EPF's "spending spree"?

by The Mamak Gang

The Independent calls it a "spending spree" but according to the EPF it's not as lavish as it sounds and explains where OUR savings totaling some RM5 billion will go: -

EPF's RM5 billion investment in the UK: Where the money will go



Banyak tu! "Spending spree" ni maksudnya belanja macam nak rak/boros/gila2. Baca cerita "shopping spree' di sini.

Sebenarnya bukanlah EPF ni nak joli. Sumber2 yang saya percayai bilang duit EPF, iaitu duit simpanan hari tua untuk kebanyakan kita, akan dilabur dengan cermat. Insyallah, dividen tahun2 hadapan akan labih tinggi lagi. Katanya lah .. tapi esok kalau dividen kurang, tahulah kita kalau cakap orang2 kat KWSP ni boleh pakai ke tidak.

Sila baca jawapan EPF:


EPF CLARIFIES PROPERTY INVESTMENTS IN UK

In response to a report published in The Independent on Sunday (Business) on 29 August 2010, the Employees Provident Fund (EPF) wishes to clarify that the EPF is investing £1 billion on properties in the United Kingdom.

The stable and highly liquid UK property market underlies the rationale behind the move. In addition, the UK is selected as it has one of the largest property markets in the world backed by strong Land Laws protecting the landlords. Furthermore, London is the Services Centre for the European Market. The investments would be for long-term with expected annual yield of 6 to 7 percent.

ING Real Estate Investment and Management and RREEF, the property management arm of Deutsche Bank, have been appointed via an open tender process through Requests for Proposal (RFP) as consultants and advisers for the project.

Although the EPF is pursuing overseas investments, the fund is also aggressively exploring the market in Malaysia. Presently, the fund owns the Sogo Building, Wisma KFC, MAS Training Centre, Giant-owned supermarket outlets, and CIMB branches, to name a few.

The EPF’s strategic asset allocation for properties is around five percent but currently it has not reached even one percent and hence the EPF is desirous to bring this percentage up. Even with these investments in the UK, the percentage is still well below the EPF’s strategic asset allocation for properties.

As a retirement fund, the EPF is always committed to maintaining a prudent and low risk investment policy. The fund strictly adheres to its Strategic Asset Allocation that is designed to maintain consistent returns in the long run within tolerable risks limits for each asset class.

To date, the EPF has managed to put in place sound and sufficient risk management practices, which are regularly reviewed to attest their effectiveness, in order to safeguard its investments. This helps to ensure that the fund’s investment strategy is always in tandem with domestic and global economic scenarios.

Issued by the EPF Public Relations Department
Date: 30 August 2010

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