Singapore - GIC, Temasek, MAS, MoF & CPF 04 (Mar 20-Dec 24)

[winston]

Singapore’s Temasek stock bets shrink by US$5.6 billion, the most in 17 years, amid Fed hikes and recession fears

The firm’s bets on US-listed stocks shrank last quarter by the most since the final quarter of 2004, SEC filings show

US rate hikes stoked recession fears, slamming its bets including BlackRock and Amazon, while holdings in Chinese stocks were largely unchanged

by Cheryl Heng

Incurring steep paper losses on BlackRock, Amazon, PayPal and Airbnb. It retained most of its stakes in Alibaba Group Holding and other Chinese stocks.

Held 97 stocks valued at US$18.33 billion on June 30, according to its 13F regulatory filing with the Securities and Exchange Commission late on Monday. It listed 96 stocks worth US$23.97 billion on March 31.

Source: SCMP

https://www.scmp.com/business/markets/a ... ales-price

[winston]

GIC reported a 4.2 per cent annualised rolling 20-year real rate of return for the latest period ended Mar 31, and is rebalancing its portfolio — by shoring up on private equity and real assets — as recession risks grow.

The rate of return, which spans 2003 to 2022 for the year ended Mar 31, is down 0.1 per cent from the previous year.

Annualised nominal return, not accounting for inflation, came in at 7 per cent in US dollar terms — demonstrating the extent to which global inflation has eaten into returns.

GIC said in its annual report published on Wednesday (Jul 27) that it has been increasing its allocation to certain high-growth asset classes, such as private equity, that “can provide returns that keep pace with elevated inflation".

Source: Phillips

[behappyalways]

GIC, Blue Owl agree to buy store capital for US$14 bil
https://www.theedgesingapore.com/news/r ... l-us14-bil

[winston]

Temasek to step up investments once market valuations drop further, executive says

by Yantoultra Ngui

"Current valuations are not reflecting the risk of downturn we see in the next 12 to 18 months".

Temasek remains committed on its four major investment trends:-
1. Digitisation
2. Longer lifespans
3. Sustainable living and
4. The future of consumption

Earnings could decline by as much as 15%.

Owns some of the biggest Asian companies, such as DBS Group, China Construction Bank and Standard Chartered. The investment firm has a 63% exposure to the region as measured by underlying assets of its portfolio companies, most of which are in Singapore and China.

Source: Reuters

https://www.theedgemarkets.com/article/ ... utive-says

[winston]

Singapore's GIC says global recession scenario possible, eyes Australia opportunities

By Praveen Menon

Factoring in the potential for a global recession and was prepared to stress-test its portfolio if need be.

GIC is ranked as the world's fifth-biggest sovereign investor with $690 billion in assets, according to research firm Global SWF. The fund has said its assets are worth more than$100 billion.

Lim also said that GIC is looking at opportunities in Australia's renewable energy industry and related sectors, as the country's economy has been comparatively resilient.

Lim also said China will continue to be a focus for GIC, which counts e-commerce behemoth Alibaba Group Holding <9988.HK>and food delivery giant Meituan <3690.HK> among its investments.

Source: Reuters

[behappyalways]

Full FTX Fundraising

https://mobile.twitter.com/minigrogu/st ... _&ref_url=

[behappyalways]

Temasek to write down over US$200 million in FTX
https://www.theedgesingapore.com/news/c ... illion-ftx

[winston]

Temasek Makes Biggest Cut in US Stock Positions in Over 17 Yrs in 2022, Bolsters JD.com Stake in 4Q

The firm held a total of 72 stocks worth USD17 billion as of the end of 2022, which represents a reduction of USD10.7 billion compared to the figure at end-2021.

Temasek held eight U.S.-listed Chinese ADR stocks at end-2022, which include, apart from JD.com, Yum China (YUMC.US) (09987.HK), Alibaba Group (BABA.US), BeiGene (BGNE.US (06160.HK), ZTO Express (ZTO.US) (02057.HK) and PDD Holdings (PDD.US)

Source: AAStocks Financial News

http://www.aastocks.com/en/stocks/news/ ... t-news/HK6

[behappyalways]

Singapore's Central Bank Boosts Gold Reserves By 30% To Nearly 200 Tonnes
https://www.zerohedge.com/markets/singa ... 200-tonnes

[behappyalways]

MAS denies it has told private banks here to 'keep quiet' about origin of fund flows
https://www.theedgesingapore.com/news/b ... fund-flows