Temasek, which manages a total of US$497 billion (S$667 billion) in assets under management (AUM) as of June 2023, intends to double or even triple its India share in the global portfolio. India’s contribution to the Temasek’s global portfolio is at $17 billion, which has risen from 3% five years ago to 6% currently.
Temasek has been investing $1-1.5 billion in India annually, on an average. In April this year, Temasek closed a $2-billion plus investment in Manipal Health for a majority stake in the healthcare provider.
Since April 1, 2023, the investment firm’s portfolio in India has exceeded stock market returns, that have appreciated around 13% in FY24 so far, said the BusinessLine report.
Investing for around two decades, Temasek is betting on sectors like — healthcare, SaaS, fintech companies, e-commerce, electric vehicles and electronics manufacturing services.
Temasek's portfolio comprises both listed and unlisted assets, including its investments in funds. Though, the investment firm has benefitted from the increase in the value of its unlisted assets.
As at 31 March 2023, 47% of Temasek's portfolio was mainly in cash or cash-equivalents and listed assets, and 53% was in unlisted assets and funds.
Some of Temasek’s major direct investments in India include Adani Ports, Lenskart, Country Delight, AU Small Finance Bank, PB Fintech, Pharmeasy, Zomato, Tata Play and Info Edge.
Temasek said in its annual review on Tuesday (July 12) that it had invested $61 billion and divested $37 billion in the year ended March 31, 2022. That boosted its net portfolio to a record $403 billion for the period.
At 23%, financial sector is Temasek's top exposure while 18% of Temasek's portfolio presently comprises TMT (Technology, Media, and Telecom) assets, down from 21%, while exposure to transport and industrials is up 22% from 19%.
Advertisements