GIC may strike the Asian IPO market while it’s hot
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According to the report, “In recent years, GIC had sought to construct a diversified multi-asset class portfolio by increasing alternative investments such as private equity and real estate. However, this diversification was ineffective in the financial earthquake that occurred last year. The portfolio suffered a loss of more than 20% in Singapore dollar terms in the financial year to 31 March 2009. This loss pulled down the 20-year nominal annual rate of return in Singapore dollar terms from 5.8% to 4.4%. The real rate of return, in excess of global inflation, fell from 4.5% to 2.6%. In US dollar terms, the 20-year nominal annual rate of return was 5.7% as at 31 March 2009.”
read more: GIC Report