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PNB to maintain focus on Malaysia
Contrary to speculation, investing in the domestic capital markets remains a priority for Permodalan Nasional Bhd (PNB) and it will continue to look for homegrown investment opportunities and currently the local market holds 68 percent of its portfolio.
PNB is the country’s largest fund management company with RM338 billion in assets under management.
In a statement, the company assured everyone that they are not moving away from Malaysia and they will continue to deploy capital into Malaysian companies via initial public offerings, subscription to sukuk, investment into real estate and into private companies.
PNB will also continue with its asset diversification to overseas markets and other asset classes to ensure the fund is resilient and sustainable.
In the past, PNB was known for its ‘over-concentrated’ investments that were mainly in the local stock market and it only started to diversify overseas in 2018.
In 2021, PNB’s international assets increased to 16 percent of its overall portfolio which has generated a much larger contribution to the fund’s return by 30 percent compared to 24.2 percent last year.
-THE MALAYSIA VOICE