Dear Semerah Padi, if U are looking for absolutes and 1s or 0s, i dont think investments would be your cuppa tea. No matter and whoever (human lar) tells U that U are SURE to profit when U redeem/sell/switch after 15 years either is lying through his teeth or has a crystal ball which has yet to be invented.

Real life has yet to evolve into black & white OR "for sure" yet (except for death of course )
Hm.. there seems to be more & more "crystal ball" questions these days - more newly minted investors/learners or..

However, if U want to talk about probability and possible returns pa, that's a "more real" expectations.

Posted earlier
For statistics on Public Mutual funds' historical data.
10, 5, 3 & 1 yr ending 2011
10, 5, 3 & 1 yr ending 2010
10, 5, 3 & 1 yr ending 2009
10, 5, 3 & 1 yr ending 2008 (as a comparison on how bad crashes can be on Mutual Funds - yo yo! WHO said die-worsi-fication is good to protect yr investment take a look at this! Diversification shd be done across different categories of Assets, eg. Bonds, Equities, Alternatives, Cash Equivalents)
http://forum.lowyat.net/index.php?showtopic=690951&st=1180


1 last Excel to share - year ended 20071231 for 1, 3, 5. 10years.
Note the CAGR CRAZY returns - would this confirm then when things are far from "average returns", they tend to snap back to average (return to mean)?
Your ideas / feedback would be great - taking into account the other stats ending for 2008, 2009, 2010 & 2011 May
http://forum.lowyat.net/index.php?showtopic=690951&st=1193

This post has been edited by wongmunkeong: Jul 1 2011, 03:10 PM

huh? i thought with the single-tier enacted, even if our tax bracket is lower VS taxed % from dividends, we can't get back the $?

heheh - what about ppl who are above the tax bracket? There was a couple of years where the Co dividend tax = 26% but max personal tax = 27%

Huh? U mean single tier tax STARTS for mutual funds after Dec 2013?

Oh - i thought all dividends, be it from equity funds or stocks, as long as taxable, can opt for Single Tier or non-Single Tier since 2 years back.

Would U be able to point me to the relevant article or link? Greatly appreciated sir / madam.

er.. bro, found this:
http://www.kpmg.com/Global/en/IssuesAndIns...xation_2010.pdf

3.1 Taxation of funds
Dividend income
Unit trust
For Malaysian taxation purposes, a unit trust (except for approved Real Estate
Investment Trusts (REITs) or Property Trust Funds (PTFs)) is treated as an
investment holding entity.
With effect from the year of assessment 2008, a single tier income tax system
has replaced the imputation system. There are transitional provisions that allow
taxpayers to utilize their existing dividend franking credits up till the end of the
year 2013.
Under the imputation system, a Malaysian resident company is required to
deduct tax at the prevailing corporate tax rate on taxable dividends paid to its
shareholders. This tax is already accounted for through the tax paid by the
company on its taxable profits which is accumulated as dividend franking
credits (Section 108 credits).
When shareholders receive taxable dividends, they are entitled to a tax credit
for the tax already paid by the company in respect of the income. Those credits
are then used to offset the shareholder’s tax liability.
Under the single tier system, profits are only taxed at the company level and
dividends received by shareholders are exempt from tax.
The following types of dividend income are also exempt from tax:
• Tax exempt dividends received from companies enjoying tax incentives (or
which had previously enjoyed tax incentives) which are paid out of exempt
income; or
• Dividend income received from sources outside Malaysia (foreign source)
and remitted to Malaysia (except where the recipient is a resident company
carrying on the business of banking, insurance or sea or air transport).


U know something more than KPMG or i misread ar?

If U meant
"Under the single tier system, profits are only taxed at the company level and
dividends received by shareholders are exempt from tax. "

and if i interpreted it correctly - yup, EXEMPT FROM TAX = needn't file for tax. Any tax specialists here to confirm or correct me if i'm mistaken ?

Agent bulletin lar bro

PMO (Public Mutual Online) will only ask U to change password WHEN U log in successfully. No emails or nothing.
Thus, if U received that request to change password when U successfully logged in, it's OK, heheh - unless hackers managed to hack into PMO server(s) lar

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Added on July 18, 2011, 8:54 pm0.93% nia la down. No meat - can't even cover 50% of the service charges

This post has been edited by wongmunkeong: Jul 18 2011, 08:54 PM

Bro, U can bring the cow to the water but U cant force the cow to drink water (unless U salt the fler )

Sharpe ratio is good but also not a holy grail - look at Long-Term Capital Management (LTCM)'s blow up while having a high Sharpe ratio . Beautiful Sharpe Ratio of 4.35 for a few years until kablooey.

Something to share from http://www.investopedia.com/articles/07/Sh...p#ixzz1TBhwS68Z
...Where It Fails
The problem with the Sharpe ratio is that it is accentuated by investments that don't have a normal distribution of returns. The best example of this is hedge funds. Many of them use dynamic trading strategies and options that give way to skewness and kurtosis in their distribution of returns.

