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GIC and Temasek face a tougher investing climate. What are they doing about it?

There are many challenges, but stakeholders should rest assured that these are being addressed

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Lee Su Shyan

Lee Su Shyan

Published Wed, Jul 24, 2024 · 05:00 AM
    • GIC set up its first global office in New York 40 years ago. It is now in nine other cities including Tokyo, London, Mumbai and Sao Paulo.
    • GIC set up its first global office in New York 40 years ago. It is now in nine other cities including Tokyo, London, Mumbai and Sao Paulo. PHOTO: CMG

    DeeperDive is a beta AI feature. Refer to full articles for the facts.

    BOTH sovereign wealth fund GIC and state investor Temasek Holdings are key contributors to Singapore’s net investment returns, which is why their results are so closely scrutinised every year.

    GIC’s numbers, which were released on Wednesday (Jul 24), show that its annualised real rate of return for the 20 years ended Mar 31, 2024, came in at 3.9 per cent. As it takes a long-term view of the reserves and needs to account for the effects of inflation, this 20-year real rate of return is the main performance metric.

    Temasek’s numbers were announced earlier in July. Its portfolio delivered a total shareholder return of 7 per cent for the same 20-year period while Singapore’s core inflation was 1.9 per cent. 

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