“Uncertainty as new certainty”

Malaysia’s Employees Provident Fund (EPF), the country’s largest pension fund, expects uncertainty to be the new norm in 2019 and says it will remain prudent with investments.

According to EPF chief executive officer Alizakri Alias, this will be a year where “uncertainty will be the new certainty”.

“Last year, there was so much talk about the upward trend in the US interest rates, and look at what happened next, the US has suddenly taken a very dovish stance. Uncertainty will be the new norm for now,” he told reporters at a briefing on February 18 about the pension fund’s 2018 financial performance. “It’s going to be challenging this year so let’s stick to what we know and let’s really hunt for the assets that will bring the returns…It’s not a year for us to be adventurous.”

Nevertheless, he says there are still investment opportunities globally, and particularly in Southeast Asia.

“The possible bright spot may actually be right in our backyard. Southeast Asia is still seen as an emerging market, but at the same time also provides a relatively safer haven for money,” he said to Asia Asset Management.