Temasek Holdings reported that the net value of its portfolio grew to $286.48 billion at the end of March — surpassing last year's record high.
Temasek Holdings reported Tuesday that the net value of its portfolio grew to $286.48 billion at the end of March.The investor also warned the outlook for the global economy remains in a "fragile state."
"Amid the uncertainty in global markets, we steadily invested and divested to capture opportunities aligned with long-term structural trends," Temasek said in a statement. "We aim to construct a resilient and forward-looking portfolio, with sustainability at the core of all that we do." Given the "likelihood of a recession in developed markets over the next year, we maintain a cautious investment stance while staying focused on constructing a resilient portfolio underpinned by the structural trends we have identified," said Rohit Sipahimalani, Temasek's chief investment officer.
"Policy agencies are likely to maintain a supportive stance to buffer headwinds from soft property activity and pandemic restrictions," the report noted. In the U.S., the labor market remains tight and inflationary pressures continue to be strong, the report added.
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