KUALA LUMPUR (November 25): Permodalan Nasional Bhd (PNB) which has a diversified investment portfolio focuses on getting the right asset allocation that delivers sustainable returns.
Its chairman and group chief executive, Ahmad Zulqarnain Onn, said that despite having to invest outside the country as well, PNB is simultaneously looking at growing domestic assets and companies with strong credentials. environmental, social and governance (ESG) to deploy capital. .
“Private Debt Securities (PDS) issues, sukuk issues… we are usually there for primary issues and it’s a new asset class for us that has been building up just over the last few years and growing. good for us.
“The driving force behind investment in PNB is strong and very well oiled across all asset classes,” he said during MIDF virtual conversations with MIDF Group Managing Director Datuk Charon Mokhzani.
Regarding ESG, he said that PNB is in the process of finalizing its own ESG framework, one presenting itself as a corporate asset manager and the other as an ESG investor, which he hopes to share with the public in early 2022.
Meanwhile, regarding overseas investments, Ahmad Zulqarnain said most of his international stock goes to Europe, while the rest is in Japan and to a lesser extent China.
“We have certain benchmarks that we track. Generally, China is not the largest component although it is a slightly larger economy than the United States (United States) today.
“In terms of weighting, it (China) is still relatively small. China has been a pretty tough market for everyone considering what has happened in China (companies) and the share movements. the low.
“But I think if you project 10 years from now, you’ll be fine. It’s an economy you can’t avoid,” he said when asked to invest in China and the market. American.
Regarding digital development, Ahmad Zulqarnain noted that as today’s world has changed and has had an impact on the interaction with financial service providers, there will be more to come on digital betting, where PNB is investing in upgrading its application, including tools to determine its goal for savings and risk tolerance.
“There will be a systematic way to determine them through a series of questions, and once that is done, you can build a portfolio that is right for you.
“We want to have more effective conversations with each of our unitholders in terms of their financial goals and how they should be saving and what type of portfolio allocation to consider,” he said.
Meanwhile, on PNB’s latest iconic Merdeka 118, the world’s second tallest tower, Ahmad Zulqarnain said PNB will hold a small ceremony next week to commemorate a certain milestone.
“The tower will be completed next year. PNB will move towards the end of next year. If all goes well, we are quite confident that we will open the offices to more than 70% occupancy.
“The mall will open a year later… this has been a challenge for the team mainly because of Covid-19, not because of the attractiveness of the project. There is a lot of interest from retailers in come but Covid-19 dissuaded them from signing the leases, ”he said.