KUCHING: Principal Asset Management Berhad (Principal) yesterday announced that consumers can now invest in its unit trust funds at 0.0 per cent sales fee, as part of its offering for the EPF’s newly launched i-Invest online platform within the i-Akaun (Member) portal facility.
The online facility enables EPF i-Akaun members to invest in unit trust funds using their EPF savings without needing to complete and submit physical forms and enables them to perform various transactions including purchase, redeem and switch funds – anytime, anywhere.
“In today’s era of dynamic change, there is a growing need to accommodate the emergence of more tech savvy investors,” said Munirah Khairuddin, CEO of Principal Asset Management in a statement.
“We’re glad to have the opportunity to partner with the EPF and are excited to bring our global experience and expertise to make saving for retirement faster and easier for those who prefer to manage their money, their way.
The Principal online platform is just one more tool we offer to help customers save enough and have enough in retirement and complements our other methods of investing Principal’s award-winning funds are now available to all individuals who are eligible EPF i-Akaun members.”
They are able to withdraw and invest 30 per cent of the amount in excess of the required basic savings in Account 1, which differs according to age. Basic Savings amount is applicable to members up to 55 years old. Members aged 55 years and above may also be eligible to invest should they still have available savings in their EPF Akaun 55 or “Akaun Emas”.
Principal Malaysia has a total of RM55 billion assets under management and 400,000 investors as of June 2019. With a regional footprint in Indonesia, Singapore and Thailand, the Group’s assets under management as of June 2019 is RM86.1 million.
Globally, Principal is a Fortune 500 global financial services group that offers retirement, insurance, and asset management solutions to more than 22 million customers with offices in 19 markets throughout Asia, Australia, Europe, Latin America and North America. With innovative ideas and real-life solutions, we help make financial progress towards a more secure financial future possible for clients of all income and portfolio sizes.