GIC Private Limited

GIC was incorporated in 1981 under the Singapore Companies Act and is wholly owned by the Government of Singapore to manage Singapore's reserves. Skiptomaincontent GICPrivateLimited FullMemberSingapore Incorporation GICwasincorporatedin1981undertheSingaporeCompaniesActandiswhollyownedbytheGovernmentofSingaporetomanageSingapore’sreserves.Thegovernmentistheownerofthesereserves. Sourceandpurposeoffunds ThesourcesoffundsincludeproceedsfromtheissuanceofSingaporeGovernmentSecuritiesandSpecialSingaporeGovernmentSecurities,GovernmentbudgetsurplusesandproceedsfromtheGovernment’slandsales.GIC’smissionistoachievegoodlongtermreturnstopreserveandenhancetheinternationalpurchasingpowerofthesereserves.UndertheConstitution,theGovernmentisallowedtospendupto50%ofthelong-termexpectedrealreturnonthenetassetsmanagedbyGICandthoseownedbytheMonetaryAuthorityofSingaporeandTemasekHoldingsinitsannualBudget.ThiscontributionhasallowedtheGovernmenttomakefurtherinvestmentsforthelongterm.TheseincludesupportingSingapore’stransformationintoavibrantandinnovativeeconomy,fosteringacaringandcohesivesociety,andensuringafiscallysustainableandsecurefuture. Governance TheGovernment,representedbytheMinistryofFinance(MOF),mandatesGICtomanageallassetsinasinglepool,onanunencumberedbasisandwithoutregardtotheirsource,withtheobjectiveofachievinggoodlong-termrealreturns.TheGovernmentgivesGICaninvestmentmandatethatstipulatesthetermsofappointment,investmentobjectives,investmenthorizon,riskparametersandinvestmentguidelinesformanagingthereserves.Inparticular,theoverallriskpreferenceofthefundsmanagedbyGICischaracterisedbytheReferencePortfolio. TheGovernment,representedbytheMinistryofFinance,holdstheGICBoardaccountablefortheoverallportfolioperformance.ItdoesnotdirectorinfluenceGIC’sdecisionsonindividualinvestments. GICisadditionallyaccountabletothePresidentofSingapore,whoiselecteddirectlybySingaporeansandactsinhisdiscretionandindependentlyoftheGovernmentofSingapore.ThePresidentisempoweredundertheConstitutionofSingaporetoprotectthepastreservesofthenation.AsaFifthSchedulecompany,GICisdirectlyaccountableinanumberofkeyareastotheSingaporePresident.NoonemaybeappointedtoorremovedfromtheGICBoardwithouthisconcurrence.Thisadditionallayerofcontrolensuresthatthecompanyappointsonlypeopleofintegritywhoarecompetentandcanbetrustedtosafeguardtheseassets. TheGICBoardisresponsiblefortheGIC’sPolicyPortfoliowhichdeterminesthelong-termassetallocationstrategyandaccountsforthebulkoftheriskandreturnpotentialoftheGICPortfolio.GIC’sassetallocationoperateswithintheriskconstraintsdeterminedbytheGovernmentinitsmandatetoGICandrepresentedbytheReferencePortfolio. GICmanagementformulatesandexecutesinvestmentstrategies.Oncethelong-termassetallocationstrategy(assetoutinitsPolicyPortfolio)isdecidedbytheGICBoard,themanagementseekstoaddvaluethroughanoverlayofactive,skill-basedstrategies(i.e.ActivePortfolio).Themanagementstructureisrelativelyflatandcomprisesfourcommitteeswithclearreportinglinesandaccountability. Reportingandaudit