Wednesday, December 28, 2016

EPF Quarterly Income Increased

The Employees Provident Fund (EPF) announced its investment portfolio ended the third quarter at RM712.5 billion netting an income of 12.32 billion ringgit up 46% from three months earlier and up 29% from the same quarter the previous year. 
Shahril Ridza Ridzuan, Chief Executive Officer in the news release said, “Our overseas investment continued to enhance our returns during to the quarter while non-cash impairment also recorded a significant reduction in last year.” 

The improvement in equity prices in North Asia and other developed market countries have attributed to the increased assets as at September 30th 2016 comparatively up RM9.54 billion from the corresponding same quarter last year and outperformed the RM684.5 billion as at December 31st, 2015. 

Shahril however remains cautious to a continued performance and challenging, following the ringgit devaluation against the dollar with the uncertainties of regional and global market. The ringgit's decline will provide foreign exchange-related gains on the EPF's overseas holdings but it will raise the cost of further investments abroad.