Temasek’s goals are bold for a low-yield world

Temasek’s goals are bold for a low-yield world:

"In a low-yield world, Temasek’s goals look increasingly aggressive. The $180 billion Singaporean state investor has just suffered its first down year since the financial crisis. The bigger issue is that return targets still look pretty punchy.

Temasek’s portfolio was worth S$242 billion ($180 billion) at the end of March, down from $266 billion a year earlier: a total shareholder return of minus 9 percent, the first drop since 2008-09.

Despite a big push into unlisted investments, three-fifths of Temasek’s worth is still tied up in listed securities, and weakness there was a serious drag. Top holdings such as Singapore Telecom, DBS and China Construction Bank – which together account for more than one-fifth of the total portfolio – produced negative returns of 9, 22 and 19 percent respectively in the year to the end of March, Datastream shows."



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