THE Covid-19-led rout in Bursa Malaysia and globally has not spared major institutional funds, such as EPF, PNB, Retirement Fund Incorporated (KWAP) and Khazanah, reports The Edge.

The four funds have lost an estimated RM55.7 billion since the start of year, according to data compiled from Bloomberg.

Employees Provident Fund’s paper loss amounts to RM24.7 billion while Permodalan Nasional Bhd’s Amanah Saham Bumiputera shrank by RM16.52 billion.

Most of the losses come from their holdings in banking stocks, such as Public Bank Bhd, which is now trading at RM13.90, its lowest level since August 2013.

EPF has lost RM5.9 billion from its holdings in three banks – Malaysia Building Society Bhd (MBSB), RHB Bank Bhd and Public Bank, said the business daily.

It also lost RM2.06 billion in CIMB and RM1.86 billion in Maybank, the two other banks in which EPF has stakes. – March 18, 2020.