EPF deputy chief executive officer Datuk Mohamad Nasir Ab Latif put the lower earnings mainly down to the weak performance of the Malaysian stock market. — Picture by Yusof Mat Isa
Most global equity markets, however, saw a recovery from the lows seen in Q4 2018, partly due to some indications of progress in the US-China trade talks, steadying the income contribution from international equities. “For us at the EPF, the short-term volatility gave us a chance to buy good assets to strengthen the portfolio for the long term,” said Mohamad Nasir in a statement.
During the quarter under review, Real Estate and Infrastructure, representing 4.9 per cent of total investment assets, recorded RM460 million in investment income. Investments in Money Market Instruments, which represent 5.3 per cent of total investment assets, contributed RM410 million. On the outlook for the remaining quarters of the year, Mohamad Nasir cautioned that market conditions for the rest of the year will continue to be extremely challenging and volatile.