Malaysia $1.68 Billion Sarawak Sovereign Wealth Future Fund Appoints 3 Members to Investment Advisory Panel with 1) Ex-Malaysia Sovereign Wealth Fund Khazanah Nasional & Malaysia Employees Provident Fund (EPF) CEO Tan Sri Shahril Ridza Ridzuan as Chairman, 2) ex-Norway Sovereign Wealth Fund NBIM CEO Knut Norheim Kjær as Member & 3) ex-BlackRock Head of Factors, Sustainable & Solutions and BlackRock Retirement Solutions Senior Advisor Andrew Ang as Member
23rd September | Hong Kong
Malaysia Sarawak Sovereign Wealth Future Fund ($1.68 billion / MYR 8 billion AUM) has appointed 3 members to the Investment Advisory Panel with appointment of 1) ex-Malaysia sovereign wealth fund Khazanah Nasional & Malaysia Employees Provident Fund (EPF) CEO Tan Sri Shahril Ridza Ridzuan as Chairman, 2) ex-Norway sovereign wealth fund NBIM CEO Knut Norheim Kjær as member & 3) ex-BlackRock Head of Factors, Sustainable & Solutions and BlackRock Retirement Solutions Senior Advisor Andrew Ang as member (See below for profile). In 2025 April, Sarawak Sovereign Wealth Future Fund announced to start deploying capital in 2025. In 2024 March, Malaysia Sarawak state Sovereign Wealth Future Fund hired CLSA Securities Malaysia Head of Investment Banking Rahmat Yusuf as CEO. Prior to CLSA Securities, Rahmat Yusuf was the former Director of Investments at Malaysia Sovereign Wealth Fund Khazanah Nasional. In 2023, Malaysia Sarawak state new sovereign wealth fund (Sovereign Wealth Future Fund) was seeded with $1.68 billion (MYR 8 billion) by the state for long-term growth. The $1.68 billion fund will operate independently from Sarawak state government and the fund will only be used in emergencies. Sarawak Sovereign Wealth Future Fund Board – Sarawak, located on the island of Borneo, is Malaysia’s largest state. Natural resource endowments have long shaped the history of Sarawak and the way in which it has built its economy. Sarawak’s revenue is largely derived from commodity-based sources, which are finite in nature. To convert non-renewable assets into enduring financial assets, the Sarawak Sovereign Wealth Future Fund Board was established to safeguard and invest the State’s funds for the future generations of Sarawak. On 22 November 2022, the Sarawak Sovereign Wealth Future Fund Board Ordinance 2022 was passed by the Dewan Undangan Negeri. The Fund is managed by a Board of Guardians, comprising experts and professionals in the fields of finance, investments, legal, and governance. Appropriations to the Fund in each financial year are procured from the State Consolidated Fund upon authorisation by way of resolution passed by the Dewan Undangan Negeri. As a global long-term investor, the Fund’s priority is to achieve optimal risk-adjusted returns for the benefit of the future. The Fund will focus on capital preservation in the initial years, with a more growth-oriented target thereafter. Therefore, the Fund’s returns will be continuously reinvested to ensure effective compounding over the Fund’s investment horizon.
“ Malaysia $1.68 Billion Sarawak Sovereign Wealth Future Fund Appoints 3 Members to Investment Advisory Panel with 1) Ex-Malaysia Sovereign Wealth Fund Khazanah Nasional & Malaysia Employees Provident Fund (EPF) CEO Tan Sri Shahril Ridza Ridzuan as Chairman, 2) ex-Norway Sovereign Wealth Fund NBIM CEO Knut Norheim Kjær as Member & 3) ex-BlackRock Head of Factors, Sustainable & Solutions and BlackRock Retirement Solutions Senior Advisor Andrew Ang as Member “
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Tan Sri Shahril Ridza Ridzuan – Tan Sri Shahril was the Managing Director of Khazanah Nasional Berhad from 2018 to 2021 where he was responsible in upholding the mandate of growing the nation’s long-term wealth via distinct commercial and strategic objectives. Prior to Khazanah, he was the Chief Executive Officer of Employees Provident Fund. During his tenure at EPF, he also served as a Non-Executive Board Member of Media Prima Berhad, Malaysia Building Society Berhad, Malaysian Resources Corporation Berhad and IJN Holdings Sdn Bhd. He is currently the Chairman of Axiata Group Berhad and Ekuiti Nasional Berhad. He also sits on the board of CGS International Securities Malaysia Sdn Bhd, Kuala Lumpur Kepong Berhad, and Standard Chartered Bank Malaysia Berhad. Tan Sri Shahril holds a Master of Arts (First Class) from Cambridge University and Bachelor of Civil Law (First Class) from Oxford University.
