Singapore SWF plans to keep bank holdings for decades:

05/1/2008 | Financial Times (free content)

Lee Kuan Yew, chairman of the Government of Singapore Investment Corp., said the fund's investments in UBS and Citigroup are long-term and that the fund is seeking further opportunities in the Western banking sector. "We are buying into something that we intend to keep for the next two or three decades and grow with them," he said. The sovereign-wealth fund has invested $18 billion total in Citi and UBS since late 2007.

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