Wednesday, September 29, 2010

IPO of GIC Fund

Mr. Tan,
I found the prospectus of the IPO document in MAS Opera.  I will not be commenting on it as I don't have the stamina to go through the 540 page doc.  Looks like it is primarily China and Japan properties.  GIC supposedly said that they are positive properties so I am not sure why they sell the portfolio.  Maybe they have better use of the funds? By the way, it is not a REIT structure.  Dividend payment at managers discretion.  My hunch is that GIC is looking to make management fees from other than the Singapore Government.