| KUALA LUMPUR: The Employees Provident Fund (EPF) has to date disbursed over RM20 billion to its appointed fund management institutions (FMIs) under the EPF Members' Investment Scheme since its launch in November 1996.
Investment withdrawals are applicable to members who have at least RM5,000 over and above the basic savings required in Account 1 (retirement account), and have not reached 55 years of age. The basic savings required is dependent on the contributor's age and total funds in Account 1.
The amount of savings that can be invested must not be less than RM1,000 and not more than 20% of the amount exceeding the required basic savings in Account 1.
In an email reply to The Edge Financial Daily, the EPF's general manager for public relations Nik Affendi Jaafar said there were currently 37 FMIs appointed by the EPF under the scheme.
He said in general, the performances of the respective funds and returns to investors had been mixed depending on the categories, strategies and objectives of the investments. "Naturally, some do tend to outperform the others," he said.
The FMIs are categorised as unit trust fund managers and asset managers. This article appeared in The Edge Financial Daily, August 11, 2010. |
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