Please understand the difference between Phillip Mutual and public mutual  Phillip mutual is basically a place where they sell you various unit trust from various fund house. What is a fund house? Fund house are companies which have their own mutual funds/unit trust (Public mutual, Cimb principal, Kenanga, Eastpsring, etc)
eUnitTrust

Yes getting 10%p.a is doable but you need to know which unit trust to pick. Majority of the unit trust sold cannot even outperform amanah saham fixed price fund.
Avoid public mutual at all cost as their unit trust are under performing when you compare with their peers like Kenanga, cimb principal, etc.

Of course choosing the wrong unit trust = better to put to put your money in FD instead 

Depend on what you want and your risk level.  Are those funds giving you the deserve returns?  Remember,  if you are investing using EPF money,  it must be able to beat EPF return of 6%p.a. Did it return you 6% or lesser? If yes,  how does it compare with similar funds from other house?
Eg  PIDF returns only 7% vs fund house B which give 10%p.a return.  Of course fund B is superior.

You must also see during bad time,  how much is PIDF being sold down vs any fund B. The lower the amount of losses taken by the fund,  the better.

These are all questions you have to answer yourself. For me,  public mutual have never really beaten the other fund house performance hence better for me to avoid them totally.

If you want to move into kenanga,  or east spring,  recommend you use FSM rather than open an account with each fund house.  Cheaper. BTW the only good fund kenanga have is their kenanga growth fund. The rest sucks.

yeah.. FSM all they way, easier to manage if want to invest in few different fund houses..

probably his wife is working in EI. haha

Bond fund? Or Equity Fund?