KUALA LUMPUR: The Employees Provident Fund (EPF) recorded a total investment income of RM27.73bil for the first quarter ended March 31, 2026 (1Q26), up 51% from RM18.31bil in the corresponding period last year.
In a statement, the retirement fund said the figure included unrealised mark-to-market gains and losses on securities arising mainly from foreign exchange rate fluctuations.
EPF chief executive officer Ahmad Zulqarnain Onn said the strong first-quarter performance reflected a strategic portfolio decision made earlier this year.
“EPF's strong first-quarter income reflects a portfolio decision taken at the beginning of this year to realise gains ahead of anticipated market turbulence. Our portfolio managers front-loaded income that would otherwise have been spread across the full year.
“Members should not extrapolate this quarter's result, as it is unlikely to be repeated in subsequent quarters. The underlying portfolio continues to be managed for sustainable, long-term returns and not short-term peaks,” he said.
He added that the investment environment remains challenging due to geopolitical and inflationary pressures.
“We entered this period of uncertainty in a position of strength because we acted early. Our priority now is capital preservation and disciplined deployment to ensure the adequacy and sustainability of retirement savings for our 18 million members over the long term,” he said.
Equities remained the largest contributor to investment income, rising 88% to RM20.34bil in 1Q26 from RM10.8bil a year earlier, driven by broad-based market gains during the early part of the quarter.
However, the EPF noted that market momentum eased in March amid escalating geopolitical tensions and global uncertainty.
Fixed income instruments contributed RM6.76bil, accounting for 24% of total investment income during the quarter. The asset class continued to provide stable and resilient returns amid market uncertainties.
Meanwhile, real estate and infrastructure investments generated RM190mil, while money market instruments contributed RM440mil.
Total investment assets stood at RM1.44 trillion as at March 31, 2026, with 36% invested globally. International investments generated RM15.36bil, contributing 55% of total investment income for the quarter.
EPF said investment income for Simpanan Konvensional amounted to RM22.63bil, while Simpanan Shariah recorded RM5.10bil.
On membership growth, EPF registered 220,925 new members in 1Q26, bringing total membership to more than 18.3 million.
Active members increased to 10.8 million, while active employers rose to 642,609 as at March 2026.
Total contributions climbed 13.3% year-on-year to RM38.01bil in 1Q26 from RM33.54bil previously, supported by continued growth in voluntary contributions, which rose to RM8.83bil during the quarter.
