November 2020
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November 2020
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Malaysia’s largest fund manager PNB sees no “disruptive” selling amid tough economy

PNB says that it will continue to expand its international portfolio  “gradually and responsibly".
By Goh Thean Eu   
November 23, 2020

Malaysia’s largest fund management company Permodalan Nasional (PNB) hasn’t seen “disruptive” selling by its investors in spite of the economic fallout from the coronavirus pandemic, according to Chairman Zeti Akhtar Aziz.

She says the selling has “remained fairly stable” and the company is not seeing any “disruptive withdrawals”.

“From time to time, we see some withdrawals, but this has remained stable for us,” Ms. Zeti told a media briefing on November 19, without providing specific figures.

Ms. Zeti also says PNB will continue to expand its international portfolio “gradually and responsibly”.

"We will look at the fundamental trend, the outlook of the investments, the outlook of the overall industry and sectors of that investment in the economy of any respective country,” she says.

PNB said in May that it plans to sharply increase its foreign exposure to 30% of total assets by the end of 2022 from just 8.5% at the end of last year in order to seek higher returns in the ongoing low yield environment.

Kuala Lumpur-based PNB had 300 billion ringgit (US$73.36 billion) of assets under management and more than 14 million unitholders as of end-2019.