Sep 3 2015, 11:28 AM
QUOTE(Hansel @ Sep 3 2015, 10:55 AM)
Time to consider if the Securities Comm decides to switchover :-
Will the issuer risk a 'bank run' by making an ann't prior to switching over and allowing everybody time to withdraw, especially the big unit-holders ?
Is the issuer able to, or rather,.. willing to absorb the withdrawn amount by the unit-holders who prefer to pull-out ?
It is not stated in any of the issuer's official docs on what sort of timeframe will be given for withdrawal period.
Hansel,Will the issuer risk a 'bank run' by making an ann't prior to switching over and allowing everybody time to withdraw, especially the big unit-holders ?
Is the issuer able to, or rather,.. willing to absorb the withdrawn amount by the unit-holders who prefer to pull-out ?
It is not stated in any of the issuer's official docs on what sort of timeframe will be given for withdrawal period.
I suppose u r over Worry as u keep highlighting tis issue everyday
ASNB will definitely make announcement when they decide to change from FP to VP
Food for thought:-
1. Almost all FP funds allocate their investment into equities n others on 80:20 ratio subject to +/- 10% range
2. When unit holders perform withdrawal, ASNB will use existing Cash to meet redemption notice
3. If existing Cash is insufficient, ASNB will need to sell some equities or others to meet redemption notice
4. If ALL unit holders withdraw concurrently, ASNB need to sell all investments in Bursa at whatever cost
5. If ASNB keep pressing Sell button at Bursa, the index will tumble or hit 'Limit Down' which will affect the entire Bursa sentiment
6. Proceeds from Bursa will credit to ASNB account on T+3 but ASNB need to meet redemption notice 'on the spot'
Last but not least, I wud advise u Sell all FP funds immediately if tis issue keep bothering u which will affect yo health status as the journey just started b4 it reach 31/12/2015
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