Our Portfolio

A diversified, resilient portfolio to secure Singapore's financial future

GIC Report 2025/26

GIC publishes an annual report on the management of the government’s portfolio and information on our policies and people.

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Past GIC Reports

GIC Report 2024/25

GIC Report 2023/24

GIC Report 2022/23

GIC Report 2021/22

GIC Report 2020/21

GIC Report 2019/20

GIC Report 2018/19

GIC Report 2017/18

GIC Report 2016/17

Our Performance

For the 20-year period from 1 April 2006 to 31 March 2026, the annualised US$ nominal return of the GIC Portfolio was 5.6%. After adjusting for global inflation, the annualised 20-year real rate of return was 3.4%. This means we have grown Singapore’s international purchasing power by 3.4% per year over the last two decades, in line with our mandate to preserve and enhance the international purchasing power of the reserves placed under our management.

Our Rolling 20-Year Real Rate of Return

At GIC, we aim to achieve positive real returns over a 20-year horizon so as to preserve and enhance the international purchasing power of the reserves we manage. Our goal is expressed in real terms because we must, at the minimum, generate a return above global inflation.

Our Client’s assessment of our performance is based on both our rolling 20-year real return and the risk taken to achieve these returns.

A Diversified, Resilient Portfolio

We maintain a diversified portfolio made up of three broad asset groups: Equities, Fixed Income, and Real Assets. This grouping covers our holdings across both public and private markets and captures our exposure to the key factors of growth, income, and inflation respectively. Our Portfolio is constructed to be resilient across a range of plausible market economic conditions, while generating positive long-term returns.

Investing Globally

The geographical distribution of the GIC Portfolio reflects the results of our asset allocation strategy and bottom-up opportunities sourced by our investment teams worldwide. While we do not allocate our assets by geography, we monitor our exposures across regions.

Investment Outlook

The global investment landscape is being reshaped by foundational shifts driven by three major forces: a changing world order, rising fiscal risks, and advances in artificial intelligence. Our response is to prepare, not predict, guided by the principles of diversification, granularity, and agility. Through it all, our purpose endures: to preserve and enhance Singapore’s reserves over the long term.