GIC to bolster focus on Asia's emerging markets

According to GIC's Deputy Chairman and Executive Director, Tony Tan, the SWF will specifically look at markets such as China, India and Vietnam. GIC's move comes as it announced that it had largely recovered its fiscal losses since the onset of the GFC in 2008, revealing that the average rate of its annual returns over the past 20 years increased to 7.1% for the year ending March, up from 5.7% the previous year. That figure was 7.8% in the fiscal year ending March 2008.

"GIC started to selectively take on more risk from the second quarter of 2009, amid growing confidence in the economic recovery," Tan told media.

The fund further announced changes that would allow it to more aptly adapt its investment focus to reflect market opportunities. The fund is said to manage more than $200 billion in assets and is the world's sixth-largest SWF. The news comes as GIC looks to launch an IPO for its Global Logistic Properties unit, said to be worth as much as $3 billion.

 

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• Topics
• Investments
• Southeast Asia
• GIC Private