Kwap Achieves Record High Net Income Of Rm12 9bil For 2024

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KWAP’s fund size grew by RM15.8 billion to RM185.6 billion in its unaudited results for the financial year ended Dec 31, 2024, reflecting a 9.3% increase from RM169.8 billion in 2023.
KUALA LUMPUR: Retirement Fund Inc (KWAP) recorded its highest-ever net income, a record RM12.9 billion, for 2024, with an overall return of 12%.
The fund said domestic investments generated returns of 12.9%, while the international portfolio delivered returns of 9%.
“These results stem from public equity, which generated a total return of 21.9%, with domestic equity attaining 23.2% and international equity achieving 16.9%,” it said in a statement.
KWAP’s fund size grew by RM15.8 billion to RM185.6 billion in its unaudited results for the financial year ended Dec 31, 2024, reflecting a 9.3% increase from RM169.8 billion in 2023.
After accounting for RM5 billion in withdrawals to partially finance the government’s pension obligations, the net year-on-year increase of RM20.8 billion underscores the continued success of KWAP’s disciplined investment strategy and its focus on sustainable long-term growth.
Since its establishment in 2007, KWAP’s fund size has quadrupled, with an average growth of 9.1% per annum.
The fund’s asset allocation strategy remains diversified and resilient, with 74.6% of its portfolio invested domestically and 25.4% internationally.
As of Dec 31 last year, the portfolio was allocated as 51.7% equity, fixed income (32.4%), private equity (5.4%), real estate (5.2%), and infrastructure, with a balance in cash management for liquidity purposes (2.2%).
“This strategy has enabled the fund to optimise its investment returns amid varying market conditions,” it said.
In terms of retirement services, KWAP served more than 810,000 pension recipients throughout Malaysia as of Dec 31, 2024, reflecting a 2.4% increase, or more than 19,000 additional pension recipients compared with 2023.
KWAP maintained a 99.8% service level agreement performance score, well above the 95% threshold.
Its chairman, Johan Mahmood Merican, said these results underscore the fund’s ongoing efforts to ensure the long-term financial sustainability of the pension ecosystem.
“We are confident that our continued focus on strategic investments and sustainability will further strengthen KWAP’s contributions to Malaysia’s pension ecosystem for generations to come,” he said. - FMT

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