Government of Singapore Investment Corporation

Republic of Singapore US$ 320 Billion
Established: 1981
Transparency Rating: 6
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Origin: Non-Commodity
Firm Investment Style: Mixed
Entity Structure: Corporate
Population Est.: 5.3 million – 2012
Wealth Per Capita Est.: $60,377
Singapore GIC Private Limited

Government of Singapore Investment Corporation

Summary
In 2013, the Government of Singapore Investment Corporation (GIC) changed their name to GIC Private Limited.

The Government of Singapore Investment Corporation (GIC) does not own the funds it manages but manages them on behalf of their clients: the government of Singapore and the Monetary Authority of Singapore.

GIC Private Limited is wholly owned by the government of Singapore and has three major sovereign wealth enterprises (SWE): GIC Asset Management Pte Ltd, GIC Real Estate Pte Ltd, and GIC Special Investments Pte Ltd.

Background
In the 1970s, Singapore had a high national savings rate, thus reserves grew rapidly. The government of Singapore decided that its reserves would be better invested in longer term and high-yielding assets. These assets would be managed by a new institution, the Government of Singapore Investment Corporation. The sovereign wealth fund was established in May 22, 1981 as a private company.

Singapore’s GIC receives an annual government contribution. The contribution is not fixed and is subject to the government of Singapore.

Strategy & Objectives

SWF Asset Allocation

Direct Investments

Alternative Managers

Key Executives and People


Main Offices
GIC Private Limited
Singapore Office
168 Robinson Road
#37-01 Capital Tower
Singapore 068912
Tel: (65) 6889 8888
Fax: (65) 6889 8722

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Governance
The Ministry of Finance of Singapore represents the dominant authority of the GIC. The government of Singapore and Monetary Authority of Singapore set the risk tolerance parameters and expected returns for the long term of the GIC. Three board committees are responsible for ensuring that the GIC operates in an ethically and fiscally positive manner. These committees include: Investment Committee, Risk Committee, and Remuneration Committee.

Sovereign Wealth Enterprises

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