“It's not in the interests of Singapore to be ostentatious, nor to manage our economy [in such a way that we] put ourselves in a vulnerable position,” he adds.
GIC publishes information such as asset class allocation and geographical distribution of assets, but not individual company holdings.
“We constantly ask ourselves what we can share with people so that they have trust and confidence in how we manage the reserves,” says Ng. “But also ask what we should not share because it will handicap us, put us at a disadvantage.
“So we have to make a distinction between transparency and accountability,” notes Ng. “We have to be accountable to the government and to the people. And as far as that accountability is concerned, we have to have broad agreement on what the metric of measurement should be.” Full story
Related:
GIC's long-term real rate of return reflects mandate - Investments & Pension Asia