Many hedge fund strategies produce small positive returns with the occasional large negative return. For instance, a simple strategy of selling deep out-of-the-money options tends to collect small premiums and pay out nothing until the "big one" hits. Until a big loss takes place, this strategy would show a very high Sharpe ratio. (For more insight, read Option Spread Strategies.)

For example, according to Hal Lux in his article, "Risk Gets Riskier", which appeared in Institutional Investor in 2002, Long-Term Capital Management (LTCM) had a very high Sharpe ratio of 4.35 before it imploded in 1998. Just like in nature, the investment world is not immune to long-term disaster, for example, like a 100-year flood. If it weren't for these kinds of events, no one would invest in anything but equities.
....

For those who wants to know more about LCTM:
http://en.wikipedia.org/wiki/Long-Term_Capital_Management

This post has been edited by wongmunkeong: Jul 26 2011, 02:03 PM

No lar bro - U good agent. Answer such Q with such A . Crystal ball gazing again...

Heheh - true but (always one somewhere ) it depends what is "long term" to customers and what's "long term" to market. I remember a joke from a trader - in the long term? in the long term we'll all be dead.

Methinks Boney is rubbing salt on wound / making a point about "in time, it'll recover and still make $" / long term concept. Just an ass u me pmtion

IMHO, them charts are a bit unreliable for personal investors to gauge their holding(s) as it depends on their personal cost of entry or entries and time held. Each of us may have gone in at different time/cost, thus, those lump sum at the opening VS value-averaging every 3 to 6 months, the value averagers are making better % for PCSF.

Yes, i'm anal about tracking my transactions - even down to per annum profit/loss per transaction basis (not the lump sum gross garbage produced by fund houses) I need laxatives....

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Added on July 28, 2011, 12:30 pmer.. yeah - what Xuzen said (sounds of wind blowing over my head )

This post has been edited by wongmunkeong: Jul 28 2011, 12:30 PM

Xuzen - how U calculate "the Jessen-Alpha ratio" for Public China Select Fund (PCSF) - 3 year average is of negative value.

Is it derived from some of the ratios from the Financial Planner software (fund performance)? Keypoh mar - want to run the numbers for other funds heheh, especially the ones my family, friends and i are holding.

risk free (Rf) rate = FD rate of 1month's term or 1yr's term? OR some other MM vehicle?



This post has been edited by wongmunkeong: Jul 28 2011, 01:35 PM

Good ol M'sia elek T-bills like that right? and even inflation-protected bonds/bills?

Good good 12mths FD rate. Domo arigato sensei Xuzen-sama

U can start new accounts with another agent
eg. if U already have PIX with Agent A,
now U open another PIX (different account number - dont worry, it'll be auto created) with Agent B.

However, if U are asking how to MOVE YOUR ENTIRE PORTFOLIO FROM Agent A to Agent B... not easy
You'll need 3 signoffs - U as the customer + your current Agent handling that portfolio + your new agent

Unless your current Agent loves U or is close to U, a bit.. colder than water chance... as yr current Agent gets "career benefit" from your equities and loaded funds held by U.

Hope the above clarifies more than

Maybe searching and reading first would be good - simple search in this topic itself with the word "dividend" can find liao
http://forum.lowyat.net/index.php?showtopi...&#entry43527289

your other Q is also answered in this same topic... buggering off to zzz now. Ran out of spoons to feed people....

This post has been edited by wongmunkeong: Jul 29 2011, 10:36 PM

Brother - either i'm in lala land (too much drinks and not enough coffee ) looking at my accounts now
OR ...

I have 2 agents for same fund, different account numbers now - staring at the Public Mutual Online NOW.

In addition, logic dictates that if a customer buys same fund from new Agent, new Agent gets commission, not old Agent.
OR
following your facts, CANNOT BUY. PUBLIC MUTUAL DOESNT WANT YOUR $?

Sigh.. i'm going back to women and wine.. more logical there..

This post has been edited by wongmunkeong: Jul 30 2011, 01:18 PM

No i'm not sure - there must be something wrong with my PC's screen or PM's online system

Please ask PM on "how to register another account for the same fund... FOR DIFFERENT AGENTS serving you" - i'm unsure of the mechanics. Like i mentioned earlier in this topic, it is AUTOMATIC.

hm.. maybe my level of English or written communication is going to the dogs due to spending too much time with... oh well..

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Added on July 30, 2011, 3:12 pmApparently your experience and mine aint true lor, including what i've been staring at every month (PM Online).
bwhahah - some fellows here doesnt follow the logic IF 1 fund must be only 1 account from 1 agent lar bro.
PM doesnt want its agents making $
PM doesnt want more $
thus, MUST be same agent for that 1 fund via Cash + just 1 other agent for EPF scheme.


hm.. or the rules just changed ar?

This post has been edited by wongmunkeong: Jul 30 2011, 07:21 PM

Returns = usually capital growth + dividends calculated
Yield = usually only dividends calculated

Thus, returns of REIT A = 13% which consist of 7% from Dividend yield + 6% from Capital growth (ie. price of stock)
In this context, REIT A's returns = 13% and its Dividend Yield = 7%

Good?