Malaysia's EPF plans to double property assets

Kuala Lumpur

MALAYSIA's US$178 billion pension fund plans to double its real estate assets in the next few years as it seeks to diversify its holdings that are mostly invested in bonds and stocks.

The Employees Provident Fund (EPF), whose property investments include 11-12 St James Square and the Battersea Power Station project in London, is now looking at buying more assets in continental Europe, chief executive officer Shahril Ridza Ridzuan said in an interview in Kuala Lumpur on Tuesday. EPF manages the retirement savings of more than 13 million people.