GIC's portfolio has shrunk by about 25 per cent from its peak, partly because it went in too early to buy into global banks, such as Citigroup and UBS.
'However, GIC's returns over the long term have been credibtable by international standards,' Mr Tharman added.
What actually Tarmac said is only lost 25%, better than temasick 31%, better than MSCI 41%, so the GIC bast#### performance is generally better in terms of INTERNATIONAL STANDARDS.
KNNBCCB
Vote the bald Tarmac out next GE
'However, GIC's returns over the long term have been credibtable by international standards,' Mr Tharman added.
What actually Tarmac said is only lost 25%, better than temasick 31%, better than MSCI 41%, so the GIC bast#### performance is generally better in terms of INTERNATIONAL STANDARDS.
KNNBCCB
Vote the bald Tarmac out next GE
