Quote example or recent news on unit trust Tabung Harapan Malaysia was set up as a fund for Malaysians to donate in order to help reduce the government’s burden in tackling the national debt

Quote example or recent news on unit trust
Tabung Harapan Malaysia was set up as a fund for Malaysians to donate in order to help reduce the government’s burden in tackling the national debt. The purpose of the fund is to “provide a systematic and transparent platform to ensure all contributions and donations from the people are properly managed and organised.” (Katrina khairul azman, 2018). All monies donated are tax deductible and Malaysians are advised to keep their receipts. Some companies were donated RM 1 million into the fund such as Ewein Bhd and Magni-Tech Industries. On the June 22, the total collection ups to RM92.1 million. This was confirmed by the Finance Ministry on its website.
On the 28 Feb 2018 , The Employees Provident Fund (EPF) has raised the amount under the EPF members investment scheme for qualified members while maintaining its high performance benchmark for fund management institutions (FMIs) and unit trust funds. Members who meet the basic requirement may transfer part of their savings from Account 1 into FMIs of their choice. The amount transfer had been revised from not more than 20% to not more than 30% every three months. CEO (Investment) Datuk Mohamad Nasir Ab Latiff said for the 2018/2019 period, out of 367 funds approved under the EPF MIS, 268 funds from 22 FMIs qualify for offering. In the 2017/2018 period, out of the 373 funds approved, 278 funds from 22 FMIs qualified for offering. The list of unit trust funds offered under the EPF MIS is evaluated annually based on the criteria established by the EPF and approved by the Ministry of Finance Malaysia (Kwspgovmy, 2018). Any unit trust fund which falls below the minimum eligibility score will be suspended and will not be offered during the period.
According to the news , most of the South Africans below 35 years old don’t know what a unit trust is but 16% of them have funeral cover (Businessinsidercoza, 2018). South Africans tend to be educated, tech-savvy, and optimistic. Yet 47% of this group has no idea what a unit trust is, according to a study by Old Mutual. Only one out of four South Africans below 35 years old have a unit trust. The remainder tend to save their money for specific purposes rather than invest: 37% are saving towards a holiday, 32% towards a car, and only 31% towards retirement. ‘Financial and investment firms need to reconsider how they sell investment products to young people,” says personal finance coach Mapalo Makhu of the firm Woman & Finance. Firms should listen more to the needs of young potential customers and come up with an investment vehicle that is better suited to them.