Bloomberg News

Malaysia’s EPF Raises Holdings of Global Sukuk to $1.75 Billion

October 18, 2011

Oct. 18 (Bloomberg) -- Malaysia’s state-owned Employees Provident Fund increased holdings of global Islamic bonds to $1.75 billion this year from $650 million in October 2010, when it set up a program to invest in the debt, according to the head of treasury.

“We are also looking to increase our mandate to include the Islamic space in the region,” Wan Kamaruzaman Wan Ahmad, who is also general manager at the fund, said at an Islamic conference in Kuala Lumpur today, without elaborating.

EPF’s investment in Malaysian government and corporate bonds is expected to reach 88 billion ringgit ($28 billion) to 90 billion ringgit this year, he said. Holdings totaled 27 billion ringgit in 2006, Wan Kamaruzaman said.

To contact the editor responsible for this story: Elffie Chew at echew16@bloomberg.net


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