From WSJ: Temasek isn’t a bank. It is a state-owned investment firm with a portfolio valued at well over $100 billion that holds stakes in some of Singapore’s biggest companies. It also invests in companies outside Singapore and in other assets, too, including hedge funds, private-equity funds and real estate.
For years, Temasek has paid its employees with a sensible plan that includes cash bonus payments and deferred incentives. A key part (but not the only part) of the plan links bonus payments to something called “wealth added,” a measure of the company’s return on its investments in a given year that factors in its risk-adjusted cost of capital………………….Full Article: Source