Kuala Lumpur – Manulife Investment Management (M) Berhad today announced the launch of Regular Savings Plan (RSP), a new feature on the digital investment platform Manulife iFUNDS that offers a convenient way for Malaysians to save their income regularly and achieve their long-term financial goals. RSP enables users to make fixed monthly investment contributions, and earnings from their investments will be reinvested to generate more potential returns and enjoy the power of compounding.
RSP is based on the principle of dollar cost averaging, which means investing a fixed dollar amount periodically into a specific investment regardless of fluctuations in the market price. The result of this is that investors buy more units when prices are low and fewer units when prices are high. This can be a viable long-term strategy for investors with lower risk appetites, less time to spare on closely following the market, or have cash flow concerns. This strategy can help eliminate the risk of panic buying and selling in response to unanticipated market movements, a trait that inexperienced investors often have. Over time, the average investment cost may be lower than lump sum investment, which may contribute to more long-term profits.
“Given interest rates are likely to stay low for longer, investors may need to take on more risk and tap higher-yielding instruments to generate the income they seek. Relying on bank deposit interest will not be enough. As such, putting in place a structured, long-term investment savings plan that compounds the regular contributions and investment earnings can better help Malaysians achieve their retirement goals or fund their children’s future tertiary education,” said Jason Chong, CEO, Manulife Investment Management (M) Berhad.
“We are excited to introduce a convenient and easy-to-use savings application on Manulife iFUNDS that not only helps Malaysians to reach their long-term goals, but also leads them to better understand the benefits of staying invested and diversified no matter what the market condition is. Manulife iFUNDS RSP enables users to plan their investments with comprehensive tools such as Goal-based Investment, Fund Screener, and What-if Analysis. This means they will be presented with a range of fund options that best match their risk appetite, financial goals, and budget. We believe this is an appropriate solution for those who want peace of mind with their investments by having an automatic and fixed monthly contribution, and achieve their financial goals following the Malaysian proverb ‘Sikit-sikit lama-lama jadi bukit’,” said Ng Chze How, Head of Retail Wealth Distribution, Manulife Investment Management (M) Berhad.
Setting up a RSP account is simple. Users can login to Manulife iFUNDS on their computer, tablet, or smartphone, and click on “Regular Savings Plan” from the menu button. Users can follow easy steps in choosing the appropriate funds, selecting the monthly contribution amount, and setting up the direct payment method and details. Users will receive email and SMS notifications confirming receipt of their application, and another notification in 1-2 business days on their direct debit authorization status, after which the RSP account setup will be completed. Users can login to their RSP account anytime to increase their RSP monthly contribution amount or switch an investment fund.
For more information about Regular Savings Plan with Manulife iFUNDS, please visit https://asia.manulifeam.com/rsp-my.html.
