Singapore fund chief upbeat on U.S. economy-WSJ

NEW YORK, March 6 Sun Mar 6, 2011 3:21pm EST

NEW YORK, March 6 (Reuters) - The head of Singapore's sovereign wealth fund, which has more than one-third of its holdings in the United States, says Americans are being too downbeat about the U.S. economy, according to an interview with the Wall Street Journal.

Tony Tan Keng Yam, executive director of the Government of Singapore Investment Corp, said, Americans "don't see the potential in their own economy, which is one of the most innovative, open economies in the world," according to the article.

Tan said he expected the U.S. economy would grow at a rate of between 4 percent and 4.5 percent. A Reuters poll of almost 70 economists released in February suggests U.S. gross domestic product will rise 3.2 percent on an annualized basis in 2011.

(Reporting by Lewis Krauskopf; Editing by Bernard Orr)

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