Temasek’s portfolio had a net value of S$313 billion as at its 31 March 2019 financial year-end. The portfolio comprises at least 25 listings on SGX, including 15 companies and 10 trusts with a combined market cap of more than S$200 billion.
The 5 constituents in Temasek’s portfolio with the highest 10Y annualised returns were: Mapletree Logistics Trust (+14.6%), Ascendas REIT (+10.8%), CapitaLand Commercial Trust (+8.7%), DBS Group Holdings (+6.4%) and Keppel REIT (+6.2%). They averaged a 10Y annualised total return of 9.3%
Mapletree Logistics Trust was also the best performer in the 2020 YTD with a 3.2% return. The trust was amongst the S-REITs that saw the highest net institutional inflows in the YTD.
Temasek’s portfolio had a net value of S$313 billion as at its 31 March 2019 financial year-end. The portfolio is well diversified with financial services, Telecommunications,Media & Technology accounting for majority at 25% and 20 % respectively. The portfolio, with 26% exposure to Singapore, consists of at least 25 listings on SGX, including 15 companies and 10 trusts with a combined market capitalisation of more than S$200 billion. Singtel, DBS and Mapletree Investments Pte Ltd accounted for the portfolio’s biggest names at 8%,6% and 5% respectively.
See also the previously published Market Update on the Highlights of Temasek’s SGX-listed investments for financial year ended 31 March 2019.
The 5 constituents in Temasek’s portfolio with the highest annualised returns over the last 10 years were 4 REITs and 1 stock: Mapletree Logistics Trust (+14.6%), Ascendas REIT (+10.8%), CapitaLand Commercial Trust (+8.7%), DBS Group Holdings (+6.4%) and Keppel REIT (+6.2%). The 5, which have a combined market cap of more than S$70 billion, averaged a 10Y annualised total return of 9.3%.
Mapletree Logistics Trust – which clocked the highest 10Y annualised total return – was also the best performer in the 2020 year-to-date with a 3.2% return. The trust was amongst the S-REITs that saw the highest net institutional inflows in the YTD.
S-REITs, which have a combined market value of S$90 billion, make up more than 10% of the market cap of Singapore listings. Growing investor participation in recent years has seen REITs contributing more than 20% to daily turnover in the YTD.
The table below details the 15 companies and 10 trusts in Temasek’s portfolio listed on SGX, sorted by 10Y annualised returns.
| Name | SGX Code |
Market Cap S$bil |
10-Year Annualised Total Return % |
5-Year Annualised Total Return % |
YTD Total Return % |
|---|---|---|---|---|---|
| MAPLETREE LOGISTICS TRUST | M44U | 6.7 | 14.6 | 14.5 | 3.2 |
| ASCENDAS REIT | A17U | 10.5 | 10.8 | 9.9 | -1.1 |
| CAPITALAND COMM TRUST | C61U | 6.0 | 8.7 | 4.4 | -19.6 |
| DBS GROUP HOLDINGS | D05 | 49.0 | 6.4 | 2.2 | -25.8 |
| KEPPEL REIT | K71U | 3.6 | 6.2 | 2.4 | -13.0 |
| SATS LTD | S58 | 3.4 | 5.8 | 2.9 | -39.3 |
| SINGAPORE EXCHANGE | S68 | 10.4 | 5.8 | 6.9 | 11.0 |
| ASCOTT RESIDENCE TRUST | A68U | 2.7 | 4.6 | -0.2 | -33.8 |
| ST ENGINEERING | S63 | 10.2 | 4.6 | 2.1 | -16.5 |
| CAPITALAND MALL TRUST | C38U | 6.7 | 4.5 | 1.4 | -25.1 |
| SINGTEL LTD | Z74 | 45.5 | 4.4 | -4.1 | -16.9 |
| STARHUB LTD | CC3 | 2.5 | 1.2 | -14.2 | 2.1 |
| KEPPEL CORPORATION | BN4 | 10.9 | 0.4 | -4.3 | -11.8 |
| CAPITALAND LTD | C31 | 15.2 | 0.1 | -1.7 | -20.8 |
| SINGAPORE POST | S08 | 1.6 | -0.2 | -15.0 | -23.1 |
| SIA ENGINEERING | S59 | 2.1 | -2.1 | -11.6 | -34.4 |
| OLAM INTL | O32 | 4.8 | -3.0 | -3.1 | -18.2 |
| SINGAPORE AIRLINES | C6L | 7.3 | -5.4 | -10.2 | -32.6 |
| SEMBCORP INDUSTRIES | U96 | 2.8 | -6.7 | -16.8 | -31.0 |
| SEMBCORP MARINE | S51 | 1.5 | -13.9 | -23.4 | -43.9 |
| MAPLETREE COMM TRUST | N2IU | 6.2 | NA | 10.0 | -20.3 |
| MAPLETREE INDUSTRIAL TRUST | ME8U | 5.5 | NA | 16.0 | -1.5 |
| MAPLETREE N ASIA COMM TRUST | RW0U | 3.0 | NA | 3.2 | -21.5 |
| NETLINK NBN TRUST | CJLU | 3.8 | NA | NA | 3.7 |
| HUTCHISON PORT HLDGS TRUST | NS8U | 1.6 | NA | -21.1 | -22.5 |
Source: Bloomberg & SGX (data as of 29 Apr 2020)
