EPF Releases Revises List Of Unit Trust Funds

The Employees Provident Fund (EPF) has released its annual qualifying list of fund management institutions (FMIs) and unit trust funds under the Members Investment Scheme (MIS) effective April 1, 2022 (Friday).

The EPF said for the 2022/2023 period, a total of 346 funds from 19 FMIs were approved under the MIS, of which 202 funds are qualified to be offered to EPF members. Of the funds qualified, 159 funds (78.7%) are local funds, of which 80 funds (50.3%) are equity funds.

Chief investment officer Rohaya Mohammad Yusof said the funds are evaluated annually based on the EPF’s established criteria approved by the Ministry of Finance. and for 2022, she noted that EPF had increased the minimum eligibility score of the simple average consistent return (SACR) from 2.33 to 3.00 for funds under the MIS, and 4.00 for new trust funds, adding that the SACR is computed based on the EPF’s aggregate performance over a three-year evaluation period using Lipper ratings for consistent return.

“These funds must exceed the benchmark relative performance, and by increasing the SACR score, we are able to ensure that not only are they performing funds, but they also outperformed their peers.

“Any unit trust fund which falls below the minimum eligibility score will be suspended from offering during this period,” she said in a statement on Friday.

Under the MIS, the provident fund said, members, are given the option to invest up to 30% of the amount in excess of their EPF Account 1 savings with the FMIs, including unit trust management companies and asset management companies, depending on their eligibility based on the basic savings quantum.

To help members aged 55 and above make informed decisions and at a reduced cost, members are encouraged to utilise the EPF’s self-service i-Invest platform, which can be accessed through i-Akaun, the EPF said.

“The features in i-Invest would help members to compare different unit trust funds offered by the FMIs, monitor their investment funds through their i-Akaun, and look up information on the cost of investment, historical performance as well as required statutory information,” it said.

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