Take the exam and be a Hwang-PRS agent... then everyday you get free gift aka hwang-PRS rebate a small percentage of their annual mngt fee to you if I recall correctly is 0.75% p.a.

Xuzen

This post has been edited by xuzen: Aug 30 2013, 10:07 PM

RM100.00, then RM 100.00/p.a.. To maximize it, you need to buid up RM 13,333.33 Asset Under Management to justify this expense only then it becomes cost efficient.

I am way pass that magic number liao... paiseh, paiseh.


Xuzen

In theory it is usually better to split your tranche into several months because I assume you are not the type who sit all day in looking at the world indices on your computer screen ala a fund manager or hedge fund trader... you want to spread your risk. Hence investing consistently and periodically is better than one lump sum.

But...

If you are the type where RM 3,000.00 represent only a miniscule sum and are too busy jet-setting to Milan for a dinner with a client and then to Hong Kong for dim-sum breakfast with your second wife's sister for a secret rendevouz, then... by all means just dump the Rm 3K into the fund and forget about it.

PRS is very flexible, you start anytime, stop anytime, no commitment and no extra charges unlike ... cough...cough... insurance saving plans.

Xuzen

You can go through financial planning firm like Standard Financial Firm Sdn Bhd, VKA Wealth Planners Sdn Bhd or Great Vision Planner Sdn Bhd, etc or if you like to DIY, then Fundsupermart would be an alternative.

Hwang is not like Public Mutual... their agency force is very small. They mainly go through their appointed distributors like those I mentioned above.

Xuzen

BTW, a little Johnny come lately has entered into the fray. Kenanga aka "I bought ING fund management, yeah yeah" has used a short cut to enter into this potential lucrative market.

I hope they too offer zero percent sales charge and 1% Anuual Management fee. I hope they will use passive investment strategy by using the Fund of Funds method to keep cost low.

Xuzen

This post has been edited by xuzen: Sep 12 2013, 10:43 AM

http://www.youtube.com/watch?v=hSQcqSeBC3k

Astro Awani interview CEO of Manulife Asset Management (one of the licensed operator of PRS).


Xuzen

PPA online is a read only platform at this moment in time. You still need to go to individual operators to do the buy in.

Xuzen

Read post No. 253. to get the answer. Your question has been addressed before.

Xuzen

If your objective is just to reduce income tax, then it does not matter whether to put in lump sum or RM 500.00.

Generally, for purpose of smoothing the volatility, it is advisable to put in RM250 x 12 = RM 3,000.00.

Xuzen

Even though HwangPRS Aiiman is giving the best return so far, I am partial to remain with HwangPRS Growth because it has exposure to Asian hence better diversification whereas Aiiman is strictly Malaysia.

Xuzen

Another pleasant surprise from HwangPRS:

i've just received HwangPRS growth fund annual report in my email and I notice that the fund Annual Management Expense Ration aka MER is 0.5% p.a.

Xuzen

Prospectus puts it as 1.8% p.a., I guess that means that is the maximum mandate they can go. Anything higher, we as unit holders can lodge a complain to Sec-Com.

BTW, Hwang-PRS Moderate Fund AER is 0.3% as stated from their annual report sent to me via email.

Xuzen

Until end of this month nia... Hwang is zero until further notice

Xuzen

Happily invested in PRS... you bila?

Xuzen

This is insider news:

One of the reason why govt give this RM 500.00 rebate is because statistic shown that only 6% take up rate amongst the young working group i.e., aged 20 - 30 y/o.

The majority of PRS members are ahem.... old geezers like Unker Look and WongMunKeong and myself. PPA was even more surprise when they realised that many who reaches the age of 55 withdrew their KWSP savings and ploughed it into PRS because of the zero sales charge and no lock in period and better than FD ROI.

Xuzen

You can invest in all eight of them if you want to, just open a/c with FSM or Phillip Mutual and you can access seven of them already. Unfortunately one of them i.e, Public Mutual who always think herself as high & mighty will only allow her own agent to sell.

Alternatively, many of the financial firms such as SFP, VKA or Whitman are also multi-providers distributors. As a contributor, you are spoilt for choice.

Word of caution; as far as I know, only CIMB and Hwang offer PRS with off-shore assets. The rest are all jaguh kampung funds. As you know, a huge percentage of our retirement fund via KWSP are already concentrated in M'sia assets. It is good diversification to invest a little outside of Bolehland.

Between CIMB and Hwang, I choose Hwang because of her zero sales charge.

Xuzen

In this thread this question has been answered ad-nauseum. If you have a little initiative to look back one page; you'll get the answer.

And btw, Hwang-PRS has zero sales charge, i.e., no commission for the agent.... you think anyone would be a Hwang-PRS agent meh?

Xuzen

Doing charity ar?

Xuzen

I am a regular contributer to Hwang-PRS. This is my experience:

I have the soft copy transaction forms in my computer. Every month I just print out the transaction form, filled her up, transfer my desired contribution via IBG to Hwang-PRS HSBC a/c, scan the bank fund transfer advise slip and Hwang-PRS transaction form to their customer service email. After two working days, I will get an email soft-copy of their official receipt. I print out a hardcopy for safe-keeping. Voila, transaction done.

Next month, repeat ad-infinitum.

Xuzen

Aiyah... for PRS you need to contact those financial Planning firm. VKA is very active in this area. SFP and Whitman are also onto this bandwagon. CIMB bank? Buang masa aje....

There is VKA person here lurking in this thread... pm him/her lar. VKA also do CIMB wan.....

Xuzen