KWAP to focus on local market, help economic growth
Published on: Friday, March 27, 2015
Kuala Lumpur: The Retirement Fund Incorporated (KWAP) which has a fund size value of RM112 billion, aims to expand its investments in the domestic equity, property and fixed income markets. By year-end, KWAP expects to grow its fund size to RM120 billion.Chief Executive Officer Wan Kamaruzaman Wan Ahmad said the focus is in line with the government's recommendation that KWAP should continue to support the nation's economic growth, given the challenging global economic environment.
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"We seek to maximise our long-term adjusted total returns to enhance the real value of the fund, and target to achieve a nominal risk adjusted return of 6.8 per cent per year over a 10-year rolling period," he said in his keynote address at the 2nd Conference on Islamic Wealth Management and Financial Planning here Thursday.The one-day conference was organised by the Malaysian Financial Planning Council (MFPC) and KWAP.Wan Kamaruzaman added KWAP would also be focusing on Islamic Finance services and has been embarking on a project to set up a shariah-compliant fund in all asset classes.Currently 71 per cent of its investments in the equity market are shariah-compliant, including bonds and sukuk. – Bernama
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He added as of February this year, 24 per cent of KWAP's investment funds are shariah-compliant. – BernamaWan Kamaruzaman said KWAP would soon be announcing a real estate deal to acquire a building worth over RM1 billion in the the Klang Valley.
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