Employees Provident Fund (EPF) members using the 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.
EPF said 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,” it said in a statement today.
However, it said these transactions could only be conducted through appointed Institutional Unit Trust Scheme Advisers (IUTAs) that offered funds from various FMIs.
It said EPF members might still purchase funds from individual FMIs if they choose to do so.
Additionally, it said i-Invest users would now be required to perform an investment suitability assessment before conducting any transaction and the assessment would profile members’ risk tolerances, enabling them to make informed investment choices suited to their investment risk appetites.
The retirement fund said the EPF’s i-Invest facility, which was launched in August 2019, is a digitally powered platform that provided greater flexibility, functionality and convenience for EPF 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,” it said.
It added that as a self-service facility that empowered members to take charge of their financial future, the EPF ensured governance guidelines within i-Invest are complied with stringently by participating bodies. – NST ONLINE
