EPF i-Invest to screen members' investment-risk tolerance, allow access to more funds

EPF i-Invest to screen members' investment-risk tolerance, allow access to more funds
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KUALA LUMPUR (Oct 25): The Employees Provident Fund (EPF) said on Monday members using the Islamic-compliant i-Invest self-service online investment facility can now purchase up to eight unit trust funds from a maximum of five Fund Management Institutions (FMIs) in a single purchase transaction and that i-Invest users will now be required to perform an investment suitability assessment before conducting any transaction.

In a statement, the EPF said that previously, members could only purchase multiple unit trust funds from one FMI in a single transaction.

"This enhanced feature for i-Invest allows members better access and efficiency when investing through the facility.

"Additionally, i-Invest users will now be required to perform an investment suitability assessment before conducting any transaction. The assessment will profile members' risk tolerances, enabling them to make informed investment choices suited to their investment risk appetites," the EPF said.

While members are able to purchase their unit trust funds from more than one FMI, these transactions, however, can only be conducted through appointed Institutional Unit Trust Scheme Advisers that offer funds from various FMIs, the EPF said.

According to the EPF, members may still purchase funds from individual FMIs if they choose to do so.

"The EPF's i-Invest facility, 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.

"Through the facility, members are able to compare different unit trust funds offered by FMIs, obtain a consolidated view of their investment holdings and information on cost of investment, historical fund performance, as well as required statutory information.

"As a self-service facility that empowers members to take charge of their financial future, the EPF ensures governance guidelines within i-Invest are complied with stringently by participating bodies," the EPF said.

Chong Jin Hun