On 1 April 2013,

GIC implemented a new investment framework that resulted from a review in 2012. There is now a Reference Portfolio comprising 65% global equities and 35% global bonds which reflects the amount of risk that the Government is prepared for GIC to take in its long-term investment strategies; a simplified Policy Portfolio with six core asset classes that will drive the GIC’s returns over the long term; and an Active Portfolio which comprises a collection of skill-based strategies that seeks to add value to the Policy Portfolio within risk limits defined by the GIC Board.