Temasek Holdings recorded a surge in the global stock market as it assets bolstered.
The value of holdings owned by Temasek increased by 8.6 %, with an equivalent amount of S$215 billion or US$169 billion. The noticeable jump was compared to the previous S198 billion. Temasek, along with other companies benefited from the recovery of stocks around the world.
Temasek CEO Ho Ching, said in a statement today, "We are almost entirely invested in equities. This means a lot more year to year volatility, as we have seen over the last 10 years. We are prepared to ride through the large mark to market volatility on our portfolio value, because a portfolio of mostly equities also means we expect higher returns over the long term."
The firm's shareholder return was averaged at 16%. The total shareholder returns including dividends widened to 8.9 % from the previous 1.5% rate from the previous year.
Temasek is an investment company based in Singapore.
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