Singapore's sovereign wealth fund GIC reported stable returns for the year but warned of uncertainties amid inflation worries, pandemic risks and geopolitical challenges.
GIC, which is among the world's largest investors, painted a rather bleak picture of the global environment.
The fund's portfolio recorded an annualized dollar nominal rate of return of 7% over a 20-year period ending March 31, 2022,It also achieved an annualized rolling 20-year real rate of return of 4.2 % for the period ending March 31, after stripping away inflation. "At the same time, the clock for the climate crisis is ticking, pandemic risk lingers on, and geopolitical conflicts and domestic political schisms are growing. There are no easy choices for policymakers and business leaders, and in turn, for investors."GIC — a private firm wholly owned by Singapore's government — manages Singapore's reserves
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