.jpg)
1. Mr Heng Swee Keat, Acting Prime Minister and Minister for Finance;
Mr David Marsh, Chairman, OMFIF;
Distinguished guests, ladies and gentlemen;
A very good morning and a warm welcome to SGX.
2. It is indeed a privilege to be the venue host for the launch of the sixth edition of the Global Public Investor (GPI), which is taking place for the first time in Asia.
3. The presence of so many senior leaders here today indicates the importance of the good work that OMFIF is doing. It is essential to have neutral platforms such as this, where members of public and private sector institutions can interact as well as exchange insights and best practices.
4. This morning, OMFIF will share with us key findings of their survey with 750 central banks, sovereign funds and public pension funds. With investable assets of close to US$38 trillion, the investment activities and perspectives of these global public investors are of great interest, given the significant impact they have on global financial markets.
5. I will let the experts delve into the report findings, but I would like to share three points, which I hope will help frame your discussions today.
6. First, global public investors today are managing more money than ever before, while having to deal with unprecedented challenges.
7. Government institutions and corporations around the world have to cope with the volatile markets and the current geopolitical threats. There are many uncertainties – rising anti-globalisation, populism, trade wars, technological disruption, climate change and the list goes on.
8. Secondly, much of the asset growth we are seeing is concentrated in Asia, which continues to be on every investor’s radar. This dynamic region is where new growth opportunities lie, but it is also a region that is difficult to navigate given its diversity and idiosyncratic risks. At SGX, we have been building a strong derivatives business that will help investors manage these dynamic risks. We believe that our transparent governance framework and our strong financial backing will provide a robust clearing house for Asian risks.
9. Finally, just a few words on stewardship. In this increasingly complex business environment, we are reminded that the concept of stewardship has never been more important, for both public and private institutions alike.
10. All of us here have fiduciary duties, and we are responsible for assets which have been entrusted to us. We need to steward these assets carefully and think about how we can grow these assets, while ensuring that they can be handed over to the next generation in a better shape. This means adopting policies and strategies that can generate superior risk-adjusted returns in the long term.
11. At the same time, we need to go beyond financial risks and performance. Stewardship also includes managing intangible assets, and considering the impact our decisions have on our stakeholders, society and the environment. This is not just about climate change and going green. It is about the sustainability of our assets, our people, our economies and the world we live in, for generations to come. As members of the financial community, we can all play a role in setting an even higher bar for ourselves, and to invest more for good.
12. With this, I wish you all a rewarding forum, and I hope that many of these ideas will translate into actions that can bring us forward. Thank you.
