U Mobile becomes first telco in Malaysia to offer unit trust

21 May 2019 / 15:42 H.

U Mobile Services Sdn Bhd, the subsidiary of U Mobile Sdn Bhd has inked an agreement with iFAST Capital Sdn Bhd to offer a wide range of unit trusts from FSMOne, iFAST Capital’s B2C online distribution arm.

The unit trusts offerings will be made available on the telco’s GoPayz app and website from the third quarter of the year.

U Mobile Services director Alex Tan said that U Mobile Services and its parent company have been aggressively expanding its range of digital services.

“U Mobile and U Mobile Services are always looking at ways to enable customers to reach their unlimited potential. In this instance, iFast Capital is the perfect partner for us to bring unit trust investments to customers, as they have a proven track record and are equally known for innovation.

“This collaboration will make unit trust investment accessible to all our customers. Firstly, they will be able to make informed decisions based on objective and comprehensive insights shared on FSMOne,” said Tan.

He said customers will also enjoy greater convenience as they may invest in FSMOne’s unit trust offerings via the GoPayz app and website.

“Thirdly, as everything is transacted digitally, customers get to enjoy lower sales charges that are between 0% to 1.75% when investing in unit trusts on FSMOne’s online investment platform. The charges are lower than what one would pay when they transact offline, as those sales charges are usually between 3% to 5%,” he said.

iFAST Capital’s managing director Dennis Tan said the online investment platform shares U Mobile’s vision of making investment accessible and inclusive to all.

“Not only will customers enjoy low sales charges, but they will also benefit from a low entry barrier where the minimum investment amount for most of the unit trusts on FSMOne is only RM1,000,” said Tan.

email blast