
Valuation adjustments hit Temasek's returns

Singapore’s Temasek Holdings flagged the abrupt reversal of a two-year ramp-up in valuation gains on its global direct investments across technology, healthcare, and payments on posting its worst annual return since 2016.
The investor recorded a loss of 5.07% for the 12 months ended March 2023 as net portfolio value shrank to SGD 382bn (USD 285bn) from SGD 403bn a year earlier. It continues a period of recent volatility....
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