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Australian fund managers with a focus on Asia should pay attention to the $160 billion Temasek Holdings, which recently flagged a new charter that would open its mandate book to more Asian and emerging markets fund managers.
The Singaporean sovereign wealth fund has updated its charter as part of its 35th anniversary, which includes a renewed focus on Asia and other developing regions.
“Our vision remains to create and deliver sustainable long-term value for our stakeholders.
“In the medium-term, we believe this can be achieved with a clear focus on Asia, including Singapore, while we add exposures to new geographies like Latin America,” noted the charter.
Today, around two-thirds of the fund’s portfolio is made up of companies outside of Singapore, compared to a Singapore-centric portfolio seven years ago.
Meanwhile, Temasek has also reaffirmed the importance of governance in companies the fund invests in.
“As an active shareholder, Temasek reemphasises its governance principles as the cornerstone for Temasek and its portfolio companies to deliver sustainable value.”
Temasek Holdings is an Asia investment house headquartered in Singapore.
The fund’s portfolio is weighted towards Singapore and Asia.
Temasek’s total shareholder return since inception is more than 18 per cent compounded annually.