Just because equity didn't behave in the past 2 years, doesn't mean we should punish them

seriously... i'm not a bond fund person... but the very sad truth is my best performing fund is my RHB asian total return fund. double digit IRR... my equity funds while have recovered alot but still at single digit return.
in the long run... equity beats cash.

Mine is still under the water: -2%

FSM website is easy to get lost in, what's with the links and news!

Can anyone point me to where I can find the current offers/promotions FSM has?

When I logged into FSM today, I got this pop out.

[attachmentid=7245209]

Congratulation, now you can have special lunch during FSM big events or invited to special dinner promo events.

Silver only? Are you sure?

even if i had silver or gold it won't matter when I'm in this piss far away town called kuching.

Top up time...

Most likely
Did u top up?

I want to dump this fund: Affin Hwang Select Asia (Ex Japan) Opportunity Fund

Great
Awaiting the Merdeka promotion, if any tis mth end

One of my laggard in my portfolio.

I'm thinking if to switch it to Ponzi 1.0

Last year promo @ 0.57%
Hope 0.59% tis yr

This fund always lag behind ponzi 1.0. I switched for >1 year and never looked back. So far affin hwang I only like 2 funds - ponzi 1.0 and select bond.

Thanks for the vote of confidence, guys !

So for equity funds covering these geographical location, would you prefer cimb-principal china-india-indonesia or manulife india? The performance of these two looks comparable to me.

Strictly from a number perspective, Manulife India has better risk-adjusted performance compared to the other.

On my portfolio, I already have China, HK & Indonesia exposure through RHB Asian Income fund. That is why I use Manulife India to plug the gap.

If you don't have it, the CH-IND-INA looks ok also. But I reckon the contribution from Indonesia is not that great. Indonesia performance from past three years has been bad. Hence the UTF CH-IND-INA, the contribution mainly from CH (HK) + IND , not INA.

Xuzen

Can I ask would there be a merdeka sales promotion?

Aoisky, aren't you a CFA student? Why ask? Lecturer give talk you play Pokémon Go ah? Never pay attention meh? OK, the below is meant for the lay-people.

There are a few accepted risk - adjusted return measurement.

The simplest, that is, kindergarten level is simply take the ROI divided by the Standard-Deviation (over a the same period). This is the one easiest to understand and use.

Next, we come to the well known Sharpe Ratio, which is the above (ROI tolak Risk Free Rate) divided by the Sta-Dev. Just because it was some Mat-Salleh who made it famous, Nobel Prize gave him an award.

Then lagi some ang-moh, some fella named Treynor, went and tweaked the formula, instead of just follow rule and use Sta-Dev, he went and pandai pandai use Semi-Deviation pulak. What the h3ll is Downside Risk Only Standard Deviation you will ask. If you do not know what I am talking about, go google semi-deviation.

Now we come to some STPM level stuff....

Next, we have the Jenssen - Alpha Risk Adjusted Performance , also known as JA-RAP (pronounced Jay-Rap). This one will tell you whether it is worth paying that Fund Manager the sales charge or not to manage your money. Most fund manager very afraid of showing this to the unit trust investor one.

... and finally, go to the University level stuff, which is also my favourite; Introducing [drum roll...] Franco & Leah Modigiliani Risk Adjusted Performance also knowns as M2M or M2 ratio. This allows you to bring risky asset of different classes and compare them apple to apple. It is a extension of Sharpe ratio theory and addresses some of the short coming of Sharpe Ratio. Incidentally, these pair of father & daughter team used to work for Morgan Stanley. Why is this significant? Well to me it means that these two person are real full time practitioner and not some academian tuck away in some ivory tower.

Xuzen

For people like you stick with ASX.... Sharpe ratio = infinity.

Xuzen

Office system does all the heavy lifting la. If it has to be done manually, I won't have time to layan LYN and chase Pokemon already. Anyway, I don't really rely on ratios when it comes to funds. Not useful when managers make changes to the portfolio, actively rebalance holdings or keluar mandate. It becomes qualitative instead of quantitative.



Investors tend to want to be spoon fed, or be given strict guidelines on how to make money. So when they are told simply that a high sharpe ratio is good, they will just sort funds by sharp ratio, and pick a few funds with the high returns ... fits the "curve".

Hypothetical situation :
4Q2014 :
- 1Y, 3Y Sharp ratios for CIMB APDI, Eastspring MY Focus, Kenanga Syariah Growth all above 1.3, APDI >2.0
- 1Y, 3Y (and some 5Y) performance was double digit.
- "High sharpe" and "high returns" ..... go balls deep lor.

1Q2016 :
- Invested for one year all the "winners" are now "losers".
- Portfolio is down 10-20%.
- Too painful, cut loss. The end.

10-20% may not sound like a lot, but when it can buy a house, it can be painful, even to HNIs. Which is why WMDs, weapon of mass destruction.