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KWAP's net income jumps nearly 37 times in FY2023
savemalaysia
Publish date: Wed, 31 Jul 2024, 01:07 PM
KUALA LUMPUR (July 31): Retirement Fund Inc, better known as KWAP, on Wednesday reported that its net income jumped nearly 37 times for the financial year ended Dec 31, 2023 (FY2023).
Net income totalled RM9.7 billion — the second highest since its inception in 2007 — compared to RM263 million booked in FY2022, the fund said in a statement. Total fund investment return stood at 8.2% for the year.
KWAP's fund size grew 7.4% to RM169.8 billion in 2023, from RM158.1 billion in 2022, after taking into account withdrawals totalling RM3 billion by the government to partially finance its pension liabilities.
In terms of asset classes and by time weighted rate of return, KWAP's public equity investments recorded 11.0%, private equity delivered 7.9% and fixed income achieved 6.2%. The infrastructure portfolio, meanwhile, delivered 5.2% return and real estate 3.5%.
https://www.theedgemarkets.com/node/721072
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