I applied Public mutual moderate convention fund. Paid RM3k. However it required Management fees (2%) + service cahrge (1.5%) and the PPA account open for RM10.

Can we invest in few PRS provider? Maybe 2 provider?

I just opened a PRS account with Hwang yesterday with a pretty nice young lady CRM. For HwangIM, there is no sales charge, trustee fee is 0.04%, management fee is up to 1.8%, switching is 0%. Those charges by PPA is same for all the providers.

Pretty nice young lady crm???
Trustee fee for public is the same at 0.04%.
Is hwang's 1.8% for the growth fund or moderate or conservative. Public have different rates for different fund. Their most expensive is growth at 1.5%.
Are you sure hwang does not have exit fees?

ok, i got the breakdown liao.
taking growth fund as an example.

hwang is charging 0 entry fees, 0 exit fees, management fees of 1.8% + trustee fees of 0.4%; PPA is taking another 0.4% as management fees; transfer fees at rm50 per transaction to other providers

PB is charging 3% upfront fees (entry fees), 0 exit fees, management fees of 1.5%, trustee fees of 0.6%; PPA is taking another 0.4% as management fees; transfer fees at rm25 per transaction to other providers

As far as Public Mutual PRS fund is concern, contributors may obtained it from 2 distribution channels, either Public Bank or Public Mutual Private Retirement Consultant (PRC). The entry fee is at 3% with no exit fee for the moment and applies to all 3 core funds & 3 shariah compliance PRS funds. Interested contributors may check out Public Mutual PRS fund titles at www.ppa.my. However, the management fee of 1.5%pa DOES NOT apply to all Public Mutual PRS funds as it varies from one fund to another. Do visit the nearest Public Bank branch and get a Product Highthlights Sheet (PHS)

so basically it boils down to fund performance as the difference is quite minor.
Agree

any advice on which of these perform better historically?
PRS funds have only been launched at nothing more than 7 days, hence...

fyi, cimb is at management fees of 1.4% + trustee fees of 0.4%. transfer at rm75.

cheers!

Happy Investing!

ok, i got the breakdown liao.
taking growth fund as an example.

hwang is charging 0 entry fees, 0 exit fees, management fees of 1.8% + trustee fees of 0.4%; PPA is taking another 0.4% as management fees; transfer fees at rm50 per transaction to other providers

PB is charging 3% upfront fees (entry fees), 0 exit fees, management fees of 1.5%, trustee fees of 0.6%; PPA is taking another 0.4% as management fees; transfer fees at rm25 per transaction to other providers

so basically it boils down to fund performance as the difference is quite minor.
any advice on which of these perform better historically?

fyi, cimb is at management fees of 1.4% + trustee fees of 0.4%. transfer at rm75.

cheers!

i spoke to a PRS agent and apparently i was encouraged to buy their unit trust instead. In fact i was told that it is the government that put a mandatory for these banks to set up this PRS and they had no choice but to accept the government offer.

Also the fund size according to the agent will be very small, whereby only higher income tax payers will buy and max will only be RM3k.
Imagine in reality who and how many ppl in Malaysia really pay tax? This times RM3k/year and then divided into 8 funds approved by government.
Therefore the PRS fund size is very small for each bank and also no historical proven record.

I really into this PRS as it give 26% returns every year (via income tax). on the other hand, i am worried that with PRS given at lowest priority among the other unit trust by the 8 banks, the capability of fund managers assigned by the bank may not generate any growth of money.

Any thoughts?

I want to invest...

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Added on December 7, 2012, 12:02 amCan put beneficiary in PRS account?
Ans: Unlike EPF, nomination of beneficiaries is YET to be made available to PRS.  

i spoke to a PRS agent and apparently i was encouraged to buy their unit trust instead.

In fact i was told that it is the government that put a mandatory for these banks to set up this PRS Ans:Untrue and they had no choice but to accept the government offer Ans:Untrue .

Also the fund size according to the agent will be very smal Ans:Untrue l, whereby only higher income tax payers will buy Ans:Untrue and max will only be RM3k Ans:True, if you are referring to tax exemption .

Imagine in reality who and how many ppl in Malaysia really pay tax? This times RM3k/year and then divided into 8 funds approved by governmentAns: 8 PRS Providers and NOT 8 Funds .
Therefore the PRS fund size is very small for each bank Ans:Untrue and also no historical proven record.Ans: True, because it is NEW  

I really into this PRS as it give 26% returns every year (via income tax) Ans: Whether you are referring to "investment returns" or "tax returns", both are NOT true. Frankly speaking, I have the slightest idea what you are trying to say since the beginning of your comment.  . on the other hand, i am worried that with PRS given at lowest priority among the other unit trust by the 8 banks Ans:We are referred as PRS Providers and some of the PRS Providers distribution channel is via finance institution (Banks etc.) , the capability of fund managers assigned by the bank may not generate any growth of money.Ans: I am not following you at all

Any thoughts?