Singapore's Temasek Completes Sell Down of U.S.-Listed Banks
- Exits holdings in Goldman Sachs, JPMorgan, Morgan Stanley
- Makes a new investment in Aslan Pharmaceuticals: 13F filing
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Temasek Holdings Pte. completed its total sell down of U.S.-listed banks in the second quarter, exiting its holdings in institutions from Goldman Sachs Group Inc. to Morgan Stanley, according to its 13F filing to the U.S. Securities and Exchange Commission.
The Singaporean state firm, whose portfolio climbed 12 percent to S$308 billion ($224 billion) in the year to March 31, has been gradually exiting its positions in U.S. lenders as it focuses more on fintech and other new-economy investments. Chinese banks, however, remain a priority.