GIC Has 4.1% Annualized Return, Warns of Lower Asset Gains
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GIC Pte, manager of more than $100 billion of Singapore’s reserves, posted an annualized return of 4.1 percent and warned that the current high prices in financial markets signal a challenging outlook.
GIC’s 20-year annualized real rate of return, or increases on top of global inflation it uses as its main metric, as of March 31 compared with 4 percent the previous year, the fund said in the annual report published today. The sovereign fund declined to elaborate on specific holdings.