Temasek does not manage CPF monies

In his letter, “Review CPF interest rate, Minimum Sum” (Jan 4), Mr Fang Shouyi mentioned Temasek Holdings as “one of three agencies managing our reserves”.

Advertisement

We wish to clarify that Temasek does not manage Central Provident Fund monies, nor do we manage or invest Singapore’s foreign reserves.

Mr Fang noted that Temasek “has enjoyed a total shareholder return of 16 per cent per annum in Sing-dollar terms since inception”.

Temasek invests for the long term. As an owner, we are mostly invested in stocks and shares of companies. Our portfolio’s total market value can rise or fall by 30 per cent or more during volatile periods such as the global financial crisis. We are mindful that past opportunities and conditions are unlikely to repeat in the coming decades. Furthermore, global structural risks remain.

We are pleased to inform Mr Fang that we are exploring how to make it practical and efficient to offer Temasek Bonds to retail investors in Singapore. This will provide an alternative investment opportunity for those seeking stable returns with lower risks. We look forward to sharing more information with the public when ready.

FROM STEPHEN FORSHAW, MANAGING DIRECTOR, CORPORATE AFFAIRS, TEMASEK

Source: 

Filed Under: 

Tags: 

Advertisement

Your Views