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Singapore’s investment giants are facing a familiar question: what counts as “good” returns?

14th January, 2026

When Singapore’s Parliament returned this week, MPs lined up questions about the performance of GIC and Temasek, two institutions central to the city-state’s fiscal model and its reputation for technocratic stewardship. The immediate trigger was a run of media comparisons suggesting that Singapore’s flagship investors have lagged global peers and public market benchmarks over the past decade.

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The Global SWF Year in Review 2025: The Ideas, Power Shifts and Structures That Defined Sovereign Capital

30th December, 2025

As 2025 draws to a close, Global SWF’s most-read analysis reveals a clear pattern: audiences were far less interested in short-term returns or league tables, and far more engaged by how sovereign capital is being organised, governed, and deployed. Across Abu Dhabi, the Gulf, Asia, and beyond, the most-popular themes among our readers shared a common thread: power, structure, intent, and institutional design.

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Temasek Tightens Its Asset Management Platform Model with Pavilion-Seviora Integration

26th November, 2025

Singapore state investor Temasek is tightening the lines between its in-house investment arms, folding private equity specialist Pavilion Capital into asset manager Seviora Group in a move that underlines its push to build a larger, more coherent Asian private-markets business.

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Temasek’s Three-Arm Split: Faster, Sharper, and Built for the Next Cycle

21st August, 2025

Singapore’s Temasek is evaluating a huge overhaul, carving the group into three focused investment arms - Domestic Temasek Portfolio Companies (TPCs), Global Direct, and Funds/Asset Management - to tighten accountability and lift returns.

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King of Co-Investments GIC increases US exposure, AuM rises to US$ 936 billion

25th July, 2025

On Friday, GIC released its results for the year ending on March 31, 2025 and they are quite revealing, even though the Singaporean SWF is opting to be opaquer and vaguer with some of its reporting.

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Singapore’s 2025 General Election: Stability vs. Scrutiny in Sovereign Wealth Governance

23rd April, 2025

On May 3, Singaporeans will cast their votes in what is shaping up to be the most consequential general election since the leadership handover from Lee Hsien Loong to Prime Minister Lawrence Wong in 2024.

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Singapore gets closer to Abu Dhabi, another Temasek unit opens in ADGM

24th March, 2025

As we anticipated in November 2024, Temasek-owned asset manager Seviora Group has opened an office in Abu Dhabi with the views of expanding its partnerships and activities in the region.

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Abu Dhabi and Singapore Strengthen Alliance via SWFs

6th November, 2024

Singapore and Abu Dhabi have seen their relationship grow in recent years, with their respective state-owned investors playing a crucial role in the developing economic partnership between the two countries, which enjoyed a non-oil bilateral trade approaching US$6 billion last year.

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Temasek Deepens Exposure to Agri-Food Sector, Leading Sovereign Investors

9th February, 2024

Temasek is continuing to deepen its investment in the agri-food sector by backing a food and farming strategy launched by Seviora Capital, aligning its investments with Singapore’s bid to become 30% self-sufficient in food.

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Special Coverage: Singaporeans Elect Their New President

31st August, 2023

Tomorrow, September 1, Singapore will elect a new president with custodial powers to safeguard the nation’s trillion-dollar financial reserves and oversee key appointments to institutions like MAS, GIC and Temasek.

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GIC’s FY22/23 return estimated at -8.1%, new AuM at US$ 769 billion

26th July, 2023

GIC issued its annual report on Wednesday, and it had plenty of information – except for, of course, its one-year single return, and its assets under management (AuM), which continues to argue would be against Singapore’s national interest. However, Global SWF maintains a dynamic and proprietary model that singles out the returns and considers the inflows and outflows to determine its AuM annually.

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Temasek loses 5%, reduces investments by half

11th July, 2023

On Tuesday afternoon, Temasek announced its FY23 results, and it was not pretty. For the year ended March 31, 2023, the Singaporean investor booked a -5.1% SGD return (or -3.4% in USD) and a -5.2% loss in portfolio value, from SGD 401 billion (USD 298 billion) to SGD 382 billion (USD 288 billion).

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