EPF expands approved unit trust fund list

  • Business
  • Tuesday, 18 Mar 2014

KUALA LUMPUR: The Employees Provident Fund (EPF) has expanded the list of unit trust funds members can invest in with money from their retirement savings.

As at the end of last year, a total of 744,139 members had participated in the EPF Members Investment Scheme (MIS), with RM29.48bil invested with approved fund management institutions (FMIs).

For the 2014/2015 period, 224 unit trust funds from 24 FMIs are qualified to be offered under the EPF-MIS, compared with 210 from 25 FMIs as at Dec 31, 2013.

The list will take effect on April 1, 2014 until March 31, 2015.

Deputy chief executive officer (investment) Mohamad Nasir Ab Latif said the scheme allowed members to use part of their savings in Account 1 for investments in approved unit trust funds through the FMIs, which the EPF reviews annually based on a set of evaluation criteria that focuses on the consistency of fund performance as approved by the Finance Ministry.

“The evaluation process for fund qualification is carried out together with the Federation of Investment Managers Malaysia, which represents the unit trust industry,” he said in a statement yesterday.

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