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flag Singapore's finance minister defended state funds' returns, citing long-term performance and risk-adjusted results.

flag Singapore's finance minister Jeffrey Siow defended the performance of state investment funds GIC and Temasek, stating their returns are reasonable given their mandates and risk profiles. flag Speaking in Parliament on January 12, 2026, he emphasized long-term results over short-term fluctuations, noting GIC’s 20-year real return of 3.8% and Temasek’s 8% annual total shareholder return in U.S. dollars. flag Siow said the government evaluates performance based on net returns and risk-adjusted outcomes, not comparisons to peers, and reaffirmed that it does not interfere in investment decisions. flag Both funds will continue to be reviewed amid shifting global conditions.

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