[email protected]_SG: WSJ: Singapore's GIC suffers $41.6 billion loss, 29 September 2009 Article. #sgelections”

Government of Singapore Investment Corp. suffered a loss around 59 billion Singapore dollars (US$41.6 billion) in the fiscal year ended March, making it one of the worst years for the sovereign wealth fund since it was established in 1981, a person familiar with the situation said Tuesday. "The equities investments suffered the most, followed by falls in property valuations. It was one of the worst years ever," the person told Dow Jones Newswires. The person said GIC's portfolio now stands around S$265 billion. GIC is the world's fourth largest sovereign fund in terms of money managed, according to Deutsche Bank, with high-profile investments in Western financial institutions like Citigroup Inc. and UBS. Earlier in the day, GIC said in its annual report that its portfolio lost more than 20% of its value in the last fiscal year. However, it said, the recent rebound in globa...

Full article: http://singaporeelection.blogspot.com/2011/04/wsj-singapo...

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