Temasek's portfolio hits record $215b

Temasek's portfolio hits record $215b

SINGAPORE - Temasek Holdings rode the rally in Asian and global share markets last year to lift the value of its portfolio to a record-breaking $215 billion.

The turnaround allowed the Singapore investment firm to lift its portfolio value by 8.6 per cent in the 12 months to March 31.

It also notched up one-year shareholder returns of 8.86 per cent, well up on the paltry 1.5 per cent eked out a year earlier. Its investment returns support its dividends which go to its shareholder, the Finance Ministry.

There was a note of caution amid the bumper numbers yesterday, with chairman S. Dhanabalan noting: "Last year marked a turning point in the global economy. The severe disruptive risks from the global financial crisis subsided, but structural risks have not been completely resolved."

The portfolio's 8.86 per cent returns were beaten by MSCI Singapore, which tracks the local stock market and rose 12 per cent over the 12 months, while the MSCI World index gained 11 per cent. However, the one-year return for just its listed investments came to 13 per cent.

While Temasek benefited from the robust stock markets, the reverse also happens when markets sag, as chief executive Ho Ching noted: "We are almost entirely invested in equities. This means a lot more year-to-year volatility, as we have seen over the last 10 years."

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