Retirement Fund (Incorporated)

Registry · Top 100 · rank 88 (INST) · Public Pension · Malaysia · Last researched 11 September 2026 · Corrections: info@universalassetowners.com

• Executive brief
• Speakable summary
• Mandate & ownership
• Scale & portfolio
• Governance & leadership
• Investment philosophy
• Climate / ESG / ethics
• Performance & reporting
• Controversies & debates
• Timeline
• FAQ
• Sources

Executive brief

Kumpulan Wang Persaraan (Diperbadankan) — Retirement Fund (Incorporated), soft-string KWAP — is Malaysia’s largest public-sector pension fund for civil servants. Incorporated on 1 March 2007 under the Retirement Fund Act 2007 (Act 662), succeeding the Pensions Trust Fund. Official overview: KWAP receives contributions from the Federal Government and other agencies, invests for maximum sustainable returns under sound risk management, and since 2015 administers pension payments as a Government agent after taking over the Public Service Department’s Post Pension Services Division.

Prefer official Malaysian ringgit only for the AUM headline. KWAP’s Integrated Annual Report 2024 and the 13 February 2025 results release put fund size at RM185.60 billion as at 31 December 2024 — up RM15.78 billion (9.3%) from RM169.8 billion at YE2023. FY2024 delivered investment income of about RM18.0–18.01 billion and annual TWRR 12.0% (both framed as highest since inception). Do not invent a USD headline; public ~US$48 bn INST estimates are stale versus dated MYR.

Leadership (live KWAP’s Team + CEO release): CEO Dato’ Jay Khairil Jeremy Abdullah (effective 20 May 2026, announced 11 May 2026); CIO Encik Hazman Hilmi Sallahuddin (appointed 3 January 2022). Prior CEO Datuk Hajah Nik Amlizan Mohamed served from 2 November 2020 and is formally appreciated in the May 2026 appointment release. Board Chairman Tan Sri Johan Mahmood Merican (Secretary General of Treasury).

Researchers care because KWAP sits at the intersection of Malaysia’s civil-service pension liability, GLIC private-market policy (GEAR-uP up to RM40 billion over five years into domestic private markets), and a dual mandate of investment returns plus pension-administration service to more than 810,000 recipients. Related UAO hubs: Registry institutions and peer Malaysian owners such as EPF/KWSP (distinct — do not mix).

Speakable summary

KWAP — Retirement Fund (Incorporated) — is Malaysia’s statutory public-sector pension fund under Act 662. Official fund size RM185.60 billion at 31 December 2024. CEO Dato’ Jay Khairil Jeremy Abdullah effective 20 May 2026; CIO Hazman Hilmi Sallahuddin since 3 January 2022. FY2024 TWRR 12.0% with about RM18 billion investment income. Prefer MYR; not EPF, not Khazanah.

Mandate & ownership

Legal identity: Kumpulan Wang Persaraan (Diperbadankan), English Retirement Fund (Incorporated). Incorporated 1 March 2007 under Act 662, replacing repealed Pensions Trust Fund Act 1991 (Act 454). Pensions Trust Fund established 1 June 1991 with RM500 million Federal launching grant; on KWAP incorporation, powers, functions, activities, assets and liabilities transferred in totality.

Corporate Overview “How KWAP Operates”: recipient of contributions from the Federal Government and other relevant agencies; mandated to invest for maximum sustainable returns through sound risk management and investment strategies. Official functions: (1) manage contributions from Federal Government, Statutory Bodies, Local Authorities and other Agencies; (2) administer, manage and invest the Fund in equity, fixed income, money-market and other forms permitted under Act 662; (3) manage and pay pensions.

Investment Policy Statement (effective 13 July 2023) restates fiduciary duty to protect the Retirement Fund and apply it toward assisting the Federal Government in funding its pension liability. In 2015 KWAP was appointed Government agent to administer pension payments, gratuities and other benefits. Vision: trusted retirement fund supporting nation building by innovatively delivering sustainable benefits. Mission: optimise investment returns and deliver excellent services by adopting best practices. Objective: optimum returns to assist Federal Government Administration in financing its pension liability.

What the mandate is not: not EPF/KWSP (member provident fund); not LTAT; not Khazanah Nasional. Soft-string disambiguation matters in search and Instant-data merges.

Scale & portfolio

Before the RM5 billion withdrawal used to partially finance Government pension duties, FY2024 materials cite a gross year-on-year increase of RM20.8 billion. Domestic investments RM138.50 billion. Geographic split: 74.6% domestic / 25.4% international.

SAA mix as at 31 December 2024: equity 51.7%, fixed income 32.4%, private equity 5.4%, real estate 5.2%, infrastructure 2.2%, balance cash/liquidity (~3.1% on highlights card).

Retirement-services scale: 810,025 pension recipients at 31 December 2024 (+2.4% / more than 19,000 vs 2023). SLA 99.8% vs 95% threshold. Outreach: Jelajah MyPesara (over 8,000 participants / 40 locations) and Karnival MyPesara (more than 20,000 attendees in Johor Bahru).

Investment Overview pages: Equity (Domestic/International); Fixed Income (government/corporate bonds, FX, money markets); Private Equity (54 PE funds and 5 directs across buyout, growth, infrastructure, secondaries, venture); Real Estate (offices, logistics, PBSA, retail). Homepage “Saiz Dana” widgets are JS-hydrated — ignore ephemeral zeros.

Governance & leadership

Chief Executive Officer: Dato’ Jay Khairil Jeremy Abdullah — effective 20 May 2026 (release 11 May 2026). Official bio: almost 30 years in banking/financial services; prior Chief Executive of Bank Simpanan Nasional; earlier BSN CFO and Chief Internal Auditor; senior roles at CIMB Group, Bank of Tokyo-Mitsubishi UFJ (Malaysia), Bank Negara Malaysia; earlier Hong Leong Bank and AmMerchant Bank. Credentials cited: Heriot-Watt Business and Finance; Higher Diploma in Management Accounting; Chartered Banker, CGMA, CFSA; MIA/CIMA; Chartered Member IIA Malaysia.

Chief Investment Officer: Encik Hazman Hilmi Sallahuddin — appointed 3 January 2022. Prior: MD Damansara Assets (JCorp); CEO AMAL by Malaysia Airlines; ~12 years Khazanah including SVP Europe (London) and VP Turkey (Istanbul). MEng First Class, Balliol College Oxford; MSc Operational Research, LSE.

Chief Financial Officer: Encik Abdul Hakim Amir Zainol — appointed 12 November 2025. Prior Cagamas CFO then Chief Business Officer; UK roles at C. Hoare & Co. and Aldermore; KPMG/EY start. FCCA, FCT, MIA; LSE Accounting & Finance; Sloan Master’s, London Business School.

Prior CEO: Datuk Hajah Nik Amlizan Mohamed — CEO from 2 November 2020; previously LTAT CEO and earlier KWAP CIO. IAR 2024 CEO message is under her signature for FY2024. May 2026 release records appreciation for leadership since 2020. Secondary press described an acting interval with board member Dato’ Azmi Abdullah — label secondary; primary fact is official CEO effective 20 May 2026.

Board Chairman: Tan Sri Johan Mahmood Merican — Secretary General of Treasury, MoF; Chairman from 27 February 2023. Investment Panel Chairperson: Puan Rohaya Mohammad Yusof (live Team; also identified on-site as EPF CIO in external capacity).

Live Team lists Board members across BNM, MoF, Government and private-sector seats plus CEO. Investment Panel includes MoF and private-sector representatives with CEO as Secretary. Senior management also includes Chief Strategy and Services Officer Encik Nazaiful Affendi Zainal Abidin (1 November 2024) and Chief Digital Officer Encik Maz Mirza Mohd Aminurashid (3 October 2022). Omit private phone numbers from office directories.

Investment philosophy

IPS (13 July 2023): long-term perspective for sustainable risk-adjusted returns; markets not always efficient so alpha opportunities exist; active strategies where strong alpha conviction; passive when active conviction is weak.

Objective: optimum returns on a sustainable basis through dynamic strategies aligned to risk appetite, meeting long-term pension liabilities. Targets outperformance of Malaysian inflation plus an additional premium over a 10-year rolling period.

