PETALING JAYA: Permodalan Nasional (PNB), the country’s largest fund manager, will continue with diversification efforts that include increasing its exposure to overseas markets as well as fixed income assets.
Its group chairman Tan Sri Dr Zeti Akhtar Aziz described 2020 as “the most tumultuous in our history” but the fund had remained resilient thanks to its transformation strategy that was implemented in 2018.
In 2020, PNB’s total international assets increased to 12% of its overall portfolio which Zeti said had generated a much larger contribution to the fund’s returns of 25.5% as compared to 11.6% in 2019.
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