SINGAPORE -- Slowing growth in its investment performance in emerging markets -- especially China -- is spurring Singaporean sovereign wealth fund Temasek Holdings to pump more money into the developed markets of North America and Europe, where it hopes to ride economic recoveries there to bigger returns.
In its recently published annual report, the 40-year-old fund showed that it funneled 40% of all new investments in the financial year ended March into Western markets, a big number for an entity known for its focus on emerging economies. The shift may indicate that further global diversification of Temasek's portfolio is on the way.
