Beneficiary account works like this, let's use an example...

Beneficiary = your wife
Account operator = you

So, u will be the one managing the FSM account, they take instructions from u.

BUT, REDEMPTIONS CAN ONLY BE PAID TO YOUR WIFE.

U wanna do that?

Huh.. Redemption cannot to me? Or maybe both still ok. But only to wife seems a bit weird..

Maby u check with FSM LiveHelp on Monday?

That's what I understand lar...cos Beneficiary account is like, u managing someone else's fund...it won't be right for the account manager to redeem and FSM pay to him, right?

From FSM website:The main account holder operates everything on behalf of the beneficiary, eg like a parent on behalf of the child (beneficiary). The beneficiary "do not have rights over this account".

This post has been edited by howszat: Jun 30 2012, 09:51 PM

Yea I read that. But hor...like previously EON Bank got this child savings account which my colleague opened for her daughter, she can only deposit, cannot withdraw from the account.

Do you guys think in near future to come, Fundsupermart investors will be facing problem on cannot buying in some funds anymore due to the funds closure to public because they have arrive the approved max units sold?

Something like what ppl is facing for some funds in PM..

This post has been edited by Kaka23: Jul 3 2012, 08:02 AM

The FM CAN apply to SC to increase fund size. Of cos existing unit holders approval is also needed.

In addition to what Pink posted,
er.. isn't FSM "an agent", not a Fund House per se that "publishes" the funds?
Thus, FSM has no actual "powers" to affect the approved max units in market, right?

Just curious and hope to be corrected if i'm mistaken

Wong Sifu~

Yeah

Kaka23, please forward your query to OSK-UOB / AmInvestment Bank / Eastspring Investments

This post has been edited by Pink Spider: Jul 3 2012, 10:02 AM

haha... I think if I ask them, their answer will be the same as yours. But sometimes, just hate it when cant buy into funds anymore to average down. I am facing this with some PM funds.. so now have to wait longer period to break even.

aiyo...AmBond Fund Size RM1,276.22 million (as at May 31, 2012) pun belum close lar...lu bimbang apa?

Anyone went to the FSM event at Menara Star last Saturday? The OSK guy intro a few award winning trust funds. The Emerging Market bond looks to have a good prospect. With China having slashed its interest rates recently, would this have an impact on the emerging markets such as Indonesia, Phillipines etc maybe following suit and slashing interest rates as well. Any comments?

Invested less than 3 months, and I'm up 3%++ with this fund

Which other funds made it into the Recommended List?

This post has been edited by Pink Spider: Jul 3 2012, 01:10 PM

Is it not good? They mention that the fund return is around 6% since its inception in January this year.

The recommended list for 2012/2013 will only be announced on 11 July. There will be more funds and fund houses this time around. Also got more categories, one of them is emerging markets.

bro, if less than 3 months also can go up 3%++

means, if annualised, it may go up to 12%+ p.a.

This post has been edited by Pink Spider: Jul 3 2012, 01:20 PM

I see. Kk thanks. Just wondering any factors which could cause the reduction in the emerging markets bonds return. If those countries do follow China's lead in cutting interest rates, then it can only be good for the bond market right?

if u buy BEFORE the rate cut, good for u
if u buy AFTER the rate cut, bad

Means buying now is not that good because its after China cut its interest rates? The nav has been dropping steadily for the past week or so.

I just topped up A BIT today

What is gone and past we cannot get back
But the yield is still very attractive for Emerging Market bonds. Furthermore, OSK-UOB EM Bond Fund majority holding is not in China assets
Brazilian and Russian bonds make up a big chunk

This post has been edited by Pink Spider: Jul 3 2012, 02:56 PM

OSK-UOB Emerging Market Bond or OSK-UOB Emerging Market UT??