PETALING JAYA: Bank Islam Malaysia Bhd’s wholly-owned subsidiary BIMB Investment Management Bhd launched its first robo-intelligence sustainable shariah-environmental, social and governance (ESG) investing online platform, named BEST Invest.
BIMB Investment chairman Mohamed Ridza Mohamed Abdulla observed that with the shift towards the digitalisation of services, the fund and wealth management space are also evolving.
“Digital fund and wealth management will efficiently build and manage investments and wealth portfolios across asset classes, geographies and economies. Robo-intelligence and big data technology will be integral in the next generation of funds and wealth management to drive consistent and reliable performance and risk management,” he said in a press release.
CEO Najmuddin Mohd Lutfi said the app focuses on Shariah-ESG and sustainability investing, as BIMB Investment is a United Nations’ Principles for Responsible Investment (UNPRI) signatory and has focused on ESG investing since 2015.
It is currently managing more than RM1 billion in ESG investment assets.
Najmuddin stated that the BEST Invest app offers a systematic investment process for investors to invest globally across asset classes and build a resilient wealth portfolio based on data and analytics.
Users are offered the option of managing their own investment for a more customised service, or utilise the platform’s robo-intelligence system to identify and select the best investment methods, suitable funds and the investment amount based on the investor’s risk profile.
Investors are able to start investing on the platform with a minimum investment of RM10 with zero sales charge as well as invest or withdraw their investment anytime and anywhere.
As the ongoing Covid-19 outbreak has resulted in global stock markets going through a downturn and offering attractive values, Najmuddin cautioned that while periods of volatility can be a good time to invest, it’s also important to gauge risk tolerance.
“Ultimately one should make sure that they have three to six months income saved for a rainy day because any money you invest in the market should be locked away for medium to long-term investment goals,” he said.
