Weekly digest: China urges state-backed funds to buy local equities; Malaysia's SWF looks to developed markets
China directs billions of dollars of insurance money into stocks; Malaysia’s sovereign wealth fund Khazanah Nasional is rebalancing its portfolio to invest more in developed markets; Korean scientists and engineers fund opens tender for foreign CLO mandate; and more.
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China announced plans to channel hundreds of billions of yuan annually into shares from state-owned insurers in a bid to bolster its domestic stock markets.
State-owned and commercial insurers are encouraged to invest 30 percent of new annual premiums in A-shares. Mutual funds are also encouraged to increase their A-share holdings' tradable market value by at least 10 percent annually over the next three years.
Source: Bloomberg
Malaysia’s sovereign wealth fund Khazanah Nasional is rebalancing its portfolio to invest more in developed markets, with an eye on managing expected risks from the new Donald Trump presidency in the US, according to its managing director Amirul Feisal Wan Zahir.
The potential for less regulation, lower taxes, cheap energy, inflationary pressures and a strong dollar, due to US President Donald Trump administration’s expected policies, provided opportunities to invest in developed markets, Amirul Feisal told the Reuters Global Markets Forum.
Source: Reuters
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