Malaysia’s TNG Digital has expanded its Islamic digital fund portfolio in collaboration with Principal Asset Management (Principal Malaysia).
Offered through its digital investment platform Goinvest, the new offerings comprise eight new trust funds – four Islamic and four conventional – bringing the total number of funds offered to nine.
TNG Digital, an e-wallet operator, launched its Goinvest platform in July last year, allowing users to invest in the Principal Islamic Money Market Fund (Class D). Investments start from RM10 (US$2.14). According to the platform, investors could earn up to 12.35% per year with no lock in period.
Part of the Touch ‘n Go brand, a contactless smart payment card system launched in 1997, TNG Digital was the first digital wallet to be licensed by the Securities Commission Malaysia to operate as a recognized market operator.
The company has been steadily growing its fintech solutions. Just last month, TNG Digital signed an MoU with Alliance Bank Malaysia, which also provides Islamic financial products, to introduce digital financial solutions.
Goinvest, which TNG Digital CEO Alan Ni said has over 100,000 investors to date, follows the 2021 launch of Go+, the e-wallet’s first investment product in partnership with Principal Malaysia. GO+ allows users to earn daily returns from Principal e-Cash, an Islamic money market fund and at the same time support day to day payments through the e-wallet. GO+ has a user base of over 3 million.
Table 1: Unit trust funds offered via GOinvest
|Principal Islamic Global Selection Moderate Conservative Fund (Class D)|
|Principal Islamic Lifetime Enhanced Sukuk Fund (Class D)|
|Principal Islamic Global Selection Moderate Fund (Class D)|
|Principal Asia Pacific Dynamic Mixed Asset Fund (Class D)|
|Principal Islamic Global Selection Aggressive Fund (Class D)|
|Principal Asia Pacific Dynamic Income Fund (Class D)|
|Principal Global Titans Fund (Class D)|
|Principal DALI Global Equity Fund (Class D)|