KUALA LUMPUR – Permodalan Nasional Bhd (PNB) has not seen any disruptive withdrawals by its unit holders despite the current difficult economic condition, said group chairman Tan Sri Zeti Akhtar Aziz.
“We see that withdrawal has remained fairly stable, and we are not seeing any disruptive withdrawals. We see some withdrawals from time to time, yes, but this has remained stable for us,” she said during a virtual media conference today.
PNB’s assets under management currently exceed RM300 billion worth of units in circulation, subscribed by 14.28 million accounts as of December 31, 2019.
Its portfolio covers strategic investments in Malaysia’s leading corporates, global equities, private investments, and real estate.
Echoing the former Bank Negara Malaysia governor’s views, PNB president and group chief executive Ahmad Zulqarnain Onn said the fund management group was pleased that despite the prevailing challenging situation, investing trends did not change.
“It is very heartening. That is a testament to how we do business and how people perceive us," said Ahmad.
“PNB funds are really for long-term savings and long-term investing. We don’t see any differences in the trend this year.”
When asked about plans for diversification amid current challenges, Zeti said that this would remain PNB's core intention.
“We will continue to increase our international portfolio, but this will be done very gradually and responsibly, and also cautiously given that the market before us is very volatile and unpredictable,” she said.
“We will look at the fundamental trend, the outlook of the investments concerned, the outlook of the overall industry, and sectors of that investment in the economy of any respective country. That is how we will proceed.” – Bernama, November 19, 2020
