GIC Professionals Programme

Thanks Ee Mae for sharing this job posting by GIC.

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GIC Professionals Programme

ABOUT US
The Government of Singapore Investment Corporation (GIC) is a global fund management
company whose sole task is to invest the foreign reserves of Singapore, amounting to well over US$100 billion. We are inviting bright and energetic people to join our Professionals Programme commencing August 2009.

Our target is soon-to-be graduates, or graduates who have been out of university for no more than 4 years. We are looking for those who want to build a career with GIC, whether as an investment professional or in any of the supporting roles which enable excellent investment results.

GIC invests in multiple asset classes in both the public and private markets, across 40 countries. We have over a thousand staff, comprising over thirty nationalities working in eight offices in the world’s major financial centres. What we offer is an exciting and rewarding career, where teamwork is strong, assignments are satisfying and demands are challenging.

Started in 1981, GIC takes pride in our tradition of professionalism and meritocracy. We have a reputation of being among the best large public and corporate pension, endowment and sovereign wealth funds in the world.

JOIN THE GIC PROFESSIONALS PROGRAMME
The GIC Professionals Programme underlines our commitment to continually seek talent for the long term, no matter whether the economy is up or down. We are looking for candidates from varied academic and work backgrounds who have:-

– Good IQ (intellectual capacity);
– Good EQ (emotional quotient – ability to work with and through others) and
– Good AQ (adversity quotient – capacity to take ups and downs with equanimity,
tenacity and resourcefulness).

Excellent grades are not good enough. You must be a person of character and integrity.

This is a one-year program conducted at our headquarters in Singapore, a vibrant city in Asia and a global financial hub in its own right. It starts with 5 weeks of intensive classroom training in finance, economics, investment analysis and GIC’s businesses. This is followed by 3 job rotations of 2 months each (generally one to public markets, one to private markets and one to investment support or corporate services), capped by a trainee stint in one of the departments.

You will benefit from our rich internal and external network of expertise. Senior management will host regular interactive sessions. You will be assigned a Managing Director as your mentor. Rotations will involve hands-on projects which could include overseas trips.

Those who complete the program successfully will be appointed Associates, and move on to careers in GIC which will be watched with much interest and expectation.

If you are ready to invest your time and energies in a future with us, email an application letter with your resume to apply@gic.com.sg. Please indicate in the subject field of your application the reference code “YPP2009”.

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College Endowment Plunged

Thanks to Mark Lee for the sharing below.

With the College endowment plunged, this would mean much more challenging financial aid this year.

This is quoted from WSJ .

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College endowments have suffered a sharp blow in the financial crisis, with aggregate investment losses of at least $94.5 billion, according to a new survey.

The losses, covering the period between July 1 and Nov. 30 of last year, likely understate the severity of the hit schools have taken, since they don't include losses in illiquid, hard-to-value investments that many schools have loaded up on. Schools warned that the declines could lead to cutbacks in financial aid.

Endowment income is a critical part of budgets at colleges, especially at private schools. Many schools large and small have already announced budget cuts, including hiring freezes and the curtailing of construction projects.
[Colleges Rich and Poor Lose Big]

The survey, by the National Association of College and University Business Officers and Commonfund Inc., a Connecticut nonprofit, covered 435 schools and is the broadest tally to date of the markets' toll on colleges, which held $413 billion in endowment funds as of June 30, when most schools' fiscal year ends.

The $94.5 billion loss amounts to a decline of 23% during the five-month period, which was less than the 29% drop in the Standard & Poor's 500-stock index. But if results don't improve by the end of the collegiate fiscal year, the loss would be the biggest since the association began tracking returns in 1974. And many colleges may be putting off a more severe reckoning by excluding likely losses in private-equity funds and real estate from their figures.

The college business officers' association, along with TIAA-CREF, a financial-services firm that focuses on educators, also released its annual list of the biggest U.S. endowments as of the end of the schools' 2008 fiscal year, generally ended June 30. Harvard led the list with its $36.56 billion endowment. At that date, a record 77 endowments had assets of more than $1 billion. Their wealth has drawn recent attention from the Internal Revenue Service, which monitors schools' nonprofit tax exemption.

The IRS interest follows an inquiry by Sen. Charles Grassley, the senior Republican on the Senate Finance Committee who has been examining the business practices of hospitals and universities. Mr. Grassley has questioned repeatedly whether schools were hoarding their money at a time when tuitions were placing a heavy burden on middle-class families.

Mr. Grassley has suggested requiring the largest college endowments to make the same 5% minimum annual payments as private foundations. The new survey found that schools, on average, spend 4.6%, though many of the wealthiest have spent considerably less in recent years. Terry W. Hartle, senior vice president for the American Council on Education, which represents 1,600 college presidents, said he expected the spending rate at many colleges will rise to 6% because of endowment losses.

