FEFI is the first index that monitors and tracks the returns of unit trust equity funds in Malaysia.
The index is accessible on Fundsupermart.com, Singapore’s biggest online unit trust distributor. The portal is operated by iFast, a joint venture between OSK Investment Bank Bhd and Singapore’s iFast Corp Pte Ltd.
Fundsupermart.com Malaysia and Singapore general manager Wong Sui Jau said the introduction of the index was timely, given the current economic conditions.
“Up to now, investors commonly look at other indices to monitor the status of the stock market. Although these indices mirror the overall situation of the market, they are not designed to provide up-to-date information on unit trusts in Malaysia.
“The launch of FEFI is well-timed. With the current financial situation, the index will serve as a benchmark for investors to monitor their investments and guide them to invest,” he said at the launch.
The index currently tracks 44 domestic equity funds. It is calculated on a daily basis, with the level and corresponding date displayed on the website.
Wong said there were plans to add more funds to the index, depending on the industry growth.
“We update the index every six months and will add new funds accordingly,” he said.
Wong said a fund must be open-ended and have daily price fluctuations to be considered for the index, adding that iFast also planned to launch a bond fund index in the future.
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