KUALA LUMPUR: The Employees Provident Fund (EPF) has added five more additional platforms for its eligible contributors to invest in unit trust funds via i-Invest, offered online, through the i-Akaun member portal.
These additional platforms are from six EPF-approved Fund Management Institutions (FMIs) which include Affin Hwang Asset Management Bhd, Kenanga Investors Bhd, RHB Asset Management Sdn Bhd (which share the same platform as RHB Islamic International Management Bhd), Hong Leong Asset Management Bhd and TA Investment Management Bhd.
In a statement today, EPF's Corporate Affairs Department said these additions, which increases the total platforms for i-Invest up to ten, are expected to offer more flexibility for investors to perform online transactions under the EPF Members Investment Schemes.
"The existing MFIs platforms include Amanah Saham Nasional Bhd, Eastpring Investments Bhd, Manulife Investments Management Bhd, Principal Asset Management Bhd and Public Mutual Bhd.
"FMIs independent platforms that are still allowing i-Invest transactions include EPF-appointed advisors through Penasihat Institusi Unit Amanah (IUTA) which is iFast Capital Sdn Bhd and Philip Mutual Berhad," said the statement.
As of April 30, i-Invest has recorded over 25,000 transactions with a total net worth of RM219.3 million.
Starting May 1, the initial sales charge for EPF contributors who have been investing through i-Invest will be waived for over 12 months.
"This initiative is to ensure contributors diversify their retirement portfolio at a lower cost."
I-Invest, which was introduced in August 2019 is an online investment platform for EPF contributors to invest, transact and monitor their unit trust investments.
The EPF has strict guidelines for FMIs to comply with, in order to safeguard the integrity of the scheme and the interest of participating members, as well as to ensure that FMIs carry out their duties diligently and responsibly.