Hi All, which is more beneficial :- jointholder name or nominee? If as a jointholder, do both of the person subject to income tax?

Yes, you can. But it you are at the branch office, might as well do also the PMO registrationl; unless of course you are dumping PM for good...


AFAIK, the income is already taxed at source; and so far, I have not bothered to include them into my income tax, since the distributions are 'reinvested' and I don't touch or received any income from the funds. Futhermore, I supposed the tax declaration is for those who had actually received the distributions and are seeking a tax rebate on the difference between the 'taxed at souce' and personal incotme-tax.

Or maybe I am mistaken, and the tax man will be knocking on my door soon.

The main benefit of having a jointholder account that I knew of is that the secondary holder will take over the account after the demise of the primary 1st account holder. I'm not too sure a nominee can take over the account or not and continue on having the account, as all the info I got points to the nominee getting the monies with ease.

For more info, see this link http://www.publicmutual.com.my/LinkClick.a...e78%3D&tabid=69 on Trust Nomination. It explains the differences between trust nomination and a will.

The other benefit of being a jointholder is the free PA insurance if you are a gold or elite member. Say the 1st holder met accident and suceesfully claimed, and the 2nd holder took over the account upon demise of 1st holder, the free PA insurance continue to cover the 2nd holder.

For more info on the free PA coverage, see this link http://www.publicmutual.com.my/LinkClick.a...8v0%3D&tabid=69

So I guess it is best to have both. Thank you for this question, as my thoughts were only on the 'transfer' option all this while.

Cheers.

Thanks j.passing.by I have PMO myself, just helping my aunt to ask around as she plan to sell all due to unresponsive service from her PM consultant

if there a way to made report to PM office so they will get rids of those bad PM consultants to save themselves?

This post has been edited by ehwee: Sep 6 2017, 05:55 PM

thanks man for the explanation. my SA did not reveal that jointholder piece earlier. just slight worry if i'm putting my name there as jointholder - taxman will come knocking on my door

which thype of fund is most prifit with low risk?

how much profit do you "expect" to see?
how long do you "expect" to see that profit number achieved?
how low is low risk? ...for your low risk may not be in line with the low risks of others....

deleted..2x posting

This post has been edited by MUM: Sep 13 2017, 01:24 PM

I'd imagine people who ask this usually has a short investment horizon i.e. <3 years and are really just looking for anything that gives more than typical FD.

so I'm guessing to shove Fixed Income / Bonds down their throat until they choke on it just kidding

Like asking which prostitute is most virgin....

or

Which junk food is most healthy?

Profit or return is diametrically oppose to risk.

Xuzen

This post has been edited by xuzen: Sep 14 2017, 02:35 PM

Hi guys, I wish to know can We withdraw the pb mutual fund in public bank?

I requested for PMO but when come to SMS code verification, it doesn't reach my phone. (though the number is about same as mine phone number)

Any idea?

byeworld can you explain clear what you meant by" about the same " phone number ?

better you call for help to your agent or PM office I suggest

This post has been edited by ehwee: Sep 27 2017, 07:23 PM

if pb fund yes you can but not for public Mutual fund that you need to withdraw from public mutual office.

just back from PB Penang.
asked the PB mutual funds personnel....
she said "if you have bought PB funds from that particular PB bank, then they can help you to sell, but if there are people calling you asking why you sell....you must insist that if was your decision to sell".

must have bought PB mutual fund before, then go back to that PB bank (for only that bank can see your details) and they will help you sell

else, you have to go to PM office

I have to correct my previous opinion on registering into PMO. It is better to have PMO even if there is an intention to fully withdraw and get out of Public Mutual funds.

With PMO, you can:
1) Change the banking details, such that the money can be transfer directly to your bank account - which may be at another bank apart from Public Bank.

2) PMO is reliable and safe. All the transactions are based on TAC codes send to your mobile phone.

3) All the necessary details are present with you online, and you save the hassle of filling them again if you are doing any buy/sell transaction over the counter, be it at the PM branch office or at a Public bank.

4) If you want to sell any funds, and want to pick the best date to do it, obviously the best option is doing it online.

=============

Please don't be too concern with 'bad' PM consultants. They are not financial advisors who can truly advise you on how best to manage your money.

The best service any UTC can provide to their clients is doing a profile of the investor based on a set of questionnaire to pegionhole the investor as a conservative, moderately aggressive or aggressive investor. And then supply him/her the appropriate funds to select.

Almost all other transaction services that an UTC can provide, it can be done online via PMO.

I know... and heard of claims that there are "good'' UTCs who help to 'manage' their clients' funds and/or give "advices" to their clients.

Before anyone of you readers here believe these claims are true or not, please read up and understand the duty and services that an UTC can and cannot provide.

