PETALING JAYA: Despite competition heating up among private retirement funds, it is expected to take off at a slow pace as more education and promotion are needed to boost the take-up rate of these funds, according to fund managers.
To date three fund houses CIMB-Principal Asset Management Bhd, Manulife Asset Management Services Bhd and Hwang Investment Management Bhd have launched a total of 17 private retirement funds under the private retirement scheme (PRS). Eight fund houses are granted licences in April by the Securities Commission as PRS providers.
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