Singapore’s state-owned investor Temasek, one of the world’s leading funds, said today that it will prioritize investing in the United States after China’s capital market performed well last year. go.
Temasek said its net portfolio value grew 1.8% in the financial year ended March 31, boosted by weakness in the Chinese market. That compares to a 5.2% decline last year for one of the world’s 10 largest investors.
It said its net worth stood at S$389 billion (US$288 billion), up from S$382 billion. Temasek has been cautious in China after poor performance, while the United States will continue to be our main source of capital, company officials said in a presentation of the company’s financial report.
It said the Americas region accounted for 22% of its global exposure, the largest outside Singapore, but did not provide details for the United States. We need to position our portfolio for the future, keeping in mind the geopolitical environment as well as the relative competitiveness of each economy, said Deputy Managing Director Chia Song Hwee.
That’s why…we’ve been talking about allocating more capital to different markets like the United States at least over the next 12 to 18 months.
Png Chin Yee, chief financial officer of Temasek, said the company is still relatively young in the US market.
We see the United States as a deep market with many innovations. Therefore, it is a good place for our capital, he said.
Temasek, whose global footprint extends beyond city-states, said its one-year return to shareholders stood at 1.60%, reversing last year’s negative 5.07%. The 10-year and 20-year returns are 6.0% and 7.0%, respectively.
Temasek has stakes in companies including Singapore Airlines and the country’s state-owned lender, DBS Group
