According to statement issued by the retirement fund yesterday, as a statutory body, it is governed by its board, whose members include representatives from employees, employers, industry and the government.

On Tuesday, Bernama reported that the EPF and Khazanah Nasional plan to expand their investments in the United States during Prime Minister Najib Tun Razak’s visit to the country.

The EPF alone is expected to invest between US$3 billion (Bt99 billion) and $4 billion.

Below is the statement issued by the EPF:

When deliberating any investment decisions, the EPF follows a process that requires it to first go through the management committee.

This where proposals are scrutinised in accordance with our long-term diversification strategy.

This is also in line with the EPF’s mandate to grow its members’ retirement savings by investing only in assets that fit its risk-return profile.

Final approval is then obtained from the investment panel, comprising senior members of EPF management, industry professionals and the government.

As a statutory body, the EPF is governed by its board, whose members include representatives from employees, employers, industry professionals and the government.

The board ensures that the EPF carries out its responsibility to safeguard the interest of its 14 million members.