Principal Asset to advance e-invesment solution with TnG
By Digital News Asia March 19, 2021
- Strategic partnership with TNG a milestone for both companies
- Principal plans to continue building holistic digital solutions going forward
Principal Asset Management Berhad has announced the launch of its latest product: the Principal eCash Fund.
The fund will be made available soon through what the company is calling a “landmark strategic partnership” with TNG Digital Sdn Bhd, the Touch ‘n Go Group company that owns and operates Touch ‘n Go eWallet in Malaysia.
Essentially, this makes Principal’s eCash Fund the first e-wallet investment solution in Malaysia, the company claimed in a statement.
“I am excited about our partnership with Touch ‘n Go. With technology playing an increasingly pivotal role in every aspect of life, this long term partnership is set to accelerate the development of eWallet investment solutions for Malaysians,” said Munirah Khairuddin, chief executive officer of Principal Asset Management (pic, right).
“Addressing the needs of Malaysians irrespective of their financial background, every Malaysian can now start to invest and inculcate the habit of invest, save and spend.”
Principal Asset Management Berhad is a joint venture between Principal Financial Group and CIMB Group Holdings Berhad.
Headquartered in Malaysia, it was established in 1994 and has since expanded footprint across Indonesia, Thailand and Singapore.
The company said it serves close to one million investors in Malaysia, offering a variety of solutions ranging from retirement schemes to asset management expertise.
Principal said that it is committed to building “holistic solutions that can help Malaysians save enough, have enough and protect enough to achieve their long-term financial goals”. Going forward, the company intends to continue working towards addressing consumer needs with digital solutions, it said.
The Principal eCash Fund follows selected funds that Principal introduced in 2009, through the Employees Provident Fund’s (EPF) self-service online investment platform i-Invest. This was to encourage investors to invest digitally for their retirement needs.
More information can be found here.
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