Tabung Haji shifts to buy more bonds, reduce equities

Datuk Seri Zukri Samat group managing director and Ceo of Tabung Haji speaks during a briefing on the progress of Lembaga Tabung Haji's turnaround plan, seated on the right is Datuk Zaiton Mohd Hassan, chairman of risk, audit and management committee. - RAJA FAISAL HISHAN/The Star

KUALA LUMPUR: Lembaga Tabung Haji (TH) plans to shift to a more conservative asset allocation strategy by owning more bonds, while reducing its exposure to the equities market as part of its turnaround plan.

According to the pilgrim fund’s group managing director and chief executive officer Datuk Seri Zukri Samat, TH’s exposure to the equities market was previously “too high”, and that did not suit its role as a Haj management institution.