Malaysia’s Kumpulan Wang Persaraan (KWAP) reported a record 18 billion ringgit (US$4.05 billion) investment income in 2024, with the civil service pension fund’s top executive touting a “disciplined approach” for the “exceptional performance”.
KWAP’s domestic investments returned 12.9% while foreign investments returned 9%, Malaysia’s second largest pension fund says in a statement on February 13.
Its total assets under management rose 9.3% to 185.6 billion ringgit, three-quarters of which is invested within Malaysia.
Over half, or 51.7% of the assets, is in public equities and 32.4% in bonds, with most of the rest split between private equity, real estate and infrastructure.
According to KWAP, this asset allocation strategy has enabled it to “optimise its investment returns amidst varying market conditions”.
The fund’s total return from public equities was 21.9%, with 23.2% from Malaysian stocks and 16.9% from foreign stocks.
“KWAP’s exceptional performance in 2024 reflects our disciplined investment approach, underpinned by the resilience of Malaysia’s economy,” says Nik Amlizan Mohamed, the pension fund’s chief executive officer. “Although global uncertainties and geopolitical risks remain, we will stay vigilant, adapting our strategies to mitigate risks and seize emerging opportunities.”
