Singapore's GIC to invest $30b more in hedge funds

SINGAPORE, July 26 (Reuters): Singapore sovereign wealth fund GIC plans to deploy an additional $30 billion into hedge funds and is spreading its bets across artificial intelligence, top executives said, while reporting its weakest long-run returns since 2020.
Group Chief Investment Officer Bryan Yeo said the money would be allocated over three years and that the fund's top executives see opportunities in global macro, quantitative and multi-strategy funds, which span multiple assets and can adjust quickly when conditions change.
"These are three that we believe the go-forward environment is highly conducive on, and these are also the three types of managers that can actively and dynamically manage their risk and pivot ... as the investment landscape continues to evolve with all the uncertainties," Yeo said, adding that GIC had tripled its hedge fund investments globally over the past decade.