Fund With 24% Returns Bets on Long-Term Stock Rally for Malaysia
- Benchmark KLCI Index to climb another 5% to 9%: Principal
- Prefers utility, construction and telecommunication shares
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Malaysia’s government policies are positioning the nation’s stocks as a long-term winner in the region, with a nearly 10% rally likely to extend, according to one of Asia’s top-performing funds.
“We are getting more confident on the policies that have been announced so far,” and are identifying potential beneficiaries of new measures that will be implemented, said Chun Hong Lee, a portfolio manager at Principal Asset Management Bhd. The benchmark KLCI Index may rise another 5% to 9% in the next 12 months, he added.