5) Well, if capital gain + income distribution, the average return is 3% p.a.. for an equity fund, that is fund management team problem.

6) To give u more insight, the June 2022 financial report shows significant loss on top glove as compared to June 2021 (share price: 2022-RM1.10 vs 2021-RM4.10). Dont know cut loss at RM3 or RM2? Why top glove still in the book in June 2022 (share price RM1.10)? This is what I meant "prediction" Or "calculated risk". A capital lost of 20% already harmful, 25% should immediate cut loss. See the Donkey? Where is the risk management? Risk tolerance allows 75% capital loss? Sound fishy right?

7) No doubt, before 2010 till 2016 was a golden period of this fund. I supposed the fund was under the same competence fund manager, until 2016 he / she gone.

Anyway, I have given enough information for the audience to identify Donkey Manager. Hope the victim will be reduced, dont just buy what the salesman hard selling to the you.

I agreed ETF is the best option, especially S&P500.
Low fee, one of the best world index return.

Past performance does not guarantee future return.
This is reasonable and fund house favorite quote when the fund performs poorly.

Again, using my fund as an example, based on the longest period data that I can obtain:

27/10/2003, Fund price: RM0.47 , Bursa Index: 657

09/03/2023, Fund price: RM0.68 , Bursa Index: 1433

Fund price grew 145% over 20 years, Bursa index grew: 218% 20 years.

Lets the figure speaks.
Only income distribution makes the difference, capital gain is a joke

When income distribution also turned bad, time to cut lost.

Salesman always use fancy brochure and new fund to lure its victim, beware.

In house fund seldom shares their performance chat in Malaysia unlike oversea fund house, therefore the consumer can only rely on brochure sheet and limited info access to form the investment decision.

I will end my discussion here and Post #2801 of this thread shall be my valuable experience to you all.

How much income distribution and splits in that period??

Past performance does not guarantee future return.
This is reasonable and fund house favorite quote when the fund performs poorly.

Again, using my fund as an example, based on the longest period data that I can obtain:

27/10/2003, Fund price: RM0.47 , Bursa Index: 657

09/03/2023, Fund price: RM0.68 , Bursa Index: 1433

Fund price grew 145% over 20 years, Bursa index grew: 218% 20 years.

Lets the figure speaks.
Only income distribution makes the difference, capital gain is a joke

When income distribution also turned bad, time to cut lost.

Salesman always use fancy brochure and new fund to lure its victim, beware.

In house fund seldom shares their performance chat in Malaysia unlike oversea fund house, therefore the consumer can only rely on brochure sheet and limited info access to form the investment decision.

I will end my discussion here and Post #2801 of this thread shall be my valuable experience to you all.

Why are you talking about FSM when PUblic Mutual is closed end funds in the 1st place 🤦‍♀️ as they are not sold outside by any distributors unlike other fund houses
Forget about buying mutual funds as to hold because the sales charges itself is ready rip-off not to mention management and expense fees

ETFs way better for cost and tax efficiency not to mention only expense ratio fee being on top of brokerage which is next to nothing compared to sales charges

But brokerage charge is not as low as 1.5%?

But isn't UT supposed to outperform it's benchmark while an ETF will never outperform its index? That's why we are paying for all these fees..

After a decade with P-Mutual (PM), I decided to quit invest in PM.

With zero knowledge on investment, I chosen to invest in PM since 2010 as a fresh grad. I invested in an equity fund with adequate growth rate at that point of time (roughly 5-8% per annum). However, the overall return (distribution + capital gain) was unsatisfactory since 2016 for an Equity Fund.
Despite unsatisfactory result, PM still charging 5.5% sales commission and ton of other management fee & cost.

TO ALL OF YOU, if you decide to invest in PM, here is my LESSONS to you before you dump your money into PM:

1) Past performance of the fund tell you what result to expect (high rish high return), but please KNOW YOUR FUND MANAGER as well. My equity fund was managed by competence fund manager at past (roughly 5-8% per annum), maybe headhunted by other firm so the competence fund manager resigned. Based on the return in 2016, I supposed the fund is managed by a new DONKEY fund manager / LOUSY fund manager. Hence, THE OVERALL RETURN BECOME UNSATISFACTORY (roughly 2-4% per annum).

