The Employees Provident Fund logo is seen at its headquarters on Jalan Raja Laut January 22, 2020. — Picture by Hari Anggara
Major economies had gone into lockdown and the closed borders meant that supply chains were disrupted, causing slowdowns in many sectors and industries, he said. Its SAA allocates 51 per cent to fixed income instruments, 36 per cent to equities, 10 per cent to real estate and infrastructure, and three per cent to money market instruments as a framework to optimise its long-term returns within tolerable risk limits.
“The overseas income was driven by a recovery across global equity markets in the second quarter, allowed the EPF to ride out the slump during the first quarter of the year. Fixed income also contributed higher gains due to the low yield environment, which provided more opportunity for the fund to realise its gains,” it said.
During the movement control order period, the fund extended a series of emergency relief measures to help ease the financial burden faced by both members and employers.
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