No balance sheet how to show provision for impairment of asset ler

So the only thing you would see if charge to income statement for this year and last year. Actually technically if and when FGV share price goes up significantly, they can recognise an income from reversal of impairment

Quoted investments also so hard to push for impairment, unquoted lagi no need la, first have to establish the fair value of unquoted investments, then need to determine that the reduction in value is prolonged and significant. Just focus on the quoted investments enough la. Besides, the fund mandate is to invest in quoted shares, so unquoted investments really should be immaterial

Means they do not make any impairment on unquoted investments, for reasons I stated earlier

You missed out the key ingredient - unrealised capital gain/loss

what you are talking about is only realised profits carried forward
But what we cannot see is the unrealised profits/losses that is likely to be in huge quantum because when market is down, it impacts all of the quoted shares held by the fund
For example YTD return on KLCI to-date is -3.9%, means the shares the fund held may also be down by 3.9% this year. So the reserves from last time (realised + unrealised) would be used to cover the shortfall, and hopefully it's enough

A good comparison would be to read Tabung Haji and EPF accounts. These 2 institutions mark to market their investments, but through available-for-sale reserves. So you can see that the reserves is depleting, and in Tabung Haji's case, it's now RM3.2b negative reserve, as of 31/12/2015. Most likely even worse in 2016 given the market conditions

If I must speculate, I understand SC's reluctance. After all they also regulate the other capital market products like VP unit trusts. So the more FP funds, the less vibrant or growth they can expect on the VP side. And it doesn't help with investors sophistication as well

It's always politically motivated la. SC is supposed to be the gate keeper and hence they are now the 'barrier' between launching new funds and increasing approved fund size

Since PNB Chairman openly say they aim to increase AUM significantly over the next few years, so I think your speculation does look probable

Some kind soul did it and shared on the FSM thread

Refer to post#1 https://forum.lowyat.net/topic/4089543

Not sure if it's programmed to work with stock code. But for FSM distributed funds confirm can update automatically

perhaps you can program it to also update stock codes or FSM singapore funds or even public mutual fund prices?
I'm hopeless with stuffs like that, can only follow instructions and use it

At the moment I think cannot, but if some other excel sifu would help to update the macros I'd be more than happy to use it

polarzbearz's Portfolio Summary with Pinky's IRR Calculation (and here for Polarzbearz's FSM-to-Spreadsheet Conversion Tool)

Boss, I thought you are a regular over there? you don't use this spreadsheet? It's especially good for people like you who buy from various channels to consolidate holdings into 1 spreadsheet and can do rebalancing easily

Accounting wise it's really easy. Don't even need to prepare balance sheet

The challenge is when the cost is too far off from the market value; then how to keep SC happy and still allow them to maintain as FP; the newer the fund is, the easier to be in this problematic situation, therefore i find ASB2 most interesting to watch; high dividend and fairly new