Different sales channel. PB series need to buy from Public Bank staffs/agents. Public series from PM UTC.

There's no difference, both under Public Bank... but there 2 groups of sales persons... one based in Mutual branch (Public series), the other in public bank (PB series).

For new investor, you will need to approach a sales person in a public bank (as you are interested in one of the PB series) and fill in forms, mainly to acknowledge that you know what you are doing and cannot later say you got cheated.

Other than that initial registration, you can get the appropriate forms from mutual branch or bank, and go to the bank and pay the money yourself over the counter.

As mentioned in above post, how you do it later - online, in person at bank or with another agent, it does not matter much since the service charge is the same.

(One reason why I'm not putting any more money into PM, and looking for alternative funds. The service charge is too high to cover as we get older (& hopefully wiser) and "long term" becomes shorter and shorter; only the 0.25% for bonds funds is acceptable.)

You will get an account number for each fund.

If you want to use another agent for same fund, normally he will decline and suggest another fund... as any top up to that fund will be on that initial account number. If you insist to give the new agent business on the same fund, it can be done by asking the former agent to sign and release the account to the new agent. Pai-seh to the old agent... that's why normally another fund is suggested.

Now the fun begins when you do switching (transfer from one fund to another fund).
Say Fund A switch to Fund B. Also fund C switch to Fund B.

Fund B will have 2 separate account numbers if Fund A and Fund B are under different agents.

If you stick with PM for 1 or 2 decades, this multiple accounts in your statement of accounts scenario is very likely to happen...

PBGF is only open to EPF; meaning you cannot pay cash... only transfer from EPF is accepted.

This post has been edited by j.passing.by: May 30 2012, 07:10 PM

Once again, you have solved my problems. But if I create an online account, which agent am I tied to?

Just to clarify:
An online account is NOT tied to any agent, in case U are thinking that.
Only your online newly bought fund's account number is tied to an agent or PM itself (if no-agent selected)

Personally, if i was a customer (not self-service agent ),
a. IF i have many accounts (ie. different funds) with Agent A NOW,
When i buy a new fund online,
i'd just select Agent A coz it'll be much easier for me to SWITCH between accounts under Agent A - UNLESS U hate Agent A's guts or something

b. IF i have only 1 account (fund) with Agent A + 1 account (fund) with Agent B and both funds are minimal amount NOW,
When i buy a new fund online,
I'd just select no-agent IF U do not wish to cultivate some business deals/services with either existing Agents (ie. U don't like their face/guts/etc.)

c. IF i wish to cultivate some business / services with either of my 2 existing Agents,
I'd talk with the selected one and get a mutual understanding and When i buy a new fund online,
I'd select that Agent as my Agent for the new fund's account.

Er.. those are just my personal thinking yar - no point cutting off nose to spite face as i still get charged 5.5% for equity funds.

Just a thought
PS:
Note that if U SWITCH from Fund A under Agent 01,
to a new Fund Z,
that Fund Z account will ALSO be under Agent 01
due to the "originating" $/units coming from a fund account under Agent 1, which is Fund A.

This post has been edited by wongmunkeong: May 30 2012, 10:37 PM

Thanks for your reply! So do you mean that the returns for both investments are similar?

Service charge is the same.

Return depends on fund performance.

Some said that certain PB series fund outperforms Public series.

Wow! Thanks for the lengthy but useful answer!

Are you sure that PBGF only accepts transfers from EPF?? How come the PB agent told me money will be deducted from my PB savings account??

Cool!

Based on your vast experience in investing, do you think PB Growth Fund is a good buy? At least for a beginner like myself...

Simple, it is in their website (it can only be found if you know where to look).
Here's the link... click the 2nd "read more" under Funds Not Open for Investment.
http://www.publicmutual.com.my/OurProducts/FundPrices.aspx

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"Personally, if i was a customer (not self-service agent ),..."
LOL, I have the FMUTM card; but never use it and just let it expired.

Oh my Lord! No kidding, right?? I don't have EPF. So how am I supposed to transfer from my EPF account?

why u worry if u dont hv epf? there are money potential funds waiting for u. just do homework which one is match with ur risk tolerance. or get a PB series agent to guides u.

First, don't panic.

2nd, be patient. You're not like catching a runaway train.

And stock market don't seems to be on a runway ready for takeoff yet. The KLSE (like its people, luv to do things late ) and is slow in following other stock markets.

And the other stock markets are falling or yet to fall until Greece until is booted out of Euro... my 2 sens...

3rd, PB has limited local funds that seems to be doing exceptionally well. You could take a look into PB Asean Dividend, my lucky fund that made me money.

Maybe you could suggest a potential fund for me? I can tolerate moderate risk... So the PB agent advised me to invest in PB Growth Fund. She said I need to have a PB savings account. Then the funds will be deducted monthly from that savings account.

Thanks for the calming words! Pheww~~

I am new to this game...so please don't blame me for getting nervous. Hehe...

Yeah I will check out PB Asean Dividend. Thanks, mate!

Hhehe - why ar?

With self-service, my estimated cost of investing into equity funds is about:
a. Cash: 3.4375% (including income tax of 25%) - near the "normal rates" of most fund houses and distributor
b. EPF: 1.6875% (including income tax of 25%) - beats the "normal rates" of most fund houses and distributor

+ can get access to those nice historic data for monkey-ing around with heheh.

Just a thought

Have same intention as yours - to cut down the service charge.
But bad timing - only got time to take action and take exam after sinking in a major bulk of my funds into PM
Then was reluctant to pay annual fees for nothing, so let it expire...

(If I'm going to put more money into PM, it's going to be bonds and the equity funds already bought is enough to strike a balance and to switch around... not much savings to gain in bonds 0.25% service charge. LOL)

Yah, spend money and time on the UTC thing, somemore went to Melaka to sit the exam because KL at that time were fully booked...


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Thinking of bonds vs equity funds, here's a suggestion if you are starting in your career.

Don't be too conservative in your risk outlook when time is on your side. Buy equity funds and slowly move towards bonds when you're near or after retirement age.

The higher service charge in equity funds is easily covered over the 15 years or so in the long term.

I don't like "balance" funds, too conservative; and with online service, it is easy to switch from one fund to another and re-balance your portfolio of funds whenever you need to.

(my 2 sens for newbies... but please make your own judgement and don't readily believe everything I wrote! Click the "Show posts by this member only" on the upper right to see my previous posts in this tread.)

Can I know what is self-service? I'd like to learn how to reduce the charges too!

Self-service = become an agent (sit for exam, pay yearly fees of about$100, become a UTC), then buy from yourself and service yourself (+ family lar IF they invest).
Additional $90 for the programs/application and access to historic daily NAVs + statistics & etc.

This post has been edited by wongmunkeong: May 31 2012, 01:54 PM

Is it easy to go through the procedure? How long would it take?

Those days sup sup water if U are an investor (know about things like asset classes, calculations, comparisons, etc.) + just mug up on rules/regulations & specific unit trust "structures" (fund house, trustee, investor, governing body, etc.).
Done in 30 minutes (minimum time even if finished those days).
These days - should be similar gua. 2 friends of mine just took it (one last year or so, another in 2009/2010).

Checkout the topic/thread on being a UTC / mutual fund agent somewhere in the Finance area or... <shouts> KPARAM!!!