SINGAPORE: Investment returns from the US and India helped to offset China’s underperformance, and Temasek Holdings reported a S$7 billion (US$5.2 billion) increase in its net portfolio.
According to the state investor’s most recent annual review, made public on Tuesday (Jul 9), as of March 31, its net portfolio was valued at S$389 billion, up from S$382 billion a year earlier.
After posting its worst annual shareholder return since 2016 last year a negative 5.07 percent it reported a positive 1.6% yearly shareholder return. One of the three organizations whose returns are annually deducted from the government’s annual budget is Temasek.
Based on the Net Investment Returns Contribution framework, the government may use up to half of the long-term projected investment returns produced by Temasek, the Monetary Authority of Singapore, and the sovereign wealth fund GIC.
To bring its mark-to-market net portfolio value more in line with its peers, Temasek also improved how it calculated it. It now determines the fair value of its unlisted assets using other methods as well as market multiples of similar public companies. Its mark-to-market portfolio would be valued at S$420 billion using that methodology, while the portfolio from the prior year would be valued at S$411 billion.
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