Malaysia’s Employees’ Provident Fund (EPF) will continue spend wisely the money entrusted to it by the people, according to its CEO Datuk Shahril Ridza Ridzuan, reported the New Straits Times.
“We will remain prudent in our expenses as indicated by the consistency in our key financial ratios including the cost to asset under management of 0.25 percent, cost to gross income of 2.56 percent and cost to total asset of 0.16 percent,” he told reporters.
In addition, the fund places more importance on long-term sustainable returns rather than short-term gains, Shahril noted.
In spite of the issues in 2016, the EPF has also been able to consistently surpass its two targets of achieving 2.5 percent nominal dividend per annum and a minimum real dividend of two percent on a rolling three-year basis.
Last year, the fund posted a gross investment income of RM46.56 billion. Not only is this 5.25 percent higher than the RM44.23 billion recorded in 2015, this is also the best figure since 1951 when the EPF was founded, he said, adding that it has increased by 11 percent on a yearly basis since 2001.
Image sourced from The Malaysian Reserve
Radin Ghazali, Content Writer at PropertyGuru, edited this story. To contact her about this or other stories email radin@propertyguru.com.my
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