Malaysia state fund buys German, French property

Reading Time: 2 minutes

eiffel towerMalaysia’s state pension fun, the Employees Provident Fund (EPF), will invest $660 million in industrial property in Germany and office space in France, according to a Reuters report published on July 26.

The EPF, the world’s sixth-largest pension pool with about $160 billion in assets, is of the opinion that Europe’s main economies show signs of recovery. For the investment, it will expand an existing partnership with Australia’s Goodman Group Pty Ltd to start a $330 million fund to buy 7 industrial properties in the German cities of Berlin, Munich and Frankfurt, the report said.

The fund will spend another $330 million to buy prime office space in Paris. The deal will mark the EPF’s first foray into the euro zone. Furthermore, New York City real estate is also targeted.

The EPF has already invested around $858 million in the UK, including a 20 per cent stake in the $12 billion redevelopment of London’s Battersea power station. The fund aims to raise overseas investments to 23 per cent of total assets from 18 per cent now within two years. Currently, 5 per cent of the investments are in real estate.

Legally, the EPF is a Malaysian government agency under the Ministry of Finance. It manages the compulsory savings plan and retirement planning for employed workers in Malaysia. Membership of the EPF is mandatory for working Malaysian citizens.

A member’s EPF savings may be used as investments for companies deemed profitable and permissible by the organisation, from which dividends are banked to respective members’ accounts.

Do you like this post?
  • Fascinated
  • Happy
  • Sad
  • Angry
  • Bored
  • Afraid

Reading Time: 2 minutes

Malaysia’s state pension fun, the Employees Provident Fund (EPF), will invest $660 million in industrial property in Germany and office space in France, according to a Reuters report published on July 26.

Reading Time: 2 minutes

eiffel towerMalaysia’s state pension fun, the Employees Provident Fund (EPF), will invest $660 million in industrial property in Germany and office space in France, according to a Reuters report published on July 26.

The EPF, the world’s sixth-largest pension pool with about $160 billion in assets, is of the opinion that Europe’s main economies show signs of recovery. For the investment, it will expand an existing partnership with Australia’s Goodman Group Pty Ltd to start a $330 million fund to buy 7 industrial properties in the German cities of Berlin, Munich and Frankfurt, the report said.

The fund will spend another $330 million to buy prime office space in Paris. The deal will mark the EPF’s first foray into the euro zone. Furthermore, New York City real estate is also targeted.

The EPF has already invested around $858 million in the UK, including a 20 per cent stake in the $12 billion redevelopment of London’s Battersea power station. The fund aims to raise overseas investments to 23 per cent of total assets from 18 per cent now within two years. Currently, 5 per cent of the investments are in real estate.

Legally, the EPF is a Malaysian government agency under the Ministry of Finance. It manages the compulsory savings plan and retirement planning for employed workers in Malaysia. Membership of the EPF is mandatory for working Malaysian citizens.

A member’s EPF savings may be used as investments for companies deemed profitable and permissible by the organisation, from which dividends are banked to respective members’ accounts.

Do you like this post?
  • Fascinated
  • Happy
  • Sad
  • Angry
  • Bored
  • Afraid