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GIC is a fund manager for the Government of Singapore. We do not own the assets that we manage. As a rule, GIC invests outside Singapore.
The Government, represented by the Ministry of Finance (MOF), mandates GIC to manage all assets in a single pool, on an unencumbered basis and without regard to their source, with the objective of achieving good long-term real returns. The Government gives GIC an investment mandate that stipulates the terms of appointment, investment objectives, risk parameters, investment horizon, and guidelines for managing the reserves.
Since 1991, the Constitution of Singapore has provided for the President of Singapore to be elected directly by Singaporeans every six years.
As a Fifth Schedule company, GIC is directly accountable in a number of key areas to the President, who is empowered to access any information needed to safeguard the country’s reserves.
The President’s concurrence is needed for appointments to and removals from the GIC Board. This additional layer of control ensures that GIC appoints only people of integrity who are competent and can be trusted to safeguard these assets.
The President appoints the Auditor-General of Singapore, who submits an annual report to the President and Parliament on his audit of the Government and other bodies managing public funds. This audit includes the Government’s portfolio managed by GIC and the main companies in the GIC Group.
At GIC, we value our reputation for integrity and professionalism. In order to safeguard GIC’s reputation and uphold the highest standards of conduct, it is critical that GIC provides a channel for reporting any misconduct or unethical behavior relating to GIC.
If an employee, business partner, or any person believes that any wrongful, illegal, improper or unethical conduct relating to GIC has been, or is in the process of being committed by any GIC personnel and/or GIC’s business partners, such conduct should be reported to GIC immediately. The earlier any wrongdoing is reported, the easier it will be to take corrective action and mitigate any risks to GIC’s reputation. All reports will be treated with strict confidentiality and the identity of the whistleblower will be protected, unless the applicable law requires GIC to make the necessary disclosures (e.g. in the case of a police investigation).
It is critical that a whistleblower provides as much relevant information as possible (e.g. name(s) of the party(ies) involved, dates, times, locations, the specific conduct in question and any additional supporting information, documentation or other evidence). In order for thorough investigations to be carried out, adequate specific information is required.
Please send your report to either or both of the following persons:
Chief Executive Officer
chiefexecutiveofficer at gic.com.sg
Chairman, Audit Committee
auditcommitteechairman at gic.com.sg
People are the heart of GIC. Our investment professionals manage the reserves for the long term, with the cooperation, collaboration, and support of our business professionals. Regardless of role or function, we are one GIC team — united in the common pursuit of investing for Singapore.
A portfolio as diversified and resilient as the country we serve.
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