing its allocation to equities in favor of cash and evaluating deals with more caution – have limited the negative impact of COVID-19.
Further, the sovereign wealth fund, which claims to have invested well over $100 billion while independent assessments put its wealth at more than $300 billion, expects its long-term outlook to pay off...
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