Malaysia’s Employee Provident Fund reported a 1.8% drop in investment assets to 981.7 billion ringgit ($ 236.5 billion) in the three months ended March 31, in a context continued early retirements of employees affected by the pandemic-stricken Malaysian economy.
For the quarter, the Kuala Lumpur-based EPF reported 19.3 billion ringgit in gross investment income, which Amir Hamzah Azizan, the new CEO of the national defined contribution pension system, described in a statement. release “solid performance” in a stubbornly difficult environment.
But against those gains, early withdrawals – authorized last year in recognition of “the challenges faced by members during the pandemic” – have amounted to more than 70 billion ringgit in the past year, the statement said. hurry.
The fund’s equity weighting – at 44% of the portfolio – represented Ringgit 14.3 billion of gross investment returns, or 74% of the total, followed by fixed income, at 46% of the portfolio, at 3.9. billion ringgits or 20% of the total. gross revenue.
Money market instruments accounted for 6% of the portfolio, contributing 380 million ringgit or 2% of gross investment income. Real estate and infrastructure, meanwhile, accounted for 4% of the portfolio and 710 million gross investment income, or 4% of the total.
As of March 31, foreign assets represented 36% of the portfolio, compared to 33% at the end of 2020.