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Boosting Liquidity, GIC Braces for More Volatility

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gic_wall_towerSingapore’s GIC Private Limited posted a drip in real returns as its 20-year annualized real rate of return fell to 4% from 4.9% from the previous period of fiscal year 2014-2015. GIC investment officials see modest growth prospects, more uncertainty and a higher degree of volatility in the macro economy and markets, according to their latest annual report. GIC believes the world is in a low-yield environment, thus management is running a more defensive portfolio. However, the GIC is still a major player when it comes to the world of private equity. According to data from SWFI’s Sovereign Wealth Fund Transaction Database, GIC has been in the top #10 ranking of direct wealth fund investors many years in a row. With a staff of more than 1,300 employees, the GIC remains opportunistic when it comes to making large-scale investments and co-investments.

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Rumors Swirl Around PIF Looking at Tesla Rivals

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Saudi Arabia’s Public Investment Fund (PIF) could be doubling down on electric automobile manufacturers. It was revealed that PIF has a sizeable stake in Tesla Inc. Elon Musk’s recent tweets have stirred up financial media and has even prompted an SEC probe.[ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]

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DLF-GIC to Kick in Rs 12.5 Billion for Midtown Project

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Indian real estate giant DLF, which has worked with Singapore’s GIC Private Limited in the past, is working on a new housing project in central Delhi dubbed Midtown. Large residential real estate projects in India’s capital are difficult to come by. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]

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QIA-Glencore Stake Valued at 7.4 Billion euros

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QHG Oil Ventures is selling a 14.2 % stake in Moscow-based Rosneft for €7.4 billion (US$ 8.4 billion) to the Qatar Investment Authority (QIA). This is according to a QHG financial statement. QHG Oil Ventures is a joint venture between the Qatar Investment Authority and Glencore, a Swiss-based, broad-spectrum mining and commodity company. QHG Oil Ventures was originally formed to invest in Rosneft. QHG purchased a 19.5 % stake in the company in 2016, in a deal that supplied Russia with needed funding at the time, and the estimated value of the investment has remained steady. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]

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