Revised Guidelines of the Fund Management Institution Employees Provident Fund Members Investment Scheme

Dated 30-12-2021


Dear Valued Unit Holder,
 
 
Revised Guidelines of the Fund Management Institution -Employees Provident Fund Members Investment Scheme
 
 


We refer to the above matter and the revised Guidelines of the Fund Management Institution issued by Employees Provident Fund (“EPF”) dated 29 November 2021
 
Hong Leong Asset Management Bhd (“HLAM”) would like to notify you that below items will take effect from 1 January 2022.
 
i.  No initial investment is allowed in any EPF’s approved money market unit trust funds;
 
ii. Switching from other EPF’s approved non-money market funds into EPF’s approved money market unit trust funds is allowed but subject to the following conditions:
 
(a)    The investment holdings must not be retained for more than six (6) consecutive months, calculated on first-in-first-out basis.
 
(b)   Upon the expiry of the time limit given mentioned in item (ii)(a), if there are still balance units in the money market unit trust fund, EPF Members have the option of either to fully liquidate the investment and credit back to EPF Account 1 or switch out the remaining units balance into non-money market fund.
 
(c)    Failing of item (ii)(b), HLAM reserves the right to fully liquidate the EPF Members’ investment and return the redemption proceeds back to the EPF Account 1 of the respective EPF Members.
 
In pursuant to the above implementation, kindly take note that the time limit of six (6) months for all existing EPF Members of money market fund as at 31 December 2021 will be expired on 30 June 2022.
 
As such, HLAM strongly advise all existing EPF Members to take preemptive measures in managing your investments in any of our money market funds during the time limit of six (6) months given to avoid any future disruptions.
 
We would like to take this opportunity to thank you for investing with us. Should you require further clarification on the above matter, kindly contact your servicing representative or our Customer Experience personnel at 03-2081 8600 ext 18611/18612 or email us at inquiry@hlam.hongleong.com.my.
 

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