The Singaporean sovereign wealth fund cautioned that return prospects will be “challenging” amid sticky inflation.
SINGAPORE: Singapore sovereign wealth fund GIC posted for the latest financial year its highest returns since 2015, but cautioned"challenging" prospects ahead amid sticky inflation and other economic headwinds.
The 20-year metric – a primary indicator of GIC’s investment performance – is a “rolling” return where years are dropped and added as the computation window moves. A diversified portfolio and cautious investment stance provided it with some cushion from the market correction, it said. Asked what that would mean for future returns, Mr Lim said: “We have been warning about lower returns over time.
This generally includes businesses that are regulated, have long-term offtake contracts or are in segments with high barriers to entry, he added. This ramp-up in infrastructure investments could be seen in the increased composition of real estate in GIC’s portfolio, which went up to 13 per cent from 10 per cent.
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