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By Rodrigo Santos Andrade
Jeffrey Siow on risk-adjusted returns and performance of GIC and Temasek
visibility comment0 event January 12, 2026 timer 03:55
The government’s assessment is that the returns generated by GIC and Temasek are reasonable and within expectations, given their mandates and risk profiles. The government will continue to review their mandates and performance regularly, in line with changes in the global economic investment landscape.
Senior Minister of State for Finance Jeffrey Siow said this in reply to MPs’ questions in parliament on Monday (Jan 12). He pointed out that the government assesses their performance primarily against their respective mandates and risk profiles – not with other funds. GIC has achieved a real return of 3.8 per cent per annum over the past 20 years. Temasek has over the last 20-year period reported a total shareholder return of 8 per cent per annum in US dollar terms.
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