KUALA LUMPUR: As stocks on Bursa Malaysia hit new highs, Retirement Fund Inc (also known as Kumpulan Wang Persaraan Diperbadankan or KWAP), the country’s public pension fund with close to RM100bil in assets, plans to increase investment in European equities to diversify its portfolio.
Chief executive officer Wan Kamaruzaman Wan Ahmad said the fund planned to allocate 50 million euros to 100 million euros initially to buy shares of companies listed on European exchanges as it sought to capitalise on the region’s recovery from its worst recession since the eurozone was created.
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