Report on the Management of the GIC Portfolio for the Year 2016/2017

The report presents the performance of the GIC Portfolio. The Government’s mandate to GIC is to achieve good long-term returns above global inflation. The primary metric for evaluating GIC’s investment performance is the rolling 20-year real rate of return.

The report also outlines a few intermediate markers of GIC’s performance: nominal USD returns over 10 years and 5 years and the corresponding portfolio volatility. As a long-term investor, the 20-year period remains the time horizon upon which GIC’s performance is assessed.

The report also elaborates on GIC’s investment framework, governance and people.