ADDITIONAL FMI PLATFORMS CONNECTED TO EPF’S i-INVEST
KUALA LUMPUR, 23 June 2020: The Employees Provident Fund (EPF) has connected five additional platforms from six Fund Management Institutions (FMIs) to i-Invest, the fund’s self-service online investment facility.
The platforms are from Affin Hwang Asset Management Berhad, Kenanga Investors Berhad, RHB Asset Management Sdn Bhd (sharing its platform with RHB Islamic International Management Berhad), Hong Leong Asset Management Bhd and TA Investment Management Berhad. This will enhance EPF members’ flexibility when conducting Members Investment Scheme (MIS) transactions online, which is a core objective of i-Invest.
Up to 30 April 2020, i-Invest has recorded approximately 25,000 transactions with an overall value of RM219.3 million.
There is now a total of 10 FMI platforms directly connected to i-Invest. The previous five pilot platforms are 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 Phillip Mutual Berhad.
It was previously announced by the EPF that beginning 1 May 2020, members investing through i-Invest will not be charged any upfront fee by FMIs for a period of 12 months. This will enable members to diversify their retirement portfolio at a lower cost.
i-Invest, launched in August 2019, is a digitally powered platform that provides greater flexibility, functionality and convenience for members to invest, transact and monitor their unit trust investments anytime and anywhere. It also offers tools to compare different unit trust funds offered by FMIs, a consolidated view of members’ investment holdings, and information on cost of investment, historical fund performance, as well as required statutory information.
The EPF has strict guidelines for FMIs to comply with in order to safeguard the integrity of the MIS and the best interest of participating members, as well as to ensure that FMIs carry out their duties ethically and competently.
Issued by the EPF Media Desk
Corporate Affairs Department
23 June 2020
About the Employees Provident Fund (EPF)
The Employees Provident Fund (EPF) is Malaysia’s premier retirement savings fund to help its members achieve adequate savings for a comfortable retirement. This is in line with EPF’s vision to help members achieve a better future and the mission to safeguard members’ savings and deliver excellent services. The EPF has evolved significantly from transaction-centric to a professional fund management organisation with a strong focus on retirement security. The EPF is guided by a robust and professional governance framework when making investment decisions. It continues to play a catalytic role in the nation’s economic growth and seeks to cultivate a savings and investment culture among its members to improve the country’s financial literacy level.