GIC seeking alpha in emerging Asia amid Covid gloom

Singapore’s GIC said it is seeking out “alpha opportunities” in Asia’s emerging markets, but the sovereign wealth fund expects low and volatile returns from bonds and equities to persist for a while. “The current environment features high asset valuations, a “lower-for-longer” path for future interest rates, subdued global growth, limited cyclical runway, elevated political and policy uncertainties, and underlying financial vulnerabilities, with risks tilted to the downside,” Prak…