Singapore GIC shunning developed countries for emerging markets: Reuters

After India, now China.

Singapore sovereign wealth fund GIC is now looking at investing in emerging markets, set on the belief that they offer better value than developed ones. The fund is particularly interested in exploring increasing investments in technology.

According to Reuters, GIC has taken a series of stakes in information technology companies in markets like China and India in recent months.

Reuters adds that the fund is increasingly going directly to companies into which it wants to make a private equity investment, rather than relying on pitches from bankers or the companies themselves.

In an interview with Reuters, chief investment officer Lim Chow Kiat says that the prices in developed markets have gone up relative to the fundamentals, whereas emerging market asset prices have lagged substantially.

View the full article here.

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