Thursday, December 15, 2011

EPF 3Q investment income at RM6.8b, up 18.3% on-year

KUALA LUMPUR (Dec 15): The Employees Provident Fund's (EPF) investment income rose 18.3% to RM6.80 billion from RM5.75 billion a year ago, underpinned by commendable returns from equity investments.

The EPF said on Thursday that when compared with the second quarter, the investment income rose 0.78% or RM52.39 million from the RM6.749 billion.

EPF chief executive officer Tan Sri Azlan Zainol said combined with steady stream of net contribution by members, EPF's investment asset continued to register healthy growth to RM452.05 billion, compared to RM440.52 billion as at end of 2010l."

'The third quarter results were slightly ahead of our expectations. 3Q 2011 saw both domestic and global markets under heavy selling pressure, following the downgrade of the US credit rating from AAA to AA+ by Standard & Poor's and the contagion of the Euro zone debt crisis. However, our portfolios remain healthy and our resilient asset quality helps to reduce the impact from short term volatility,' he added.

During the quarter under review, Equities remains as the top performer drawing an investment income of RM3.26 billion, representing a double-digit rise of 36.47% or RM871.75 million from RM2.39 billion in 3Q 2010.

Loans and Bonds is the second largest contributor to EPF's investment income, generating RM1.93 billion for 3Q (up 11.29% from RM1.73 billion in 3Q, 2010).

Income from Malaysian Government Securities showed a steady growth of 5.67% to RM1.47 billion (RM1.40 billion in 3Q 2010).

In 3Q 2011, returns from Property grew by 23.36% to RM28.20 million (from RM22.86 million in 3Q 2010).

Money Market Instruments recorded RM109.97 million in income during 3Q 2011, down RM98.71 million from a year ago. This was mainly due to shift in allocation into higher yielding and long term assets to optimize the returns, namely into global property, global equity and global sukuk investments.

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