Government Fund Weekly Roundup: GIC Delves into Big Data as SWFs Continue to Grow

November 30, 2016 by Loch Adamson

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Michael Recce, GIC's New Chief Data Scientist Singaporean sovereign wealth fund GIC hires its first chief data scientist in an effort to boost its systematic trading capabilities; Saudi Arabia's Public Investment Fund grows by nearly $27 billion in assets; Alaska Permanent Fund Corp. posts strong returns amid political challenges in its own backyard. Singapore's GIC Gets to Grips with Big Data Singaporean sovereign wealth fund GIC is angling to develop its internal capacity to mine big data for telling details by recruiting senior talent – including an expert in artificial intelligence. Earlier this year, the fund quietly launched a new quantitative research-and-trading effort to bring together its in-house resources. Now, GIC has confirmed that it has hired Michael Recce, an expert in quantitative modeling and risk, as its first chief data scientist. Recce, an American academic with a Ph.D. in neuroscience from University College London, has an unusual…

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