The winter has come


https://www.malaymail.com/news/money/2025/0...ke-a-hit/179153

KUALA LUMPUR, June 3 — The Employees Provident Fund (EPF) recorded investment income totalling RM18.31 billion for the first quarter ended March 31, 2025 (Q1 2025), a 13 per cent decline from RM20.99 billion in the corresponding period in 2024.

It said the total investment income includes RM1.02 billion mark-to-market gains on securities that have not been realised, due to foreign exchange rate fluctuations. In line with the EPF’s policy, these gains will not be distributable as dividends.

EPF chief executive officer Ahmad Zulqarnain Onn noted that global markets turned volatile early in 2025 on renewed trade frictions and policy uncertainty.

He added that uncertainties surrounding US trade policies affect major stock markets throughout the quarter although the tariff announcement was made by the US administration on April 2.

“Despite the moderation of inflationary pressures in many economies, the pace and timing of monetary policy easing differed across regions, dampening risk appetites. Our diversified global portfolio cushioned the impact and kept the EPF on course for long-term value creation,” Ahmad Zulqarnain said in a statement today.

During Q1 2025, equities contributed RM10.81 billion, a 23 per cent decline from RM14.02 billion recorded in Q1 2024 mainly due to weaker performance across global equity markets and a challenging investment climate.

EPF said equities continued to be the highest contributor, accounting for 59 per cent of total investment income while fixed Income continued to anchor capital preservation, contributing RM5.99 billion or 33 per cent of total investment income.