Knut Norheim Kjær – In 1998, Mr. Kjær was appointed founding Chief Executive Officer of NBIM, which was established by the Norwegian government to manage its sovereign wealth fund, and foreign exchange reserves. In 2008, Mr. Kjær was appointed a Knight Class 1 of the Royal Order of St. Olav by His Majesty King Harald of Norway for his management of the Norwegian sovereign wealth fund, his contribution to the Norwegian economy and the future financing of its pensions. Currently, he is the Executive Chairman of Sector Asset Management and a Professor II in Finance & Sustainability at the Norwegian University of Life Sciences. Additionally, he chairs the Supervisory board of APG Asset Management, an asset manager owned by the largest pension fund in Europe (ABP), is a member of the Investment and Risk Advisory Panel of the Monetary Authority of Singapore, the Advisory Investment Committee of the Central Bank of Thailand, and the Investment Committee of the newly established Irish Sovereign Wealth Fund. Kjær holds a master’s degree in economics and a degree in political science from the University of Oslo. He attended the Advanced Management Program at Harvard Business School.
Andrew Ang – Dr. Ang was the Managing Director and Head of Factors, Sustainable and Solutions (FS2 or FS-Squared) at BlackRock. During his tenure at BlackRock, he was also Senior Adviser to BlackRock Retirement Solutions. Prior to joining BlackRock in 2015, he was the Ann F. Kaplan Professor of Business at Columbia Business School. He was previously Chair of the Finance and Economics Division and a Faculty Research Fellow of the National Bureau of Economic Research, a private, nonprofit research organisation. Dr. Ang is an author of over 100 publications which span topics such as sustainable investing, equities, fixed income, optimal asset allocation, and alternative assets. His book, Asset Management: A Systematic Approach to Factor Investing, has been translated into Chinese, Japanese, Korean, and Spanish. Dr. Ang earned a BEc(Hons) from Macquarie University, and a PhD in finance and MS in statistics from Stanford University. He is a member of the Advisory Council of the Financial Analysts Journal.
Malaysia $1.68 Billion Sarawak State Sovereign Wealth Future Fund to Start Deploying Capital in 2025, Hired CLSA Securities Malaysia Head of Investment Banking Rahmat Yusuf as CEO Who is ex-Director of Investments at Malaysia Sovereign Wealth Fund Khazanah Nasional
24th April 2025 – Malaysia Sarawak State Sovereign Wealth Future Fund ($1.68 billion / MYR 8 billion AUM) will start deploying capital in 2025. In 2024 March, Malaysia Sarawak state Sovereign Wealth Future Fund hired CLSA Securities Malaysia Head of Investment Banking Rahmat Yusuf as CEO. Prior to CLSA Securities, Rahmat Yusuf was the former Director of Investments at Malaysia Sovereign Wealth Fund Khazanah Nasional. In 2023, Malaysia Sarawak state new sovereign wealth fund (Sovereign Wealth Future Fund) is seeded with $1.68 billion (MYR 8 billion) by the state for long-term growth. The $1.68 billion fund will operate independently from Sarawak state government and the fund will only be used in emergencies.
Malaysia $1.68 Billion Sarawak State Sovereign Wealth Future Fund Hires CLSA Securities Malaysia Head of Investment Banking Rahmat Yusuf as CEO, Former Director of Investments at Malaysia Sovereign Wealth Fund Khazanah Nasional
14th March 2024 – Malaysia Sarawak state new sovereign wealth fund (Sovereign Wealth Future Fund) seeded with $1.68 billion (MYR 8 billion) has hired CLSA Securities Malaysia Head of Investment Banking Rahmat Yusuf as CEO. Prior to CLSA Securities, Rahmat Yusuf was the former Director of Investments at Malaysia Sovereign Wealth Fund Khazanah Nasional. Sarawak Sovereign Wealth Future Fund (invest for long-term growth) operates independently from Sarawak state government and the fund will only be used in emergencies.
Malaysia Sarawak State New Sovereign Wealth Fund Seeded with $1.68 Billion for Long-Term Growth, Fund Will Operate Independently & Funds to be Used Only in Emergencies
2nd November 2023 – Malaysia Sarawak state new sovereign wealth fund (Sovereign Wealth Future Fund) is seeded with $1.68 billion (MYR 8 billion) by the state for long-term growth. The $1.68 billion fund will operate independently from Sarawak state government and the fund will only be used in emergencies.
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