GIC still evaluating banks as investments
It also wants to make sure its current holdings can handle disruption, and in some cases, even benefit from it
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GIC's move to pare its stake in Swiss private bank UBS Group - resulting in an estimated loss of some 4 billion Swiss francs (S$5.73 billion) - comes as the sovereign wealth fund continues to evaluate investment opportunities in the banking sector based on valuations, growth prospects, and the credit-risk management of institutions.
"There are such banks," said GIC's group chief investment officer, Jeffrey Jaensubhakij, in pointing to the investment opportunities in the sector.
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