Singapore's GIC cuts stake in commodities trader Bunge to 1.73%

SINGAPORE (Reuters) - Singapore sovereign wealth fund GIC has cut its stake in commodities trader Bunge to 1.73 per cent from 4.99 per cent a year earlier, according to a United States regulatory filing.

GIC, which had built up its stake in Bunge close to 5 per cent in 2012, cut its holding after Bunge's share price jumped about 13 per cent in 2013.

GIC said in a filing on Thursday it owned 1.73 per cent of Bunge shares, versus 4.99 per cent as of Feb 6 last year, according to a Securities and Exchange Commission filing seen by Reuters.

GIC was not immediately available to comment about why it cut the stake.

Sovereign wealth funds like GIC, hurt by investments in Western banks during the 2008 financial crisis, had built up stakes in new sectors such as commodities and infrastructure after the financial crisis.