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VSL says 14 years ago
Good. My prayers are partially answered.
If the products that Seatown offers are more competitive than what CPF Board offers, I will consider myself being a launch investor of Seatown.
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Temasek to Launch Seatown
Temasek Holdings is to set up a wholly owned subsidiary called Seatown with a war chest of up to $5bn when fully-established.
The unit will be led by Charles Ong, its chief strategist, and be based at The Atrium at Orchard. Mr Ong is a former investment banker who joined Temasek in 2002.
Temasek will provide seed finance to Seatown, which is also expected to also attract backing from institutional investors.
Seatown’s investment mandate is expected to include not only stocks and bonds, but might also include alternative assets.
Seatown could turn out to be an avenue whereby local Singaporeans can co-invest alongside Temasek. Last July, the CEO of Temasek Ho Ching, it might ultimately allow the public to invest with it in projects.
Actually, Temasek Holdings all along had another wholly owned subsidiary called Fullerton Fund Management which operates as a fund management company catering to institutional and high net-worth individuals. In recent times, it has opened up some of its funds to retail investors.
At this point, it is still unclear how Seatown would be set up to allow retail investors to be part of it. As Ho Ching mentioned, they are still thinking through and things might only be clearer in 6 to 12 months time.