Global Fund Managers Show Keen Interest In Malaysia's Stock Market

KUALA LUMPUR, May 18 (Bernama) -- Global fund managers are showing interest in capital market opportunities in Malaysia, as reflected by the overwhelming demand received during the Invest Malaysia 2016 London (IM2016 London). Bursa Malaysia Bhd Chief Executive Officer Tajuddin Atan, said the event was the largest gathering of UK-based fund managers to meet the Prime Minister, Najib Razak. "Clearly, the fund managers, who are always looking for investment opportunities, were interested in the growth story of both Malaysia and ASEAN. "Some areas discussed included programmes for productivity and upskilling of talent to support and deliver targeted long-term growth, as well as the need to nurture entrepreneurship and small and medium enterprises as a key driver," he said in a joint statement on Tuesday with Maybank Kim Eng. Themed,"Malaysia: Sustainable at The Core", IM2016 London provided a platform for global fund managers to meet with the Prime Minister, policy makers, and public listed companies. The event, organised by Bursa Malaysia and Maybank Kim Eng, engaged UK-based fund managers, who represented total assets under management of over US$7 trillion, all with emerging markets and/or Asia mandates. Najib led an open dialogue with the fund managers in putting the facts on the table and providing first hand insights into the government's developmental plans and opportunities within Malaysia's resilient economy and capital market. The exclusive and private meeting was attended by 28 fund managers, representing 25 global fund management firms. Maybank Group Head, Global Banking, Feisal Wan Zahir said that there had been foreign inflows into the region's equity markets since early this year, and Malaysia was one of the key beneficiaries. "Despite the strong headwinds in the markets globally, we have been seeing steady foreign interest returning to Malaysia. "Many of the fund managers are 'underweight' on Malaysia. Therefore, we are very encouraged by the conversation with the UK fund managers today. Many showed keen interest and we hope this will continue to sustain the inflow into the country," he added. From January to end-April this year, there was a total net buy of US$1.49 billion (RM6 billion) and the foreign shareholding in the market has gone up to 23 per cent. Maybank is Malaysia's largest financial services group and the leading banking group in South East Asia. --BERNAMA