Tabung Haji plans to expand global equity mandates

Malaysia’s hajj pilgrims fund, the RM75 billion ($17.9 billion) Lembaga Tabung Haji, is actively seeking global equity mandates as part of a shift in asset allocation that would result in a sizeable allocation to the sector, all through active managers, in the coming months. The new mandates all of which will be to global equities managers, will include European and North American allocations. The fund will also increase its domestic allocations but declined to give details of how…