GIC official frets over US credit risk

At a conference for Asian government pension funds held in Tokyo this week, a senior government official from Singapore's $100 billion-plus Government Investment Corporation (GIC) expressed his concern about the sustainability of the United States' macroeconomic policy, outlining how this posed a major risk for Asian investors. Teh Kok-Peng, president of GIC Special Investments, says the need for diversification and superior investment returns has driven Asian institutions to inves…