Malaysia’s state-run pension fund will soon decide which one or two foreign insurers it will do a deal with, Employees Provident Fund CEO Datuk Shahril Ridza Ridzuan says in Bloomberg Television interview.
“Major foreign insurers have been knocking on the door of local institutional investors. EPF is engaged with multiple foreign insurers which need to sell down stakes in local unit to comply with shareholding rules,” he said on Wednesday.
Investors are relieved Malaysia’s general election has finally been called as the timing has been speculated for about a year and there’s an overhang on the market. Investors currently pricing in a victory for ruling government.
Most of EPF investments are in sectors that are not driven by political events and are cash-flow driven, including core infrastructure and some export activities
Overall, EPF shifting more money into sectors that are volatility-proof amid trade tensions globally.