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Flawed rationale behind EPF re-entering the stock market

At the end of 2018, the EPF resolved to re-enter the stock market despite substantial losses and allegations of mismanagement on EPF’s equity investments in the past.

The EPF provides two reasons for the decision: (i) that members will benefit from higher returns; (ii) that the increase in EPF loanable funds will soon outstrip government requirements for additional borrowing. This Insight proves that both these reasons are analytically flawed.

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Last modified: November 8, 2023

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