Singapore's wealth fund increases China holdings

Temasek Holdings Pte Ltd has increased its exposure to Chinese markets over the past year, even as Asia holdings weighed on its performance and the Singaporean investor turned to the West for growth.

The sovereign wealth fund's holdings of China assets rose to 25 percent in the fiscal year that ended March 31, up from 23 percent year-on-year, according to a statement it released on Tuesday.

China continued to be the top destination for Temasek's global portfolio after Singapore, which accounted for 31 percent of its portfolio.