How Indonesia’s hajj pilgrim fund will shift 6% of its assets

Indonesia’s hajj pilgrims fund has $583 million to invest, and not a lot of time to do it. By December, the fund needs to put 6% of its assets into sukuk, real assets, fund investments or gold. Under regulations in force since February 2018, the IDR142.2 trillion ($9.72 billion) Hajj Pilgrims Sovereign Fund (known as Badan Pengelola Keuangan Haji) had three years to reduce the portion of total assets in deposits or placements with domestic banks from 100% to 30%. It has so far red…