The GIC is not managing the Special Singapore Government Securities (SSGS) or CPF monies on their own, but a combined pool of Government funds including a significant sum of unencumbered assets, said Deputy Prime Minister and Minister for Finance Tharman Shanmugaratnam on Monday (Aug 4).
"That is why the GIC's mandate is to take calculated investment risks aimed at achieving good, long-term returns on the Government's funds, without regard to the Government's liabilities," he said. Speaking in Parliament, Mr Tharman added that the only way to avoid fluctuations in the value of Singapore's reserves is to avoid taking investment risk. This could include, for instance, investing all of Singapore's assets in cash-like instruments...............................................Full Article: Source
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