EPF releases list of funds
For 2012/13 period, a total 223 unit trust funds offered under EPF-MIS
KUALA LUMPUR: The Employees Provident Fund (EPF) has published the revised list of fund management institutions (FMI) and unit trust funds for 2012/2013 for the EPF members investment scheme (EPF-MIS).
EPF public relations general manager Nik Affendi Jaafar said: “The list of funds under EPF-MIS is reviewed annually based on a set of evaluation criteria that focuses on the consistency of fund performance, as approved by the Ministry of Finance.
“The evaluation process is carried out together with the Federation of Investment Managers Malaysia (FIMM) which represents the unit trust industry.”
The evaluation methodology for qualification, suspension and re-instatement of funds is based on quantitative measurements, which is transparent and eliminates subjectivity.
“It is in the best interest of EPF members to have assurance that the funds offered under the scheme possess consistent track performance,” he said.
For the 2012/2013 period, a total of 223 active unit trust funds from 24 FMIS are offered under the EPF-MIS.
The revised list will be effective for the period of June 1, 2012 until May 31, 2013.
For the full list of funds offered under each appointed FMI, members can refer to the MYEPF website at http://www.kwsp.gov.my/
The EPF-MIS allows members to withdraw part of their savings in Account One for investments in approved unit trust funds through FMIS, offering them the opportunity to enhance their retirement savings.
As at March 31, 2012, more than 750,000 members have participated in the scheme involving more than Rm21bil of net amount invested with approved FMIS.
Under the scheme, members can withdraw on a quarterly basis not more than 20% of the total savings in Account One in excess of their respective basic savings.
Basic savings is an amount of savings to be put aside in Account One progressively at various predetermined age levels so as to enable members to accumulate a minimum savings of RM120,000 upon reaching the age of 55.
“While members are provided with a list of funds with consistent returns under the EPF-MIS, it is the responsibility of the members to make their own decisions based on their risk appetite and investment objectives and how comfortable they are with the fund manager’s investment approach.
“Those who are unsure may leave their money with the EPF which has provided consistent returns and had paid 6% dividend for 2011.
“We would like to stress that although the EPF approves the funds to be offered under the EPFMIS, it should not be taken as any indication that the EPF recommends these funds to its members, or provides any assurance on their performance,” said Nik Affendi.
Members are strongly advised to understand the objective of the scheme and seek appropriate advice from qualified advisers or financial planners before deciding to participate in it. — Bernama