Experts say the recent changes of chief executives at state investment funds PNB, EPF and Kwap all have similar explanations, with Khazanah potentially being next.
Malaysia’s sovereign wealth fund has been hit especially hard by Covid-19, to the extent that its chief executive and more of its overseas offices are seen as under threat.
The pandemic has sharpened investors’ focus on ESG adoption, but for Khazanah and other asset owners in Asia, scaling up sustainability-themed investments has its challenges.
Some asset owners in the region are reducing riskier assets, while more investors around the world are planning to increase their allocations to government bonds.
The sovereign wealth fund's sale of a Malaysian hospital to another of its portfolio companies marks the latest in an ongoing set of healthcare asset divestments.
The Malaysian sovereign wealth fund has closed its London office and is reducing its Turkish presence – yet it is keen to increase its foreign exposure as part of a portfolio overhaul.