Temasek's China Bank Gains Offset by Euro Crisis: Southeast Asia

Professor Melvyn Teo, Director of BNP Paribas Hedge Fund Centre at SMU commented on Temasek Holdings' sale of Chinese bank shares and said that Temasek probably struggled to boost its total shareholder return beyond the 4.6% in the previous year as Europe's turmoil and the lackluster U.S. economic recovery roiled markets. Professor Teo also said that the returns would not be earth-shattering and that the long-only guys are having a tough time because the equity markets have not been doing well. It was a year focused on downside risk and people were getting more risk averse.