Malaysia’s Biggest Fund Buying Stocks as Foreigners Sell
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Malaysia’s largest pension fund said it was a net buyer of the nation’s stocks during recent declines as foreign investors cut their holdings.
The Employees Provident Fund, which manages more than $170 billion of assets, bought good quality and fundamentally sound shares, Mohamad Nasir Ab. Latif, deputy chief executive officer of the fund, said in an e-mail interview yesterday. The FTSE Bursa Malaysia KLCI Index fell 6.8 percent from its July 24 record through Aug. 28 before rebounding 5 percent. The gauge slid 0.1 percent at the 5 p.m. close in Kuala Lumpur.