(as at 31 March 2015)
S$ Total Shareholder Return and Risk-adjusted Hurdle Rate (%)
Total Shareholder Return (TSR) is a compounded and annualised measure, which includes dividends paid to our shareholder and excludes capital injections from our shareholder. As a long term investor, we track our TSR over various time periods.
Our TSR is measured against our risk-adjusted hurdle rate, which is derived using a capital asset pricing model. The hurdle rate is built bottom-up, and aggregated over all our investments.