Malaysia’s Permodalan Nasional has promised a structured fund launch within the next couple of months. Chief executive Tan Sri Hamad Kama Piah Che Othman was not prepared to divulge either details or likely size before receiving regulatory approval, though an international theme may be guessed from the bank’s recently-expressed interest in increasing overseas investments.According to Hamad, PNB has MYR$76bn ($24.06bn) under management from almost nine million unit holders.
PNB was incorporated in 1978 as a pivotal instrument of the Government's New Economic Policy to promote share ownership among the Bumiputra (ethnic Malays and other indigenous groups) and to develop opportunities for Bumiputra professionals to participate in the creation and management of wealth.
