Established in 1981, GIC stands as a cornerstone among Singapore’s three investment entities, tasked with managing the national reserves together with the Monetary Authority of Singapore (MAS) and Temasek.

GIC employs a disciplined long-term value investing approach with a shared mission to secure Singapore’s financial future. This mission deeply resonates with Chelsia, a recipient of the GIC Education Scholarship and participant in GIC’s Professionals Programme (GPP). The programme equips graduates for global scale investing and asset management, aligning with Chelsia’s goal to apply her economics knowledge to further this purpose. We spoke to Chelsia about her integral role in GIC and being a participant in the GPP.

Tell us what sparked your interest in economics.

It started when I was studying economics in Junior College (JC). A game theory class introduced me to the concept of strategic decision-making and how individuals and firms can use game theory to analyse and predict the behaviour of others. I was fascinated by the idea that irrational behaviour could be explained by strategic considerations and that cooperation and trust could emerge even in the absence of formal contracts or institutions!

My interest in economics was furthered when I learnt about economic models being enriched by incorporating insights from psychology and how they were used to design more effective policies.

I eventually chose to pursue a Bachelor of Arts in Economics at the University of California, Berkeley in the United States because of its formidable reputation in economics and its emphasis on critical thinking and problem-solving. The programme exposed me to a wide range of economic theories and their applications. The economics professors at Berkeley are also good at teaching and research. In fact, one of our professors, David Card just won the Nobel Prize!

You are certainly passionate about economics! How do you apply what you have learnt to your current work?

As a member of the infrastructure team in GIC, I use economic models and data analysis to evaluate investment opportunities in infrastructure assets such as airports, ports, and renewable energy projects, assessing their potential risks and returns. I also draw on my knowledge of macroeconomics and public policy to understand the broader economic and political context in which these investments operate.

Chelsia

As a recipient of the GIC Education Scholarship, how has the scholarship contributed to your academic journey?

I discovered the GIC Education Scholarship through a talk held at my JC. I was immediately drawn to the scholarship because of GIC’s reputation as a world-class wealth fund and its commitment to developing young talents.

Thankfully, the scholarship provided me with financial support that allowed me to focus on my studies without having to worry about my tuition fees and living expenses. This support was especially crucial during my first year at university when I was adjusting to an unfamiliar environment and facing the challenges of a rigorous academic programme. What is more, the scholarship offered me opportunities to connect with GIC employees, who gave me insights into the investment industry and helped me build a professional network, and intern at GIC during my summer breaks, where I gained hands-on experience in the investment industry and learned from some of the best minds in the field.

Speaking of work, can you tell us more about your job at GIC and its work culture?

I am currently in the GIC Professionals Programme (GPP), a programme which presents a unique opportunity for young talents to gain exposure to different areas of the investment industry and develop a broad range of skills. I will be rotated across different teams, as well as have access to various mentors and industry professionals. This allows me to build a diverse network and gain a comprehensive understanding of the investment landscape.

After the job rotations, I will be deployed to the INFRA investments team in New York as an Analyst and my responsibilities will include participating in INFRA’s regional and global pipeline calls and supporting key elements of the INFRA deal process, such as diligence reports, internal approval memos, valuation analyses and more.

The work culture at GIC is characterised by a powerful sense of professionalism, excellence, and collaboration. There is a culture of continuous learning and development, with opportunities for employees to grow and develop their skills. It’s an organisation that values not only professional success but also personal growth and social responsibility.

People here recognise that no one has all the answers and that the best solutions often come from working together and leveraging each other’s strengths. This creates a supportive and inclusive environment where everyone’s contributions are valued and respected.

What possibilities are there for people who are joining GIC?

The possibilities are endless, whether it is structured career advancement, professional development, or international exposure!

GIC operates across a multitude of asset classes and locations, so it really depends on your interests and career goals. Even if you are not familiar with the industry, the GPP is an effective way for you to start, especially if you are fresh out of college like me! Or seek insight and advice from senior colleagues who will be more than happy to share their time and experiences with you.