28 Jul '16, 1am

MOTHERSHIP | Everything you need to know about GIC’s 2015/16 annual report in 90… https://t.co/LZipsFUXf1

MOTHERSHIP | Everything you need to know about GIC’s 2015/16 annual report in 90… https://t.co/LZipsFUXf1

GIC (which used to stand for Government of Singapore Investment Corporation up until 2013) has just released its 2015/2016 annual report on the management of the Government’s portfolio . Why should you care? In case you did not know, GIC is a fund manager, i.e. people, companies, institutions, countries utilise fund managers to grow their wealth through investments. GIC’s biggest client happens to be the Government of Singapore. GIC manages Singapore’s foreign reserves and the type of risks it takes is mandated by the Government. Its investment returns is then used by the Government to improve Singapore in various ways. The Pioneer Generation Package did not drop from the sky, ok? The Soverign Wealth Fund Institute estimates that GIC has US$344 billion (S$467 billion) of assets under management, making it the world’s eighth-biggest sovereign wealth fund. GIC’s annualised 2...

Full article: http://mothership.sg/2016/07/everything-you-need-to-know-...

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