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EPF 1H investment income up 25% to RM34.05b

KUALA LUMPUR: The Employees Provident Fund (EPF) recorded RM34.05bil of total investment income for the first half of the year ended June 30, 2021.

In a statement on Friday, it said this was increase of RM6.79bil, or 25%, compared with RM27.26bil a year ago.

Total gross investment income for the second quarter (2Q 2021) was RM14.77bil, or RM0.35bil lower than RM15.12bil a year ago.

Equities continued to be the main contributor of income for 2Q 2021 at RM7.89bil, accounting for 53% of total gross investment income.

"As part of its internal policy to ensure a healthy portfolio, the EPF has adopted cost write- downs on listed equities. In Q2 2021, RM0.21bil was written down for listed equities, compared to RM1.66bil in the same quarter in 2020 following the continued recoveryacross global markets.

"After netting off these write-downs, a total of RM14.56bi of investment income was recorded in 2Q 20211, 8% higher than the RM13.46bil recorded in 2Q 2020," it said.

EPF Chief Executive Officer Datuk Seri Amir Hamzah Azizan said, “The EPF delivered a resilient performance in 1H 2021 driven by the progressive recovery of the equity markets and most asset classes amid the global rebound."

https://www.thestar.com.my/business/business-news/2021/09/24/epf-1h-investment-income-up-25-to-rm3405b

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