GIC expects returns to fall further, will raise alternatives exposure

Even the most sophisticated and respected institutional investors are struggling to hit performance targets in the current environment. Reporting a big drop in its average long-term return, Singaporean sovereign wealth fund GIC has outlined in its annual report why it believes global investors face much lower returns and plans to raise its allocation to alternative assets. Five-year annualised performance fell from 6.5% in March 2015 to 3.7% in the latest year, as of March 31, t…