Retirement Fund aims to achieve RM100bil size by end-2013

  • Nation
  • Thursday, 05 Jul 2012

KUALA LUMPUR: The Retirement Fund Inc's (KWAP) aims to achieve RM100bil in fund size by the end of 2013.

Its chief executive officer, Datuk Azian Mohd Noh said it would be a great achievement for KWAP if it hit the target.

"We know we should not rely on the government and we must always work hard to look at how to increase the fund further. It would be a milestone if we achieve the RM100 billion by the end of next year," she said after the announcement of KWAP's financial performance by Second Finance Minister Datuk Seri Ahmad Husni Hanadzlah on Thursday.

She added that KWAP would be able to achieve RM88bil in fund size by year-end.

However, in terms of investment, Azian said KWAP is currently working to invest in fixed income apart from equities.

"We are also looking into Syariah-compliant investments as we know most of our funds are in conventional investment. We are now fast tracking our investments in the Islamic space," she said.

She hoped that in the near future, KWAP could provide choices for government employees whether to opt for conventional or Syariah-compliant funds.

KWAP's fund size increased by 11.93 percent, or RM8.41bil, to RM78.93bil last year from RM70.52bil in 2010.

Earlier, when announcing the financial results, Second Finance Minister Datuk Seri Ahmad Husni Hanadzlah said the fund's investment income was RM4.66bil in 2011, which translated into a gross return on investment of 6.3 percent.

It was one percent higher than RM4.62bil recorded in 2010. - Bernama

Article type: metered
User Type: anonymous web
User Status:
Campaign ID: 1
Cxense type: free
User access status: 3
Join our Telegram channel to get our Evening Alerts and breaking news highlights

Next In Nation

Covid-19: Priority is vaccinating citizens in Sabah, says Masidi
EMCO kicks off early in parts of Kota Kinabalu as police cordons go up around affected areas
MACC ready to work with varsities to boost corruption awareness
Covid-19: Over 550,000 vaccine doses administered on Wednesday (July 28)
Covid-19: MAEPS PKRC 2.0 oxygen supply stable due to on-site filling plant
Do you know ... about International Tiger Day?
Well ahead of schedule
Wee is all praise for KJ’s NIP presentation
Experts to advise government on booster shots next week
Wee: Explain LRT incident

Stories You'll Enjoy