u said about 3-6 months timeframe. I'd say more likely than not that u will be disappointed with the returns (if not a loss). UT investing timeframe is AT LEAST 3 years and above. If u just wanna "invest" for 3-6 months, any seasoned UT investors can tell u only Money Market Funds is for u. Then u might as well place short-term FDs.

^
FSM Singapore

Bullish on Emerging and Frontier Markets?

This post has been edited by Pink Spider: Feb 6 2013, 08:05 PM

The fund's functional and reporting currency (accounting term) is Ringgit Malaysia. Thus, Ringgit appreciation/depreciation against other currencies is irrelevant to NAV accounting.

By that I mean, don't be overly obsessed with finding the next Lipper Leader/award-winner. Instead, focus on building a well-diversified and well-balanced portfolio with funds that are at least above average performers.

The most basic to do would be:
Region diversification
Asset class diversification

Welcome to the club

Oi, dun mislead ppl...u got 1% up in one week yet many many months ago the fund also experienced a >1% drop in one day

FSM also did a writeup on the fund's "amazing" returns in 2012 and telling investors not to expect it to repeat as its due to writeback of a bondholding previously written down/off.

Management fee is charged by the Fund Manager to the fund, and its the same whether u buy thru FSM, bank or direct thru HwangIM. Trustee fee is charged by the fund's Trustee to the fund, and its the same whoever u buy your units from.

Why lower sales charge?

The following is my answer. Of course, if u want a definitive answer, why not ask FSM direct?

The bulk of the SC actually goes to the agent. With FSM, they have NO agents to maintain. And being an online distributor, they do not need to maintain physical offices throughout the country to serve clients' needs (they only have 2 offices, 1 at KL and 1 at Penang). So, the answer is - vast savings in manpower costs and overhead costs as compared to the "traditional" UT distributors like Public Mutual and CIMB Wealth Advisors.

Annual Expense Ratio is calculated by = Total expenses / Average fund size
*total expenses = management expenses, auditor's remuneration, tax agent fees, other expenses like statutory filing etc

U can see how it is calculated in the prospectus and annual/interim financial statements

This post has been edited by Pink Spider: Feb 11 2013, 12:02 AM

It's all accounting.

Let me use a simple example to illustrate.

ABC Berhad
Fixed asset = RM1 mil office building
Current asset = Share investments (let's assume RM1 mil at 01-Feb-2013, RM900K at 10-Feb-2013)
Staff = 2 managing directors with monthly salary of RM10K each
Share capital = 1 mil ordinary shares of RM2 each

NAV of ABC Berhad at 10-Feb-2013
= RM1 mil + RM900K - (RM10K x 2) / 28 x 10
= RM1,892,857

NAV per unit i.e. share
= RM1,892,857 / 1 mil shares
= RM1.89

Even though salary i.e. management expenses is paid once a month, it is accrued on daily basis for accounting of NAV

This post has been edited by Pink Spider: Feb 11 2013, 12:15 AM

Correct

To illustrate further, let's say u have

Fund ABC 3-years average returns: 5% p.a.
Average MER: 1.6%

Fund XYZ 3-years average returns: 5% p.a.
Average MER: 2.2%

It means that XYZ's gross investment returns are actually higher than ABC, but the net returns are dragged down by higher expenses relative to ABC.

Boring day...charted my equity funds using data obtained from latest Fact Sheets, share with u guys

This post has been edited by Pink Spider: Feb 12 2013, 05:35 PM

Emerging Markets

can get historical nav up to 10 years from Bloomberg, but dunno accurate or not. Just type the fund mame at the "QUOTE" column at top right of the screen

click to view "interactive chart" for nav up to 4 decimals. yes, chart only, no table.

What gives u this idea?

yea, i hv already posted previously, Pheim focuses more on small-mid caps, hence the volatility. EI SYARIAH may hv higher expenses, but they consistently delivered.

My suggestion is, if you're new to UT investing, better start with a relatively small portfolio, don't start with too many different funds.

I presume that you are starting from zero. As such, why not pick a global equity fund? Leave the region allocation (which region got better growth potential? how much % to allocate to each region?) to the Fund Manager.

One global sukuk/bond fund (I suggest around 30%) -
AmDynamic Sukuk (a new fund, hence not much historical data to do comparison and evaluation)

One pure MYR sukuk/bond fund (I suggest around 40%) -
AmBon Islam (nothing exciting, but it gets the job done. Well, as someone said, let your equity funds deliver the adrenaline rush )

One Malaysian equity fund (I suggest around 10%) -
Kenanga Syariah Growth (keep minimal allocation to this until the General Election risk is resolved)

One global equity fund (I suggest around 20%)

A 70/30 portfolio should be good enough for a newbie.

And with that, Pacific Dana Dividen comes to mind.
http://www.fundsupermart.com.my/main/fundi...number=MYPMFDDF

The attached chart shows how Pacific DD fared for the past 3 years against EI APSE and MSCI World index:

This post has been edited by Pink Spider: Feb 12 2013, 09:37 PM

Inter switching? Then u need to look for funds within the same fund house.

A bit difficult...cos the "star" funds are all from different fund houses

Take your pick, do your own mix and match

Global bond
Hwang Select Bond
OSK-UOB Emerging Markets Bond
RHB Asian Total Return

Pure MYR bond
OSK-UOB Income Fund (up to 30% in Asian bonds)
AmBond
Kenanga Bond

Global equity
Pacific Global Stars
Pacific Dana Dividend (Shariah-compliant, heavy Malaysian focus)
Alliance Global Equities
OSK-UOB Global Equity Yield
RHB Global Fortune

Malaysian equity
Kenanga Growth
Eastspring Investments Equity Income
Hwang Select Opportunity (up to 30% globally, Asian focus)
Hwang Select Dividend (up to 30% globally, Asian focus)

Yea, most funds got no exit fee. Like in this case, u will kena charge at the "buy" side, Kenanga.

Yea, HwangIM is a good fund house.

This post has been edited by Pink Spider: Feb 13 2013, 09:59 AM

Don't go too heavy on AQ, cos it's technically an Asia Ex-Japan small-mid cap equity fund. U can have it as a smaller % of your portfolio, though.

Start with a basic portfolio of 1 MYR bond fund, 1 global/Asian bond fund, 1 Malaysian equity fund and 1 global equity fund. U can also include an Emerging Markets equity fund or Asia Ex-Japan equity fund like Hwang AQ if u like.

Start simple, then as u gain more experience and more comfortable juggling your portfolio, u can have more region-specific funds. FSM Recommended Portfolios are a good references to start with.

1-2K a month is A LOT. Start with the minimum initial investment, then slowly build up your portfolio value to even out the entry cost. U don't wanna dump at one go only to find out u entered at a high point.

This post has been edited by Pink Spider: Feb 13 2013, 10:22 AM