Touch ‘n Go eWallet has launched GOinvest investment feature that allows users to invest in money market funds (MMFs) directly through Touch ‘n Go eWallet.
GOinvest is an investment feature launched by Touch ‘n Go eWallet, where the money invested by the user will be invested in the Principal Islamic Money Market Fund (Class D). This fund is managed by Principal Asset Management and has an annualized return of 2.70% p.a. for the past 12 months.
GOinvest allows users to start investing with a minimum of RM10, there is no Lock in Period and users can withdraw their funds at any time without being charged any early withdrawal fee.
GOinvest’s investments will be calculated on a per unit basis and the price per unit will fluctuate daily with the market. A management fee of up to 0.40% p.a. and a trust fee of up to 0.02% p.a. will be charged on the invested funds. Investment income will be credited to the user’s account on a monthly basis.
Users interested in participating in GOinvest investments can open the Touch ‘n Go eWallet, then click on the GOinvest icon and then verify their personal identity. If you are a GO+ subscriber, you do not need to go through the personal identification process again. You can then start investing from your Touch ‘n Go eWallet deposit or by transferring funds via FPX.
It is important to note that if a user deposits or withdraws before 1:00 pm on a weekday, the price per unit will be calculated for that day. On the contrary, if the deposit or withdrawal is made after 1:00 pm, the price per unit will be calculated on the next day. The user can receive the deposit within 2 business days after requesting a withdrawal.
According to the official website of Principal Islamic Money Market Fund (Class D), the price per unit is RM1.0019 on July 4 and 5, RM1.0016 on July 1, and RM1.0017 on June 30. 90% of the fund is invested in Islamic money market instruments and 10% in Islamic fixed income instruments. This fund invests 90% of its funds in Islamic money market instruments and 10% in Islamic fixed income instruments.
