Expense ratios of sovereign wealth funds
March 24th, 2023 | 
Author: 
I obtained these figures from ChatGPT. The ratio of management expense is about 0.06% of investment funds for Norway and Saudi Arabia.
The ratios are much higher for GIC and Temasek, being 0.17% for GIC and 1.9% for Temasek.
I do not know if these ratios are strictly comparable, but they appear to be high for GIC and excessively high for Temasek.
Singapore GIC:
According to its latest annual report for the financial year ended 31 March 2021, GIC had total assets under management of SGD 551 billion (approximately USD 410 billion) and total expenses of SGD 882 million (approximately USD 654 million), including management fees and other operating expenses. The ratio of GIC’s management expenses to its total assets under management is approximately 0.17%.
Singapore Temasek:
According to its latest annual report for the financial year ended 31 March 2021, Temasek had a net portfolio value of SGD 381 billion (approximately USD 284 billion) and operating expenses of SGD 7.3 billion (approximately USD 5.4 billion), including management fees and other expenses. The ratio of Temasek’s operating expenses to its net portfolio value is approximately 1.9%.
Norway:
As of 31 December 2020, the Government Pension Fund Global (GPFG) managed by Norges Bank Investment Management (NBIM) had assets under management of NOK 11,079 billion (approximately USD 1.3 trillion). According to NBIM’s annual report, the total management costs of GPFG for 2020 were NOK 4.2 billion (approximately USD 495 million), equivalent to 0.04% of the fund’s assets under management.
Saudi Arabia:
The Public Investment Fund (PIF) of Saudi Arabia had total assets under management of SAR 1.97 trillion (approximately USD 525 billion) as of 31 December 2020, according to its latest available annual report. PIF’s management expenses for 2020 were SAR 1.1 billion (approximately USD 293 million), equivalent to 0.06% of its assets under management.
Tan Kin Lian
Posted in 
百度 version of chatgpt 文心一言 drawi g capabilities 幾搞笑下.
https://m.hupu.com/bbs/58821631.html
百度文心一言的ai作画，什么水平？让人直呼牛逼
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Just do a ratio of the salaries of top leaders in countries like USA (most powerful), Finland (most happy), Luxembourg (most wealthy by median income) to salaries of SG leaders.
In the past you paid peanuts and get monkeys…..well, times has changed.
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Too many FAT cat$ who are overpaid and under-performing.
Time to clean up.
Employ real SG TALENTS,NOT $cholarly fat cats and FAKE FTs.
If so,less of LEHMAN MINI-BOMB$ N *TOO BIG TO FAIL BANK$* MISADVENTURE$?
MAJU-LAH SG,MAJU-LAH LIONS!
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Does anyone here doubt what MANAGEMENT EXPENSES are?
It simply means, AIR TICKETS to Europe, America, China and other parts of the world where the funds are invested in on a REGULAR basis.
Senior MANAGEMENT flies BUSINESS with a ticket costing close to $6K one way.
They do this on a REGULAR basis thus accruing flight miles on a PERSONAL BASIS! Not COUNTING THE BUSINESS HOtELS they stayed in and are feted FOC!
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Vote for monkeys and get peanuts.
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Of course comparable and the norm is less than 0.01%……
What the liars will tell you is that all are not comparable because they are the highest paid in the world so more than 1% is correct………what’s wrong with writing own checks when the goons agree?
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Straits Times: No regrets in choosing a political career over mathematics: PM Lee
PM Lee might have no regret but Singaporeans certainly have because they are worse off since he became PM.
1) Thousands of Singaporeans lost their jobs to foreigners.
2) Price of HDB flats more than doubled with stagnant wages.
3) Over priced BTO HDB flats “drained” the CPF accounts of Singaporeans.
4) His wife lost BILLIONS of taxpayers’ money in Temasek.
5) Singapore became one of the most expensive place to live in with depressed wages from the massive iinflux of “cheap” (no CPF) foreign workers
Lastly, PM Lee did not support his father’s wish to demolish his house after his death.
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Oh forgot to mention that as GIC is using your CPF money to invest, they are
Actually SPENDING YOUR PROFIT DERIVED FROM YOUR CPF!
And for TEMASEK, they are spending PROFITS DERIVED FROM OUR RESERVES INVESTMENT!
Tio boh?
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Singaporeans lost their jobs to foreigners and end up working as a food delivery riders or private hire with small income. Meanwhile PM paid himself the world highest salary and also paid his wife unmentionable salary.
How the fiack is he looking after the Singaporeans welfare ?
Indeed LKY had made the greatest mistake.
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Straits Times: Singapore’s approach to employment resilience is to protect workers, not jobs: DPM Wong
DPM Wong at it again – talking c**k.
PAP wants Singaporeans to be more “resilient” after they lose their job to foreigners because of PAP’s pro-alien policies.
But “resilience” will not work because PAP tilted the local job market in favour of foreigners by exempting them from CPF making them up to 17% cheaper to employ than Singaporeans.
Even skills training will not work because there will always be a “cheaper” foreigner with the same or even more skills.
The only solution is REGIME CHANGE. Throw out the pro-alien PAP. In Singapore it should be SINGAPOREANS FIRST. ALWAYS.
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LHL’s “numbers” do not add up. Singaporesns are worse off since he became PM.
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Did he really have a choice?
No Sinkie believe he did.
Mommy or Daddy made that choice.
Most princeling live the unlived life of their daddies.
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Sg need to stop taking vochure.the administration wants us to be addict ed to their vochure.like drug addicts.
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Sad to say sg got really human form COVID.
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Govt cost$ n govt agencies n investment vehicles’s cost$ are way too high for the low *returns* stake-holders(sg citizens) are receiving.
Need a PARLIAMENTARY COMMITTEE LED BY NON-GOVT MPs to look into COMPENSATION POLICIES.
WP N OTHER OPPO MPs can form such a committee with govt MPs as members.
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