GIC, formerly known as the Government of Singapore Investment Corporation, is a sovereign wealth fund established in 1981 by the government of Singapore. GIC was created to manage Singapore's foreign reserves and ensure the long-term financial stability of the nation. The fund operates independently from the government, with a mandate to preserve and enhance the international purchasing power of Singapore's reserves.
GIC's investment strategy is highly diversified, with holdings across various asset classes, including equities, fixed income, real estate, private equity, and alternative investments such as hedge funds and infrastructure. The fund seeks to achieve long-term capital appreciation and stable returns while managing risks. GIC invests globally, focusing on both developed and emerging markets.
The exact size of GIC's assets under management is not publicly disclosed, but it is estimated to be between $400 billion and $500 billion, making it one of the largest sovereign wealth funds in the world. GIC has a reputation for being a sophisticated investor and has a track record of investing in major companies across different sectors, such as technology, finance, healthcare, and consumer goods.
GIC is governed by a board of directors, which includes members of Singapore's government, private sector, and academia. The fund is known for its professionalism, strong risk management practices, and long-term investment horizon. GIC's investment approach is characterized by a focus on value and a disciplined evaluation of investment opportunities, seeking to capitalize on market inefficiencies and capture long-term growth trends.
In summary, GIC is a major global investor with a diversified investment strategy and a strong focus on long-term value creation, risk management, and financial stability for Singapore.