Central Banking

Singaporean wealth fund warns of protectionism

One of Singapore's state investment companies, Temasek Holdings, says it is concerned about the threat of protectionist backlash against sovereign wealth funds.

"The free flow of investment is important for economic growth," Ng Yat Chung, managing director of portfolio management at Temasek, told a briefing on 2 August as the company unveiled its annual financial review. Chung added that he "would be concerned" by any moves towards protectionism in the developed economies.

In recent months, s