Malaysian State Pension Fund Buying Stocks, Bonds During Rout
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Kumpulan Wang Persaraan (Diperbadankan), Malaysia’s second-biggest pension fund, said it has been a net buyer of the country’s stocks and bonds as foreign investors cut their holdings in Southeast Asia.
The retirement scheme, also known as KWAP, manages more than 91 billion ringgit ($27 billion) of assets and is favoring energy, banking and consumer stocks, Chief Executive Officer Wan Kamaruzaman Wan Ahmad said in an interview in Kuala Lumpur yesterday. The benchmark FTSE Bursa Malaysia KLCI Index has fallen 5.1 percent from its July 24 record and the ringgit slumped 5.3 percent this year, data compiled by Bloomberg show.