KUALA LUMPUR, Feb 28 — The Employees Provident Fund (EPF) has published the List of Fund Management Institutions (FMI) and unit trust funds that qualify for offering under the EPF Members Investment Scheme (EPF MIS), effective March 1, 2017 until Feb 28, 2018. 

A total of 269 unit trust funds from 22 FMIs are qualified to be offered under the EPF MIS for the offering period of 2017/2018 compared with 313 unit trust funds from 23 FMIs for the offering period of 2016/2017, said EPF in a statement today. 

For the 2017/2018 offering period, EPF has raised the fund’s minimum eligibility score of Simple Average Rating for Consistent Returns (SACR) to 2.33 from 2.00, to provide further protection for investors by screening out the bottom performers. 

The SACR was introduced in 2010 and computed based on the fund’s aggregate performance over a three-year period, while taking into account its peers and the industry’s performance. 

"We had raised the minimum eligibility score to 2.00 from 1.67 in 2013, and it is now timely to raise it to 2.33,” said Deputy Chief Executive Officer (Investment) Datuk Mohamad Nasir. 

"The latest revised list also sees members having more variety of funds for their investment diversification following the removal of the 30 per cent foreign exposure cap in August 2016,” he said. 

He added that members may now tap into funds with higher potential growth and opportunities present in foreign markets. 

The EPF MIS allows members to transfer part of their savings from Account 1 for investments through the appointed FMIs as an option to enhance their retirement savings. 

Effective Jan 1, 2017, the amount for transfer had been revised upward to not more than 30 per cent (from not more than 20 per cent previously) every three months from the savings in excess of the Basic Savings amount in Account 1.             

The Basic Savings is a pre-determined amount set according to age in Account 1 to ensure members have at least RM228,000 upon reaching the age of 55. 

The Basic Savings quantum was benchmarked against the minimum pension of RM950 per month for 20 years from the age of 55 to 75. 

Members are reminded that the investment under the EPF MIS is voluntary and members take full responsibility over their decision to invest based on the objectives and risks profile that suit them. 

The EPF also provides a Fund Information Portal which can be accessed for free via i-Akaun. 

"Even though the EPF approved these unit trust funds, it does not mean we are making any recommendations or suggestions for members on any of the unit trust funds,” said Mohamad Nasir. 

To safeguard the integrity of the scheme and the interest of investing members, the EPF has issued guidelines to be complied by FMIs to ensure that they would carry out their duties diligently and responsibly. 

It has also appointed an independent auditor to carry out annual audit on the FMIs. 

For the full list of funds offered under each appointed FMI, members can refer to the myEPF website. ­— Bernama