Thanks for the answer man.

Here's my case:-

Actually my agent inactive already, I received a mail from Public Mutual saying that I'll be automatically assigned a new agent, and I have choice to appoint another one within 3 months but I didn't do it.

I got a friend (not close) that is also an agent. So after this 3 months gone by (now I'm under a new agent that was auto assigned to me), I'm asking this friend to be my agent since she already advised me a lot about switching funds and whatnot. My friend told me that changing agent won't be charged, and since I wanted to switch fund as well I only have to fork out RM25.

All is well to me that I already fill in the form for new agent... until the day she went to Public Mutual to submit the application (she's offering this help to me and I didn't suspect anything)... suddenly she gave me a call saying that in order to change new agent I need to draw out all the money and then re-purchase the fund which I will then be charged 5.5% for service fee, and the worse thing is that SHE HAS ALREADY DRAWN OUT ALL THE MONEY FOR ME in check form under my name. Then she asked me to bank in the money first into my bank account and then make a new bank draft to buy the fund (with 5.5% charge). I was like what the hell I'm not going to put my money back into PM, I've already lost a lot and instead of just having to pay RM25 for switching fund (which I can do also with the new auto-agent) now I have to pay additional 5.5% for this?

Sad story, me an idiot for trusting someone I don't know well and won't have trouble ditching me for sure since we are not close friend... Now I'm considering legal action against her (if that is even possible).

Thanks for the answer man.

Here's my case:-

Actually my agent inactive already, I received a mail from Public Mutual saying that I'll be automatically assigned a new agent, and I have choice to appoint another one within 3 months but I didn't do it.

I got a friend (not close) that is also an agent. So after this 3 months gone by (now I'm under a new agent that was auto assigned to me), I'm asking this friend to be my agent since she already advised me a lot about switching funds and whatnot. My friend told me that changing agent won't be charged, and since I wanted to switch fund as well I only have to fork out RM25.

All is well to me that I already fill in the form for new agent... until the day she went to Public Mutual to submit the application (she's offering this help to me and I didn't suspect anything)... suddenly she gave me a call saying that in order to change new agent I need to draw out all the money and then re-purchase the fund which I will then be charged 5.5% for service fee, and the worse thing is that SHE HAS ALREADY DRAWN OUT ALL THE MONEY FOR ME in check form under my name. Then she asked me to bank in the money first into my bank account and then make a new bank draft to buy the fund (with 5.5% charge). I was like what the hell I'm not going to put my money back into PM, I've already lost a lot and instead of just having to pay RM25 for switching fund (which I can do also with the new auto-agent) now I have to pay additional 5.5% for this?

Sad story, me an idiot for trusting someone I don't know well and won't have trouble ditching me for sure since we are not close friend... Now I'm considering legal action against her (if that is even possible).

Right I know what she did but I thought she wouldn't do that to me after all her advises to me before... and plus I was thinking of investing more through her seriously since I'm thinking of getting out my money from ASB since it's not syariah compliant, and also got EPF money as well. Thanks man I shall do that though I don't know if Public Mutual gonna treat my case - small fish only :-(

I'm sorry for u.
1. u didn't make use the time given by PM.
2. PM already assign a agent for u. u still can make frendship with him/she. u r his/her client. sure they will take care ur acc.
3. u only want to change agent, why u sign switching/repurchase form?
since u already take out ur money....... if u trust PM funds.. there r a lot agents in here. so, u know waht to do. U can PM me also at kparam77@yahoo.com if u trsut me.

Right I know what she did but I thought she wouldn't do that to me after all her advises to me before... and plus I was thinking of investing more through her seriously since I'm thinking of getting out my money from ASB since it's not syariah compliant, and also got EPF money as well. Thanks man I shall do that though I don't know if Public Mutual gonna treat my case - small fish only :-(

Right I know what she did but I thought she wouldn't do that to me after all her advises to me before... and plus I was thinking of investing more through her seriously since I'm thinking of getting out my money from ASB since it's not syariah compliant, and also got EPF money as well. Thanks man I shall do that though I don't know if Public Mutual gonna treat my case - small fish only :-(

-wrong-

If you have signed the re-purchase form, then there is nothing much PM can do for you. looks like the agent wants to withdraw and reinvest all the money for you so that he/she can have slice of the fee.

It is up to you if you want to reinvest back to PM or choose other funds since you already have cash in your hands. I started with PM many years ago, and now is increasingly moving to other DIY online fund distributors as I find most agents is actually more annoying (hard selling) rather than helpful (but there are few gems of agent albeit far far in between), so the extra 3.5%-4.5% sales charge difference is not worth it. 

This aint a small case bro - it's a breach of trust and conduct.

Wow nice info on the DIY online fund distributors... Can point me to a thread discussing about that..?

Wow nice info on the DIY online fund distributors... Can point me to a thread discussing about that..?

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Added on August 4, 2011, 2:07 pm

Just got off a phone call with her, and also her senior after that. Seems like she'll agree on giving me back the commission that she'll be getting (%3) if I decided to re-invest in PM with her as an agent, making me lost "only" 2.5% in return... Gahh need more thinking time.

1. yup
2. yup, but she did told me no charge for changing agent
3. because she told me filling in the form is the procedure only, without mentioning the charge that will come with it. I wanted to switch both fund and agent and was told I will only be charged RM25 for the fund switching.

Can't trust anyone right now LOL... not even PM if don't treat my complaint I'm gonna go with CIMB pulak... God forbid if the same thing repeats.

Umm look under fund investment corner, this is a PM thread, otherwise OT. 

Good good - at least she made amends. I'd think she blur rather than purposefully earlier OR she knows what kinda hell U can give her via PubMut, especially if her rice bowl = 100% PubMut

sit for FIMM exam, get ur license and manage ur money by own and enjoy the own commisions.

Turnover is not management fees, it is rather brokerage fees. It is how much value of your stocks are being traded. Each time a stock is being traded, the brokerage will take a small cut.

Turnover = Total stocks traded / total stock holdings
High turnover can affect the following:

1. High brokerage costs. You can see the total amount of brokerage cost in the annual report and which brokerage they transact with. (90% back to their own investment bank..  )
2. Soft commission policy. Some of the soft commission charged by the brokers are more like additional (related) perks to the fund manage but charged to the fund holders. Perks includes, furniture, computers, software, magazine subscribtion, overseas travel for meeting etc etc.
3. Opportunity costs. If a fund with such large holdings trade too often they usually cannot get good prices in the market due to the volume they are trading, and they usually have to buy up. (Stock trader's should know this  ). Also if the fund is trading in and out what happen to the conviction of their picks? 

Not all high turnover fund is bad, but those with the highest turnover usually do have a more tepid results. 

What is the service charge for additional investment?

Hi wongmunkeong, kparam77, rkg38 & gark,

Thanks, really appreciate your support and comments.

I have too many commitment and I think I may not able to buy UT with cash at the moment.

I am comparing the return between EPF (average 5.5%) and UT (roughly 8-12%), hoping to use the EPF investment scheme to gain a bit more for my golden age. Thus, I am looking at the Public Balanced or PB Balanced fund and Public ITTIKAL fund.

My friend mention to me that I should constantly invest via EPF scheme every three months and should wait for the 'right moment' to invest. "right moment' like after '308' and the 'right moment' is coming soon... (hope you get what i means).

Thanks again.

My friend mention to me that I should constantly invest via EPF scheme every three months and should wait for the 'right moment' to invest. "right moment' like after '308' and the 'right moment' is coming soon... (hope you get what i means).

May I know what is '308'?