News ID: 281133
Published: 1054 GMT February 27, 2021

Malaysian pension fund EPF assets grow to value of $252b in 2020

Malaysian pension fund EPF assets grow to value of $252b in 2020
devdiscourse.com

Malaysia’s Employees Provident Fund (EPF) saw its investment assets grew 7.9% from a year earlier to a market value of 1.02 trillion ringgit ($252b) at the end of 2020, the fund said on Saturday.

At that growth rate, assets under management grew to 998b ringgit, said the 70-year-old government-linked pension fund, Reuters reported.

In a statement, the fund said it achieved a record gross investment income of 60.98b ringgit, despite market volatility last year.

The fund said equities remain its main driver of returns while fixed income assets provided stability.

Equities, particularly foreign stocks, brought in 28.71b ringgit while fixed income instruments provided 25.42b ringgit.

“While leading stock indices lost as much as 40% in the first quarter, the EPF took the opportunity to rebalance its portfolio by acquiring shares that were fundamentally strong at attractive prices,” it said.

Recovery in global and domestic markets in the second half contributed significantly to the EPF’s investment portfolios, offering opportunities to take profits, particularly in the fourth quarter, it said.

But the fund said it took prudent measures to write down 7.71b ringgit of its listed equity portfolio to maintain health of its long-term investments.

Taking into account the write-down, the fund achieved a net 5.26% return on investment.

Thirty-three percent of the EPF’s investments across all asset classes were overseas as of December.

 

 

   
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