This is why GIC and Temasek’s performance lags behind the global comparison. Singapore just made a very conscious policy statement. In Parliament, Senior Minister of State for Finance Jeffrey Siow clarified that Singapore will not benchmark GIC and Temasek against other sovereign wealth funds or global indices. Instead, their performance will be assessed strictly against their mandates and risk profiles. At first glance this sounds reasonable. But for investors – especially Singaporeans who care about CPF confidence, national reserves and long-term capital efficiency – this raises deeper questions. In this 1M65 speech we will discuss: • Why the government has made this announcement now • What the GIC and Temasek mandates actually mean in practice • Whether benchmarking based on mandates alone really reflects performance • What opportunity costs can be hidden by avoiding peer comparisons • Why the state investment rules should not be copied by individual investors This is not a piece of criticism. It’s a reality check on capital allocation. Nations invest to survive any crisis. Individuals invest to increase their wealth throughout their lives. Confusing the two leads to costly mistakes. Hashtags #1M65 #GIC #Temasek #SingaporeEconomy #SovereignWealthFund #InvestingTruth #CPF #LongTermInvesting #MacroInvesting #FinancialLiteracy #CapitalAllocation #WealthStrategy…
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