On Monday, Mr. Grassley said colleges shouldn't use their endowment losses "as an excuse" to raise tuition or freeze student aid. "Contrary to what colleges might argue, the weak economy makes a strong case for more endowment spending," Mr. Grassley said. "If an endowment is a rainy-day fund, it's pouring."
—Craig Karmin contributed to this article.

Write to John Hechinger at john.hechinger@wsj.com

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Would encourage any of my blog readers to share with me any event that you come across. As long as the event/activity/initiative is education/charity/youth oriented and is not-for-profit, I would be more than happy to post it to share

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Your View Sought for 2nd Stimulus Package

Deputy Prime Minister and Finance Minister, Datuk Seri Najib bin Tun Abdul Razak, has been embarking on a mission to collect feedback from fellow Malaysians on how the 2nd Financial Stimulus Package should be.

Do chip in those ideas to najib@1malaysia.com.my . You can see the post by DPM here

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A couple of days ago, I announced the Head for the Project Management Unit in the Ministry of Finance to ensure the timeliness and effectiveness of the First Stimulus Package. I am pleased that we are already making further progress in reducing bureaucracy - allocations for Chinese schools for example, are now given directly to the schools' administrators for faster implementation.

As you may already be aware, a second stimulus package is in the pipeline. For one, the focus of this package will be different from the first. While the Second Stimulus Package has an overriding objective to address the issues facing us that have come about due to this global financial crisis, it will be focused on niche areas of the economy. I am in the process of gathering views from different parties on what is to be included in the second economic stimulus package. The relevant Government ministries and agencies are also committed to the stimulus package so that we avoid falling into a recession and sustain our economic livability.

I thought it would be a good idea to reach out to you via 1Malaysia to hear your views, comments and suggestions on steps and measures you think the Government should include in the Second Stimulus Package, In this regard, I invite all Malaysians to participate in providing constructive and healthy, yet concise inputs as your personal contribution to move our nation forward. In addition to submitting comments on this blog, you can also put forward your ideas to me through najib@1malaysia.com.my. I look forward to hearing from you.


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Chen Chow's Other Posts
Subscribe to Chen Chow's blog

Would encourage any of my blog readers to share with me any event that you come across. As long as the event/activity/initiative is education/charity/youth oriented and is not-for-profit, I would be more than happy to post it to share

Feel free to quote any post within my blog, as long as you link it back here. Sharing is always a good virtue. :)

Bloomberg Talk - 15th Jan 5pm

Saw this from Sebastian's Facebook notes. Thanks, Seb for the message.

This would be a great talk for those interested in finance!

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THEME
"Malaysia Outlook 2009 vs Global Financial Crisis"
(Prominent speakers and panelists include Tony Fernandes of AirAsia and Michael Rosenberg of Bloomberg)

DATE
15 Jan 2009

TIME
5pm to 8pm

VENUE
Mandarin Oriental Hotel KL

HOW TO REGISTER
Bloomberg Terminal, BU

So, mark this big event down on your calendar!
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Agenda:-

4:30pm - Registration
5:00pm - Keynote by TBC
5:15pm - "Global Financial Crisis & How It is Impacting Global Growth & Fed's Effort At Quantitative Easing" by Michael Rosenberg, Head of FX Research, Bloomberg
6:00pm - Bloomberg Dialogue
Panelists:- a) Tony Fernandes, CEO Air Asia
b) Joseph Tan, Asian Chief Economist, Credit Suisse First Boston, Singapore
c) Ray Choy, Head of Debt Market Research, RHB Research Institute
Moderator:- Haslinda Amin, Bloomberg L.P.

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Would encourage any of my blog readers to share with me any event that you come across. As long as the event/activity/initiative is education/charity/youth oriented and is not-for-profit, I would be more than happy to post it to share!

Insead Knowledge

For all of you who are interested in Economics, Business, Finance etc, do check out INSEAD Knowledge.

It just gave out the list of Top Ten articles for 2008. Do check it out here .

Do check out Knowledge At Wharton too.

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Click here to read more of Chen Chow's posts

Subscribe to my blog

Would encourage any of my blog readers to share with me any event that you come across. As long as the event/activity/initiative is education/charity/youth oriented and is not-for-profit, I would be more than happy to post it to share!

ASN3 and ASG

To all fellow Malaysians, Amanah Saham Nasional 3 and Amanah Saham Gemilang are currently giving 2 free units for every 100 units that one purchase. It is a good way for us to invest with ASN3 or ASG, as they have been able to give consistently very good returns (between 6-8% for the past few years).

For ASG, there is 3 component, Amanah Saham Kesihatan, Amanah Saham Pendidikan or Amanah Saham Persaraan.

You can purchase it at any Maybank, CIMB, RHB or Post Office.

If I am not wrong, this offer is open until 20th May 2008.

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Click here to read more of Chen Chow's posts

Would encourage any of my blog readers to share with me any event that you come across. As long as the event/activity/initiative is education/charity/youth oriented and is not-for-profit, I would be more than happy to post it to share!