The US tech sector took a hit in 2022 with shares in tech companies falling by more than 30%, outpacing the overall market’s average of a 20% decline. The tech-focused NASDAQ was down by over 33% during the year.
GIC is seeking to increase its exposure to US-focused funds, says the Financial Times.
In a June 21 article, the daily broadsheet says that GIC, whose assets have been estimated to cross US$700 billion ($940.96 billion), has put more money into the US via venture capital funds and technology companies.
