About 25 pct of GIC investments in Europe

Kevin Lim

Government of Singapore Investment Corp (GIC), the world’s fourth largest sovereign wealth fund, on Monday indicated it had further reduced its exposure to Europe to about a quarter of its portfolio.

‘GIC has roughly a quarter of its investments in Europe, and a significant share of that is in UK-based entities,’ GIC executive director Tony Tan said at a conference in London.

The Singapore fund, which is believed to have more than $200 billion in assets, held 29 percent of its portfolio in Europe as at end-March 2009, down from 35 percent a year earlier.