Littlespeck.com, 24 Sep 2008
In its first such report, The Government Investment Corporation (GIC) has thrown more light on its investments, but not the exact size of portfolio or how its investments fared during the past year of market turmoil.
On asset under its management, the report merely said that the Corporation manages well over $100b (all figures in US DOLLAR), a figure that analysts note it had been saying since the year 2000.
This is a surprise since (as TODAY newspaper pointed out) Morgan Stanley had estimated it to be closer to US$300b before the recent global markets meltdown.
Between this and the current report of more thasn $100b is a vast difference. There may be an explanation for it. GIC regularly moves funds in and out that changes its asset.
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