The report presents the performance of the funds under GIC’s management. The 20-year annualised real rate of return is the key focus for GIC as it is our mission to preserve and enhance the international purchasing power of the reserves. Starting this year, GIC is also publishing the 5-year and 10-year nominal rates of return to provide a sense of the on-going medium-term investment performance, even while GIC maintains its sights on the long term.