Our initial portfolio in 1974 reflected Singapore's early stages of industrialisation. Some of these companies, and others added since, have grown into iconic Singapore brands, such as DBS and the Singapore Zoo. Others, like Singtel, Singapore Airlines and PSA, have transformed into regional and global champions.
In recent years, we have been investing in several trends driven by social progress, demographic shifts and changing consumption patterns, enabled by technological advances.
We continue to seek innovative companies at the forefront of developing new, sometimes disruptive, solutions that create new opportunities, while addressing the growing needs of the world's population.
As at 31 March 2020, our net portfolio value was S$306 billion.
Posts
CW,
ReplyDeleteWell, its like ink blots - we see what we want to see.
Those who koala invested into Singapore ETF only would extrapolate the investment performance of the past 40 years into the next 20 years.
Those who see the diminishing investment returns in each passing decade as evidence the low hanging fruits have been plucked... We need to monkey see, monkey do what Temasek is doing!
Venture overseas to find those investment opportunities that resemble Singapore's fledgling companies in the 70s ;)
Uncle8888,
ReplyDeleteBelow is a chart of large caps since 2000: global developed countries versus emerging countries versus STI.
Developed in black/red; EM in red; STI in blue.
If you removed dividends, STI is basically zero returns for 20 years.
I think people in both Temasek & GIC have observed this long time ago.
For listed stocks, they have to "play" in the arena of large caps --- their combined estimated 3/4 trillion dollars would have absolutely distorted pricing in small or mid caps space.
For small caps, they prefer to go into unlisted arena i.e. private equity e.g. Rivulus, Grab, Gojek & Ant Financial (which is now attempting to IPO & no longer small cap LOL).
Ha ha! If Temasek and GIC started to pump money into SGX, we will have assets enhancement in SGX and lucky picks like HDB asset enhancement in 1990 and HDB enbloc lotteries.
Delete- Singapore stock market is not big enough to accommodate our sovereign wealth fund's asset size.
ReplyDelete- Poor diversification if sovereign wealth fund keeps substantial portion of its fund within Singapore. In a financial crisis, better not die together.