The Employees Provident Fund’s (EPF) investments in the United States are part of its global investment strategies to enable contributors to enjoy higher dividends, said Prime Minister Najib Razak.

He said EPF’s US investments has brought higher returns of 11.1% compared with the average 7% returns on local investments.

“Those who benefit (from the US investments) are employees, EPF contributors (from) your dividends. So, we must have a global strategy to invest in the US. This is nothing new, it started in 2008,” he said at the “Jom Bersama TM” event in Kuala Lumpur today.

Najib said the overseas investments would increase from time to time at the discretion of the EPF Investment Committee and not the prime minister or politicians.

“I did not direct it (EPF), but I called for the investments made to be based on best returns plus low risk. We have to balance between the two criteria.

“When we invest and get profits, we will repatriate (the money). As for the investment of Khazanah (Nasional Bhd) in AliBaba (Group), it has earned more than US$1 billion (RM4.3 billion),” he said, chiding detractors who had misled and inflamed the people on EPF’s investments in the US.

“When I was invited by President Donald Trump to the White House, I went there to represent a successful country. I was there not to kneel or ask for alms or loans from him.

“I went there to inform him that our country has the ability to become a global investor,” – Bernama, September 25, 2017.