Proposed changes to how Malaysian GLICs operate should clarify what their mandates are meant to achieve but risk putting pressure on returns, say observers
Permodalan Nasional Berhad’s latest annual report shows that its gradual increase in exposure to foreign assets does not appear sufficient to meet a stated end-2022 target.
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.
The Malaysian state-linked unit trust manager has given factor-based global equity mandates to three fund houses and is mulling investing into new types of illiquid assets, say sources.
The state-linked fund manager’s foreign real estate holdings are largely in the UK, but that is set to change. It recently bought logistics assets in Poland and is eyeing other locations and segments.
Malaysia's $72 billion government-linked fund manager plans to engage more external partners and add strategies in a three-year plan to build an "all-weather" portfolio.