Singapore’s GIC braces itself for inflation and warns of hard year ahead

Singapore state fund GIC is directing money towards real estate and other inflation-protecting assets as it prepares for several years of disruption from rising prices.

GIC’s management said in an interview with the Financial Times that soaring inflation could reverse gains it had made in recent years and warned that the world could face an extended period of stagflation if policymakers did not take appropriate action.

The warning from…