SINGAPORE--The Government of Singapore Investment Corp. said Tuesday its average rate of return for the fiscal year ended in March was unchanged from the previous year, but warned investment returns are likely to remain low given uncertainty surrounding the global economy.
In a statement, GIC, which manages Singapore's foreign-exchange reserves, said in its annual report the annualized real rate of return from its investments for the 20 years through March was 3.9% in U.S. dollar terms, unchanged from a year earlier.
For the five years ended in March, the sovereign-wealth fund said the annualized return in U.S. dollar terms was 3.4%, while it was 7.6% for the 10-year period.
GIC describes itself as a long-term investor and doesn't provide the absolute dollar amount of its investment or portfolio. Full story
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