«
»

Public Mutual Bhd’s Services Were Suspended By EPF

Employees Provident Fund (EPF) has suspended Public Mutual Bhd’s Services As Approved Fund Management Institution effective on 29 October 2012.

Being a Approved Fund Management Institution means the public can withdraw their EPF saving to be invested in unit trusts for better return.

This scheme is optional. Members can opt to invest not more than 20% of their credit in excess of Basic Savings in Account 1.

Public Mutual Bhd

In line to this announcement, the general public will NOT able to to buy unit trusts using EPF money to invest fund managed by the Public Mutual Bhd.

For those who already invested with Public Mutual, you cannot top up or add more money to your account.

The Public Mutual Bhd therefore is prohibited from opening accounts for EPF members and/or receiving credit transfers.

This should gave a huge impact on Financial Planners who is focus on the EPF fund prospect. You’ll see them every where i.e outside the building of EPF’s office, shopping centre, etc.

Public Mutual is the largest private unit trust company in Malaysia. It has been awarded with 194 awards up to date.

Public Mutual Bhd however will still be responsible for managing existing members’ investments, if any, transferred before Oct 29, 2012.

Public Mutual wins big again

.

Public Mutual Bhd has again emerged as the biggest winner of the The Edge-Lipper Malaysia Fund Awards, grabbing 10 out of the 29 awards this year, including the Best Overall Group award.

.

This entry was posted on Tuesday, October 30th, 2012 at 1:16 pm and is filed under EPF, Investment, Mutual Fund. You can follow any responses to this entry through the RSS 2.0 feed. Both comments and pings are currently closed.

One Response to “Public Mutual Bhd’s Services Were Suspended By EPF”

  1. The suspension has been reversed….