Santiago principles - GIC
- ️Wed Aug 24 2022
The Investment Mandate from the Government to GIC clearly defines GIC’s terms of appointment, investment objectives, investment horizon, risk parameters, and investment guidelines for managing the portfolio. The Government, represented by the Ministry of Finance in its dealings with GIC, neither directs nor interferes in GIC’s investment decisions, but it holds the board accountable for overall portfolio performance. The management executes investment strategies, is responsible for all investment transactions, and reports regularly to the board and the Government. GIC is also accountable in various key areas to the President of Singapore, as a Fifth Schedule company. The role of the President of Singapore in safeguarding reserves is further elaborated in the reserves management framework on the Ministry of Finance’s website.