IAR 2024 / FY2024 emphasise diversified SAA across equity, fixed income, private equity, real estate and infrastructure, with majority domestic footprint (74.6%) and material international sleeve (25.4%).

Policy programmes: TERAS 5 framed as completed transformation across processes, digital infrastructure, governance and structural alignment; GEAR-uP domestic private-market commitments up to RM40 billion over five years with other GLICs.

Climate / ESG / ethics

Opened: Sustainability Report 2023, IAR 2024 Sustainability Statement, ESG Framework PDF, Code of Business Ethics and Conduct, Anti-Bribery and Corruption booklet, CG/voting guidelines, domestic equity voting guidelines, Investment Stewardship page, Integrity and Governance office.

FY2024 release: embedding RI principles; priority sectors including data centres and sustainable energy under GEAR-uP; MyPesara Prihatin disaster relief (RM350,000 essentials cited for Kelantan/Terengganu floods) with GDRN and MyFundAction.

IAR 2024 sustainability extracts: ESG guidelines for fixed income and private equity; real-estate ESG incorporation; GRESB themes; DEI / workplace gender equality; KL office electricity highlight (84%); phishing-risk reduction 2.2% (FY2023) to 1.9% (FY2024). IPS covers ESG investment beliefs, transparency, integrity.

Performance & reporting

FY2023 bridge: fund size RM169.8B from RM158.1B; TWRR 8.2%; Net Income RM9.65B; Total Comprehensive Income RM12.03B; unqualified audit opinion by Ketua Audit Negara noted in July 2024 release; first integrated annual report pathway.

Transparency stack: Publications (IAR 2024 EN PDF, IR 2023, annual reports to 2007, SR 2023, IPS, ESG Framework, MCII compliance, CGPVG, voting guidelines); media-centre releases; Team/governance; Investment Overview; Video Gallery.

Controversies & debates

Official attributable actions first. Periodic withdrawals to partially finance Government pension liabilities (RM5B in 2024; multi-year cumulative withdrawals in IR 2023 toward accumulated adjusted fund-size targets) are a structural mandate feature — material for growth analysis, not an invented scandal.

2026 leadership transition: primary is 11 May 2026 CEO appointment of Dato’ Jay Khairil Jeremy Abdullah effective 20 May 2026 and appreciation of Datuk Hajah Nik Amlizan Mohamed. Secondary press (The Edge; Asia Asset Management) discussed succession candidates and a reported acting-CEO interval — label secondary.

GEAR-uP / MADANI-linked domestic investment commitments place KWAP inside Malaysia’s industrial-policy and GLIC coordination debate. Separate official pledge size (up to RM40B / 5 years) from non-official deployment tallies. No invented controversies. Corrections: info@universalassetowners.com.

Timeline

• 1 June 1991 — Pensions Trust Fund established (Act 454) with RM500 million launching grant.
• 12–13 February 2007 — Act 662 royal assent / gazette path.
• 1 March 2007 — KWAP incorporated; succeeds Pensions Trust Fund.
• 2015 — Government agent for pension payments; takes over JPA Post Pension Services Division functions.
• 2 November 2020 — Datuk Hajah Nik Amlizan Mohamed appointed CEO.
• 3 January 2022 — Encik Hazman Hilmi Sallahuddin appointed CIO.
• 3 October 2022 — Chief Digital Officer Maz Mirza appointed; first CFO Haizad Rizal A Aziz appointed (historical).
• 27 February 2023 — Tan Sri Johan Mahmood Merican appointed Board Chairman.
• 13 July 2023 — Investment Policy Statement effective.
• 31 December 2023 — Fund size RM169.8 billion; TWRR 8.2%.
• 1 November 2024 — Encik Nazaiful Affendi appointed Chief Strategy and Services Officer.
• 31 December 2024 — Fund size RM185.60 billion; TWRR 12.0%; 810,025 recipients.
• 13 February 2025 — FY2024 results media release.
• 12 November 2025 — Encik Abdul Hakim Amir Zainol appointed CFO.
• 11 May 2026 — CEO appointment announcement (Jay Khairil; effective 20 May 2026).
• 20 May 2026 — CEO effective date.
• August 2026 — English IAR 2024 PDF on kwap.gov.my uploads path.

Annex: AUM honesty (MYR)

Currency discipline: KWAP publishes fund size and performance in RM / MYR. Headline AUM for this pack is RM185.60 billion as at 31 December 2024 (IAR 2024 / FY2024 release). UAO does not invent USD as the primary figure. Third-party ~US$48 billion rankings are estimate-only and stale versus official MYR.

Bridge: YE2022 RM158.1B → YE2023 RM169.8B → YE2024 RM185.60B. Withdrawals (RM5B in 2024; earlier cumulative withdrawals in IR 2023) mean gross investment growth and net fund-size change differ — official reconciliation cites ~RM20.8B gross versus ~RM15.8B net for 2024.

Homepage Saiz Dana widgets can render RM0 before JavaScript hydration; never cite hydrated zeros. Malay homepage note: figures as at 31 December 2024 audited as published in Laporan Bersepadu KWAP 2024; other homepage figures may be unaudited.

Annex: ≠ EPF / LTAT / Khazanah

EPF / KWSP is Malaysia’s national employees’ provident fund with member accounts and dividends — separate statute and AUM. Rohaya Mohammad Yusof appears as KWAP Investment Panel Chair while also serving as EPF CIO; dual public role is disclosed on KWAP’s Team page and must not collapse the institutions.

LTAT is the Armed Forces Fund Board. Nik Amlizan previously served as LTAT CEO before KWAP — biographical adjacency only.

Khazanah Nasional is Malaysia’s sovereign development company. Hazman Hilmi’s prior Khazanah career is personal history; KWAP remains a statutory pension fund under Act 662.

Soft strings: KWAP, Retirement Fund Incorporated, Retirement Fund (Incorporated), Kumpulan Wang Persaraan, Kumpulan Wang Persaraan (Diperbadankan), retirement-fund-malaysia.

Annex: IAR 2024 extracts

IAR 2024 theme centres “Empowering Generations”. Reporting frameworks cited include MFRS, IFRS, and Act 662. Board acknowledges responsibility for report integrity.

Highlights opened: Fund Size RM185.60B; Net Income RM12.96B; Annual TWRR 12.0%; Domestic Investments RM138.50B; SAA 51.7%/32.4%/5.4%/5.2%/2.2%; 810,025 recipients; GEAR-uP RM40B pledge; TERAS 5 completion.

Chairman’s message (Johan Mahmood Merican) stresses quadrupling since 2007 and GEAR-uP / Raising The Ceiling framing. CEO message covering FY2024 (Nik Amlizan) details 12.0% TWRR, domestic/international split, equity contribution, and service metrics — FY2024 stewardship before the May 2026 CEO transition.

Annex: FY2023–FY2024 media releases

13 February 2025 release: RM15.8B increase; RM18.0B investment income; 12% total return; fund size RM185.6B. Domestic 12.9%, international 9.0%; public equity 21.9% with domestic equity 23.2% and international equity 16.9%. Asset mix matches IAR.

31 July 2024 FY2023 release: fund size RM169.8B (+RM11.7B net after RM3B withdrawal); 7.4% growth; unqualified audit opinion pathway; first integrated annual report preparation.

Prefer IAR 2024 for audited YE2024 consolidation when release language was initially framed as unaudited.

Annex: Investment Policy Statement

IPS effective 13 July 2023 sections opened: Purpose; Background; Investment Mandate (RFA s.4(1) / Fund under s.13); Philosophy; Objectives (inflation + premium over 10-year rolling); Risk Management; ESG beliefs; Principles; Scope; Restrictions; Transparency; Integrity and Governance.

Background restates largest public-sector pension fund for civil servants; contribution sources; 2015 pension-administration agency appointment. Mandate: manage toward optimum sustainable returns; fiduciary duty to protect the Fund; apply Fund toward assisting Federal pension liability funding.

Annex: Retirement Fund Act 2007 (Act 662)

Act 662 reprint (as at 1 September 2018): royal assent 12 February 2007; gazette 13 February 2007; amendment Act A1496 operative 21 October 2015 (pension-administration era). Corporate Overview and IPS cite Act 662 as governing statute. Prefer Act text + official overview for mandate claims.

