Temasek sticks with Asia after portfolio rises 43pc
SINGAPORE sovereign investment company Temasek yesterday said its portfolio rose 43 per cent year-on-year to S$186bn (£88.6bn) at the end of March, but has slipped since then in line with soft global markets.
The eighth-largest sovereign wealth fund in the world said 78 per cent of its portfolio was in Asia as of the end of March, up from 74 per cent a year previously, and that it planned to remain overweight on the region for the forseeable future.
“Notwithstanding global re-adjustments, the growing middle income populations in Asia and other growth markets continue to offer significant investment prospects in the longer term,” Temasek said in its 2010 annual report.
The closely guarded state agency said it planned to allow financial institutions to invest in wholly-owned investment company SeaTown within three to five years, the first step in allowing public participation in Temasek.
Earlier this month it emerged Temasek has hired former minister Baroness Vadera as a consultant.