Singapore - GIC, Temasek, MAS, MoF & CPF 03 (Aug 11-Feb 20)

Re: Singapore - GIC, Temasek, MAS, MoF & CPF 03 (Aug 11-Dec

Postby iam802 » Fri Feb 26, 2016 4:46 pm

Nothing surprising here. And, I assume they will say it is 'long term'.

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Temasek's energy, bank holdings take a hit

http://www.straitstimes.com/business/co ... take-a-hit

Singapore investment firm Temasek Holdings has racked up paper losses on its investments in banks and energy companies amid the global economic turmoil.

Deepening pressures within the banking industry, for instance, have taken a toll on the companies in the financial services sector that Temasek has invested in. With crude prices down more than 70 per cent - at dismal levels of US$34 a barrel - Temasek's picks in the energy and services sector, comprising 5 per cent of the firm's portfolio, have also not been spared the bloodbath that has affected the industry worldwide.

For CIMB Private Bank economist Song Seng Wun, Temasek's paper losses are hardly surprising.

"With the kind of market conditions we have now, every investor, big or small, will inevitably be hit," he said, adding that even Norway's sovereign wealth fund - the world's largest by assets - suffered its biggest quarterly loss in four years during the third quarter last year.

Among Temasek's financial services investments is Standard Chartered, which on Wednesday reported its first annual loss since 1989.

The market capitalisation has gone from £27 billion (S$54 billion) as at March 31 last year to £13.1 billion. The latest Temasek annual review puts its stake at 18 per cent.

Canadian oil sands company MEG Energy Corporation stood out among Temasek's investments in the energy and resources sector as the most heavily battered.

Its market capitalisation has slumped 79 per cent from C$4.58 billion (S$4.7 billion) as at March 31 last year to C$978.7 million as at Wednesday, while the stock has lost 45.8 per cent since the start of the year. Temasek's stake is about 5 per cent.

Another laggard was Spanish oil major Repsol, which made news recently over plans to sell €6.2 billion (S$9.7 billion) in assets and cut investments by up to 38 per cent over the next five years.

Repsol's market cap stood at €13 billion, compared with the €23.83 billion as at March 31 last year. Temasek's stake is about 7 per cent.

Still, Mr Song said the losses, as long as they are not realised, "serve more as a reminder of the importance of managing the portfolio well for the longer run".

"Both banks and energy companies are part of what we see as 'essential sectors' to the economy, so Temasek's investment focus on these key sectors will remain," he said. "But in the near term, they will certainly be focusing on companies that are structurally and fundamentally strong enough to withstand the current downshift. They have to ensure their investments are able to ride this out."

Temasek, in its review last year, said: "We may choose to invest, divest or remain in cash, depending on our view of the cycle. Our capital structure allows us to take a view on long-term trends, and weather the cycles of short-term volatility."

1. Always wait for the setup. NO SETUP; NO TRADE

2. The trend will END but I don't know WHEN.

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Re: Singapore - GIC, Temasek, MAS, MoF & CPF 03 (Aug 11-Dec

Postby winston » Thu Mar 24, 2016 7:11 am

Singapore's GIC sovereign fund expects low US stock returns

by Patti Domm

GIC holds its long-term portfolio in six asset classes, which it views as funding sources, he said.

Sixty to 65 percent of its portfolio is in the equity asset class in developed markets, emerging markets and in private equity investments. GIC also invests in fixed income and real estate.

"The U.S. is 45 percent of our exposure — the biggest investment destination for us," he said. Bridgewater Associates has been an investment partner with GIC for more than 20 years, he noted.

GIC looks for long-term opportunities in the $1 billion to $3 billion range.

Lim said GIC owns over 1,000 U.S. listed companies in small positions.

Lim said GIC is constantly looking at new technologies, such as cloud computing, block chain, electronic cars, self-driving vehicles, machine learning and renewable energy.

He said the U.S. is the largest source of innovation, but he is also looking at opportunities in Shenzhen, similar in spirit to Silicon Valley.


Source: CNBC

http://www.cnbc.com/2016/03/23/singapor ... turns.html
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Re: Singapore - GIC, Temasek, MAS, MoF & CPF 03 (Aug 11-Dec

Postby behappyalways » Fri Apr 22, 2016 12:21 pm

gic-rounds-off-portfolio-with-biggest-stock-buy-in-eight-years
http://www.bloomberg.com/news/articles/ ... ight-years
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Re: Singapore - GIC, Temasek, MAS, MoF & CPF 03 (Aug 11-Dec

Postby behappyalways » Mon May 23, 2016 5:29 pm

5 historic events involving Goh Keng Swee that transformed how Singapore government managed its money (or reserves)
http://mothership.sg/2016/05/5-historic ... -reserves/
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Re: Singapore - GIC, Temasek, MAS, MoF & CPF 03 (Aug 11-Dec

Postby behappyalways » Wed May 25, 2016 8:54 pm

GIC’s history is intertwined with Singapore’s economic development. Here’s how.

http://mothership.sg/2016/05/gics-histo ... heres-how/


behappyalways wrote:5 historic events involving Goh Keng Swee that transformed how Singapore government managed its money (or reserves)
http://mothership.sg/2016/05/5-historic ... -reserves/
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Re: Singapore - GIC, Temasek, MAS, MoF & CPF 03 (Aug 11-Dec

Postby behappyalways » Thu Jun 02, 2016 4:11 pm

Singapore Inc. Buys $1 Billion in Alibaba, Adding to China Bets
http://www.bloomberg.com/news/articles/ ... china-bets
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Re: Singapore - GIC, Temasek, MAS, MoF & CPF 03 (Aug 11-Dec

Postby behappyalways » Tue Jun 21, 2016 3:24 pm

Temasek sells 555 million shares in China Construction Bank
http://sgx.i3investor.com/servlets/fdnews/61777.jsp
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Re: Singapore - GIC, Temasek, MAS, MoF & CPF 03 (Aug 11-Dec

Postby behappyalways » Thu Jul 07, 2016 1:07 pm

Temasek Assets Likely Fell First Time Since 2008 on China Rout
http://www.bloomberg.com/news/articles/ ... china-rout
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Re: Singapore - GIC, Temasek, MAS, MoF & CPF 03 (Aug 11-Dec

Postby winston » Thu Jul 07, 2016 4:28 pm

Temasek’s Portfolio Fell 9% In 2015

By Shuli Ren

2015 was a challenging year for Singapore’s sovereign wealth fund Temasek.

As of March 31, 2016, Temasek’s net portfolio value was S$242 billion, down 9% in Singapore dollar terms and the first fall since 2009.

It was poor performance for Temasek, which generated 6% annualized returns in both 10- and 20-year horizons.

Much of the decline was “due to the fall in market values of our listed holdings,” said Temasek. The sovereign fund invested S$30 billion and divested S$28 billion last year.

Reuters reported earlier this week that Temasek is looking at U.S. deals, especially in technology, consumer and healthcare sectors, to diversify away from its exposure in Asia and emerging markets.

Singaporean and Chinese companies make up over half of Temasek’s portfolio.

Source: Barron's Asia
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Re: Singapore - GIC, Temasek, MAS, MoF & CPF 03 (Aug 11-Dec

Postby behappyalways » Fri Jul 08, 2016 12:42 pm

temasek-s-pivot-to-private-markets-is-a-sensible-move
http://www.bloomberg.com/gadfly/article ... sible-move
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