Government Of Singapore Investment Corporation - GIC
- A government-owned company assigned to manage Singapore's sovereign wealth fund. The GIC was formed in 1981 with the aim to invest the sovereign wealth fund more aggressively in higher yielding asset classes and over a longer investment horizon. According to the Sovereign Wealth Fund Institute, the GICS controls the sixth largest sovereign wealth fund in the world, with $247.5 billion in assets under management as of 2009.
The GIC manages funds on behalf of two clients, the Government of Singapore and the Monetary Authority of Singapore. Although the GIC has the usual corporate structure it has two unique features due to its status as a "Fifth Schedule" corporation in Singapore. First, the approval of the President of Singapore is required to take certain actions, such as appointment and removal of directors and key managers. Second, the financial statements of the GIC are audited by the Government of Singapore's auditor-general. A number of the GIC's directors and key officers are prominent current or former members of the Government of Singapore, while others are independent directors appointed from the private sector.
Investment dictionary. Academic. 2012.
Look at other dictionaries:
Organisation of the Government of Singapore — Singapore This article is part of the series: Politics and government of Singapore Constitution Legislature … Wikipedia
China Investment Corporation — Type Sovereign wealth fund Industry Investment service Founded Beijing, China (2007) … Wikipedia
Pakistan Industrial Credit and Investment Corporation — (PICIC) is one of the first Development finance institutions established with the World Bank Group assistance in 1957 in Pakistan. Since then, it has been actively playing its due role towards economic development of the country.PICIC is… … Wikipedia
Singapore — Singaporean, n., adj. /sing geuh pawr , pohr , sing euh /, n. 1. an island on the Strait of Singapore, off the S tip of the Malay Peninsula. 2. an independent republic comprising this island and a few adjacent islets: member of the Commonwealth… … Universalium
Government-owned corporation — A government owned corporation, state owned company, state owned entity, state enterprise, publicly owned corporation, government business enterprise, or parastatal is a legal entity created by a government to undertake commercial activities on… … Wikipedia
Singapore — This article is about the city state. For other uses, see Singapore (disambiguation). Coordinates … Wikipedia
Singapore Airlines — Infobox Airline airline = Singapore Airlines logo size = 300 fleet size = 102 (+73 orders, 59 options) destinations = 66 IATA = SQ ICAO = SIA callsign = SINGAPORE company slogan = A Great Way To Fly founded = 1947 (as Malayan Airways)… … Wikipedia
Singapore 2006 — was a group of several concurrent events that were held in Singapore in support of the 61st Annual Meetings of the Boards of Governors of the International Monetary Fund and the World Bank Group. The opening ceremony and plenary sessions for the… … Wikipedia
Corporation Bank — Type Public Traded as BSE: 532179 … Wikipedia
List of Singapore-related topics — This is a list of topics related to Singapore. For a similar list in alphabetical order, see list of Singapore related topics by alphabetical order. Those interested in the subject can monitor changes to the pages by clicking on Related changes… … Wikipedia
Monetary Authority of Singapore — Logo of MAS Headquarters … Wikipedia