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Government of Singapore Investment Corporation (GIC)

Established in 1981 to manage Singapore’s foreign reserves, the Government of Singapore Investment Corporation (GIC) is a global long-term investor. GIC work to secure Singapore’s financial future by investing across a range of asset classes in the public and private markets.

Country

Singapore

AUM

$936

Performance (%, 1YR)

3.80

Chief Executive

Chow Kiat Lim

Chief Investment Officer

Bryan Yeo

Performance Notes

Based on Annualised Rolling 20-year Real Rate of Return after inflation

Chair

Hsien Loong Lee

Asset allocation

51% Equities

26% Fixed Income

23% Real Assets

Website
View the annual report

Asset allocation as of March 31, 2025. All information is as per the most recent annual report or other publicly available data via the fund's website

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GIC: Geopolitical risks rewire asset allocation ‘operating system’

Some investors are “missing the point” of geopolitical risks by equating them to the disruptions from conflicts and wars, according to GIC chief economist Prakash Kannan, but in reality, geopolitical risk is no longer episodic or peripheral. This means investors need to think harder about inflation and country composition in their portfolio.

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GIC, OPTrust on how TPA reshapes allocation process, accountability

Long-time practitioners of the total portfolio approach said one of its greatest advantages is that the investment team can make significant asset allocation at its discretion, as interest towards adopting the framework picks up among asset owners to handle more complex decision-making. At FIS Singapore, GIC and OPTrust unpack the governance and risk culture to enable it.

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Limited alternatives keep global capital anchored to the US

Singapore’s Temasek said while US exceptionalism may be “fraying”, there aren’t many alternative markets that can handle the same volume of global capital. Meanwhile, fellow sovereign fund GIC believes the greenback’s reserve currency status remains solid even though currency swings could spell trouble for foreign investors.

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How leading asset owners maintain TPA discipline

Rolling out a total portfolio approach is rarely a linear process, as even its most experienced practitioners warned that without careful resistance to old language, culture and structure, asset owners can easily slide back into the “comfort” of strategic asset allocation. A new report unpacks how leading funds stay disciplined.

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GIC ups US equities allocation despite valuation worries

Singapore's GIC boosted its US equities allocation in the year to March 2025 despite the expectation that high valuations could "provide a challenging backdrop for forward returns”, according to the fund's latest annual report released on Friday. 

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GIC, Temasek eye trillions of growth in climate adaptation market

Singapore’s two largest asset owners, GIC and Temasek, see attractive opportunities in climate adaptation solutions – a relatively underfunded area compared to decarbonisation. The former has already made selective adaptation investments and said the opportunity set across public and private debt and equity could increase to $9 trillion by 2050.

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