Malaysia's largest fund manager, Permodalan Nasional Bhd (PNB), wants to diversify away from developed markets and plans a big increase in its global exposure in the next three years but in other Asian countries, not developed markets.

President and group chief executive Jalil Rasheed said in a virtual media briefing today that PNB was benefiting from investment in real estate segments like logistics and warehouse assets, which are seeing a boom from e-commerce, given new Covid-19 lockdowns in many countries.