GIC boosts allocations to China and emerging markets

Meanwhile, the Singapore sovereign wealth fund pares exposure to Europe and the US, citing an uncertain long-term outlook.
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Ng Kok-Song: Emerging markets offer strong economic fundamentals
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<div style="text-align: left;"> Ng Kok-Song: Emerging markets offer strong economic fundamentals </div>

The Government of Singapore Investment Corporation GIC has raised its allocations to China and other emerging markets in a bid to boost returns, which amounted to 3.9% in the year to March 31, up slightly from 3.8% in 2010.

The figures, released yesterday in the sovereign wealth fund’s annual report, are based on a 20-year annualised real rate of return that takes global inflation into account. GIC achieved a nominal annualised rate of return of 6.3% in the five years to March 31 in US dollar terms and 7.4% over 10 years.

While GIC’s assets under management have never been disclosed by the government, the Sovereign...

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