GIC results mask ‘rough year’ as fund looks to boost resilience

Singapore sovereign wealth fund GIC has achieved its best investment results in eight years, based on its annualised rolling 20-year real rate of return, the metric by which it measures its performance. Despite inflation and other macro headwinds, the fund’s 20-year return rate rose to an inflation-adjusted 4.6% during the year ended March 2023, up from 4.2% the previous year. GIC said the increase meant that the fund’s two-decade rate of return had topped its calculation of the…