Already pay the 5.5% sales charge lo... hold on and see lo...

Why public mutual so underperformed these few years ??

You got it right - my mistake as the RM25 fee is for 'transfer' (to another person), not switching fee. And I'd posted before about no switching fee when switching from low-load units to loaded units... getting older and more forgetful. 

Yes, switching will have an immediate effect, while redeeming and then purchasing another fund will delay the purchase by 1 or 2 days.

Since we cannot switch from other funds into these new Cash Deposits funds, I think Public Mutual is trying to promote and make full use of its online system for fresh investments.
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I don't think I'm alone in not putting in anymore fresh investments when there are cheaper alternate avenues. 

If they are to remain competitive, the service charge has to be lowered.

Maybe they could do it in a series of minor policy changes... like adding the distribution of the Public Series funds to Public Bank, and follow up with allowing the switching of units between Public funds and PB funds, allowing a new investor to open account online or with minimal help at Public Bank (and Public Mutual branches), and eventually lower the fees online.