Empowered and accountable

The government holds the GIC board accountable for portfolio performance, but does not interfere in the company’s investment decisions. The board in turn, while taking overall responsibility for performance, leaves specific investment decisions to GIC management.

Our client, the Singapore government, gives GIC an investment mandate that stipulates the terms of appointment, investment objectives, risk parameters, investment horizon and guidelines for managing the Portfolio. The Auditor-General, who is appointed by the President of Singapore, submits an annual report to the President and Parliament on his audit of the government and other bodies managing public funds. The management also reports to the Ministry of Finance on the risk and performance of the portfolio.

For more information on corporate governance, please see the ‘Report on the Management of the Government Portfolio'.

Board Of Directors

The GIC board assumes ultimate responsibility for asset allocation and performance for the total portfolio. Management executes investment strategies and regularly discusses overall portfolio performance with the GIC board.

INTERNATIONAL ADVISORY BOARD

The International Advisory Board provides the GIC Board, board committees and management with global and regional perspectives on geopolitical, economic and market developments. It offers advice on a range of investment-related matters, in particular, global investment trends, emerging asset classes and new growth opportunities.

Board Committees

The GIC board is supported by board committees to oversee critical areas including strategic asset allocation, investment process, risk, audit, and human resource and organizational development. We also bring in external advisors to serve on board committees, to benefit from their perspectives and ideas. These advisors, together with others, form the International Advisory Board which provides the GIC board, board committees and management with global and regional perspectives on geopolitical, economic and market developments.

ADVISOR EMERITUS

These esteemed experts and industry practitioners have contributed significantly to GIC through their past appointments on our various board committees.