Singapore says GIC and Temasek returns are reasonable

A minister told parliament that returns by GIC and Temasek are reasonable and aligned with their mandates, stressing a long-term investment focus; the article reports Temasek's 10-year total shareholder return was 5% and its 20-year return was 7%.

Singapore's senior minister of state for finance told parliament that returns generated by sovereign fund GIC and state investor Temasek are reasonable and consistent with their mandates and risk profiles. Lawmakers had questioned performance after external coverage comparing Singapore's sovereign wealth returns with peers. Officials emphasised a long-term investment perspective rather than short-term or year-to-year fluctuations. They also pointed to market uncertainty and the government's capacity to absorb short-term volatility. Key points: - The minister said the funds focus on long-term performance rather than short-term fluctuations. - The article reports Temasek's 10-year total shareholder return was 5% for the year to March 31, 2025, and its 20-year return was 7%. - The article notes GIC's 20-year annualised real return was 3.8% for the year to March 31, 2025, slightly below the prior year. - The article says Temasek wrote down a $275 million investment in collapsed crypto exchange FTX, later cut senior executive pay, and that a portfolio company, eFishery, faces a probe into alleged misconduct. - The article notes GIC filed a U.S. lawsuit against Chinese electric vehicle maker NIO, alleging misleading statements. - The article states Temasek managed a S$434 billion portfolio as of March 2025 and will launch a new structure from April 1. Summary: The minister's remarks aimed to place recent returns in the context of long-term mandates and to address questions raised by lawmakers and press comparisons. Temasek's planned structural change on April 1 was noted; other procedural or oversight developments were not detailed and are undetermined at this time.