KUALA LUMPUR, Nov. 17 (Xinhua) -- Malaysia's state pension fund, the Employees Provident Fund (EPF), said Friday that it recorded a total investment income of 14.67 billion ringgit (3.13 billion U.S. dollars) in the third quarter of this year.
EPF said in a statement that the income increased 19.37 percent from 12.29 billion ringgit recorded a year ago.
Equity investments remained a significant contributor, accounting for 63 percent of the total investment income in the third quarter, with 9.17 billion ringgit generated, it said.
According to EPF, the increase in income compared to the 5.89 billion ringgit recorded in the third quarter of 2022 can be attributed to the fund managers' proactive approach to realize capital gains at the beginning of the quarter, which saw some equity indices recording their best year-to-date performance, particularly for developed markets.
"During the third quarter, we witnessed global equities posting a negative return, shifting significantly from the strong gains experienced in the first half of the year. The Gaza-Israel war and the ongoing Russia-Ukraine conflict will undoubtedly contribute to an atmosphere of uncertainty and market volatility," EPF CEO Amir Hamzah Azizan said.
He anticipated geopolitical risks will continue to amplify the already turbulent economic situation.
Meanwhile, the firm recorded a total investment income of 47.86 billion ringgit for the first nine months of 2023, an increase of 33 percent from the 36.04 billion ringgit recorded a year ago.
Out of the 47.86 billion ringgit total investment income, 4.62 billion ringgit were generated from mark-to-market gains of securities that have not been realized. (1 ringgit equals 0.21 U.S. dollar) ■