The US accounts for more than one-third of GIC’s global investment portfolio.
SINGAPORE – Singapore’s sovereign wealth fund GIC still believes in the long-term potential of the US economy and will continue to invest in it despite intensifying global tensions that make investment decisions more difficult, said Senior Minister Lee Hsien Loong.
Mr Lee told the GIC Insights 2024 event that he was confident that GIC will continue to be a patient investor in the US for a long time to come. He said GIC, established in 1981, is a long-term investor with a stated goal of delivering returns over and above inflation and financial volatility, a strategy that underpins its decision to remain invested in the US through thick and thin.
Mr Lee noted that GIC’s total portfolio has grown steadily and done well, achieving an average annual return of about 4 per cent over the past 20 years: “This is over and above the global inflation rate, because it is a real rate of return.”
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