KUALA LUMPUR: Effective Aug 1, funds that have higher consistent returns for at least three years and those with a foreign portfolio component of up to 30% would be made available for sale to Employees Provident Fund (EPF) members.

This meant that funds with less than three years track record and newly launched ones would not be sold to EPF members.

Federation of Investment Managers Malaysia (FIMM) president Tunku Ya’acob Tunku Abdullah said the move would further instill trust and confidence in unit trust investment and enhance investment options.

To achieve the above objective, FIMM would introduce a performance focus methodology to measure funds under the EPF Members Investment Scheme annually.

"Funds that consistently have higher performance relative to its peers in the same category will be made available for sale to EPF members. Those that generate returns but not as high as their peers and do not meet a certain criteria, will be suspended for sale.

"These funds can be re-instated when they eventually meet the criteria. The evaluation methodology for sale of funds as well as those with foreign exposure are expected to be implemented in August," he said at a press briefing.

source HERE

Posted by Mr Thx Friday, June 4, 2010 1 comments
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Sekapur Sirih Seulas Pinang

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