Today 29/01/2020 the KLCI continued to slide a bit 1.17 after sliding over 20 points on 28/01/2020 leaving the index at 1550. The reasons being people’s worried about the China corona virus pandemic.
My friend informed me that it was a good time to start accumulating Malaysian equities but I didn’t have cash and he taught me how he used bought Malaysian equities from EPF iAccount without coming out with cash. Actually EPF iAccount allows users to electronically purchase unit trust funds using money in their account no 2. Previously this was a tedious process involving filling up physical forms and submitting to EPF.
I tested logging into my EPF iAccount and click on the investment tab. The investment tab will launch another EPF site which will allow users to search for EPF approved funds from unit trusts companies. Once the funds are selected, it is just a matter of a few clicks, being transferred to the unit trust companies page and purchase the funds.
Do note that if I sell the unit trusts purchased using EPF iAccount, the proceeds will go back the my EPF Account 2. You can cash out the proceeds into your bank account after selling off the units purchased in the fund.
The purchases are only reflected at the unit trust company (eg Public Mutual, Ammutual) after around 5 days.
The purchases are only reflected at the unit trust company (eg Public Mutual, Ammutual) after around 5 days.
Updates 20200208
My test portfolio using EPF money to buy unit trusts from Public Mutual could be paying off once this corona virus pandemic scare subsides.
Updates 20200218
Since the last update, I've doubled down further on this method, pumping in more of my EPF money from iAccount into PMB funds. This seems to be yielding some positive results.
Updates 202002200
While I did take into account coronas virus event, I failed to take into account the sudden change of Pakatan Harapan PH government in Malaysia. My portfolio is now making some losses.
Another insight that investments are always unpredictable. I've no regrets on what I'm doing as it was a calculated risk.
