Singapore $1.2 Trillion Sovereign Wealth Fund GIC 2025/2026 Reports Annualised +3.4% Real Return in Last 20 Years, +3.6% USD Nominal Return in Last 5 Years, +6.2% in Last 10 Years & +5.6% in Last 20 Years, GIC Asset Allocation: Equities 56%, Fixed Income 22% & Real Assets 22%, GIC Geographical Allocation: Americas 53%, EMEA 19%, APAC 22% & Global (Funds, Commodities, Supranational Debts) 6%
24th July 2026 | Hong Kong
Singapore $1.2 trillion sovereign wealth fund GIC 2025/2026 has reported annualised +3.4% real return in last 20 years, +3.6% USD nominal return in last 5 years, +6.2% in last 10 years & +5.6% in last 20 years. GIC Asset Allocation – Equities 56%, Fixed Income 22% & Real Assets 22%. GIC Geographical Allocation – Americas 53%, EMEA 19%, APAC 22% & Global (Funds, Commodities, Supranational Debts) 6%. In 2025 July, GIC 2024/2025 reported annualised +3.8% real return in last 20 years, +6.1% USD nominal return in last 5 years, +5% in last 10 years & +5.7% in last 20 years. GIC Announcement (24/7/26): “The GIC Portfolio achieved an annualised USD nominal rate of return of 5.6% over the 20-year period that ended on 31 March 2026. Adjusting for global inflation, GIC’s annualised real rate of return over the same period was 3.4%. The rolling 20-year real rate of return is the primary metric for evaluating GIC’s investment performance. It is in line with GIC’s mandate to preserve and enhance the international purchasing power of the reserves placed under its management over the long term — that is, to achieve good long-term returns above global inflation. Over the past decade, recurring forces across geopolitics, inflation and interest rates, climate, and technology have structurally reshaped the investment environment. In line with its mandate, GIC prioritised portfolio resilience through diversification. This moderated returns in stronger markets while providing greater protection against the downside and more flexibility to act on good opportunities as they emerge … … To navigate a fundamentally changed world, GIC is refreshing its investment framework from 2026. Building on the existing framework, this refresh draws on the capabilities GIC has developed in active investing, private markets, and strategic partnerships. In the new framework, the Strategic Portfolio (SP) represents the Client’s risk appetite and long-term return expectations. The SP comprises three asset groups: Equities for growth, Fixed Income for income, and Real Assets for inflation resilience. The GIC Portfolio will aim to outperform the SP over the long term within approved risk parameters through active investing to capture excess returns across market cycles.” GIC Investment Outlook – The global investment landscape is being reshaped by foundational shifts. Just in the past year, we have seen major changes to the global trading architecture that has underpinned economic growth for decades. Some major economies are making fundamental changes to how they manage public finances and regional armed conflicts that are threatening global energy supply. At the same time, rapid advancements in AI and related technologies are transforming almost every industry and raising fundamental questions about human capital. Each of these developments creates both opportunities and risks for investors. As the range of outcomes widens, it is more important than ever for investors to: carefully assess key risk-return assumptions for each asset; construct diversified, well-balanced portfolios that can deliver good real returns across a broad range of scenarios; and be agile in a fast-changing investment environment … … We believe three major forces will shape the investment landscape over the medium term: the changing world order, rising fiscal risks, and advancements in AI. Equities Outlook – Our Public Equities department continues to identify high-quality companies that can compound in value over the long term. Beyond market indices, which can be highly concentrated in certain countries and companies, our teams specialise in absolute and total return strategies. We believe we can do this well as we possess strong capabilities in deep and global thematic research. Our Private Equity department focuses on strategic partnerships across a strong network of global partners, providing access to good private market opportunities. We continue to watch risk management and position sizing closely and will take advantage of market dislocations and financing opportunities for businesses seeking growth capital. Fixed Income Outlook – We expect higher and more volatile inflation, alongside a potential increase in the global supply of bonds from rising deficits and debt-to-GDP ratios. These suggest persistently higher bond yields over the medium term relative to pre-COVID-19 trends. Unlike the past decade of low yields and near-zero interest rates, stable high yields can enhance fixed income returns. However, the transition from the low- to higher-yield regime may be volatile, as seen in recent years. In addition, low term premia suggest that medium-term risks around both inflation and deteriorating fiscal dynamics are not yet fully priced in. In response, our Fixed Income & Multi Asset department is increasingly focused on multi-asset investing. The broadening of investment capabilities in cross-asset macro and multi-asset credit will enable them to better navigate the evolving investment landscape. Real Assets Outlook – Amid longer-term inflation risks, real assets provide long-term returns that are less correlated to public markets, improve the GIC Portfolio’s inflation resilience through inflation-linked cash flows, and reduce overall portfolio volatility. The higher interest rate environment since 2023 has created attractive entry points across several sectors. Continued economic growth, digitalisation, and the climate transition provide compelling investment prospects for infrastructure. In Real Estate and Infrastructure, dedicated asset management and value creation teams work across our global offices to actively manage assets, drive operational improvements, and strengthen governance. Through disciplined execution, data-driven performance monitoring, and integration of sustainability and technology, these departments adopt a granular approach to manage market-specific challenges in a globally diversified portfolio. View GIC 2025/2026 Report here
“ Singapore $1.2 Trillion Sovereign Wealth Fund GIC 2025/2026 Reports Annualised +3.4% Real Return in Last 20 Years, +3.6% USD Nominal Return in Last 5 Years, +6.2% in Last 10 Years & +5.6% in Last 20 Years, GIC Asset Allocation: Equities 56%, Fixed Income 22% & Real Assets 22%, GIC Geographical Allocation: Americas 53%, EMEA 19%, APAC 22% & Global (Funds, Commodities, Supranational Debts) 6% “
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Lim Chow Kiat, Chief Executive Officer of GIC: “We will continue to focus on active investing which requires the judgement to allocate capital well and with granularity, the discipline to stay diversified, and the agility to act when good opportunities arise. By combining these strengths with our long-term horizon, we are confident that we can keep delivering good real returns for Singapore over the years ahead.”
Singapore $1.2 Trillion Sovereign Wealth Fund GIC 2025/2026 Reports Annualised +3.4% Real Return in Last 20 Years, +3.6% USD Nominal Return in Last 5 Years, +6.2% in Last 10 Years & +5.6% in Last 20 Years, GIC Asset Allocation: Equities 56%, Fixed Income 22% & Real Assets 22%, GIC Geographical Allocation: Americas 53%, EMEA 19%, APAC 22% & Global (Funds, Commodities, Supranational Debts) 6%
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