Forbes.com, 23 Sep 2008, Vivian Wai-yin Kwok
HONG KONG - The Government of Singapore Investment Corp. on Tuesday predicted that the global financial crisis has not yet ended, but the Singaporean sovereign wealth fund believes that the present turmoil should provide "very interesting opportunities" to acquire impaired assets.
In its first-ever annual report, released Tuesday, GIC, as the sovereign fund is known for short, said it had achieved an average annual nominal return of 7.8% in U.S. dollar terms over the past 20 financial years through March 2008. The real annual return during that same period was 4.5%.
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