SINGAPORE : Malaysia's largest asset manager, Permodalan Nasional Bhd (PNB), plans to add infrastructure assets into its portfolio from next year to diversify its exposure and navigate the current high inflationary environment, its top executive said. PNB, which managed 336.7 billion ringgit ($72.46 bi
SINGAPORE : Malaysia's largest asset manager, Permodalan Nasional Bhd , plans to add infrastructure assets into its portfolio from next year to diversify its exposure and navigate the current high inflationary environment, its top executive said.
"People are starting to look at how to protect their portfolios against the deterioration of value coming from inflation," Zulqarnain said, adding that globally, funds were under allocated to infrastructure as an asset class. "We'll be investing into portfolios of infrastructure assets and infra managers with track record that will give PNB exposure to a very diversified portfolio," Zulqarnain, 49, said in an interview on the sidelines of the Milken Institute Asia Summit in Singapore.
PNB, which was set up in 1978, has stakes in some of the biggest Malaysian companies such as lender Maybank and Sime Darby Plantation but has been diversifying its portfolio, across geographies and asset classes.