Log in
E-mail
Password
Remember
Forgot password ?
Become a member for free
Sign up
Sign up
Settings
Settings
Dynamic quotes 
OFFON

4-Traders Homepage  >  Equities  >  Nyse  >  Citigroup    C

CITIGROUP (C)
Mes dernières consult.
Most popular
  Report  
SummaryQuotesChartsNewsAnalysisCalendarCompanyFinancialsConsensusRevisions 
News SummaryMost relevantAll newsofficial PublicationsSector newsTweets

Singapore's GIC Cautious Due to Global Economic Uncertainty

share with twitter share with LinkedIn share with facebook
share via e-mail
0
07/12/2018 | 11:15pm CEST

By P.R. Venkat

SINGAPORE--Singapore's sovereign-wealth fund will maintain a cautious investment strategy due to greater global economic uncertainties and has cut its exposure to developed-world equities, an indication of its defensive stance to riskier assets.

GIC Pte. Ltd., which is estimated to oversee more than $390 billion in assets and is the world's eighth-largest sovereign-wealth fund, said it is concerned about escalating global trade friction and investment arrangements. It also said market uncertainty remains elevated.

Global markets have been volatile in recent weeks due to trade tensions between the U.S. and China. Earlier this week, President Donald Trump's administration said it would assess 10% tariffs on a further $200 billion in Chinese goods. China said this wasn't acceptable and promised to retaliate.

"The tight integration of global supply chains will see tariffs or restrictions having a broader effect across markets than for just the countries directly affected," GIC CEO Lim Chow Kiat told The Wall Street Journal on Thursday.

GIC, which manages Singapore's forex reserves and owns stakes in Citigroup Inc. and UBS Group AG, says it takes a long-term investment view. GIC has been active in the technology space since this year. In January, it was part of a consortium led by Blackstone Group LP that acquired a majority stake in financial-information company Thomson Reuters Corp. for $17 billion. It also participated in the $14 billion fundraising by Ant Financial, the Chinese fintech firm that operates the Alipay payment platform.

GIC also sees investment opportunities in real estate and emerging markets, Mr. Lim said. In April, GIC invested $1.3 billion in Vietnam's largest property company and picked up shares in the country's private bank Techcombank.

He said other risks to the global economic environment include moves to tighten monetary policy-especially by the Federal Reserve-and high asset valuations which have made the fund take a cautious stance.

GIC doesn't disclose its assets under management,. but the Sovereign Wealth Center estimates it oversees $390 billion.

The annual report for the fiscal year that ended March 31 showed that GIC's asset mix saw allocation for the developed-equities market fall to 23% from 27% while it had increased its holdings of cash and nominal bonds to 37% from 35%.

The U.S. remains GIC's largest investment destination, accounting for 32% of its global allocation, while Japan and the eurozone each account for 13%. The fund's annualized nominal rate of return from its investments for the 20 years through March was 5.9%, while for the five-year period it was 6.6%.

Write to P.R. Venkat at [email protected]

-0-

(MORE TO FOLLOW) Dow Jones Newswires

07-12-18 1714ET

Stocks mentioned in the article
ChangeLast1st jan.
BLACKSTONE GROUP LP 0.43% 35.21 Delayed Quote.9.96%
UBS GROUP 0.43% 15.065 Delayed Quote.-16.03%
UBS GROUP 0.78% 12.91 Delayed Quote.-15.83%
share with twitter share with LinkedIn share with facebook
share via e-mail
0
Latest news on CITIGROUP
07/14CITIGROUP : Second Quarter 2018 Results, Key Metrics
AQ
07/14Economy Heats Up Profits at Big Banks -- WSJ
DJ
07/13Profit Gains at JPMorgan, Citigroup Reflect a World in Growth Mode -- 2nd Upd..
DJ
07/13Citigroup executives see better growth ahead, but not yet
RE
07/13Citigroup executives see better growth ahead, but not yet
RE
07/13Profit Gains at JPMorgan, Citigroup Reflect a World in Growth Mode -- Update
DJ
07/13Profit Gains at JPMorgan, Citigroup Reflect a World in Growth Mode
DJ
07/13U.S. banks gain from Washington policy changes but trade worries loom
RE
07/13CITIGROUP : Earnings Lifted by Growing Loans -- 4th Update
DJ
07/13CITIGROUP : Rules Designed to Catch Terrorists Cost This Unsuspecting Customer H..
DJ
More news
News from SeekingAlpha
07/14STOCKS TO WATCH : Prime Time In Retail 
07/13Citigroup's (C) CEO Mike Corbat on Q2 2018 Results - Earnings Call Transcript 
07/13CITIGROUP EARNINGS : Not That Much To Celebrate 
07/13BY THE NUMBERS : High-Conviction Buybacks In The Financial Sector 
07/13Banks lead group of expected dividend hikers next week 
Financials ($)
Sales 2018 74 213 M
EBIT 2018 30 884 M
Net income 2018 16 426 M
Debt 2018 -
Yield 2018 2,23%
P/E ratio 2018 10,35
P/E ratio 2019 9,02
Capi. / Sales 2018 2,30x
Capi. / Sales 2019 2,22x
Capitalization 171 B
Chart CITIGROUP
Duration : Period :
Citigroup Technical Analysis Chart | C | US1729674242 | 4-Traders
Technical analysis trends CITIGROUP
Short TermMid-TermLong Term
TrendsNeutralBearishNeutral
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus OUTPERFORM
Number of Analysts 29
Average target price 82,6 $
Spread / Average Target 23%
EPS Revisions
Managers
NameTitle
Michael Louis Corbat Chief Executive Officer & Director
James Anthony Forese President & CEO-Institutional Clients Group
Michael E. O'Neill Chairman
Don Callahan Head-Operations & Technology
John C. Gerspach Chief Financial Officer
Sector and Competitors
1st jan.Capitalization (M$)
CITIGROUP-9.96%170 846
JP MORGAN CHASE & COMPANY-0.54%362 132
BANK OF AMERICA-3.29%289 479
INDUSTRIAL AND COMMERCIAL BANK OF CHINA-13.55%277 806
WELLS FARGO-8.75%269 762
CHINA CONSTRUCTION BANK CORPORATION-9.11%237 140