Singapore GIC warns of tough investment outlook

SINGAPORE: Singapore sovereign wealth fund GIC, which manages more than $100 billion of the city-state’s foreign reserves, on Saturday warned of a tough investment outlook over the next decade as global central banks withdraw ultra-easy monetary policies.GIC said the prices of all major asset classes have been inflated by the massive stimulus measures, and now face weak future returns.

“Global financial markets have been recovering strongly from the 2008/09 global financial crisis, supported by low interest rates and unconventional monetary policies,” GIC said in its annual report.