PNB to increase overseas investments

PNB to increase overseas investments

PUTRAJAYA: Permodalan Nasional Bhd (PNB) plans to increase its investments in its overseas portfolios in Britain and Singapore depending on the performance of these funds.

President and group chief executive officer Tan Sri Hamad Kama Piah Che Othman said PNB had plans to venture to other markets but it depended on the performance of its current investments.

“Although the investment in Britain is small, we are satisfied with the results. The fund in Britain has performed competitively, “ he told reporters after the launch of the 7th PNB Investment Quiz 2007 yesterday by Deputy Prime Minister Datuk Seri Najib Tun Razak.

He declined, however, to disclose the total investments and proposed increase. “We hope to increase it but this will depend on the timing. We will announce only when the time is suitable,” he added.

Hamad also said PNB registered double-digit growth in the net asset value (NAV) of its funds from 2005 up to last year.

PNB manages more than RM64bil in funds.

Datuk Seri Najib Tun Razak flanked by PNB chairman Tan Sri Ahmad Sarji (left) and Hamad Kama at the launch of the quiz
On PNB's existing products, he said not even half of the bumiputra allocation under the Amanah Saham Wawasan 2020 (ASW) had been taken up, compared with the allocation for non-bumiputras, which were snapped up in two days.

“Perhaps this is because bumiputras have options such as Amanah Saham Bumiputera (ASB),'' he said.

He said non-bumiputras could also invest in the Amanah Saham Gemilang, adding that the returns were good, at more than 6%, despite the price fluctuations.

Hamad said the fact that ASW's non-bumiputra allocation received such good response indicated that non-bumiputras were more interested in fixed price equity funds.

Earlier this month, PNB launched one billion new ASW units and 800 million new Amanah Saham Malaysia (ASM) units.

Both are fixed-price equity funds open to all Malaysians aged six months and above with 51% of the ASW units for bumiputras.