Singapore's sovereign wealth fund, GIC, delivered an annualized nominal US dollar return of 5.6% over the 20 years to March 31, or 3.4% after adjusting for global inflation, according to a Friday release.

The 20-year rolling real return serves as GIC's primary metric to evaluate long-term performance, reflecting its mandate to preserve and enhance the international purchasing power of the national reserves under its management.

The fund is now refreshing its investment framework from 2026, focusing on active investing, private markets and strategic partnerships.