38% return per annum since 2002
Who can match such a sterling performance by Temasek? Wealth added is $23 bil and net value of portfolio from $129 bil to $164 bil or $35 bil added. Thus the 38% return should be somewhere between $23b and $35b. Is it reasonable to say that for the last 5 years, 2002-7, the average return from investment is about $25b times 5 or $125b? Now this number may look too big. How about a ballpark figure of $100b? And this would mean that in 2002, the net portfolio was only $64b. Reasonable? Just guessing. Not going to crack my head on this.