KUALA LUMPUR: The Employees Provident Fund (EPF) recorded an investment income of RM5.55 billion for the first quarter of this year amid firmer market conditions.
This was a 70.3% increase over the RM3.26 billion a year ago, following the recovering global economy, its chief executive officer, Tan Sri Azlan Zainol said in a statement on Monday, June 21.
"Significant improvement in the year-on-year investment performance was a reflection of a more buoyant and favourable economic environment as Malaysia steered into making a full recovery from the global economic and financial crisis," he said.
Azlan said while market conditions have improved compared to a year ago, the environment nevertheless remains volatile and we are cautious as the recovery of economies around the world is expected to take place at an uneven rate.
"This to a certain extent has had some impact on the overall performance of EPF's investment returns in Q1 this year," he said in a statement.
Azlan added that investment income for the quarter was led significantly by equities that contributed RM2.79 billion.
"Improved performance in equities was mainly driven by the rise of share prices coupled with higher trade volume spurred by encouraging domestic growth, which led to opportunities for EPF's equity managers to lock in profit," he said. - Bernama
This was a 70.3% increase over the RM3.26 billion a year ago, following the recovering global economy, its chief executive officer, Tan Sri Azlan Zainol said in a statement on Monday, June 21.
"Significant improvement in the year-on-year investment performance was a reflection of a more buoyant and favourable economic environment as Malaysia steered into making a full recovery from the global economic and financial crisis," he said.
Azlan said while market conditions have improved compared to a year ago, the environment nevertheless remains volatile and we are cautious as the recovery of economies around the world is expected to take place at an uneven rate.
"This to a certain extent has had some impact on the overall performance of EPF's investment returns in Q1 this year," he said in a statement.
Azlan added that investment income for the quarter was led significantly by equities that contributed RM2.79 billion.
"Improved performance in equities was mainly driven by the rise of share prices coupled with higher trade volume spurred by encouraging domestic growth, which led to opportunities for EPF's equity managers to lock in profit," he said. - Bernama
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