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GIC had bought 'too early' into global banks such as Citigroup and UBS , which were both hammered by toxic assets.

GIC had bought ‘too early’

THE portfolio of Singapore's sovereign wealth fund GIC has fallen about 25 per cent from its peak due to the financial crisis, but it can weather the storm for 10 years if necessary, said Minister Mentor Lee Kuan Yew.

Straits Times