The Employees Provident Fund's (EPF) total gross investment income for the nine months ended Sept 30, 2022 (9M2022) fell 18% year-on-year or RM8.71 billion to RM39.31 billion.
In a statement on Dec 5, the retirement fund said total gross investment income for the third quarter ended Sept 30, 2022 (3Q2022) amounted to RM12.32 billion, down RM1.65 billion or 12%, compared with RM13.97 billion for the corresponding period in 2021. However, it said this also represents an 11% improvement over 2Q2022.
EPF chief executive officer (Datuk Seri Amir Hamzah Azizan) said due to the stabilised market conditions for both equity and fixed income investments, the EPF’s 3Q2022 performance bettered the previous quarter’s gross investment income of RM11.14 billion.
Source: https://ms.wikipedia.org
The EPF said that during the quarter under review, equities contributed RM5.49 billion, accounting for 45% of total gross investment income. It said despite the heightened market volatility, the EPF managed to register a healthy quarter-on-quarter growth of 13% in gross investment income from its equities portfolio. Private equity, which is part of this asset class, managed to deliver favourable realised returns of RM1.09 billion or 20% of total equities income recorded during the quarter. This portfolio is gradually becoming more important for the EPF’s diversification efforts, as the volatility in listed equity markets remains high.
Meanwhile, the EPF said it continued to record strong growth of new member registrations at 510,354 in the period from January to September 2022, adding to the total number of EPF members as at Sept 30 of 15.61 million. Of this, a total of 8.26 million were active members, representing 50% of Malaysia’s 16.44 million labour force as at September 2022.
EPF’s key problem remains withdrawals it faced during Covid – a total of RM145 billion. That’s substantial! There seems no strategy yet on how to address this issue. It matters to EPF and that of its members on what steps could preserve one’s “egg-nest”.
Reference:
EPF’s 9M investment income falls 18% to RM39.31b, Surin Murugiah, TheEdge CEO Morning Brief, 6 December 2022
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