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18 September 2012| last updated at 05:43PM

EPF's Q2 income rose to RM7.66 billion



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KUALA LUMPUR: The Employees Provident Fund's (EPF) investment income rose 13.42 per cent to RM7.66 billion for the second quarter (Q2) ended June 30, 2012 compared with the same period last year.

 

It said equities remained the largest contributor, posting an investment income of RM3.84 billion for the quarter under review, up 17.4 per cent compared with RM3.27 billion in the Q2 last year.
 
"Loans and bonds generated RM2.06 billion investment income for Q2 2012, up RM272.32 million from RM1.79 billion in the same quarter last year.
 
"During the same quarter, the fund also allocated RM1.5 billion to external fund managers for domestic equities mandate and RM600 million for domestic fixed income mandate," it said in a statement.
 
Chief Executive Officer Tan Sri Azlan Zainol said the healthy earnings recorded in the Q2 this year were backed by strong performance from its investment in equities despite uncertainties in the global economy. 
 
"The outsourcing of the new mandates is in line with our diversification strategy adopted for EPF’s investment and formed part of our contribution to boost the development of the local fund management industry," Azlan said.
 
As at June 30, EPF’s investment asset stood at RM494.75 billion, an increase of RM32.53 billion from RM462.22 billion recorded in the same period last year.
 
Total contributions received for the period under review amounted to RM12.42 billion compared with RM8.96 billion of total withdrawals, resulting in RM3.46 billion net inflow of funds.
 
Meanwhile, EPF has also been named the Best Islamic Institutional Investor in the Islamic Finance News Islamic Investor Poll 2012, attesting to the fund’s contribution to the growth of the Islamic finance industry. Bernama
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