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LAUNCH OF PRIMA EKUITI (UK) LIMITED, KWAP’S SUBSIDIARY IN UNITED KINGDOM
Tuesday 01/05/2012
KUALA LUMPUR, May 1 (Bernama) --
Prima Ekuiti (UK) Limited, a subsidiary of Kumpulan Wang Persaraan (Diperbadankan) [KWAP], was launched in London yesterday.
The initiative to set up the London office for equity investment is part of KWAP’s strategy to diversify its equity portfolio abroad, with UK among its key target markets.
In his welcoming remarks, Dato’ Mohammed Azlan Hashim, Chairman of Prima Ekuiti (UK) Limited mentioned that London was chosen since it is the most active of Europe’s financial markets and is one of the world’s great financial capitals.
“Even though some investors may be apprehensive on the prospects of the UK and European markets, amid the current challenges and news of excessive sovereign debt, we see investment potential in companies with strong business models, wide geographic reach and track record of resilience and sustainable growth. Some of these companies are made even more attractive by the current relatively lower Sterling and Euro and cheap valuations that reflect more the weak investor sentiment, rather than the companies’ fundamentals,” Dato’ Mohammed Azlan said.
“That said, equity investments have associated risks and are also about timing and about medium to long term time horizons,” he added
An initial fund injection totaling GBP200 million has been earmarked for equity investment. The company will eventually move into other asset classes, such as fixed income.
Prima Ekuiti (UK) Limited’s office is located at Berkeley Square House, in the heart of the West End.
The launch was officiated by KWAP’s Chairman, Tan Sri Dr. Wan Abd Aziz bin Wan Abdullah and witnessed by Dato’ Sri Zakaria Sulong, Malaysian High Commissioner to the UK; Dato’ Mohammed Azlan Hashim, Chairman of Prima Ekuiti (UK) Limited; Dato’ Azian Mohd Noh, Chief Executive Officer of KWAP; Ms. Mushida Muhammad, Principal Officer of Prima Ekuiti (UK) Limited and respected guests from the industry.
KWAP is a pension fund established on 1st March 2007 to fund Malaysia’s public sector pension scheme. Its main activities are fund management and managing contributions received from the Government of Malaysia, statutory bodies, legal authorities and government agencies. As at 31st December 2011, KWAP’s fund size stands at RM78.93 billion.
SOURCE: Kumpulan Wang Persaraan (Diperbadankan)
FOR MORE INFORMATION PLEASE CONTACT:
Prima Ekuiti (UK) Limited
TEL : +44 020 3595 1253
FAX : +44 020 3595 1259
EMAIL : mushida.m@primaekuiti.co.uk
--BERNAMA
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