Good investments boost Singapore sovereign fund
Singaporean sovereign wealth fund Temasek posted a 9% portfolio gain, equal to US$215 billion. The company said that the growth was due to the global recovery and a series of successful investments in energy and resources sector.
Temasek made investments worth US$20 billion since the year started, and divested a total of $13 billion. The energy and resources industry received a total of US$4 billion from the sovereign wealth fund, prompting its shareholder profit to increase by 8.86%.
The fund is headquartered in Singapore, with most of its investments placed in the region. China and Singapore have received the most investments from Temasek, but projects from North America and Europe received increased investments as well. The company notes that there are opportunities for investments in the Western market. Temasek plans on opening up bases in London and New York, according to a spokeswoman in an interview with Asian Investor.
"While we increased our exposure in North America and Europe, Asia continued to attract the largest proportion of our investments," said S Dhanabalan, chairman of the fund.