Thursday 28 Mar 2024
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Despite the weakening of the ringgit and plunge in oil price, experienced investors are encouraged to invest in the equity market.

Great Eastern Life Assurance (Malaysia) Bhd’s head and vice president of fixed income investment Alexis Jong said the current equity market would create the platform for an investor in creating his/her wealth. 

He said: “The weaken ringgit drives exports, for example the electronics sector, because foreign companies would want to buy more of our products because the products are cheaper.”

Great Eastern’s vice president and head of equities Goh Pei Kuan said: “The oil price has crashed more than 50% from its recent peak, and ringgit has also weakened lately. It certainly has implications on our economy and also the stock market.”

In 2014, the ringgit was seen as the worst performing currency in the ASEAN region.

Both were speaking at the ‘Smart For Life Tea Talk’ Financial Market Outlook 2015 held in Menara Great Eastern on Feb 7. 

On investing in funds, Jong said: “Investing in funds depends on your lifecycle, because this is financial planning and yes the equity market is a part of the government, you should participate provided you have the experience.”

He added when investing in funds, one must never look at one-year return as one year duration might give a shock return. A three- or five-years duration is likely to give an investor the long term return. 

In response to questions, he also said: “I think you should (invest), but it depends on how your lifecycle is, your job, and if you have extra funds to play, by all means create your wealth.”

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