The Government of Singapore Investment Corporation (GIC) said that investment returns are likely to be low until the global economy returns to balanced and sustainable growth. Bernard Lee, CEO if HedgeSPA said: “It makes sense to be waiting for slightly better opportunity but at the same time, a sovereign wealth fund is not supposed to be keeping a lot of cash.” “If it’s keeping cash, what it should do is either equitise the cash or move the cash back to the main reserves to be managed.”

Channel NewsAsia – July 31, 2012