The Employees Provident Fund logo is seen at its headquarters on Jalan Raja Laut January 22, 2020. — Picture by Hari Anggara
“This happened on the back of an already weak global environment characterised by extremely low oil prices and market volatility from uncertain and unpredictable geopolitical issues ongoing since 2019,” he said in a statement today. “The EPF was not spared from the impact of Covid-19 and we recorded marked declines in the performance of our investment assets.
“Hence, we are well-positioned to not only ride out the current volatility but also to take advantage of the declines in valuations of fundamentally strong assets,” he said. “EPF’s SAA allocates 54 per cent to Fixed Income Instruments, 36 per cent to equities, six per cent to real estate and infrastructure and four per cent to money market Instruments as a reflection of its long-term goals to ensure prudence and prevent overreactions to market movements,” he said.