"Straits Times mentioned that the portfolio of Singapore’s
sovereign wealth fund GIC has fallen about 25 per cent
from its peak due to the financial crisis, but it deliberately left
out Reuters’ crucial statement that “the value of the fund was around $300 billion
a year ago“.
If the figures provided by Reuters were accurate, this means
that GIC is staring at a potential loss of some $75 billion
dollars and taken together with Temasek’s loss of $58 billion
dollars, we would have lost $133 billion dollars of our
reserves in less than a year. These were 2008’s
figures before the financial meltdown. I dare not imagine how much
we have lost by now."
the amount of assets are old news...
Singapore - Government
of Singapore Investment Corporation
Singapore - Temasek
Holdings
http://www.swfinstitute.org/fund/gic.php
paper loss or relaised loss are sad.
But on the other hand,shall we be happy that our forefathers
leave us so much reserve for rainy days?
