Temasek Holdings’ job is to invest Singapore’s reserves in a mix of both listed and unlisted businesses. The sovereign wealth fund recently reported a record net portfolio value for the fiscal year ended 31 March 2021 (FY2021). Temasek’s net portfolio value hit S$381 billion according to its latest annual review, up nearly 25% from the S$306 billion achieved a year ago. The surge in its portfolio was a turnaround from the 2.2% decline it experienced in the fiscal year 2020. The annual review also showcased interesting nuggets on how the fund invests its money and what sectors it has exposure to. Here are five highlights from the review that are worth paying attention to. A steady and consistent annual return Temasek reported an 8% annual return over the past 20 years, a testament to its steady and consistent strategy. In this context,  FY2021’s 25% return is high, but this was actually due to the sharp rebound in stock markets from the lows witnessed in March 2020....