Malaysian pension fund Kumpulan Wang Persaraan (KWAP) is aiming to launch its new RM6 billion (US$1.27 billion) Dana Pemacu (Booster Fund) around September 2024, once it reviews investment proposals from major global asset managers.
The current plan is to create 12 sub-funds in total — with four each in the private equity, infrastructure and real estate asset classes. These will be managed by local asset managers in cooperation with the foreign partners as a form of knowledge and expertise transfer.
Dana Pemacu was announced by Prime Minister Anwar Ibrahim at the Global Forum of Islamic Economics and Finance held over two days in the Malaysian capital Kuala Lumpur.
While all 12 sub-funds will be Malaysia-focused, with the bulk of investments being domestic, KWAP said it also has the flexibility to look outside Malaysia for investment opportunities.
Over 40 proposals have been received so far for Dana Pemacu, Bernama reported Chief Investment Officer Hazman Hilmi as saying.
Dana Pemacu will be invested via conventional and Shariah compliant sub-funds, with half dedicated to Islamic investments. The investments will be made in key economic sectors — including food security, education, silver economy, healthcare, energy transition, digital economy, financial inclusion and other critical impact on the socioeconomic front.
The launch of Dana Pemacu is in line with the broader reform by the government to optimize institutional funds held by government-linked investment companies — to spur investments into local firms with high growth potential, said Finance Minister II Amir Hamzah Azizan.
