The Government of Singapore Investment Corporation (GIC), which manages Singapore’s FX reserves, has posted results for the financial year that ended on March 31, 2011. The GIC’s average rate of return from its investments for the 20 years to March increased to 7.2% in U.S. dollar terms, as compared to a 20-year average 7.1% return a year earlier.
The 20 year annualized real rate of return, in excess of global inflation, was 3.9%, at the end of March 2011. For a five-year period from April 2006 to March 2011, the sovereign wealth fund reported a 6.3% annualized return in U.S. dollar terms, as compared to 7.4% for the 10-year period from April 2001 to March 2011.
Click here for the release from GIC.