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Categories
| KWAP’s fund size increases to RM54b |
| Business & Market 2009 | |||
| Written by Financial Daily | |||
| Friday, 03 July 2009 11:19 | |||
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In a statement on Wednesday, the retirement fund said its investment income for 2008 totalled RM3.01 billion, down 22.88% from RM3.7 billion in 2007. “Despite the challenging year which saw the KLCI drop by 39%, KWAP delivered a return on investment of 5.93%. This ROI exceeded average market dividend yield of 4.5% and average 10-year Malaysian Government Securities of 4.13%,” it said. KWAP said the other contributors to the increase in its fund size (at cost) were annual contribution from the federal government of RM1.65 billion, receipt of government’s portion of Employees Provident Fund, Lembaga Tabung Angkatan Tentera and Teachers’ Provident Fund amounting to RM1.26 billion and employers’ contributions totalling RM510 million from statutory bodies, local authorities and agencies. KWAP, which was incorporated on March 1, 2007 to assist the federal government in funding its pension liability, tabled its audited financial statements in parliament on Tuesday. This article appeared in The Edge Financial Daily, July 3, 2009.
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