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Singapore's Temasek records returns of 24.5%, highest in a decade

State investor reaps bumper net profit of $42bn in last fiscal year as markets rebound

Temasek's net portfolio value rose to SG$381 billion from SG$306 billion, a respite for the Singapore government-owned investor, whose one-year total shareholder return had tapered off in recent years. (Photo by Keiichiro Asahara)

SINGAPORE -- Singapore state investor Temasek's portfolio reversed a decline in returns for the year ended March 31 as rebounding markets lifted it from a COVID-19-induced slump.The company, which is among the world's most prolific institutional investors, on Tuesday reported an annual return of 24.5% for the period, a significant recovery from the minus 2.28% seen in the preceding year and its best performance in a decade.

Net portfolio value rose almost 25% to a record 381 billion Singapore dollars ($283 billion), up from SG$306 billion ($214 billion) in its previous report.

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