GICprovidesmonthlyandquarterlyreportstotheGovernmentthroughtheAccountant-GeneralofSingapore.Thesereportslistthefinancialtransactions,aswellastheholdingsandbankaccountbalances.Thereportsalsoprovidedetailedperformanceandriskanalytics,aswellasthedistributionoftheportfoliobyassetclass,countryandcurrency.Onceayear,theGICManagementformallymeetstheMinisterforFinanceandhisofficialstoreportontheriskandperformanceoftheportfoliointheprecedingfinancialyear. TheGovernmentportfolio,managedbyGIC,isauditedannuallybytheAuditor-GeneralofSingapore.TheAuditor-General,appointedbythePresidentofSingapore,submitsanannualreporttothePresidentandParliamentonhisauditoftheGovernmentandotherbodiesmanagingpublicfunds.Inaddition,GICisauditedbyGIC’sinternalaudit.Othercompaniesinthegroupandtheinvestmentholdingcompaniesareauditedbypublicaccountingfirms. Investmentandriskmanagement GICinvestsonlyforfinancialreturns.Ourstartingpointiswhenourclient,theSingaporeGovernment,setsitsrisktolerance.GICconstructstheportfoliotogenerategoodlong-termreturnswhileadheringtotherisktoleranceofourclient. OurcoreinvestmentgroupsunderpintheinvestmentorganizationatGIC:PublicEquity,FixedIncome,PrivateEquity&Infrastructure,andRealEstate.Inaddition,ourIntegratedStrategiesGroupevaluatesandinvestsincross-assetinvestmentopportunities.Weseparateactiveskill-based“alpha”strategiesfrombetaactivitiesatGICtoenablegreatereffectivenessandefficiency.Ourfocusforbetaactivitiesistoachievecostandoperationalefficiencies.Foralpha,ourfocusincludesenhancingcollaborationtotapGIC-wideexpertisetoaccessinvestmentopportunitiesandexecutemajorinvestmentswhicharenotstraightforwardintheirconstruction. WeareopentoinvestinginallcountriesoutsideofSingaporebutdonotinvestincountriesthataresubjecttoUnitedNationsSecurityCouncilsanctions.Weexerciseownershiprightsinourinvestmentstoprotectthefinancialinterestofourclient. IdentifyingandmanagingriskisacoreresponsibilityofallGICstaff.Eachemployeehasindividualaccountabilityandclearlydefinedresponsibilitieswithinariskmanagementframeworkwherechecksandbalancesareinplace.Thisensuresriskstakenareappropriateandin-linewiththerisktolerancesetbytheclient.Underpinningtheframeworkisarisk-consciousculturebuiltonanownershipmindsetanddisciplineinrisk-taking. GIC’sriskmanagementobjectivesaretoensure: Theinvestmentstrategiesareconsistentwiththerisktolerancesetbyourclient,theSingaporeGovernment; Policies,guidelinesandcontrolprocessesareinplacetoreducethelikelihoodofsignificantlosses; Anyreputationalimpactduetoouractionsiscarefullymanaged; Therisksassociatedwitheachinvestmentarewell-understoodandthatweareadequatelycompensatedfortakingthoserisks. DetailedinformationonGIC’sgovernanceframework,investmentprocesses,assetmix,andlong-termreturnsareavailableatwww.gic.com.sg. ContactDetails 168RobinsonRoad,#37-01CapitalTower Singapore068912 Singapore MemberWebsiteReadSelf-AssessmentReport BecomeaMember WewelcomeapplicationsformembershipfromSWFswillingtoendorsetheSantiagoPrinciplesonavoluntarybasis.Pleasecontactusat [email protected] formoredetailsand/orseepresentationbelow.   Download AboutUs Tweets RT@COFIDES:COFIDESreconocea@IFSWF@FMBBVA@SomosSacyry@ecoalfporsuapoyoalainversiónsostenibleylainternacionali…https://t.co/yycRvCBF8q 3days1hourago Watch@fgisgabon'sCEO@AkimMDaoudatellusabouthowthesovereignfund'smandatehaschangedovertime#gabon…https://t.co/9wquEVZ3pO 1week6daysago ToreceiveIFSWFDirect,ournewsletterfeaturingexclusivecontent,everymonthsignuphere:https://t.co/dRZAQfemCv 2weeks2daysago