IN the last two years, the Employees Provident Fund (EPF) has been able to declare dividends of more than 6% even when banks were offering negative interest rates for deposits due to the performance of its porfolio of foreign equities.
In the first quarter of this year when the global markets were down, the returns from the foreign equities portfolio were lower and this has impacted the overall gross income that the retirement fund earned. The trend is similar for most other funds in the world.
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