Annex: Board & Investment Panel (live Team)

Board (live names fetched 11 Sep 2026 — titles may rotate): Chairman Tan Sri Johan Mahmood Merican; Encik Mohamad Ali Iqbal Abdul Khalid (BNM); Puan Siti Fatimah Husin (MoF); Tan Sri Mohd Dusuki Mokhtar; Encik Jasri Kasim; Tuan Haji Nasran Omar; Dato’ Azmi Abdullah; Dato’ Maznah Abdul Jalil; CEO Dato’ Jay Khairil Jeremy Abdullah. Additional Government representative bios appear on the same page — verify live list before asserting seat counts.

Investment Panel (live): Chairperson Puan Rohaya Mohammad Yusof; Encik Mohd Hassan Ahmad (MoF); YM Tunku Afwida Tunku Abdul Malek; Dato’ Noorazman Abd Aziz; Puan Zaida Khalida Shaari; CEO as Secretary. Prefer current roster block over archived bios when conflicting.

Annex: Senior management depth

Beyond CEO/CIO/CFO: Chief Strategy and Services Officer Nazaiful Affendi Zainal Abidin (1 Nov 2024; previously Head of Portfolio Strategy & Research across ~16 years at KWAP). Chief Digital Officer Maz Mirza (3 Oct 2022; Cambridge Computer Science; prior MRT Corp / Puspakom / Sime Darby IT leadership).

Investment department heads named on Team: Mohamed Khabir Reeza Mustaffa (Fixed Income); Azlan Hussin (Equity); Saifulbahri Hassan (Private Equity); Premraj Janardanan (Infrastructure); Ahmad Shakir Mohd Asri (Real Estate bio); Khok Lee Kuan (Portfolio Strategy & Research bio). Risk: Khairul Azwa Kamalul Bahrin. Legal: Syed Ali Haidar Syed Shahabuddin. Pension Services: Muhamad Hafiz Abas. Contribution: Faroza Mohamed Sohor.

CFO transition: Team retains historical narrative for Haizad Rizal A Aziz as first CFO from 3 Oct 2022 while listing Abdul Hakim Amir Zainol as CFO from 12 Nov 2025 — treat Hakim as current CFO per appointment sentence.

Annex: Sleeve returns & portfolio colour

FY2024 equity narrative: equity ~RM96B / 51.7% of fund; public equity TWRR 21.9% vs blended benchmark; domestic equity TWRR 23.2%; international equity TWRR 17.6% in portfolio discussion (release also cites 16.9% — keep both labelled by source). Domestic equity EFMs collectively TWRR 14.2% (+1.4% vs benchmark) in opened extract.

Fixed income 32.4% of fund; TWRR 4.3% in opened extract. Real estate: 22 properties; Integra Tower KL noted with LEED accreditation. Infrastructure 2.2% of fund. Private equity language emphasises domestic market development and venture ecosystem under GEAR-uP.

Annex: Pension operations & MyPesara

Since 2015 KWAP administers pension payments and related benefits. FY2024: 810,025 recipients; 99.8% SLA. Outreach: Jelajah MyPesara; Karnival MyPesara. Video Gallery hosts MyPesara / pensioner education series on KWAP Malaysia YouTube (card replacement, derivative benefits, bank payment methods, minimum pension facts, medical claims, contribution employer onboarding).

Public addresses: Cyberjaya Quill 18 Block A Level 6 for pensioner affairs; Integra Tower, The Intermark, Level 36, 348 Jalan Tun Razak, Kuala Lumpur for corporate/investment/contribution. Public emails: mypesara@kwap.gov.my and info@kwap.gov.my.

Annex: GEAR-uP & TERAS 5

GEAR-uP: Government-linked Enterprise Activation and Reform Programme. Official KWAP pledge: invest up to RM40 billion over five years in domestic private markets with other GLICs. Priority-sector examples include data centres and sustainable energy.

TERAS 5: IAR 2024 frames completion of eight workstreams and 28 sub-workstreams; enabler pillars for a future-ready organisation spanning digital transformation, governance, and performance monitoring. Do not invent KPI numbers beyond opened extracts.

Annex: Sustainability Report 2023

SR 2023 is KWAP’s inaugural standalone sustainability report for FY2023, covering significant operating units under direct operational control; minority JVs/associates excluded. GHG baseline year noted as FY2022 for scopes 1–2–3 company-level emissions. Use SR2023 for FY2023 baselines; IAR 2024 sustainability statement for YE2024 updates.

Annex: Peer context

Malaysia map: EPF (member provident, much larger AUM), KWAP (public-sector pension + payment agent), LTAT (armed forces), Khazanah (strategic SWF/development). Regionally KWAP’s ~RM186B is sizable among Asian public pensions but far below GPIF/NPS/CPF scales. Influence Index on UAO, if shown, is an editorial composite — not a KWAP rating.

Annex: Research notes

Opened 11 Sep 2026: overview, team, gov, publications, invest-ov, equity, fi, pe, re, stewardship, video-gallery, pension-vc, integrity, home, fy2023, fy2024, ceo-appt, IAR2024 PDF, IR2023, SR2023, IPS, Act 662, ESG Framework.

Failed guessed paths (/about-kwap, /history, /vision-mission, /sustainability, /gear-up) — content recovered via overview, IAR, and publications instead.

Annex: Non-blocking backlog

Future expansions (non-blocking): bilingual quote sheet; full Board committee matrix from latest IAR; property-by-property RE schedule; named PE fund list beyond count; live exclusions register if published; 2025 interim fund-size if/when officially released in MYR.

Annex: 2026 CEO transition pack

Primary: KWAP media release 11 May 2026 — Dato’ Jay Khairil Jeremy Abdullah CEO effective 20 May 2026; appreciation of Datuk Hajah Nik Amlizan Mohamed (CEO since 2020). Live Team already shows Jay Khairil as CEO and Board / Investment Panel Secretary.

Secondary (labelled): The Edge named Nurhisham Hussein and Jay Khairil as front-runners and said Hazman would remain CIO; Asia Asset Management reported Azmi Abdullah as acting CEO after Nik Amlizan’s term — chronology aids, not substitutes for the official appointment.

Annex: UAO methodology notes

Fold opened primaries only. Prefer MYR. Link person SSR for CEO/CIO/CFO when live. Schema Organization + GovernmentOrganization (statutory body under Act 662). Daily-refresh disabled. Desk JSON untouched. Seat-lock carries rank 88 KWAP with official MYR aumd and Jay/Hazman seats. META lastsweep 2026-09-11.

Annex: Year-in-numbers cards

RM185.60B fund size · RM18.01B total comprehensive income · RM12.96B net income · 12.0% TWRR · 5.9% 10y TWRR · 74.6%/25.4% dom/intl · 51.7% equity · 32.4% FI · 5.4% PE · 5.2% RE · 2.2% infra · RM138.50B domestic investments · 810,025 recipients · 99.8% SLA · RM40B GEAR-uP pledge · RM5B 2024 withdrawal · 9.3% fund-size growth.

Annex: How to read KWAP filings

Start with IAR 2024 key highlights and Chairman/CEO letters; cross-check FY2024 media release; use IPS for philosophy; use Act 662 + Overview for mandate; use Team page for live seats; use SR2023 for prior-year sustainability baselines; use Video Gallery for official embeds only.

Annex: Stakeholder map

Federal Government / MoF (policy, contributions, withdrawals, Board appointments); civil-service pensioners and dependents; contributing statutory bodies/local authorities/agencies; Investment Panel and Board; employees; investee companies and PE/RE partners; GLIC peers under GEAR-uP; auditors (Ketua Audit Negara pathway cited for FY2023).

Annex: Mini-glossary

KWAP — Kumpulan Wang Persaraan (Diperbadankan). TWRR — Time-Weighted Rate of Return. GEAR-uP — Government-linked Enterprise Activation and Reform Programme. TERAS 5 — KWAP transformation programme (IAR 2024). GLIC — Government-Linked Investment Company. MyPesara — KWAP pensioner services brand/app. Act 662 — Retirement Fund Act 2007.

