The Government of Singapore Investment Corporation (GIC) has partnered Australand Property Group to set up a logistics joint venture, and will invest in industrial assets. SMU visiting associate professor (practice) Bernard Lee said: "The Australian dollar has gone from the low of around sixty cents to a US dollar to about 1.07 (when it closed on Wednesday).That's a rise of a very impressive 80 per cent. So a lot of times when you invest in properties like that, it's very difficult to hedge your currency risk".
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