 "Singapore GIC's domestic equity holdings rises 32% to Rs 2.14 trn in a year")
The market value of Singapore-based Government Investment Corporation’s (GIC’s) domestic equity holdings has risen 32 per cent to Rs 2.14 trillion during the 12 months ended December 2023.
GIC, also India’s largest sovereign wealth fund (SWF), has the largest holdings in blue chip stocks like HDFC Bank, Reliance Industries (RIL) and ICICI Bank. GIC holds more than 1 per cent stake in nearly 50 companies.
Norway's giant SWF Norges has seen its India equity holdings rise 21 per cent to Rs 86,628 crore, according to data provided by Primeinfobase.com.
The equity holding data is for NSE-listed companies, where the fund holds at least 1 per cent stake. ICICI Bank, Infosys and Axis Bank were the top holdings for the Norwegian fund.
Kuwait Investment Authority (KIA) is the third-biggest SWF in India with a market holding of Rs 9,019 crore as on December 2023. This is a decline of 30 per cent from the previous year.
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KIA, too, has invested in over a dozen domestic stocks.
Overall, assets under custody (AUC) of SWFs investing in India have risen 36 per cent to Rs 4.2 trillion at the end of December 2023.
According to NSDL data, SWFs account for about 7 per cent of the overall foreign portfolio investor-assets under custody (FPI-AUC).