In its first ever annual report, the The Government of Singapore Investment Corp. (GIC) said that it saw plenty of opportunities in America during this time of economic crisis. The GIC, which has around $300 billion in total assets, has agreed to adhere to a voluntary set of standards for sovereign funds, in the hopes that its impending actions would not be seen by Americans as being politically motivated. Said chief investment officer Ng Kok Song, “Problems in the U.S. would present very interesting opportunities in impaired assets.”
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