PNB starts factor investing and eyes private credit
The Malaysian state-linked unit trust manager has given factor-based global equity mandates to three fund houses and is mulling investing into new types of illiquid assets, say sources.
Malaysia's Permodalan Nasional Berhad (PNB) awarded its first factor-based investment mandate in the second quarter of this year, and it may start out as large as $240 million once it has been funded. The state-linked fund manager is also mulling moves into private credit and foreign infrastructure as it strives to build a more diverse and international asset portfolio, well-placed sources have told AsianInvestor.
PNB, which has RM312 billion ($75 billion) under management, picked…
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