2) An equity mutual fund requires active management to outperform the market, that why we pay expensive fee (5.5% sales commission + other fees) to the fund management team. However, most of the mutual funds in Malaysia failed to deliver satisfactory return to it's mutual fund unit holders. The fund management team STILL EARNING MANAGEMENT FEE OF X% DESPITE THE FUND PERFORMANCE GOOD OR BAD.

3) 5.5% sales commission is fxcking expensive fee, this money can be used to grow into bigger investment sum in long-term. What I hate is, the fund management team STILL EARNING MANAGEMENT FEE OF X% from you DESPITE THE FUND PERFORMANCE GOOD OR BAD. Why should you pay an expensive fee when the management team perform poorly / or incompetency?

4) If you have invested in PM, learn how to detect DONKEY fund manager / LOUSY fund manager and prepare to redeem / quit the fund. The equity fund I invested has low return from 2016 to 2019 despite Malaysia economy is doing well. THESE ARE THE RED FLAG, if you find that the return is low for an equity fund for 2-3 years, QUIT the fund, it is a sign of DONKEY fund manager.

5) Mutual fund is good choice for beginner investor, but you need to learn to invest and managed your own money in long-term. If you dont manage your own money, mutual fund will charge you expensive fee (5.5% sales commission + x% fee) first before help you manage your money. Your CAPITAL WILL BE IMMEDIATE LOSS BEFORE THE MUTUAL FUND HELP YOU EARN ANY MONEY AND DONKEY FUND MANAGER WILL USE YOUR MONEY IN BURSA PLAYGROUND.

6) Most of the PRS mutual funds return so-so only, and PRS lock your fund until 55 years old. If you putting RM3000 for 15% tax relief (M40 benchmark) , around RM450 tax relief. I suggest you use RM3000 to buy some REIT / share, to get better return and no need to wait until 55 years old.

7) When you give all the carrot (5.5% sales commission) to a Donkey first, it will eat the carrot first without doing any job. However, if you put the carrot in front of the Donkey, then Donkey will move in order to eat the carrot. Malaysia mutual fund industry is the former, eat the carrot first, so the Donkey wont bother to work properly. If the mutual fund industry is not practicing performance based reward to the mutual fund management team, I dont see any reason why the consumer should invest on mutual fund in Malaysia.

Fully agree with this. Public Mutual is a scam. Better to buy Public Bank shares, or invest in ETF / blue chip stocks using DCA strategy over the long run.

Instead of buying PB shares you should buy their parent company LPI instead which owns PB

Wow, I didn't realize that. I invest my funds overseas more. SG/HK/US markets.
MYR depreciation cannot stomach, hahahaha.

Instead of buying PB shares you should buy their parent company LPI instead which owns PB

Completely untrue, LPI Capital owns Lonpac in Malaysia and 45% of a general insurance company in Cambodia. It is is no way the parent company of Public Bank. Market cap RM4.5b vs RM75b

Completely untrue, LPI Capital owns Lonpac in Malaysia and 45% of a general insurance company in Cambodia. It is is no way the parent company of Public Bank. Market cap RM4.5b vs RM75b

refer to the annual report 2022 (pg254) from LPI website, LPI is technically own by 'Consolidated Teh Holdings Sdn Berhad' (with 42.74%) which shareholder is 'The late Tan Sri Dato’ Sri Dr. Teh Hong Piow'...

https://www.lpicapital.com/downloads/annualreport2022.pdf

and if you refer to Public bank annual report 2022 (pg319) from public bank website, PBB is also own by 'Consolidated Teh Holdings Sdn Berhad' (with 21.64%)...

https://www.publicbankgroup.com/media/nhvfq...-compressed.pdf

Thus both LPI Cap & PBB are separate companies and the only share a common shareholders which is Consolidated Teh Holdings Sdn Berhad...

Yes at best Public Bank and LPI are sister companies since they share the same major shareholder, the estate of Teh Hong Piow. LPI is in no way the parent company of Public Bank.