"This was our most active year since the global
financial crisis," said Lin Boon Heng, chairman of Singaporean sovereign wealth fund Temasek, noting that the company earned 30 billion Singapore dollars ($22 billion) in new investments, and a
record S$19 billion ($14 billion) of divestments.
The fund reported a 19
percent annual shareholder return for the twelve months ended March 31,
in a dramatic turnaround from meager 1.5 percent return in 2014.
Thanks to strong performances in its Chinese and Singaporean portfolios, Temasek's net portfolio value rose to S$266 billion ($196 billion), more than double the value from a decade ago.
Since July 2014, China's benchmark equity index has exploded nearly 80 percent, while Singaporean shares climbed 2 percent in the same period.
Temasek, which is one of the world's largest state-owned investment institutions, said Singapore remained its largest country exposure, running up to 28 percent of its total portfolio in March.
As for China, it was gradually increasing its exposure, Temasek said noting that current volatility in stock markets may present opportunities to invest. The fund has no doubts the Chinese economy will grow in the long-term.
According to the official statement, from the fund's earlier investments in banks as broad proxies of a transforming economy, "we have broadened to include sectors like insurance, consumer, and technology, which are likely to benefit from the transformation of China," the official statement said.
Temasek trimmed its stake in China Construction Bank, one of the mainland's largest banks.
The fund manager noted that new offices in London and New York helped it capitalize on investment opportunities in both regions.
As CNBC reports, in the United States, Temasek invested in biotech firms BioMarin and Alexion, as well as Cheniere, a maker of liquefied natural gas (LNG) export terminals. It monetized 10 percent of its long-held stake in New York-listed e-commerce giant Alibaba.
Its European assets included Deutsche Post, Gaztransport & Technigaz, and Origo.
