EPF to increase overseas investments

(The Star) – KUALA LUMPUR: The Employees Provident Fund (EPF) is planning to increase its overseas investments to generate higher returns for its members.

Chief executive officer Tan Sri Azlan Zainol said its current investment of RM40.53bil in overseas markets only represented 9.2% of EPF’s overall RM440.52bil investment last year.

“At this juncture, our overseas investment is very small, particularly in terms of exposure to each investment avenue,” he said at the opening of the International Corporate Governance Network Conference hosted by EPF yesterday.

“We are looking to increase our exposure in the international market to diversify our portfolio.”

Being the oldest provident fund in the world, Malaysia’s EPF was ranked as the world’s 19th biggest pension fund in 2009 with assets amounting to US$109bil (RM330bil) then, he said.

With the amount having grown to RM440.52bil, the EPF has a great responsibility to manage and grow members’ savings prudently, he added.