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UPDATE 1-Malaysia's Khazanah says portfolio value fell 3 pct to $32.5 bln in 2016
January 13, 2017 / 10:12 AM / a year ago

UPDATE 1-Malaysia's Khazanah says portfolio value fell 3 pct to $32.5 bln in 2016

(Adds investment details, 2017 outlook)

KUALA LUMPUR, Jan 13 (Reuters) - Malaysia’s sovereign wealth fund Khazanah Nasional Bhd on Friday said the value of its portfolio fell 3.4 percent in 2016 due to weakness in equity markets and emerging market currencies.

The state fund’s portfolio value fell to 145.1 billion ringgit ($32.53 billion) in 2016 from 150.2 billion in 2015.

“The volatile, uncertain, complex and ambiguous global business and market environment is expected to continue in 2017,” Managing Director Azman Mokhtar told reporters.

Khazanah’s investments include stakes in Malaysian mobile services provider Axiata Group Bhd, electricity utility Tenaga Nasional Bhd and lender CIMB Group . It is also the sole shareholder of national carrier Malaysia Airlines, whose turnaround is on track, it said.

The fund’s foreign investment includes stakes in China’s e-commerce giant Alibaba Group Holding Ltd.

Malaysia accounted for about 54.9 percent of Khazanah’s portfolio. The fund has been making a push recently to invest overseas, including in China.

Khazanah said it invested a total of 6.9 billion ringgit across 17 new investments last year. ($1=4.4610 ringgit) (Reporting by Liz Lee; Editing by Clarence Fernandez and Gopakumar Warrier)

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