good job, people at GIC & Temasek

Reuters – Tuesday, January 20 http://sg.news.yahoo.com/rtrs/20090119/tap-temasek-gic-c3bb44c.html

SINGAPORE, Jan 19 – Singapore’s sovereign wealth funds, the Government of Singapore Investment Corp and Temasek Holdings [TEM.UL], outperformed global equity markets in 2008, the city-state’s finance minister said on Monday

“Their overall value has fallen by less than the decline in global equity markets, as they maintain diversified portfolios and had taken precautionary actions early in the crisis to reduce their exposures to the equity markets,” Tharman Shanmugaratnam said in a reply to a parliamentary question, referring to a 42 percent fall in 2008 in the MSCI World equities index.

 

Nice to know this, even as we mull over spending our reserves (at last).

I’ll just like to commend the people working in these institutions. They did a great job ! I can imagine it’s tough in this sort of world today, and Singapore being a small ship in a vast ocean, but they did it. The pressure must be great, the hours i’m sure are punishing.

 To each one of you, especially the ones who do all the tedious leg work, making everything gets done, Thank you . We do appreciate you.