International holding structures for families with ties to Singapore.
International holding structures for families with ties to Singapore.
State Capital: CPF, Temasek and GIC
Few financial centres are shaped as strongly by the savings of their own state as Singapore. Every working citizen and permanent resident pays a share of wages into the Central Provident Fund. Read more Singapore · Global CentreThe Central Provident Fund
The Central Provident Fund grew out of a debate of the early 1950s about how to provide for workers in old age. Read more Singapore · Global CentreTemasek Holdings
By the early 1970s the government owned stakes in a wide range of enterprises created during the industrialisation drive of the 1960s, which Chapter C.III describes. Read more Singapore · Global CentreGIC and the management of reserves
GIC owes its existence to the persistent surpluses of the 1970s. Read more Singapore · Global CentreGovernance, transparency and the Santiago Principles
The protection of the reserves is written into the Constitution. Read more Singapore · Global CentreState capital as anchor of the financial centre
The most direct contribution of state capital to the financial centre has been through mandates to external managers. Read more Singapore · Global CentrePractical consequences for asset managers, banks and advisers
For practitioners, Singapore’s state capital is first a set of counterparties. Asset managers seek mandates from GIC and Temasek. Read more Singapore · Global CentreSingapore and Geneva: state capital and private wealth
The contrast with Switzerland could hardly be sharper. Switzerland has no sovereign wealth fund in the sense of GIC or Temasek. Read more Singapore · Global CentreState Capital: CPF, Temasek and GIC: summary
The Central Provident Fund, launched on 1 July 1955 as a compulsory savings scheme, became after 1968 the instrument through which Singapore financed home ownership, health care and retirement,… Read more