GIC eyes lagging Asean assets as supply chains shift

While global asset prices have rebounded strongly since the depths of the Covid-19 crisis in March, valuations in Southeast Asia have heavily lagged those elsewhere. The MSCI Asia ex-Japan index rose 8.36% in the year to October 31, while the MSCI Asean was down 21.98% over the same period. Jeffrey Jaensubhakij, group chief investment officer of Singapore sovereign wealth fund GIC, sees this as a clear long-term investment opportunity. But he also recognises the challenges that th…