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,EPF CEO Datuk Seri Amir Hamzah Azizan said: “The resilient performance in H1’21 was driven by the progressive recovery of the equity markets and most asset classes amid the global rebound.

KUALA LUMPUR:: The Employees Provident Fund (EPF) recorded RM34.05bil of total investment income for the first half of the year ended June 30, 2021 (H121), an increase of RM6.79bil, or 25%, compared with RM27.26bil in the corresponding period in 2020.

Total gross investment income for the second quarter (Q2’21) was RM14.77bil, RM0.35bil lower than RM15.12bil recorded in the same quarter last year.

Equities continued to be the main contributor of income for Q2’21 at RM7.89bil, accounting for 53% of total gross investment income.

As part of its internal policy to ensure a healthy portfolio, the EPF has adopted cost write downs on listed equities. In Q2’21, RM0.21bil was written down for listed equities, compared with RM1.66bil in the same quarter in 2020 following the continued recovery across global markets.

After netting off these write-downs, a total of RM14.56bil of investment income was recorded in Q2’21, 8% higher than the RM13.46bil recorded in Q220.

EPF CEO Datuk Seri Amir Hamzah Azizan said: “The resilient performance in H1’21 was driven by the progressive recovery of the equity markets and most asset classes amid the global rebound.

“The accelerating rollout of Covid-19 vaccines and the reopening of economies had supported a stronger performance for equities in the developed markets.EPF building

“However, equities in the emerging markets were more muted, due to the resurgence of the pandemic in South-East Asian countries and tighter regulations imposed by China authorities on several sectors that had triggered a sharp decline in stock prices.”

Fixed income instruments continued to contribute a stable income of RM5.28bil, or 36%, to the gross investment income in Q2’21. This was lower compared to the RM6.17bil in Q2’20 due to lower trading gains.

Real estate and infrastructure, and money market instruments, meanwhile, recorded RM1.40bil and RM0.20bil respectively.

The EPF’s diversification into different asset classes, markets and currencies continued to provide income stability and added value to its overall return.

As at the end June, investment assets stood at RM989.14bil, of which 37% was invested overseas. In Q2’21, overseas investments generated an income of RM8.71bil, 59% of the total gross investment income recorded.

To assist members affected by the pandemic, the EPF launched the i-Sinar and i-Citra facilities which were intended to provide some financial relief. To date, this has involved the disbursement of a total of RM67.6bil.

For the remaining half of the year, Amir Hamzah said the country’s recovery prospects were dependent on how the Covid-19 situation plays out in the near term.

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