Government of Singapore Investment Corporation

Type	Sovereign wealth fund
Founded	22 May 1981
Headquarters	Singapore
Key people	Lee Kuan Yew, Chairman Lee Hsien Loong, Vice-Chairman Tony Tan Keng Yam, Executive Director Lim Siong Guan, Group Managing Director
Industry	Investment services
Products	N/A
Revenue	N/A
Website	www.gic.com.sg

The Government of Singapore Investment Corporation Private Limited (GIC) is a sovereign wealth fund established by the Government of Singapore in 1981 to manage Singapore's foreign reserves. With a network of eight offices in key financial capitals around the world, GIC invests internationally in equities, fixed income, money-market instruments, real estate and special investments.

GIC's investment portfolio is managed by its three subsidiaries: GIC Asset Management Pte Ltd (public markets), GIC Real Estate Pte Ltd and GIC Special Investments Pte Ltd (private-equity investments). In 2008, The Economist reported that Morgan Stanley had estimated the fund's assets at US$330 billion^[1], making it the world's third largest sovereign wealth fund.^[2]

Wall Street Journal reported that GIC suffered a loss of around 59 billion Singapore dollars in the fiscal year ended March 31, 2009, and its portfolio currently stands at around S$265 billion after drops in equity investments and property valuations.^[3]

[edit] References

1. ^ "Asset-backed insecurity". The Economist. 2008-01-17. http://www.economist.com/finance/displaystory.cfm?story_id=10533428. 
2. ^ "Sovereign Wealth Funds: Shrek or White Knight?". The Economic Observer. 2008-02-27. http://www.eeo.com.cn/ens/feature/2008/02/27/92907.html.. 
3. ^ "Singapore's GIC Suffers $41.6 Billion Loss". Wall Street Journal. 2009-09-30. http://online.wsj.com/article/SB125418236117447877.html. 

[edit] External links

• Government of Singapore Investment Corporation
• Addsense Singapore Company Encyclopedia - GIC A detailed summary of assets acquired by GIC from 2000-2008
• GLCWatch Website providing information on Government Linked Companies
• Financial Times interview with Tony Tan, GIC deputy chairman and executive director