SINGAPORE - Government of Singapore Investment Corp (GIC), manager of more than $100 billion of reserves, said real estate and private equity in emerging economies will present more rewarding opportunities than equity markets.

"While publicly listed equities is likely to remain GIC's main implementation vehicle for our emerging market strategy, our view is that the private markets such as real estate and private equities will present even more rewarding opportunities," GIC's Chief Investment Officer Ng Kok Song said at a private wealth management conference in Singapore on Wednesday.

GIC said in its annual report on Monday that it will continue to boost investments in higher-growth emerging economies, especially in Asia, as expansion in developed nations slows. The fund aims to increase the proportion of investments in public equities and private assets in emerging markets to the "high teens" over time from 12 percent to 13 percent at the end of March, Ng said after the event.