Last month I covered Temasek, now it’s time to take a closer look at its larger sibling. Singapore’s sovereign wealth fund GIC released its annual report in July but, as ever, the figures are not complete, as some remain withheld.

Officially, GIC reports neither the total Assets Under Management nor the one-year return rates (what is understandable, of course, considering its long-term investment horizon). Nevertheless, independent analysts provide estimates of both performance and the value of its portfolio.

Global SWF calculated that GICs results have reached a record 37.5% over the past year ending March 31st, outcompeting even the typically more aggressive Temasek which returned 24.5% - reaching a historic high of US$744 billion in assets.

Click to continue to the article...