atans1

GIC bitten once, still not shy?

In Banks, GIC on 05/06/2019 at 10:47 am

Taz GIC when it comes to buying Swiss Banks.

It bot a 3% stake in Swiss private bank Julius Baer, in what FT says @is in a vote of confidence for the bank after months of lacklustre performance”.

FT went on

GIC was previously a large shareholder in UBS. Having purchased hybrid debt instruments in the bank during the financial crisis, the fund became its largest shareholder after the holding converted to equity. The fund sold off the bulk of its stake two years ago, however, after the investment failed to perform.

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