Is GIC a private company or a government body?
GIC was established on 22 May 1981 as a private company under the Companies’ Act, wholly owned by the Government of Singapore. GIC reports to its own Board of Directors which provides overall guidance and direction. Although GIC is government-owned and manages government funds, the relationship between GIC and the government is that of a fund manager and a client. GIC operates, invests, measures its performance and rewards its employees no differently from a global fund management company.
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