The global equity markets fell by over 20% in 1Q 2020, its worst quarterly performance since the Global Financial Crisis (GFC). Source: MSCI World Index.
The NIRC comprises up to 50% of the net investment return from the reserves under management by GIC, Monetary Authority of Singapore and Temasek, and up to 50% of the net investment income derived from past reserves from the remaining assets. It is the single largest revenue source for the Government.
It is estimated that 40% of global consumption will take place in Asia by 2040.
Source: Asia's Future Is Now Report, McKinsey (July 2019)