As the world’s most acquisitive sovereign wealth fund turns 40, it’s never had so much money to manage — nor faced more challenges trying to manage it.
Two investment pillars that have helped fuel growth for Singapore’s GIC Pte. — China and bonds — are under siege from inflation, geopolitics and regulatory crackdowns. The national budget meanwhile requires ever more revenue, putting pressure on GIC to deliver robust returns, prompting one of the biggest asset pivots in its history.
Even by the secretive standards of sovereign wealth funds, GIC stands apart for its riches and discretion. It doesn’t release annual returns and won’t say how much it manages, though estimates from data providers put it as high as $744 billion. New rules passed in Parliament could raise that to almost $900 billion, making it the third-largest fund of its kind after Norway and China.
Read more: BNN Bloomberg
