The financial crisis struck as many of the state-owned portfolio companies held by Khazanah Nasional Berdad, Malaysia’s $23 billion (RM82 billion) sovereign wealth fund (SWF), were learning to operate with new executive leaders and, crucially, less gearing. Simon Mumme charts the progress of the manager’s attempts to strengthen and diversify the Malaysian economy throughout the crisis and beyond.
The financial crisis has challenged pension funds to rethink standard asset allocation models, but as Jonathan Armitage, head of US equities at Schroders observes, a lot of investors are questioning whether they need to react.
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