KUALA LUMPUR: Employees Provident Fund (EPF) members can access more funds via the i-Invest self-service online investment facility.
The retirement fund said on Monday the members can now purchase up to eight unit trust funds from a maximum of five fund management institutions (FMIs) in a single purchase transaction.
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.
“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 (IUTAs) that offer funds from various FMIs.
“Members may still purchase funds from individual FMIs if they choose to do so,” it said.
Importantly, the EPF said i-Invest users will now have 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’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, andmonitor their unit trust investments anytime and anywhere.
Through the facility, members can 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,” it pointed out.