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The Employees Provident Fund (EPF) posted a robust investment income of RM63.99 billion for the nine months ending 30 September 2025
This marks an 11% increase from RM57.57 billion recorded in the same period last year.
The third quarter alone (Q3 2025) saw income soar to RM25.07 billion, a 27% jump from RM19.67 billion in Q3 2024, reflecting a rebound in equity markets following "Liberation Day", according to EPF chief executive Ahmad Zulqarnain Onn.
For context, "Liberation Day" here refers to the 2 April 2025 announcement when US President Donald Trump introduced sweeping "Liberation Day" tariffs on US imports, a policy shift that triggered disruptions in global trade and supply chains.
"The 11% growth in total investment income, alongside 12% growth in assets under management, reflects the execution of our strategic asset allocation, which allowed the EPF to benefit from recovering equity markets," he said, as reported by The Star.
"We are encouraged by the strength of the Malaysian economy, which underpins 61% of our portfolio, while our global investments contributed 53% of total income this quarter."
Ahmad Zulqarnain noted that despite the strong performance, the fund remains cautious heading into the fourth quarter.
"Global equity valuations are elevated, and mixed signals from global economic indicators could affect the pace of interest rate cuts. We are actively managing these risks by locking in profits at a pace that may be hard to match in Q4," he added.
File photo of EPF chief executive Ahmad Zulqarnain Onn.
Image via KLSE ScreenerEquities continued to dominate income contributions, generating RM16.95 billion or 68% of the total
Fixed income instruments, including Malaysian Government Securities, contributed RM6.75 billion (27%), while real estate and infrastructure added RM1.14 billion (4%), and money market instruments RM0.23 billion (1%).
Of the Q3 income, RM20.48 billion came from conventional savings and RM4.59 billion from Shariah-compliant accounts. Total investment assets rose to RM1.37 trillion as of 30 September 2025, a 12% year-on-year increase, with international investments making up 39% of the portfolio.
EPF added 427,329 new members, taking total membership to more than 16.5 million, with 9.07 million active contributors, representing 51.7% of Malaysia's 17.54 million-strong labour force
Employer registrations also rose, with 62,401 new companies joining the fund, bringing the total to 628,321 active employers.
Total contributions increased 10.5% to RM27.84 billion in Q3 2025, while voluntary contributions jumped 47.5% to RM15.30 billion.
"EPF's continued growth in investment income and member contributions highlights both the resilience of the Malaysian labour market and the effectiveness of our diversified investment strategy," Ahmad Zulqarnain said.
