KWAP to invest in U.S. market

Kumpulan Wang Persaraan (KWAP), the second-largest pension fund in Malaysia with RM125 billion ($31.72 billion) of assets under management, has plans to invest in the U.S. market.

“We have received board approval and have a mandate to invest in the U.S., especially in the technology and real estate sectors,” said Datuk Wan Kamaruzaman Wan Ahmad, KWAP’s chief executive, in a statement reported in the New Straits Times. “We’re not in a hurry. We’re selective in our investment as the U.S. tax structure is quite complicated.”

During the fourth quarter 2017, KWAP created the KWAP Real Estate Sdn Bhd (KWEST), which will serve as its prime investment platform for opportunities and investments in property development projects.

The pension fund has approximately 13 percent invested internationally, with exposure in 31 countries, specifically in the United Kingdom and Australia.

KWAP is seeking to expand its assets under management to RM150 billion ($38 billion) by year-end from RM140.80 billion ($35.72 billion) at year-end 2017.