SINGAPORE -- While the global economy is expected to rebound from the COVID-19 pandemic in 2021 and stock markets are already heating up, Singapore state fund GIC -- one of the world's biggest institutional investors -- is keeping to a watchful stance on the market outlook.
"It's very hard for us to forecast market fluctuations, but we do have a somewhat conservative or defensive view," Jeffrey Jaensubhakij, GIC's group chief investment officer, told Nikkei Asia in an interview.
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