29.11.2016 - Taking charge in time of lower returns
That the announcement of various changes to the leadership team at GIC - including the elevation of Mr Lim Chow Kiat to chief executive - caused barely a stir speaks of the confidence the general public has in the sovereign wealth fund's ability to continue managing Singapore's foreign reserves ably. Yet the leadership changes come at a critical juncture. The global investment climate is challenging as economic growth languishes, something that GIC acknowledged in its recent results. Its key benchmark - the 20-year annualised real rate of return - has fallen to 4 per cent from the 4.9 per cent reported the previous year...............................................Full Article: Source
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