16th April 2020 - 3 min read
Bank Islam’s wholly-owned subsidiary, BIMB Investment Management Bhd, has launched its first robo-intelligence sustainable shariah-ESG investing online mobile app, the BEST Invest.
The app focuses on shariah-compliant investments that seek to positively impact the environment, society, and governance (ESG) of businesses. As such, it offers a suite of BIMB Investment’s shariah-ESG unit trust funds across asset classes that includes global equities, Asia Pacific equities, Malaysia equities, sukuk, and money market.
The BEST Invest app also lets you manage your funds according to your preferred investment style. You can either opt for the “Do It For Me” or “Do It Myself” method in the app. If you choose the “Do It For Me” function, the app will then identify and select the best investment methods, funds, and investment amount for you based on data and your risk profile. If you opt for the latter, on the other hand, you will have the freedom to build your preferred portfolio instead.
Additionally, BEST Invest also lets you start small with a minimum investment of RM10, without any sales fee. There are also no lock-in periods, which means that you can invest, switch funds, or withdraw anytime you wish to at no charge.
Setting up your BEST Invest account can be done in a few steps once you’ve downloaded the app:
According to the chairman of BIMB Investment, Mohamed Ridza Mohamed Abdulla, the BEST Invest app is the company’s answer to the evolution of the fund and wealth management space as more services get digitalised.
“Digital fund and wealth management will efficiently build and manage investments and wealth portfolios across asset classes, geographies, and economies. Robo-intelligence and big data technology will be integral in the next generation of funds and wealth management to drive consistent and reliable performance and risk management,” said Mohamed Ridza. He further added that BEST Invest was created to make investing convenient, transparent, and cost-efficient.
The chief executive officer of BIMB Investment, Najmuddin Mohd Lutfi, also emphasised that the company is a United Nations’ Principles for Responsible Investment (UNPRI) signatory, and has been focusing on ESG investments since 2015. It is currently managing more than RM1 billion of ESG investment assets. Its global shariah-ESG equity fund is also the largest global shariah equity fund in Malaysia.
BEST Invest will see itself competing with Wahed Invest, which is also a shariah-compliant robo-advisor. Headquartered in America, Wahed Invest requires a minimum investment of RM100. Unlike BEST Invest, Wahed Invest does not allow you the option to create your own portfolio if you wish to.
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Comments (1)
Saya keluar dari wahed investment Dan Masuk BIMB Investment Dan boleh pilih banyak portfolio..Dan saya harap Pihak BIMB kurangkan yuran..
Best terbaikkk