And most of all, please do not expect too much out of the upfront service charge that are incurred in buying each unit trust fund.

Please la don't have the attitude that your one cent coin is as big as the wheel of a bullock's cart, and expect the UTC to be your own personal financial manager at your beck and call, just because he/she pocketed the commission you paid.



=============

If you have a public bank ATM card and are using the public bank ATM method to register, first make sure that the bank has your current phone number. When you are at the bank, ask some personnel to verify the number and update it if necessary.

(There is no flaw in the process, I have done it before. I got the TAC code immediately after I had updated them (the bank) of my current phone number. My bank account was opened ages ago... and having several bank accounts, already forgotten which bank account I have or have not update my address/phone number. )

If you are at a Public Mutual office, you can immediately get the username/password handed over to you in a sealed envelope.

Hope above helps.

because it will only show 2 number of your phone when it pop up a message of sent the code to your phone, e.g.; XXX4XXX8

true, its very important to purchase fund from a trustworthy/responsible agent.
You can just walk in to any public mutual branch to get assist.

Hi guys. I registered with my in-law for this Public Mutual fund, worth only 1K.

My in-law told me that Public Mutual is suitable for long-term. He is helping me to monitor my funding. So, if I wait for 10 years without adding or minus anything.

How much will I get in return after 10 years?

While waiting firmore value added responses....
I kay pohabit.....i gyess it has to dependsonwhat you buy, what is there any switching, what is the economic situation at that time of redemption....in short it has to depend......maybe negatives return, maybe break even, maybe worst than FD Rate, maybe more than 10%.
Btw, what is yr expected returns?
Do you know how much the initial sales charges is?
Do you know the risks involved in mutual funds investing?
Do you know that fund is suitable to you in terms of the volatility involves?
Well i guess they does not matter as you don't monitor them

Back to Basics.

Fund Holidays.

If you are micro managing your funds, ie. monitroing the market indices and choosing the right day to switch funds, you may want to know the funds' holidays too. Otherwise you may be caought by surprise that the stock market relevant to the fund is off for holiday.

For example, most of the Asia Pacific funds are down last week, and it is the right opportunity for you to switch into or top-up a particular fund this week. You may want to see first how is the relevant stock market, say the Hang Seng index, is doing today before you decide to top up or not. (This is an example of micro managing; whether it is worthwhile to micro manage UT funds - is another story for another day.)

And if you happen to know that this week is a short trading week with only 2 days open to business for most of the Asia Pacific funds, you may also find it favourable to have done some transactions last week instead of delaying it to this week.

So aside from monitoring the market indices, knowing the funds and markets holidays is equally important if you want to micro manage your portfolio on a daily basis.

Where to get the info on holidays.

a) Use google. Check out the relevant market index holidays, and book mark it for quick reference.

b) Check the fund company's website. The fund's holidays or non-pricing days maybe published there.

For Public Mutual funds, you may refer to this link: http://www.publicmutual.com.my/LinkClick.a...kY%3d&tabid=440 It is on the fund prices page, within the "Business Day" subsection.

Relevant Market Index.

If you check out the fund's holidays or non-business days, you may also get to know which market is relevant to the fund. For example, the China or Greater China funds are mainly invested in China, Hong Kong and Taiwan. While Far-east and Asia Pacific funds would includes South Korea.

Also that the fund's investment into Chinese equites are usually those Chinese stocks that are listed in the Hong Kong stock exchange, not the Shanghai stock exchange.

From the above link, it is noted that this week, there are 3 non-business for most of the Asia Pacific funds.

Monday 2nd Oct: Hong Kong (The day following National Day of China.)
Wednesday 4th Oct: Taiwan & Korea (Mid-Autumn Festival & Korean Thanksgiving Day.)
Thursday, 5th Oct: Hong Kong & Korea (The day following the Chinese Mid-Autumn festiival & Korean Thanksgiving Day)

Also, next week:
Monday, 9th Oct: Taiwan (Adjusted Holiday).

As for the China or Greater China funds, they have the same holidays as above, plus next Tuesday.
Tuesday, 10th Oct: Taiwan (National Day).

The fund's holidays indirectly shows which markets it is heavily invested into, and which stock exchange and stock index is more relevant to it.

Cheers.

==========

Correction on a copy & paste error: Hong Kong is off today, 5th Oct.

==========

HSI gained +0.73% yesterday. HSCEI (Hang Seng China Enterprises Index) gained +0.81%. Positive gains in Taiwan today.

If they are still in the green tomorrow, these China and Asia Pasific funds could be having their best week of the year.


This post has been edited by j.passing.by: Oct 5 2017, 03:26 PM