Khazanah Nasional Berhad: Portfolio Reset and Resilience in a Coordinated Investment State

10th February, 2026
Malaysian sovereign wealth fund Khazanah’s 2025 performance indicates a settling down to the historical norm following an exceptional 2024 with its portfolio increasingly aligned with Malaysia’s broader state-capital framework.A 5.2% return in 2025, net assets of MYR105 billion (US$23 billion), and a seven-year rolling annualised return of 6.1% indicate it...
Malaysian sovereign wealth fund Khazanah’s 2025 performance indicates a settling down to the historical norm following an exceptional 2024 with its portfolio increasingly aligned with Malaysia’s broader state-capital framework.A 5.2% return in 2025, net assets of MYR105 billion (US$23 billion), and a seven-year rolling annualised return of 6.1% indicate it...

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