26th October 2021 - 2 min read
The Employees Provident Fund (EPF) has upgraded its i-Invest facility with enhanced features so that members can enjoy easier access to more fund options, as well as better efficiency when investing.
Chief of all, the upgraded facility will now allow EPF members to purchase up to eight unit trust funds from a maximum of five fund management institutions (FMIs) in a single transaction. Prior to this, members were limited to a purchase of multiple unit trust funds from only one FMI in a single transaction.
Note, though, that those who wish to tap into this enhanced feature must carry out these transactions specifically through appointed institutional unit trust scheme advisors (IUTAs) that offer funds from various FMIs; it is not supported via other purchase channels. Meanwhile, members who wish to purchase funds from individual FMIs may continue to do so.
Aside from that, the EPF has also equipped the i-Invest facility with an investment suitability assessment. All i-Invest users are now required to go through an assessment prior to performing any transactions, which will then evaluate their risk tolerances. The evaluation will, in turn, assist members in making informed investment choices that correspond to their risk appetites.
The i-Invest facility was first launched back in August 2019, and sought to allow members to invest their EPF savings into unit trust funds from approved FMIs, directly from their EPF i-Akaun portal. They are also able to monitor their investments at their own convenience, compare the various funds that are on offer, as well as assess required statutory information and historical performance data.
(Source: EPF)
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