Malaysia’s Armed Forces Fund Board plans to increase allocation to foreign assets to 20% of its investment portfolio, Mohammad Ashraf Md Radzi, chief executive officer of the fund, says in an interview with state-owned news agency Bernama.
He says the move is part of the strategic asset allocation of the fund, known by its Malay language acronym LTAT, and that technology is one of the key sectors it’s looking at for the overseas investments.
LTAT managed 13.36 billion ringgit (US$3.4 billion) of assets at the end of last year. It earned 749.49 million ringgit of total investment income in 2025.
The fund’s current foreign asset allocation was not disclosed in the interview published on March 24.
According to Mohammad Ashraf, LTAT will start off small in raising the allocation, and plans to work with external fund managers to manage the investments.
“Any deployment abroad would be carefully structured and assessed, particularly in light of prevailing geopolitical uncertainties that could affect global market fundamentals,” he says.
He says the fund is in the midst of obtaining approval from regulators, including the central bank, for the investments.
Spokespersons for LTAT did not immediately respond to questions from Asia Asset Management.
