“Our NPV (net portfolio value) would have been about 2 per cent higher if not for the impact of these events on public markets,” he said.
Mr Pillay noted that public market valuations bounced back in April and May.
“The vast majority of losses was recovered, which gives us confidence that our public markets strategies remain relevant for longer-term portfolio performance,” he said.
ACTIVE YEAR OF INVESTMENTS
More than 40 per cent of Temasek’s portfolio is made up of Singapore-based companies including DBS, Singtel and Singapore Airlines.
Key divestments by Temasek include the sale of Dutch company Axia Vegetable Seeds and Schneider Electric India.
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