One of the World’s Biggest Investors Warns of More Pain to Come
- Singapore’s GIC reported worst annualized return since 2009
- Says may be permanent damage to parts of commercial property
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One of the world’s largest sovereign wealth funds has warned that global markets are set to become even more volatile, adding to pressure on returns amid rising coronavirus infection rates and continued U.S.-China tensions.
GIC Pte executives listed a swathe of unpredictable factors looming large in the minds of investors, from the pandemic’s shutdown of shopping and hospitality venues to bubbly valuations fueled by debt being raised at historically low interest rates.