The genesis of the GIC lies in the high national savings rate of the country, a feature since the 1970s. Strong economic growth, a young working population, prudent fiscal policies and individual thrift are factors for the high savings rates.
Singapore's reserves grew rapidly. In 1981, the Singapore government decided that the bulk of Singapore's reserves be invested in longer term and high-yielding assets. These assets would be managed by a new institution, the GIC.
The GIC was incorporated on 22 May 1981 as a private company. It is wholly owned by the Singapore government. This arrangement allows GIC to operate as a global fund manager, while allowing the government to have oversight over the management of the country's reserves.
Since inception, GIC has not only broadened its investment range to different asset classes, but has also deepened its expertise within each asset class. We now invest in more than 40 markets worldwide and in a variety of investments and securities.
Click here to find out more about GIC's story.
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