Tabung Haji seeks to diversify but fights shy of risky assets

Malaysia’s Hajj fund Tabung Haji (TH) is looking to diversify away from Asia Pacific ex-Japan markets into global markets in order to diversify and capture higher risk-adjusted returns, says its executive director of investment Mohamad Damshal Awang Damit. In line with plans announced last year to increase foreign exposure through active external managers, the asset owner recently issued new mandates for global equities and has identified a few external managers that it will appoi…