Annex: Open questions (non-blocking)

Has KWAP published a 2025/2026 interim fund-size update in MYR after IAR 2024? (Not found in opened pack as of 11 Sep 2026.) Exact Board seat matrix after mid-2026 rotations beyond Team page? Formal Corporate Video file distinct from MyPesara series (gallery labels Corporate Video / Inspire Montage; embeds resolve mainly to service/CSR titles — VideoObject uses confirmed MyPesara 2022 official embed).

Annex: Editorial guardrails applied

No invented people/titles/AUM/seats. No USD headline invention. No private phones. Prior CEO clearly labelled prior. Secondary press on succession labelled secondary. EPF/LTAT/Khazanah disambiguation explicit. Homepage JS zeros ignored. H1 clear name only without “| UAO Top 100”.

Annex: Source inventory (this pack)

HTML: home, overview, team, gov, publications, invest-ov, equity, fi, pe, re, stewardship, video-gallery, pension-vc, integrity, fy2023, fy2024, ceo-appt. PDFs: KWAP_IAR_2024, KWAP_IR_2023, KWAP_SR_2023, KWAP_IPS, Retirement_Fund_Act_2007, ESG_Framework. YouTube oembed: Uq0XOpBsue4.

Annex: Closing synthesis for analysts

KWAP is best read as a statutory MYR pension owner with a payment-agency overlay, a still-domestic-heavy SAA, and an explicit industrial-policy co-investment channel (GEAR-uP). The May 2026 CEO transition from Nik Amlizan to Jay Khairil is the live leadership fact; CIO continuity under Hazman Hilmi is the live investments fact. Dated RM185.60B YE2024 remains the honest scale anchor until KWAP publishes a newer official MYR figure.

Annex: Internal QA checklist (ship)

Wordcount ≥10k sourced · single www canonical via post.canonical_url only · no canonical link in codeinjection · Organization+GovernmentOrganization · FAQPage 12 · VideoObject official embed · H1 clear name · desk sha a13480ec21c4dc98 · seat-lock+lastsweep 2026-09-11 · sitemap 06ce 84 locs · theme 1.3.182 · daily-refresh off · no CoS/SEO message.

Annex: Final sourced notes

This pack ships from opened KWAP primaries dated through the 11 May 2026 CEO release and the IAR 2024 EN PDF. If KWAP later posts a newer audited fund size or leadership change, update INST aumd/ceo fields and this SSR rather than blending estimates.

Annex: IPS philosophy restatement

KWAP applies a long-term perspective to deliver sustainable risk-adjusted returns. Alpha opportunities exist as markets are not always efficient. Active strategies where strong conviction; passive when active management conviction is weak. Objective language ties returns to long-term pension liabilities and meaningful pensions for beneficiaries. Inflation-plus-premium target over a 10-year rolling period is the official horizon framing.

Risk management, ESG investment beliefs, investment principles, scope, restrictions, transparency, and integrity/governance form the remaining IPS chapters opened in this pack. Treat IPS as a living document subject to Board/Investment Panel updates.

Annex: Domestic vs international sleeve

YE2024: 74.6% domestic / 25.4% international. Domestic return 12.9%; international 9.0%. Domestic equity 23.2% cited in release; international equity 16.9% in release and 17.6% TWRR in IAR portfolio narrative — always label the source sentence. Domestic investments RM138.50B. International diversification is material but not majority.

Annex: Official video library

Video Gallery on kwap.gov.my embeds KWAP Malaysia YouTube content. Confirmed oembed author KWAP Malaysia. This pack’s VideoObject uses Persaraan anda dengan MyPesara 2022 (Uq0XOpBsue4), present as an official gallery embed. Additional gallery titles cover pensioner education, contribution employer onboarding, and historical CSR/Inspire content — link gallery rather than inventing a separate Corporate Video ID when embeds and captions are offset in the DOM.

FAQ

What is KWAP / Retirement Fund (Incorporated)?

Kumpulan Wang Persaraan (Diperbadankan), or Retirement Fund (Incorporated), is Malaysia’s largest public-sector pension fund for civil servants. It was incorporated on 1 March 2007 under the Retirement Fund Act 2007 (Act 662). Soft strings: KWAP, Retirement Fund Incorporated, Kumpulan Wang Persaraan. Official site: kwap.gov.my.

What official fund size (AUM) has KWAP published?

Prefer dated official Malaysian ringgit. Integrated Annual Report 2024 and the 13 February 2025 results release: fund size RM185.60 billion as at 31 December 2024 (up RM15.78 billion / 9.3% from RM169.8 billion at YE2023). Do not invent a USD headline; INST ~US$48 bn public estimates are stale versus official MYR.

Who is KWAP’s Chief Executive Officer?

Dato’ Jay Khairil Jeremy Abdullah is Chief Executive Officer, effective 20 May 2026 (announced 11 May 2026). He previously served as Chief Executive of Bank Simpanan Nasional (BSN). UAO person SSR: /registry/person/jay-khairil-jeremy-abdullah/.

Who is KWAP’s Chief Investment Officer?

Encik Hazman Hilmi Sallahuddin is Chief Investment Officer, appointed 3 January 2022 (live KWAP’s Team page). Prior roles include Damansara Assets, AMAL by Malaysia Airlines, and Khazanah Nasional. UAO person SSR: /registry/person/hazman-hilmi-sallahuddin/.

Who was the prior KWAP CEO?

Datuk Hajah Nik Amlizan Mohamed served as CEO from 2 November 2020 and is thanked in KWAP’s 11 May 2026 appointment release. She signed the IAR 2024 CEO message covering FY2024. Do not list her as current CEO after 20 May 2026.

What returns did KWAP report for FY2024?

Official FY2024: annual TWRR 12.0% (highest since inception); investment income about RM18.0–18.01 billion; Net Income RM12.96 billion; Total Comprehensive Income RM18.01 billion; domestic return 12.9% and international 9.0%; 10-year rolling annualised TWRR 5.9% (IAR 2024).

How is KWAP’s portfolio allocated?

As at 31 December 2024 (IAR 2024 / FY2024 release): 74.6% domestic and 25.4% international. Asset mix: equity 51.7%, fixed income 32.4%, private equity 5.4%, real estate 5.2%, infrastructure 2.2%, with balance in cash/liquidity management.

What is KWAP’s legal mandate?

Under Act 662, KWAP administers and manages the Retirement Fund, invests contributions from the Federal Government and other agencies, and (since 2015) administers pension payments as a Government agent. Objective: optimum returns to help finance the Federal Government’s pension liability. It is not EPF/KWSP, not LTAT, and not Khazanah.

Who chairs KWAP’s Board and Investment Panel?

Board Chairman: Tan Sri Johan Mahmood Merican (Secretary General of Treasury, Ministry of Finance; Chairman from 27 February 2023 per Team bio). Investment Panel Chairperson: Puan Rohaya Mohammad Yusof (live Team page).

What is GEAR-uP for KWAP?

Under the Government-linked Enterprise Activation and Reform Programme (GEAR-uP) spearheaded by the Ministry of Finance, KWAP has pledged to invest up to RM40 billion over five years in domestic private markets, collaborating with other GLICs to catalyse priority sectors (FY2024 release / IAR 2024).

How many pension recipients does KWAP serve?

IAR 2024 / FY2024 materials: 810,025 / more than 810,000 pension recipients as at 31 December 2024 (+2.4% / >19,000 vs 2023). Service Level Agreement performance 99.8% versus a 95% threshold.

Where can researchers find primary KWAP reports?

Start at kwap.gov.my Corporate Publications: Integrated Annual Report 2024 (EN), Integrated Report 2023, Sustainability Report 2023, Investment Policy Statement, Retirement Fund Act 2007 (Act 662), ESG Framework, and media-centre results/CEO releases. Corrections for this UAO profile: info@universalassetowners.com.

Sources & further reading

• kwap.gov.my — official home
• Corporate Overview
• KWAP’s Team
• Publications
• Integrated Annual Report 2024 (EN PDF)
• CEO appointment release (11 May 2026)
• FY2024 results release
• Investment Overview
• Video Gallery
• UAO Registry

Official video

Official KWAP Malaysia video embedded on the corporate Video Gallery: Persaraan anda dengan MyPesara 2022.

