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Pension Fund Performance in East Asia: A Comparative Study

Author

Listed:
  • Zamri Ahmad

    (Universiti Sains Malaysia, Malaysia)

  • Eliza Nor

    (Universiti Sains Malaysia, Malaysia)

Abstract

The aim of the present paper is to underline the influence of the This paper discusses and analyzes asset allocation and performance of the major pension funds in four East Asia countries, namely Malaysia, Singapore, Hong Kong and South Korea. The respective funds for these countries are Employee Provident Fund (EPF), Central Provident Fund (CPF), Mandatory Pension Fund (MPF) and National Pension Service (NPS). The impact of some economic crises on the fund performance will also be assessed. Besides looking at the individual countries, a comparison of the performance among all the funds will also be done. From the analyses, it is found that the CPF is the most conservative pension fund as it invested most of its funds in fixed income and the investments were made in the local markets, while MPF is the most aggressive pension fund as most of its funds were invested in equities. Performance of the funds was measured in terms of return on investment (ROI). All funds recorded the lowest ROI during the subprime crisis in 2008. Besides the subprime crisis, these funds were also affected by the Japanese earthquake as lower ROI were also observed in 2011.

Suggested Citation

  • Zamri Ahmad & Eliza Nor, 2015. "Pension Fund Performance in East Asia: A Comparative Study," Eurasian Journal of Economics and Finance, Eurasian Publications, vol. 3(2), pages 42-61.
    • Handle: RePEc:ejn:ejefjr:v:3:y:2015:i:2:p:42-61
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    File URL: https://eurasianpublications.com/wp-content/uploads/2021/02/EJEF-3.2.5.-Ahmad-and-Nor-pp.42-61.pdf
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    References listed on IDEAS

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    1. World Bank, 2013. "World Development Indicators 2013," World Bank Publications - Books, The World Bank Group, number 13191, December.
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    Cited by:

    1. Sunaryo Sunaryo & Alvia Santoni & Endri Endri & Muhammad Nusjirwan Harahap, 2020. "Determinants of Capital Adequacy Ratio for Pension Funds: A Case Study in Indonesia," International Journal of Financial Research, International Journal of Financial Research, Sciedu Press, vol. 11(4), pages 203-213, July.
    2. Stephanos Papadamou & Nikolaos A. Kyriazis & Lydia Mermigka, 2017. "Japanese Mutual Funds before and after the Crisis Outburst: A Style- and Performance-Analysis," IJFS, MDPI, vol. 5(1), pages 1-20, March.

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