BEIJING, CHINA - Assets invested by the fund management arm of Singapore's sovereign wealth fund, Temasek should rise 50 percent to US$15 billion ($21.5 billion) within 2-3 years, the fund's chief executive said on Monday.

"I think you will see both very healthy growth of AUM (assets under management) of 50 percent and up over the next two or three years," said Gerard Lee, head of of Fullerton Fund Management.

He was in Beijing to mark a partnership with China's Bosera Asset Management company.

Fullerton offers hedge funds and other investments to institutions and rich individuals, and also invests on behalf of Temasek Holdings.

Fullerton, which has US$10 billion under management, including Temasek funds, expects the additional funding to come from external sources.