The Employees' Provident Fund (EPF) reported a 34% jump in its investment income for Q3 2024, reaching RM19.7 billion compared to RM14.67 billion in Q3 2023.
This increase adds up to a total revenue of RM57.57 billion from January to September 2024, up 20% from RM47.86 billion in the same period last year.
Chief Executive Officer Ahmad Zulqarnain Onn described this growth as based on EPF's balanced investment strategy, which focuses on various types of assets.
The strong 5.9% growth of the Malaysian economy in Q2 and the drop in interest rates in the United States (US) had a positive impact on EPF holdings, especially in sectors such as real estate, utilities and finance.
However, he warned that global uncertainties, such as geopolitical tensions and potential US tariff changes, remain risks.
Equity investments made up the majority of EPF's income at RM18.32 billion, more than double from last year.
Fixed income assets provided stability, contributing RM6.51 billion. Real estate investments also saw gains, although currency fluctuations affected returns.
As of September, the EPF managed RM1.22 trillion in assets, with international investments providing 53% of Q3 income. Membership rose to 16.1 million, with an increase in voluntary contributors and new employers joining.
