Malaysia's sovereign wealth fund Khazanah Nasional is rebalancing its investment portfolio for greater resilience against market volatility, according to its managing director. Khazanah's net asset value declined 5% to 81 billion ringgit ($17.4 billion) in 2022 from a year ago, hit by global market downtrends, the fund said in March. The Kuala Lumpur-based fund invests more than half of its portfolio in public markets. "Looking at the volatility in the market, we are still in the process of rebalancing our portfolio," he added. Khazanah posted a 1.6 billion ringgit ($343 million) net profit in 2022 — more than doubling its net profit from the year before and a fourth-straight annual net profit after an unprecedented plunge in 2018.

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Persons: Amirul Feisal Wan Zahir, Khazanah Organizations: CNBC, Energy Asia Locations: Khazanah Nasional, Kuala Lumpur