Singapore sovereign fund promises greater disclosure

Updated Tuesday, January 29, 2008 0:00 am TWN, AP

Singapore sovereign fund promises greater disclosure

SINGAPORE -- A Singapore sovereign wealth fund said it plans to become more transparent amid concerns over its increasing influence following large investments in troubled financial institutions such as UBS and Citigroup, newspapers reported Monday. The Government of Singapore Investment Corporation, or GIC, is working with the city-state’s Finance Ministry on a document that would provide more information on the fund’s processes and governance and the purposes of its investments.

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