EPF to send $3.2 billion offshore by 2007

It also seeds a new Southeast Asia resources fund with partners CIMB and Standard Bank.

By Alastair Reed

March 30, 2006

Malaysia's mammoth M$260 billion $70.4 billion Employees Provident Fund has obtained the Finance Ministry's approval to allocate another M$925 million $250 million of funds to external fund managers for overseas investment û in just the first stage of a planned M$12 billion $3.2 billion offshoring by 2007.

The latest allocation, benchmarked against the recently launched FTSEAsean 40 Index, is the first chunk of the M$2 billion $541 million pot the EPF plans to outsource this year. When allocated, it will take the EPF's offshore investments to more than $350 million. The EPF has just received permission to allocate this money abroad and has yet to choose an external fund manager or managers.

Separately,...

FinanceAsia has updated its subscription model.

Registered readers now have the opportunity to read 5 articles from our award-winning website for free.

To obtain unlimited access to our award-winning exclusive news and analysis, we offer subscription packages, including single user, team subscription (2-5 users), or office-wide licences.

To help you and your colleagues access our proprietary content, please contact us at [email protected], or +(852) 2122 5222

Southeast Asia