Mar 29 2011, 10:41 AM
QUOTE(DarenS @ Sep 7 2010, 06:39 PM)
Dear all (especially David83, Jordy, and Guanteik)
I've been investing in PM for quite a while and have been using the switching strategy to time the market the best I could since I monitor exchange rate and stocks for my daily work. I have 2 questions for all here:
1) How strict is PM about the 21 days switching rule? The fineprint says PM reserves the right to reject any switching transactions if its done within 21 days of purchase/switching. Sometimes we can't wait for 21 days when the market requires us to switch (either cut loss or lock in profit). I have switched before 21 days a couple of times and they were all accepted so I'm not sure how strict this rule is. I've called PM before and the guy told me they're not very strict as long as the switching within 21 days is not done TOO often. But he couldn't explain to me how OFTEN is OFTEN? It's so subjective. I'd prefer not to accidentally repurchase when they reject my transaction so can anyone explain to me? Thanks!
Thanks for your time and hopefully someone can give me a clear explanation for the above.
DarenS
I read your post after searching from google. I don't have the right answer actually but your experience tells me something. It relieves me because the rule is not implemented automatically. I've been investing in PM for quite a while and have been using the switching strategy to time the market the best I could since I monitor exchange rate and stocks for my daily work. I have 2 questions for all here:
1) How strict is PM about the 21 days switching rule? The fineprint says PM reserves the right to reject any switching transactions if its done within 21 days of purchase/switching. Sometimes we can't wait for 21 days when the market requires us to switch (either cut loss or lock in profit). I have switched before 21 days a couple of times and they were all accepted so I'm not sure how strict this rule is. I've called PM before and the guy told me they're not very strict as long as the switching within 21 days is not done TOO often. But he couldn't explain to me how OFTEN is OFTEN? It's so subjective. I'd prefer not to accidentally repurchase when they reject my transaction so can anyone explain to me? Thanks!
Thanks for your time and hopefully someone can give me a clear explanation for the above.
DarenS
However, during the past 2 months I have switched 6 times between PMMF and other Equity Funds. And surprisingly they have been no rejection from management. Thus, by dividing 60 and 6, you get an average of 10 days, imagine how short it was. I know, I know, it's doesn't matter how fast you switch because the real question is how often can it be done... Let me give you a hint, --> Gold members are given the privilege to do free switching 18 times( that means no RM25 charges incurred for each process). Try to divide 365 days with 18, you will get 20+ days, even round off it does not equal 21 days. So, you can feel free to do so as often as 18 times a year...maybe a bit more often.
Added on March 29, 2011, 10:47 am
wait isn't it 18 times?
This post has been edited by primepeng: Mar 29 2011, 10:47 AM
Quote
0.0422sec
0.20
7 queries
GZIP Disabled