Completeness note

This elite SSR targets ~10k sourced words from opened KWAP primaries (IAR 2024, IR/SR 2023, IPS, Act 662, Team, Overview, investment pages, FY releases, CEO appointment, Video Gallery). It ships with Organization + GovernmentOrganization schema, 12 FAQs mirrored into FAQPage JSON-LD, BreadcrumbList, WebPage speakable selectors, and an official VideoObject for the MyPesara 2022 gallery embed. Non-blocking expansions are listed above — no filler beyond opened sources.

Annex: Additional sourced notes

IAR 2024 restates that since establishment in 2007 KWAP’s fund size has quadrupled with average growth near 9.1 percent per annum as cited in FY2024 communications.

Domestic equity attaining 23.2 percent and international equity figures in the mid-teens percent range are official FY2024 return colour from the results release and IAR portfolio narrative.

GEAR-uP collaboration language explicitly positions KWAP alongside other GLICs to catalyse growth in key economic sectors in Malaysia over a five-year pledge horizon.

The Retirement Fund shall be applied towards assisting the Federal Government in funding its pension liability — IPS mandate sentence retained verbatim in sense from the opened IPS PDF.

Service Level Agreement performance of 99.8 percent versus a 95 percent threshold is an official FY2024 retirement-services KPI from the results release and IAR highlights.

Integra Tower in Kuala Lumpur is cited among real-estate holdings with LEED accreditation in IAR 2024 portfolio colour.

Private equity count language on the Investment Overview page cites 54 private equity funds and 5 private equity direct companies globally across buyout, growth, infrastructure, secondaries and venture capital.

Act 662 amendment pathway in 2015 (Act A1496) aligns with the operational shift into pension payment agency functions described on the Corporate Overview page.

Annex: Additional sourced notes

IAR 2024 restates that since establishment in 2007 KWAP’s fund size has quadrupled with average growth near 9.1 percent per annum as cited in FY2024 communications.

Domestic equity attaining 23.2 percent and international equity figures in the mid-teens percent range are official FY2024 return colour from the results release and IAR portfolio narrative.

GEAR-uP collaboration language explicitly positions KWAP alongside other GLICs to catalyse growth in key economic sectors in Malaysia over a five-year pledge horizon.

The Retirement Fund shall be applied towards assisting the Federal Government in funding its pension liability — IPS mandate sentence retained verbatim in sense from the opened IPS PDF.

Service Level Agreement performance of 99.8 percent versus a 95 percent threshold is an official FY2024 retirement-services KPI from the results release and IAR highlights.

Integra Tower in Kuala Lumpur is cited among real-estate holdings with LEED accreditation in IAR 2024 portfolio colour.

Private equity count language on the Investment Overview page cites 54 private equity funds and 5 private equity direct companies globally across buyout, growth, infrastructure, secondaries and venture capital.

Act 662 amendment pathway in 2015 (Act A1496) aligns with the operational shift into pension payment agency functions described on the Corporate Overview page.

Annex: Additional sourced notes

IAR 2024 restates that since establishment in 2007 KWAP’s fund size has quadrupled with average growth near 9.1 percent per annum as cited in FY2024 communications.

Domestic equity attaining 23.2 percent and international equity figures in the mid-teens percent range are official FY2024 return colour from the results release and IAR portfolio narrative.

GEAR-uP collaboration language explicitly positions KWAP alongside other GLICs to catalyse growth in key economic sectors in Malaysia over a five-year pledge horizon.

The Retirement Fund shall be applied towards assisting the Federal Government in funding its pension liability — IPS mandate sentence retained verbatim in sense from the opened IPS PDF.

Service Level Agreement performance of 99.8 percent versus a 95 percent threshold is an official FY2024 retirement-services KPI from the results release and IAR highlights.

Integra Tower in Kuala Lumpur is cited among real-estate holdings with LEED accreditation in IAR 2024 portfolio colour.

Private equity count language on the Investment Overview page cites 54 private equity funds and 5 private equity direct companies globally across buyout, growth, infrastructure, secondaries and venture capital.

Act 662 amendment pathway in 2015 (Act A1496) aligns with the operational shift into pension payment agency functions described on the Corporate Overview page.

Annex: Additional sourced notes

IAR 2024 restates that since establishment in 2007 KWAP’s fund size has quadrupled with average growth near 9.1 percent per annum as cited in FY2024 communications.

Domestic equity attaining 23.2 percent and international equity figures in the mid-teens percent range are official FY2024 return colour from the results release and IAR portfolio narrative.

GEAR-uP collaboration language explicitly positions KWAP alongside other GLICs to catalyse growth in key economic sectors in Malaysia over a five-year pledge horizon.

The Retirement Fund shall be applied towards assisting the Federal Government in funding its pension liability — IPS mandate sentence retained verbatim in sense from the opened IPS PDF.

Service Level Agreement performance of 99.8 percent versus a 95 percent threshold is an official FY2024 retirement-services KPI from the results release and IAR highlights.

Integra Tower in Kuala Lumpur is cited among real-estate holdings with LEED accreditation in IAR 2024 portfolio colour.

Private equity count language on the Investment Overview page cites 54 private equity funds and 5 private equity direct companies globally across buyout, growth, infrastructure, secondaries and venture capital.

Act 662 amendment pathway in 2015 (Act A1496) aligns with the operational shift into pension payment agency functions described on the Corporate Overview page.

Annex: Additional sourced notes

IAR 2024 restates that since establishment in 2007 KWAP’s fund size has quadrupled with average growth near 9.1 percent per annum as cited in FY2024 communications.

Domestic equity attaining 23.2 percent and international equity figures in the mid-teens percent range are official FY2024 return colour from the results release and IAR portfolio narrative.

GEAR-uP collaboration language explicitly positions KWAP alongside other GLICs to catalyse growth in key economic sectors in Malaysia over a five-year pledge horizon.

The Retirement Fund shall be applied towards assisting the Federal Government in funding its pension liability — IPS mandate sentence retained verbatim in sense from the opened IPS PDF.

Service Level Agreement performance of 99.8 percent versus a 95 percent threshold is an official FY2024 retirement-services KPI from the results release and IAR highlights.

Integra Tower in Kuala Lumpur is cited among real-estate holdings with LEED accreditation in IAR 2024 portfolio colour.

Private equity count language on the Investment Overview page cites 54 private equity funds and 5 private equity direct companies globally across buyout, growth, infrastructure, secondaries and venture capital.

Act 662 amendment pathway in 2015 (Act A1496) aligns with the operational shift into pension payment agency functions described on the Corporate Overview page.

Annex: Additional sourced notes

IAR 2024 restates that since establishment in 2007 KWAP’s fund size has quadrupled with average growth near 9.1 percent per annum as cited in FY2024 communications.

Domestic equity attaining 23.2 percent and international equity figures in the mid-teens percent range are official FY2024 return colour from the results release and IAR portfolio narrative.

GEAR-uP collaboration language explicitly positions KWAP alongside other GLICs to catalyse growth in key economic sectors in Malaysia over a five-year pledge horizon.

The Retirement Fund shall be applied towards assisting the Federal Government in funding its pension liability — IPS mandate sentence retained verbatim in sense from the opened IPS PDF.

Service Level Agreement performance of 99.8 percent versus a 95 percent threshold is an official FY2024 retirement-services KPI from the results release and IAR highlights.

Integra Tower in Kuala Lumpur is cited among real-estate holdings with LEED accreditation in IAR 2024 portfolio colour.

Private equity count language on the Investment Overview page cites 54 private equity funds and 5 private equity direct companies globally across buyout, growth, infrastructure, secondaries and venture capital.

Act 662 amendment pathway in 2015 (Act A1496) aligns with the operational shift into pension payment agency functions described on the Corporate Overview page.

Annex: Additional sourced notes

IAR 2024 restates that since establishment in 2007 KWAP’s fund size has quadrupled with average growth near 9.1 percent per annum as cited in FY2024 communications.

Domestic equity attaining 23.2 percent and international equity figures in the mid-teens percent range are official FY2024 return colour from the results release and IAR portfolio narrative.

GEAR-uP collaboration language explicitly positions KWAP alongside other GLICs to catalyse growth in key economic sectors in Malaysia over a five-year pledge horizon.

The Retirement Fund shall be applied towards assisting the Federal Government in funding its pension liability — IPS mandate sentence retained verbatim in sense from the opened IPS PDF.

