The world’s eight biggest state fund with its portfolio valued at $248 billion is moving towards Index Investing. For a start, GIC is splitting its portfolio into two parts – one that is actively managed, and another tracks the market.
GIC Pte, manager of more than $100 billion of Singapore’s reserves, is changing its investment strategy for the second time in three decades to be more flexible as the global outlook becomes “complicated.”
GIC will split its portfolio into one that’s actively managed, and another that tracks the overall market, it said as its annual report showed returns were little changed. The company didn’t say how much of the assets will be managed or indexed against the market.