The Employees Provident Fund (EPF) has added another five platforms from six Fund Management Institutions (FMIs) to its self-service online investment facility, i-Invest. These additional platforms are expected to provide EPF members with more flexibility when they perform Members Investment Scheme (MIS) transactions through the facility.
According to the EPF, the new platforms are from the following FMIs:
- Affin Hwang Asset Management Bhd
- Kenanga Investors Bhd
- RHB Asset Management Sdn Bhd (which shares its platform with RHB Islamic International Management Bhd)
- Hong Leong Asset Management Bhd
- TA Investment Management Bhd
With the addition of these five new platforms, there are now a total of 10 platforms directly connected to i-Invest. Prior to this, i-Invest had offered five pilot platforms from Amanah Saham Nasional Bhd, Eastspring Investments Bhd, Manulife Investment Management Bhd, Principal Asset Management Bhd, and Public Mutual Bhd.
“FMIs without their own platforms offer investment products on i-Invest through the two appointed Institutional UTS Advisers (IUTAs), which are iFAST Capital Sdn Bhd and Philip Mutual Bhd,” added the EPF. IUTAs are registered corporations that are authorised to market and distribute unit trust schemes of another party.
The agency further reassured that the FMIs listed are required to comply with strict guidelines to safeguard the integrity of the investment schemes offered to its members. This also ensures that FMIs carry out their duties ethically and with competence.
To recap, i-Invest was launched in August 2019 as a digital platform that allows members to invest their EPF savings into unit trust funds from approved FMIs, directly from their EPF i-Akaun portal. Members can also conveniently transact and monitor their investments anytime and anywhere through the platform. Moreover, i-Invest enables members to compare the unit trust funds available, gain a consolidated view of their existing investments, as well as assess other vital information and historical performance data related to investment funds that are on offer.
As of 30 April 2020, i-Invest has recorded about 25,000 transactions worth RM219.3 million. The EPF also reminded that members investing through i-Invest will not be charged any upfront fee by FMIs for 12 months starting from 1 May 2020, making this a good opportunity to diversify their retirement portfolio at a lower cost.
(Source: Employees Provident Fund)