Temasek's Portfolio Value Sets New Record Amid US Economic Risks

Temasek's portfolio value has reached a record high. The company, which has investments in various sectors including finance and technology, has stated that it believes US risks have likely peaked. This positive outlook is reflected in its investment strategy, which focuses on long-term growth and diversification.

Temasek Holdings, the Singapore-based sovereign wealth fund, has announced a record portfolio value of USD 434 billion for the financial year ended March 31, 2025. This represents a significant increase of USD 45 billion from the previous year, largely driven by the strong performance of its listed Singapore-based Temasek Portfolio Companies (TPCs) and direct investments in China, the US, and India [1].

The company's 10-year total shareholder returns (TSR) have increased to 5%, compared to 6% in the previous year. This is due to the removal of the March 2015 performance from the measurement period, which was a strong year due to favorable market conditions [1].

Temasek's investment strategy for the year has focused on long-term growth and diversification, with a net investment of USD 10 billion, reversing the net divestment of USD 7 billion from the previous year. The company's portfolio segments include Singapore-based TPCs, Global Direct Investments (GDIs), and Partnerships, Funds, and Asset Management Companies (PFAs), with each segment managed differently to achieve the company's long-term goals [1].

The Singapore-based TPCs, which make up 41% of the portfolio, have historically anchored the stability of the portfolio and contributed significantly to its performance this year. The company's Global Direct Investments, at 36%, focus on investing in established or emerging market leaders aligned with digitization, sustainable living, future of consumption, and longer lifespans. The PFAs, making up 23% of the portfolio, help broaden the range of opportunities and scale capital in both private and public markets [1].

Temasek's portfolio remains resilient through external shocks and market cycles, with a mark-to-market (MTM) value of USD 469 billion, up USD 49 billion from the previous year. The company's active portfolio management and reshaping over the past 20 years have enabled it to deliver sustainable returns over the long term [1].

The company's strategic outlook is optimistic, with a focus on long-term growth and diversification. Temasek believes that US risks have likely peaked and is investing in core-plus infrastructure and artificial intelligence opportunities. The company is also exploring emerging technologies and sustainable solutions to catalyze climate action [1].

References:

[1] Temasek Review 2025 Media Briefing. Retrieved from [https://www.temasek.com.sg/content/temasek-corporate/en/news-and-resources/news-room/speeches/2025/temasek-review-2025-media-briefing](https://www.temasek.com.sg/content/temasek-corporate/en/news-and-resources/news-room/speeches/2025/temasek-review-2025-media-briefing)