Moving forward, EPF CEO Datuk Seri Amir Hamzah said it is essential for the retirement fund to consider the broader market dynamics in order to comprehensively improve its prospects of providing a consistent dividend to its members.
During the quarter, the EPF's overall investment assets grew to RM1.04 trillion, of which overseas investments accounted for 37% of the total assets.
"The EPF remains dedicated to supporting and contributing to the growth of home economy, by continuing to allocate more than 70% of its new investment annual allocation to the domestic market," it said in a statement. The EPF said both MGS and Government Investment Issues rallied during the quarter as overall benchmark yields declined with easing inflationary expectations in the US, providing opportunity for the EPF to capitalise on trading gains.Similarly, income from money market instruments rose to RM490mil, from RM280mil in 1Q22, in line with the return expectations set for these asset classes.
Amir said although Malaysia’s economy is projected by Bank Negara to grow at a slower rate of 4% to 5%, lower than the 8.7% registered in 2022, the EPF is not tempering its expectations as it believes there are performing sectors that the fund can capitalise on. On membership, the EPF said there were 116,423 new member registrations, bringing the total number of members to 15.79 million.
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