Singapore’s sovereign wealth fund posted its highest rate of return in six years and expressed caution over rising inflation and a potential deterioration in the coronavirus pandemic.

GIC reported an annualised 20-year real rate of return, its main performance metric, of 4.3 per cent for the year until the end of March, the highest since 2015, when it posted returns of 4.9 per cent.

Some assets’ strong performance during the pandemic and exits through initial public offerings by portfolio companies such as US food delivery app DoorDash contributed to the jump, said Lim Chow Kiat, GIC chief executive.

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Source: Financial Times

By Stefania Palma