EPF releases revised checklist of unit belief funds for 2022/2023

KUALA LUMPUR: The Workers Provident Fund (EPF) has launched its annual qualifying checklist of fund administration establishments (FMIs) and unit belief funds below the EPF Members Funding Scheme (EPF MIS) efficient as we speak.

The EPF stated for the 2022/2023 interval, a complete of 346 funds from 19 FMIs have been accepted below EPF MIS, of which 202 funds are certified to be provided to EPF members. Of the funds certified, 159 funds (78.7 per cent) are native funds, of which 80 funds (50.3 per cent) are fairness funds.

Chief funding officer Rohaya Mohammad Yusof stated these funds have been evaluated yearly based mostly on EPF’s established standards accepted by the Ministry of Finance.

For 2022, she famous that EPF had elevated the minimal eligibility rating of Easy Common Constant Return (SACR) from 2.33 to three.00 for funds below the EPF MIS, and 4.00 for brand spanking new belief funds, including that the SACR is computed based mostly on the EPF’s mixture efficiency over a three-year analysis interval utilizing Lipper Ranking for Constant Return.

“These funds should exceed the Benchmark Relative Efficiency, and by growing the SACR rating, we’re in a position to make sure that not solely are they performing funds, however in addition they outperformed their friends.

“Any unit belief fund which falls beneath the minimal eligibility rating shall be suspended from providing throughout this era,” she stated in an announcement as we speak.

Underneath the EPF MIS, the provident fund stated members are given the choice to speculate as much as 30 per cent of the quantity in extra of their EPF Account 1 financial savings with the FMIs, together with unit belief administration firms and asset administration firms, through the EPF MIS , relying on their eligibility based mostly on the Primary Financial savings Quantum.

To assist members aged 55 and above make knowledgeable choices and at a decreased price, members are inspired to make use of the EPF’s self-service i-Make investments platform, which could be accessed by i-Akaun, EPF stated.

“The options in i-Make investments would assist members to check completely different unit belief funds provided by the FMIs, monitor their funding funds by their i-Akaun, and search for info on price of funding, historic efficiency, in addition to required statutory info, it stated.

Additional, Rohaya shared that the important thing aspect of i-Make investments is that preliminary gross sales prices are low because the EPF has enforced a most cap of 0.5 per cent, in comparison with the present 3 per cent for offline and conventional transactions by brokers.

“Starting March 26, 2022, members are in a position to make the most of the brand new options on the i-Make investments platform.

“The Funding Simulator helps members to plan their investments and the Fund Efficiency Benchmark helps members to check the chosen funds’ efficiency in opposition to the funds’ Lipper benchmark efficiency,” she added.

Nonetheless, EPF stated members are suggested to train warning when making any funding choice and search the proper info or skilled recommendation earlier than committing to any transactions.

“Members might seek the advice of the EPF’s Retirement Advisory Service at any EPF branches nationwide earlier than taking part in MIS. Whereas EPF has accepted these funds, it doesn’t endorse or advocate particular person funds for members to put money into,” it stated.

For the total checklist of funds provided below every appointed FMI, members might confer with the myEPF web site at https://www.kwsp.gov.my/member/funding – Bernama


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