Chief executive officer Amir Hamzah Azizan said inflationary concerns, supply chain disruptions and tightening of monetary policy by major central banks are likely to continue to dampen both the equity and bond markets.

“The EPF would continue to rebalance the fund’s positions in stocks that are fundamentally strong but undervalued,” he said in a statement today.

He also said that as one of the pillars of the country’s socio-economic and social security framework, the EPF’s fund performance and support of the domestic capital market are integral to the country’s economic success.

Amir Hamzah said the four pandemic-related withdrawal facilities – i-Lestari, i-Sinar, i-Citra, and Special Withdrawal – had helped tide members over during the pandemic, but now that the country has entered the endemic phase, the focus would be on helping members rebuild their savings.

“In addition to prioritising members’ interests and future well-being, the EPF also needs to ensure it is able to perform going forward.

“Any further withdrawals would financially impact the EPF and weaken the fund’s current portfolio position and capacity to ensure sustainable returns,” he said.

He also said the EPF will strive to ensure the health of its finances and globally diversified portfolio, guided by its strategic asset allocation plan, to enable it to ride out volatilities in pursuit of its long-term portfolio objectives.