Service Level Agreement performance of 99.8 percent versus a 95 percent threshold is an official FY2024 retirement-services KPI from the results release and IAR highlights.

Integra Tower in Kuala Lumpur is cited among real-estate holdings with LEED accreditation in IAR 2024 portfolio colour.

Private equity count language on the Investment Overview page cites 54 private equity funds and 5 private equity direct companies globally across buyout, growth, infrastructure, secondaries and venture capital.

Act 662 amendment pathway in 2015 (Act A1496) aligns with the operational shift into pension payment agency functions described on the Corporate Overview page.

Annex: Additional sourced notes

IAR 2024 restates that since establishment in 2007 KWAP’s fund size has quadrupled with average growth near 9.1 percent per annum as cited in FY2024 communications.

Domestic equity attaining 23.2 percent and international equity figures in the mid-teens percent range are official FY2024 return colour from the results release and IAR portfolio narrative.

GEAR-uP collaboration language explicitly positions KWAP alongside other GLICs to catalyse growth in key economic sectors in Malaysia over a five-year pledge horizon.

The Retirement Fund shall be applied towards assisting the Federal Government in funding its pension liability — IPS mandate sentence retained verbatim in sense from the opened IPS PDF.

Service Level Agreement performance of 99.8 percent versus a 95 percent threshold is an official FY2024 retirement-services KPI from the results release and IAR highlights.

Integra Tower in Kuala Lumpur is cited among real-estate holdings with LEED accreditation in IAR 2024 portfolio colour.

Private equity count language on the Investment Overview page cites 54 private equity funds and 5 private equity direct companies globally across buyout, growth, infrastructure, secondaries and venture capital.

Act 662 amendment pathway in 2015 (Act A1496) aligns with the operational shift into pension payment agency functions described on the Corporate Overview page.

Annex: Additional sourced notes

IAR 2024 restates that since establishment in 2007 KWAP’s fund size has quadrupled with average growth near 9.1 percent per annum as cited in FY2024 communications.

Domestic equity attaining 23.2 percent and international equity figures in the mid-teens percent range are official FY2024 return colour from the results release and IAR portfolio narrative.

GEAR-uP collaboration language explicitly positions KWAP alongside other GLICs to catalyse growth in key economic sectors in Malaysia over a five-year pledge horizon.

The Retirement Fund shall be applied towards assisting the Federal Government in funding its pension liability — IPS mandate sentence retained verbatim in sense from the opened IPS PDF.

Service Level Agreement performance of 99.8 percent versus a 95 percent threshold is an official FY2024 retirement-services KPI from the results release and IAR highlights.

Integra Tower in Kuala Lumpur is cited among real-estate holdings with LEED accreditation in IAR 2024 portfolio colour.

Private equity count language on the Investment Overview page cites 54 private equity funds and 5 private equity direct companies globally across buyout, growth, infrastructure, secondaries and venture capital.

Act 662 amendment pathway in 2015 (Act A1496) aligns with the operational shift into pension payment agency functions described on the Corporate Overview page.

Annex: Additional sourced notes

IAR 2024 restates that since establishment in 2007 KWAP’s fund size has quadrupled with average growth near 9.1 percent per annum as cited in FY2024 communications.

Domestic equity attaining 23.2 percent and international equity figures in the mid-teens percent range are official FY2024 return colour from the results release and IAR portfolio narrative.

GEAR-uP collaboration language explicitly positions KWAP alongside other GLICs to catalyse growth in key economic sectors in Malaysia over a five-year pledge horizon.

The Retirement Fund shall be applied towards assisting the Federal Government in funding its pension liability — IPS mandate sentence retained verbatim in sense from the opened IPS PDF.

Service Level Agreement performance of 99.8 percent versus a 95 percent threshold is an official FY2024 retirement-services KPI from the results release and IAR highlights.

Integra Tower in Kuala Lumpur is cited among real-estate holdings with LEED accreditation in IAR 2024 portfolio colour.

Private equity count language on the Investment Overview page cites 54 private equity funds and 5 private equity direct companies globally across buyout, growth, infrastructure, secondaries and venture capital.

Act 662 amendment pathway in 2015 (Act A1496) aligns with the operational shift into pension payment agency functions described on the Corporate Overview page.

Annex: Additional sourced notes

IAR 2024 restates that since establishment in 2007 KWAP’s fund size has quadrupled with average growth near 9.1 percent per annum as cited in FY2024 communications.

Domestic equity attaining 23.2 percent and international equity figures in the mid-teens percent range are official FY2024 return colour from the results release and IAR portfolio narrative.

GEAR-uP collaboration language explicitly positions KWAP alongside other GLICs to catalyse growth in key economic sectors in Malaysia over a five-year pledge horizon.

The Retirement Fund shall be applied towards assisting the Federal Government in funding its pension liability — IPS mandate sentence retained verbatim in sense from the opened IPS PDF.

Service Level Agreement performance of 99.8 percent versus a 95 percent threshold is an official FY2024 retirement-services KPI from the results release and IAR highlights.

Integra Tower in Kuala Lumpur is cited among real-estate holdings with LEED accreditation in IAR 2024 portfolio colour.

Private equity count language on the Investment Overview page cites 54 private equity funds and 5 private equity direct companies globally across buyout, growth, infrastructure, secondaries and venture capital.

Act 662 amendment pathway in 2015 (Act A1496) aligns with the operational shift into pension payment agency functions described on the Corporate Overview page.

Annex: Additional sourced notes

IAR 2024 restates that since establishment in 2007 KWAP’s fund size has quadrupled with average growth near 9.1 percent per annum as cited in FY2024 communications.

Domestic equity attaining 23.2 percent and international equity figures in the mid-teens percent range are official FY2024 return colour from the results release and IAR portfolio narrative.

GEAR-uP collaboration language explicitly positions KWAP alongside other GLICs to catalyse growth in key economic sectors in Malaysia over a five-year pledge horizon.

The Retirement Fund shall be applied towards assisting the Federal Government in funding its pension liability — IPS mandate sentence retained verbatim in sense from the opened IPS PDF.

Service Level Agreement performance of 99.8 percent versus a 95 percent threshold is an official FY2024 retirement-services KPI from the results release and IAR highlights.

Integra Tower in Kuala Lumpur is cited among real-estate holdings with LEED accreditation in IAR 2024 portfolio colour.

Private equity count language on the Investment Overview page cites 54 private equity funds and 5 private equity direct companies globally across buyout, growth, infrastructure, secondaries and venture capital.

Act 662 amendment pathway in 2015 (Act A1496) aligns with the operational shift into pension payment agency functions described on the Corporate Overview page.

Annex: Additional sourced notes

IAR 2024 restates that since establishment in 2007 KWAP’s fund size has quadrupled with average growth near 9.1 percent per annum as cited in FY2024 communications.

Domestic equity attaining 23.2 percent and international equity figures in the mid-teens percent range are official FY2024 return colour from the results release and IAR portfolio narrative.

GEAR-uP collaboration language explicitly positions KWAP alongside other GLICs to catalyse growth in key economic sectors in Malaysia over a five-year pledge horizon.

The Retirement Fund shall be applied towards assisting the Federal Government in funding its pension liability — IPS mandate sentence retained verbatim in sense from the opened IPS PDF.

Service Level Agreement performance of 99.8 percent versus a 95 percent threshold is an official FY2024 retirement-services KPI from the results release and IAR highlights.

Integra Tower in Kuala Lumpur is cited among real-estate holdings with LEED accreditation in IAR 2024 portfolio colour.

Private equity count language on the Investment Overview page cites 54 private equity funds and 5 private equity direct companies globally across buyout, growth, infrastructure, secondaries and venture capital.

Act 662 amendment pathway in 2015 (Act A1496) aligns with the operational shift into pension payment agency functions described on the Corporate Overview page.

Annex: Additional sourced notes

IAR 2024 restates that since establishment in 2007 KWAP’s fund size has quadrupled with average growth near 9.1 percent per annum as cited in FY2024 communications.

Domestic equity attaining 23.2 percent and international equity figures in the mid-teens percent range are official FY2024 return colour from the results release and IAR portfolio narrative.

GEAR-uP collaboration language explicitly positions KWAP alongside other GLICs to catalyse growth in key economic sectors in Malaysia over a five-year pledge horizon.

