Temasek prefers fintech investments over US banks

Temasek, a Singapore-based investment firm, sold its list of US banks in full in the second quarter and got rid of institutional holdings, according to its 13F filing with the US Securities and Exchange Commission.

These institutions include Goldman Sachs and Morgan Stanley, which are being neglected in favor of fintech. However, Chinese banks are not neglected.

The investor’s portfolio grew 12% to $ 308 billion for the year ended March 31.

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