X Close


Thursday April 10, 2008

PNB targets 10% growth in fund size this year

KUALA LUMPUR: Permodalan Nasional Bhd (PNB) is targeting at least 10% growth in its fund size this year, president and group chief executive Tan Sri Hamad Kama Piah Che Othman said.

“We are bigger in size now and expect lower growth,” he told a press conference after a luncheon in conjunction with PNB's Minggu Saham Amanah Malaysia (MSAM) 2008 yesterday.

“But if we can achieve roughly 10% growth every year, it is already good enough for us,” he added.

Hamad said PNB would achieve its growth target by launching more products comprising unit trusts, structured funds and real estate investment trusts.

The products would be targeted at all Malaysians and not just bumiputras, he said.

PNB's funds had been achieving annual growth of at least 20% over the past 30 years, Hamad said, adding that it currently managed more than RM120bil worth of funds, of which RM76bil was in unit trust funds.

On the group's overseas investments, he said PNB was aiming to invest 10% of its portfolio overseas compared with less than 5% currently and was also looking to manage its own funds overseas.

“Our overseas funds have so far been managed by international fund managers. Right now, we are looking to manage our own funds and we are exploring opportunities for joint-venture partners,” he added.

On the volatility of the stock market and how it would affect the group's funds, Hamad said: “Of course, any market downturn will have some effect but we do not see any significant impact.

“We are long-term players. When the market is down, it only opens up opportunities for us to invest more.”


  1. Malaysian passport 9th best in the world
  2. Japanese oil tanker robbed, three crew believed kidnapped in dramatic dawn raid
  3. KL set to be in 'security lockdown'
  4. Wanted: A rational water plan
  5. 'Godfather' believed to have killed 13-year-old boy
  6. Every kind of success in life depends on our virtues as a person
  7. Brave boy comforts family
  8. College staff turn to loan sharks after salaries unpaid for four months
  9. David Moyes parts ways with Manchester United, Ryan Giggs temporarily takes charge
  10. Selangor MB Khalid: Can't stop water rationing yet, but will review next week