Aug
20
Malaysia’s $62 Billion State Fund Wants to Hold Less Cash
By-
PNB may invest in fixed income, property, private equity
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Weak ringgit, lack of attractive investments holding PNB back
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Malaysia’s largest state-owned fund manager is looking to hold less cash even as it struggles to make acquisitions that would generate attractive returns.
A fifth of Permodalan Nasional Bhd.’s 266 billion ringgit ($62 billion) of assets under management is in cash and money markets, and Chairman Abdul Wahid Omar said in an interview that the fund could reduce such holdings by at least 5 percentage points. That would free up about 13.3 billion ringgit, according to Bloomberg calculations…
Malaysia’s $62 Billion State Fund Wants to Hold Less Cash
