SINGAPORE - President Halimah Yacob has been briefed by Deputy Prime Minister Heng Swee Keat and officials from the Ministry of Finance on the Government's proposed expected long-term real returns on its assets.
Representatives from GIC, the Monetary Authority of Singapore and Temasek were also present to share their views on the long-term market outlook, she said."We examine the assumptions used in the projections carefully, as the expected returns will be used to derive the amount the Government can spend from our past reserves under the Net Investment Returns framework."
Among the three investment entities, the Government's assets are mainly managed by GIC, a professional fund management organisation that MOF describes as a"fairly conservative investor" in mainly public markets and, to a small extent, alternative investments such as private equity and real estate. Before the start of each financial year, the expected long-term real rates of return are proposed by the boards of GIC, MAS and Temasek, based on detailed study and assessments by investment professionals in the three agencies. A range of external expert views are also sought.
So the gahmen of the day is involved in the running of GIC, Temasek lah. Why keep pretending otherwise?
GIC &Temask will not be able to recover their huge investments in CCP Chinazi as its economy tanks and CCP is running out of Dollars because of trade wars, foreign investors rushing out and capitals flying out, while CCP still needs to import 70% oil, 20% foods ad 70% materials