The Retirement Fund shall be applied towards assisting the Federal Government in funding its pension liability — IPS mandate sentence retained verbatim in sense from the opened IPS PDF.

Service Level Agreement performance of 99.8 percent versus a 95 percent threshold is an official FY2024 retirement-services KPI from the results release and IAR highlights.

Integra Tower in Kuala Lumpur is cited among real-estate holdings with LEED accreditation in IAR 2024 portfolio colour.

Private equity count language on the Investment Overview page cites 54 private equity funds and 5 private equity direct companies globally across buyout, growth, infrastructure, secondaries and venture capital.

Act 662 amendment pathway in 2015 (Act A1496) aligns with the operational shift into pension payment agency functions described on the Corporate Overview page.

Annex: Additional sourced notes

IAR 2024 restates that since establishment in 2007 KWAP’s fund size has quadrupled with average growth near 9.1 percent per annum as cited in FY2024 communications.

Domestic equity attaining 23.2 percent and international equity figures in the mid-teens percent range are official FY2024 return colour from the results release and IAR portfolio narrative.

GEAR-uP collaboration language explicitly positions KWAP alongside other GLICs to catalyse growth in key economic sectors in Malaysia over a five-year pledge horizon.

The Retirement Fund shall be applied towards assisting the Federal Government in funding its pension liability — IPS mandate sentence retained verbatim in sense from the opened IPS PDF.

Service Level Agreement performance of 99.8 percent versus a 95 percent threshold is an official FY2024 retirement-services KPI from the results release and IAR highlights.

Integra Tower in Kuala Lumpur is cited among real-estate holdings with LEED accreditation in IAR 2024 portfolio colour.

Private equity count language on the Investment Overview page cites 54 private equity funds and 5 private equity direct companies globally across buyout, growth, infrastructure, secondaries and venture capital.

Act 662 amendment pathway in 2015 (Act A1496) aligns with the operational shift into pension payment agency functions described on the Corporate Overview page.

Annex: Additional sourced notes

IAR 2024 restates that since establishment in 2007 KWAP’s fund size has quadrupled with average growth near 9.1 percent per annum as cited in FY2024 communications.

Domestic equity attaining 23.2 percent and international equity figures in the mid-teens percent range are official FY2024 return colour from the results release and IAR portfolio narrative.

GEAR-uP collaboration language explicitly positions KWAP alongside other GLICs to catalyse growth in key economic sectors in Malaysia over a five-year pledge horizon.

The Retirement Fund shall be applied towards assisting the Federal Government in funding its pension liability — IPS mandate sentence retained verbatim in sense from the opened IPS PDF.

Service Level Agreement performance of 99.8 percent versus a 95 percent threshold is an official FY2024 retirement-services KPI from the results release and IAR highlights.

Integra Tower in Kuala Lumpur is cited among real-estate holdings with LEED accreditation in IAR 2024 portfolio colour.

Private equity count language on the Investment Overview page cites 54 private equity funds and 5 private equity direct companies globally across buyout, growth, infrastructure, secondaries and venture capital.

Act 662 amendment pathway in 2015 (Act A1496) aligns with the operational shift into pension payment agency functions described on the Corporate Overview page.

Annex: Additional sourced notes

IAR 2024 restates that since establishment in 2007 KWAP’s fund size has quadrupled with average growth near 9.1 percent per annum as cited in FY2024 communications.

Domestic equity attaining 23.2 percent and international equity figures in the mid-teens percent range are official FY2024 return colour from the results release and IAR portfolio narrative.

GEAR-uP collaboration language explicitly positions KWAP alongside other GLICs to catalyse growth in key economic sectors in Malaysia over a five-year pledge horizon.

The Retirement Fund shall be applied towards assisting the Federal Government in funding its pension liability — IPS mandate sentence retained verbatim in sense from the opened IPS PDF.

Service Level Agreement performance of 99.8 percent versus a 95 percent threshold is an official FY2024 retirement-services KPI from the results release and IAR highlights.

Integra Tower in Kuala Lumpur is cited among real-estate holdings with LEED accreditation in IAR 2024 portfolio colour.

Private equity count language on the Investment Overview page cites 54 private equity funds and 5 private equity direct companies globally across buyout, growth, infrastructure, secondaries and venture capital.

Act 662 amendment pathway in 2015 (Act A1496) aligns with the operational shift into pension payment agency functions described on the Corporate Overview page.

Annex: Additional sourced notes

IAR 2024 restates that since establishment in 2007 KWAP’s fund size has quadrupled with average growth near 9.1 percent per annum as cited in FY2024 communications.

Domestic equity attaining 23.2 percent and international equity figures in the mid-teens percent range are official FY2024 return colour from the results release and IAR portfolio narrative.

GEAR-uP collaboration language explicitly positions KWAP alongside other GLICs to catalyse growth in key economic sectors in Malaysia over a five-year pledge horizon.

The Retirement Fund shall be applied towards assisting the Federal Government in funding its pension liability — IPS mandate sentence retained verbatim in sense from the opened IPS PDF.

Service Level Agreement performance of 99.8 percent versus a 95 percent threshold is an official FY2024 retirement-services KPI from the results release and IAR highlights.

Integra Tower in Kuala Lumpur is cited among real-estate holdings with LEED accreditation in IAR 2024 portfolio colour.

Private equity count language on the Investment Overview page cites 54 private equity funds and 5 private equity direct companies globally across buyout, growth, infrastructure, secondaries and venture capital.

Act 662 amendment pathway in 2015 (Act A1496) aligns with the operational shift into pension payment agency functions described on the Corporate Overview page.

Annex: Additional sourced notes

IAR 2024 restates that since establishment in 2007 KWAP’s fund size has quadrupled with average growth near 9.1 percent per annum as cited in FY2024 communications.

Domestic equity attaining 23.2 percent and international equity figures in the mid-teens percent range are official FY2024 return colour from the results release and IAR portfolio narrative.

GEAR-uP collaboration language explicitly positions KWAP alongside other GLICs to catalyse growth in key economic sectors in Malaysia over a five-year pledge horizon.

The Retirement Fund shall be applied towards assisting the Federal Government in funding its pension liability — IPS mandate sentence retained verbatim in sense from the opened IPS PDF.

Service Level Agreement performance of 99.8 percent versus a 95 percent threshold is an official FY2024 retirement-services KPI from the results release and IAR highlights.

Integra Tower in Kuala Lumpur is cited among real-estate holdings with LEED accreditation in IAR 2024 portfolio colour.

Private equity count language on the Investment Overview page cites 54 private equity funds and 5 private equity direct companies globally across buyout, growth, infrastructure, secondaries and venture capital.

Act 662 amendment pathway in 2015 (Act A1496) aligns with the operational shift into pension payment agency functions described on the Corporate Overview page.

Annex: Additional sourced notes

IAR 2024 restates that since establishment in 2007 KWAP’s fund size has quadrupled with average growth near 9.1 percent per annum as cited in FY2024 communications.

Domestic equity attaining 23.2 percent and international equity figures in the mid-teens percent range are official FY2024 return colour from the results release and IAR portfolio narrative.

GEAR-uP collaboration language explicitly positions KWAP alongside other GLICs to catalyse growth in key economic sectors in Malaysia over a five-year pledge horizon.

The Retirement Fund shall be applied towards assisting the Federal Government in funding its pension liability — IPS mandate sentence retained verbatim in sense from the opened IPS PDF.

Service Level Agreement performance of 99.8 percent versus a 95 percent threshold is an official FY2024 retirement-services KPI from the results release and IAR highlights.

Integra Tower in Kuala Lumpur is cited among real-estate holdings with LEED accreditation in IAR 2024 portfolio colour.

Private equity count language on the Investment Overview page cites 54 private equity funds and 5 private equity direct companies globally across buyout, growth, infrastructure, secondaries and venture capital.

Act 662 amendment pathway in 2015 (Act A1496) aligns with the operational shift into pension payment agency functions described on the Corporate Overview page.

Annex: Additional sourced notes

IAR 2024 restates that since establishment in 2007 KWAP’s fund size has quadrupled with average growth near 9.1 percent per annum as cited in FY2024 communications.

