Nomura Adopts Cautious Optimism on Equity Markets, Strengthens Focus on Global Growth Themes
KUALA LUMPUR — Nomura Asset Management Malaysia Sdn. Bhd. is maintaining a cautiously optimistic outlook on equity markets amid ongoing global volatility and geopolitical uncertainties.
The company’s Director, Atsushi Ichii, said market fluctuations are currently driven by political tensions, shifting economic policies and global uncertainties, although economic fundamentals remain a key driver of long-term returns.
He noted that disciplined investors who are able to adapt quickly to changing conditions still have opportunities to generate sustainable returns.
“Market conditions remain challenging, but flexible strategies and strong fundamentals continue to offer attractive investment opportunities over the medium and long term,” he said after the launch of Nomura’s Global Multi-Theme Equity Fund (GMT).
Ichii added that the strengthening of the ringgit reflects growing investor confidence in Malaysia’s economic stability.
“Currency performance often mirrors economic sentiment. In Malaysia’s case, the stronger ringgit indicates resilience and confidence in the country’s economic outlook,” he explained.
On investment strategy, Ichii said Nomura is currently prioritising overseas markets, particularly sectors and themes with strong long-term structural growth potential.
Exposure to domestic equities remains limited for now, as the firm entered the segment later than some competitors, although expansion plans are underway.
“At this stage, our focus is on global markets, but we are gradually preparing to expand our domestic offerings,” he said.
In terms of risk management, he highlighted that most of Nomura’s funds are denominated in ringgit, helping to mitigate the impact of foreign exchange volatility on portfolio performance.
“This provides stability, especially for Malaysia-based investors, in an increasingly unpredictable global environment,” he added.
Meanwhile, Nomura introduced the Global Multi-Theme Fund, which provides diversified exposure to major global growth trends, including technology, healthcare, renewable energy and digital transformation.
The fund targets long-term capital appreciation through investments in Nomura Funds Ireland — GMT.
Senior Portfolio Manager Rika Naito said the fund’s investment themes are regularly reviewed to ensure continued relevance.
“We review our themes every three to five years. Since 2024, several adjustments have been made to enhance diversification and flexibility,” she said.
She added that the fund has demonstrated balanced performance in both rising and declining markets, helping investors manage downside risks while capturing growth opportunities.
Overall, Nomura believes that a disciplined, diversified and long-term investment approach remains essential for navigating global market volatility and delivering sustainable returns.
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