Liquid assets will cover withdrawals by members, says EPF

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The EPF says it will look to its liquid assets to balance the impact of withdrawals.PETALING JAYA: The Employees Provident Fund (EPF) said it expects the additional outflow from withdrawals by members affected by the Covid-19 pandemic to have a “minimal impact” on its long-term returns.The country’s largest pension fund told Bloomberg that it had been expecting withdrawals since the outbreak early this year and had prepared for it by increasing its cash levels.“In the case where the EPF has to rebalance its portfolio, it would look into its liquid assets to cater for the withdrawal.“It will be done in an orderly manner without being disruptive to the market and its own long term investment strategy,” the financial news agency quoted them as saying.EPF recently allowed contributors to make a one-off RM10,000 withdrawal from their EPF Account 1, although there were certain condi…