According to GIC, this rolling 20-year real rate of return should be the “primary metric” for evaluating its investment performance, as it is in line with GIC’s mandate to “preserve and enhance” the international purchasing power of Singapore’s reserves under its management over the long term.
Over the 20-year period ended March 31, GIC’s portfolio achieved an annualised US dollar (USD) nominal rate of return of 6.9%. After accounting for global inflation, GIC’s annualised real rate of return stood at 4.6% over the same period.
In a media statement on July 26 following the release of its annual results, GIC emphasises that this average annual rate of return, achieved from between April 2003 and March 2023, is “over and above” the rate of global inflation.
