(Bloomberg) Singapore sovereign wealth fund GIC Pte has scaled back a core quantitative unit set up in 2016 under former Goldman Sachs Group Inc. banker Percy Wong, following a “tough” internal rethink of its investment teams and strategies.Most Read from BloombergSubway Offers Free Sandwiches That Come With a Lifetime CommitmentLargest US Grid Declares Emergency Alert For July 27US 10-Year Yield Hits 4% as BOJ Worry Lifts Yen: Markets WrapFed Raises Interest Rates to 22-Year High, Leaves Doo
With the world's attention focused on the biggest US bank failure since 2008, central banks in the region rush to reassure investors that local banking systems remain resilient. Some asset owners like NPS acknowledge they have direct investments in Silicon Valley Bank.
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