Report on the Management of the GIC Portfolio for the Year 2012/2013

2012/2013

The report presents the performance of the GIC Portfolio. The Government’s mandate to GIC is to achieve a good, sustainable real rate of return over a 20-year time horizon. The report also gives GIC’s 5- and 10-year annualised nominal rates of return to give a sense of GIC’s medium-term investment performance, while underlining that it is the long-term performance which defines GIC uniquely in its role as the investment manager for Singapore’s foreign reserves.

This year’s report also elaborates on GIC’s new investment framework. On 1 April 2013, GIC implemented a new framework to manage its portfolio in the changing environment post the global financial crisis. The new framework capitalises on GIC’s core strengths: a long-term perspective, a global presence, a skilled and experienced team, and the ability to invest in cross-asset opportunities.