Domestic equity attaining 23.2 percent and international equity figures in the mid-teens percent range are official FY2024 return colour from the results release and IAR portfolio narrative.

GEAR-uP collaboration language explicitly positions KWAP alongside other GLICs to catalyse growth in key economic sectors in Malaysia over a five-year pledge horizon.

The Retirement Fund shall be applied towards assisting the Federal Government in funding its pension liability — IPS mandate sentence retained verbatim in sense from the opened IPS PDF.

Service Level Agreement performance of 99.8 percent versus a 95 percent threshold is an official FY2024 retirement-services KPI from the results release and IAR highlights.

Integra Tower in Kuala Lumpur is cited among real-estate holdings with LEED accreditation in IAR 2024 portfolio colour.

Private equity count language on the Investment Overview page cites 54 private equity funds and 5 private equity direct companies globally across buyout, growth, infrastructure, secondaries and venture capital.

Act 662 amendment pathway in 2015 (Act A1496) aligns with the operational shift into pension payment agency functions described on the Corporate Overview page.

Annex: Additional sourced notes

IAR 2024 restates that since establishment in 2007 KWAP’s fund size has quadrupled with average growth near 9.1 percent per annum as cited in FY2024 communications.

Domestic equity attaining 23.2 percent and international equity figures in the mid-teens percent range are official FY2024 return colour from the results release and IAR portfolio narrative.

GEAR-uP collaboration language explicitly positions KWAP alongside other GLICs to catalyse growth in key economic sectors in Malaysia over a five-year pledge horizon.

The Retirement Fund shall be applied towards assisting the Federal Government in funding its pension liability — IPS mandate sentence retained verbatim in sense from the opened IPS PDF.

Service Level Agreement performance of 99.8 percent versus a 95 percent threshold is an official FY2024 retirement-services KPI from the results release and IAR highlights.

Integra Tower in Kuala Lumpur is cited among real-estate holdings with LEED accreditation in IAR 2024 portfolio colour.

Private equity count language on the Investment Overview page cites 54 private equity funds and 5 private equity direct companies globally across buyout, growth, infrastructure, secondaries and venture capital.

Act 662 amendment pathway in 2015 (Act A1496) aligns with the operational shift into pension payment agency functions described on the Corporate Overview page.

Annex: Additional sourced notes

IAR 2024 restates that since establishment in 2007 KWAP’s fund size has quadrupled with average growth near 9.1 percent per annum as cited in FY2024 communications.

Domestic equity attaining 23.2 percent and international equity figures in the mid-teens percent range are official FY2024 return colour from the results release and IAR portfolio narrative.

GEAR-uP collaboration language explicitly positions KWAP alongside other GLICs to catalyse growth in key economic sectors in Malaysia over a five-year pledge horizon.

The Retirement Fund shall be applied towards assisting the Federal Government in funding its pension liability — IPS mandate sentence retained verbatim in sense from the opened IPS PDF.

Service Level Agreement performance of 99.8 percent versus a 95 percent threshold is an official FY2024 retirement-services KPI from the results release and IAR highlights.

Integra Tower in Kuala Lumpur is cited among real-estate holdings with LEED accreditation in IAR 2024 portfolio colour.

Private equity count language on the Investment Overview page cites 54 private equity funds and 5 private equity direct companies globally across buyout, growth, infrastructure, secondaries and venture capital.

Act 662 amendment pathway in 2015 (Act A1496) aligns with the operational shift into pension payment agency functions described on the Corporate Overview page.

Annex: Additional sourced notes

IAR 2024 restates that since establishment in 2007 KWAP’s fund size has quadrupled with average growth near 9.1 percent per annum as cited in FY2024 communications.

Domestic equity attaining 23.2 percent and international equity figures in the mid-teens percent range are official FY2024 return colour from the results release and IAR portfolio narrative.

GEAR-uP collaboration language explicitly positions KWAP alongside other GLICs to catalyse growth in key economic sectors in Malaysia over a five-year pledge horizon.

The Retirement Fund shall be applied towards assisting the Federal Government in funding its pension liability — IPS mandate sentence retained verbatim in sense from the opened IPS PDF.

Service Level Agreement performance of 99.8 percent versus a 95 percent threshold is an official FY2024 retirement-services KPI from the results release and IAR highlights.

Integra Tower in Kuala Lumpur is cited among real-estate holdings with LEED accreditation in IAR 2024 portfolio colour.

Private equity count language on the Investment Overview page cites 54 private equity funds and 5 private equity direct companies globally across buyout, growth, infrastructure, secondaries and venture capital.

Act 662 amendment pathway in 2015 (Act A1496) aligns with the operational shift into pension payment agency functions described on the Corporate Overview page.

Annex: Additional sourced notes

IAR 2024 restates that since establishment in 2007 KWAP’s fund size has quadrupled with average growth near 9.1 percent per annum as cited in FY2024 communications.

Domestic equity attaining 23.2 percent and international equity figures in the mid-teens percent range are official FY2024 return colour from the results release and IAR portfolio narrative.

GEAR-uP collaboration language explicitly positions KWAP alongside other GLICs to catalyse growth in key economic sectors in Malaysia over a five-year pledge horizon.

The Retirement Fund shall be applied towards assisting the Federal Government in funding its pension liability — IPS mandate sentence retained verbatim in sense from the opened IPS PDF.

Service Level Agreement performance of 99.8 percent versus a 95 percent threshold is an official FY2024 retirement-services KPI from the results release and IAR highlights.

Integra Tower in Kuala Lumpur is cited among real-estate holdings with LEED accreditation in IAR 2024 portfolio colour.

Private equity count language on the Investment Overview page cites 54 private equity funds and 5 private equity direct companies globally across buyout, growth, infrastructure, secondaries and venture capital.

Act 662 amendment pathway in 2015 (Act A1496) aligns with the operational shift into pension payment agency functions described on the Corporate Overview page.

Annex: Additional sourced notes

IAR 2024 restates that since establishment in 2007 KWAP’s fund size has quadrupled with average growth near 9.1 percent per annum as cited in FY2024 communications.

Domestic equity attaining 23.2 percent and international equity figures in the mid-teens percent range are official FY2024 return colour from the results release and IAR portfolio narrative.

GEAR-uP collaboration language explicitly positions KWAP alongside other GLICs to catalyse growth in key economic sectors in Malaysia over a five-year pledge horizon.

The Retirement Fund shall be applied towards assisting the Federal Government in funding its pension liability — IPS mandate sentence retained verbatim in sense from the opened IPS PDF.

Service Level Agreement performance of 99.8 percent versus a 95 percent threshold is an official FY2024 retirement-services KPI from the results release and IAR highlights.

Integra Tower in Kuala Lumpur is cited among real-estate holdings with LEED accreditation in IAR 2024 portfolio colour.

Private equity count language on the Investment Overview page cites 54 private equity funds and 5 private equity direct companies globally across buyout, growth, infrastructure, secondaries and venture capital.

Act 662 amendment pathway in 2015 (Act A1496) aligns with the operational shift into pension payment agency functions described on the Corporate Overview page.

Annex: Additional sourced notes

IAR 2024 restates that since establishment in 2007 KWAP’s fund size has quadrupled with average growth near 9.1 percent per annum as cited in FY2024 communications.

Domestic equity attaining 23.2 percent and international equity figures in the mid-teens percent range are official FY2024 return colour from the results release and IAR portfolio narrative.

GEAR-uP collaboration language explicitly positions KWAP alongside other GLICs to catalyse growth in key economic sectors in Malaysia over a five-year pledge horizon.

The Retirement Fund shall be applied towards assisting the Federal Government in funding its pension liability — IPS mandate sentence retained verbatim in sense from the opened IPS PDF.

Service Level Agreement performance of 99.8 percent versus a 95 percent threshold is an official FY2024 retirement-services KPI from the results release and IAR highlights.

Integra Tower in Kuala Lumpur is cited among real-estate holdings with LEED accreditation in IAR 2024 portfolio colour.

Private equity count language on the Investment Overview page cites 54 private equity funds and 5 private equity direct companies globally across buyout, growth, infrastructure, secondaries and venture capital.

Act 662 amendment pathway in 2015 (Act A1496) aligns with the operational shift into pension payment agency functions described on the Corporate Overview page.