An analysis conducted by Strait Times has revealed that a huge portion of Singapore's state fund Temasek Holdings' portfolio losses has been recovered by it since March-09 as its value saw a major rebound on a strong global equity markets performance.

The report specified that an estimated $37bn gain had been registered by Temasek from March 31 to July 31, or a 40% upswing. It won't be wrong to say that Temasek's exposure to financial firms has led to majority of its gains since the end of March.

The report specified further that Temasek's portfolio touched about $164bn at the end of July due to hike in value. A sum of over $40bn was lost by the publicly-listed fund for the 12 months to March 31 this year.

It was forwarded by Temasek last month that notable changes had been introduced by it in the direction of the state-run funds to counter losses.