TEMASEK Holdings warned of increased near-term downside risks even as buoyant stock markets lifted its portfolio to a 12.19 per cent one-year return for the financial year ended March 31, 2018.
The Singapore government-owned investment firm's net portfolio value grew to a record S$308 billion, up from S$275 billion a year ago, according to its annual report released on Tuesday. A year ago, the portfolio returned 13 per cent.
The latest results came as key listed holdings posted strong gains over the year; market capitalisation grew 44 per cent for DBS Group Holdings, 91 per cent for Ping An Insurance and 73 per cent for Alibaba Group Holding.
Annualised returns over 20 years was 7 per cent, up from 6 per cent a year ago. Dividend income was S$9 billion for the year. Net profit improved to S$21 billion from S$14 billion a year earlier, Temasek said.