Kwap to go fully sharia, may cut return target

Malaysia's RM120 billion ($30 billion) civil servants’ pension fund, Kwap, has begun a shift towards running its entire investment portfolio on a sharia-compliant basis, AsianInvestor has learned. Meanwhile, like other institutional investors, it is growing increasingly concerned about its ability to achieve its performance targets.   Kwap's shift towards sharia compliance is consistent with the Malaysian government’s intention for the country to become the leading hub for Islamic…