This is a valid reason, but NOT good enough to suspend the entire company as the posting might be carry out by competitions and it is debatable if this case is brought to the court of laws.

This is just my personal view.

I see this as a good move by EPF to suspense UTMC to rein in those UTCs who practices go against the code of ethics and FIMM & SC regulations.

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Added on October 30, 2012, 8:17 amAs I know UTMC have strict guidelines to adhere to, however enforcement have been severely lacking in the recent years, look at the number of blogs and FB pages promoting UT, UTCs themselves fail to observe the code of ethics set by FIMM. This would have likely caused some UTCs to make some remarks about EPF.

Anyway the days of blog, internet and FB promoting, and cold canvassing at EPFs offices are over now. It is about time UTMC and its UTCs toe the line. Good move by EPF.

This post has been edited by lunchtime: Oct 30 2012, 08:17 AM

Agreed

Hi,

I am a wealth advisor in the industry, and just to share some of the things EPF has done in its effort to safeguard their investor's interests.

Part of its effort is to ensure that investor's invest their money knowingly. Example, to invest using the EPF investment scheme investors have to sign & thumbprint on the forms. However, some consultants committed fraud by 'scanning' the thumbprint & printing them on the official form, as if the client gave permission to invest. EPF has warned the providers to take action & stronger/stricter enforcement on the consultants.

Also, EPF is very strict on its use of logos, name, etc. Even if you open a booth next to their office is prohibited & grounds for termination of your license to practice.

As it stands, it is within their right to suspend a provider to safeguard the interest of the EPF investors.

I read before that epf conduct annual review on fund managers performance to determine whether they stay in the panel of fund houses. Recent year poor performance of PM could be a contributing factor

Hi jutamind,

EPF conduct review of funds on an individual basis, I don't think Public Mutual fund is so bad that they will suspend a whole fund house.

Wonder whether Public Bank will make an announcement to Bursa on this suspension?

i think most Funds would be trespassing these rules, not just Public

Which is why it is about time EPF starts to penalise such UTMCs, therefore a good move by EPF. Start with the big boy, now the small boys will toe the line as well.

Is that fair? ALL who trepass should be suspended as well

What you have posted is about funds review which is different from UTMC suspension. Non perfoming funds are not allowed for EPF investment.

Public mutual has been a better investment house than most other banks like Cimb which offers lower returns
This can't be the story or excuse given to stop the license

Exactly..........Public is one of the better ones in terms of performance

It's either abuse or chinamen bank. Perhaps public bank gave too good returns versus the other bank pressuring them to perform better

I know most of my friends when investing with EPf use public bank only

I see nothing from the link given...PUBLIC MUTUAL BERHAD is still in the list of Appointed Fund Management Institutions... What is the problem here?

Hi sam sam,

Perhaps you are unaware that many companies offer good investment returns even higher than Public Mutual. However, they lack the marketing dollars, number of agents & reach to promote their funds like Public Mutual.

Also, I don't think its a conspiracy like you mentioned. This is usually an enforcement issue, & in my opinion it is probably temporary. My guess right now is Public Mutual has to rectify whatever reasons that caused the suspension.

Lookie agan

OMG... Thanks for your highlight... Gonna call the agent soon...

The latest i got fom my agent this morning:

Worry not... This is just due to misconduct one of NEW agent sbb openly promote ut investment and compare dgn epf return. Marahlah org epf btw today our pm mgmt akan ada meeting with epf.Insya allah everything is gonna be ok... Suspended temporary jer utk new account... Existing no Problem. Price drop?? Dont worry because this is ut.. A collective investment unlike open share market yg easily affected with rumors and bad news. So jgn risau ok.. Will update u from time to time .. Tqvm for yr support!

This post has been edited by bashir3: Oct 30 2012, 09:12 AM

BUT Can you invest in them with your epf monies?

like public index fund has been around almost 20 years as been steady return a good profit throughout the years