Temasek's net portfolio value grows by S$7 billion to S$389 billion, boosted by US and India investments
- Kelvin Tan
- Jul 9, 2024
- 1 min read
Photo: Temasek
Temasek Holdings reported a S$7 billion (US$5.2 billion) boost in its net portfolio, reaching S$389 billion as of March 31.
The increase was driven by strong returns from the US and India, counteracting underperformance in China. The state investor thus posted a 1.6% annual shareholder return, recovering from the previous year's negative 5.07%.
Temasek's cautious investment strategy saw net divestments of S$7 billion, influenced by bond repayments and share redemptions. The sovereign wealth fund invested in technology, financial services, sustainability, consumer, and healthcare sectors, focusing on four structural trends since 2016.
The Americas and Singapore remain key regions, while China's portfolio share declined. In spite of prevailing geopolitical and economic challenges, Temasek continues to explore opportunities, particularly in the US and India. The state investor also refined its portfolio valuation methodology, suggesting a mark-to-market value of S$420 billion.
Despite setbacks, including the FTX debacle, Temasek remains committed to tech investments to stay abreast of global innovations.
Article by Abigail Ng for CNA. Read more here or in the PDF below.
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