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    GIC is world's third most influential and powerful asset owner

    Singapore sovereign wealth fund GIC has made a dramatic ascent to became the world's third most influential and powerful asset owner after two large US pension funds.

    Led by chief executive officer Lim Chow Kiat, GIC is now third in the Chief Investment Officer (CIO) Power 100 2018, compared to 10th in 2017 and 11th in 2016.

    GIC, the world's eighth biggest sovereign wealth fund with US$390 billion of assets under management, bumped out Eloy Lindeijer, CIO of PGGM Zeist in Netherlands, which is now ranked 13th.

    PGGM has 205.8 billion euros (S$323 billion) in assets under management.

    "This award is a recognition of the work of all at GIC," Mr Lim told The Business Times on Thursday. "To protect and enhance our reserves in this highly uncertain environment, we will continue to be disciplined through short-term volatility, take appropriate risks, innovate new ways of investing, and strengthe