Sovereign wealth funds: The new rulers of finance
Getting the basics right
Financial institutions weigh up the opportunities
Temasek: A fund apart?
The fund has A$60 billion ($52.4 billion) under management but has yet to do much with it: at June 30, when last disclosed, 75% of the portfolio was in cash. That figure becomes 91% if a slab of 2.1 billion Telstra shares, inherited from the state during the T3 privatization sale in February and to be held in escrow until 2008/09, is excluded.
Much of the fund’s activity since its official formation under the Future Funds Act in April 2006 has been in getting the logistics right. It hired David Murray, the former head...
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