Portfolio Performance

We track our total returns to our shareholder over various periods.

Total Shareholder Return (TSR) is a compounded and annualised measure, which includes dividends paid to our shareholder and excludes capital injections from our shareholder. Our TSR over short, medium, and long time periods are a snapshot of our performance.

As at 31 March 2017, our Singapore dollar one‑year TSR was 13.37%. Our three‑year TSR was 7.13% and our 10‑year TSR was 4%.

Our 20‑year TSR was 6%, versus the Singapore 20‑year annualised core inflation of under 2%. Longer term 40‑year TSR was 15%.

Our TSR is measured against our risk‑adjusted cost of capital, which is derived using a capital asset pricing model. The risk‑adjusted cost of capital is built bottom‑up, and aggregated over all our investments. 

S$ Total Shareholder Return and Risk-adjusted Cost of Capital (%)

(as at 31 March 2017)

Rolling S$ Total Shareholder Return (%)
(as at 31 March)

 

 
 

 

 

 

 

 

Footnotes:
TSR in US$ terms was 9%, 3%, 5%, 7%, 14%, 16% and 17% for 1, 3, 10, 20, 30, 40 and 43‑year periods respectively.
As of the year ended March 2017, annualised core inflation in Singapore was 1.1%, 1.9% and 1.5% for 1, 10 and 20‑year periods respectively (Source: Monetary Authority of Singapore).

TEMASEK REVIEW 2017

TEMASEK REVIEW 2017

Investment Themes

Investment Themes

Our investment activities continue to be guided by four investment themes and the long term trends they represent.

Related Links