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EPF’s 1Q investment income rises to RM15.16b

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EPF: The amount was after netting off listed equity write-downs recorded for the quarter. theSun theSundaily business economy investment EPF KWSP

: The Employees Provident Fund’s investment income rose three per cent to RM15.16 billion for the first quarter ended March 31, 2023 , from RM14.77 billion recorded in the corresponding quarter in 2022.

“Write-downs for 1Q 2023 were minimal at RM0.44 million compared to the RM1.09 billion recorded in the same quarter of 2022, attributed to active portfolio management by EPF fund managers. “Both MGS and Government Investment Issues rallied during the quarter as overall benchmark yields declined with easing inflationary expectations in the US, providing the opportunity for the EPF to capitalise on trading gains,” it said.

“The EPF’s overseas investments, which were mainly in equities, continued to outperform and added value to the EPF’s overall return as they generated RM7.04 billion in income, representing 46 per cent of the total investment income recorded,” it said. In response to the situation, he said EPF had focused its equities portfolio strategy towards resilient and fundamentally sound companies with stable dividend payout.

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