Of course. It's perfectly legit. Many of us here have account with them and park some money with them too.Rather than buying from banks/agents which will charge you 5.5% service charge, FSM charges 1.75% one time charge for equities and 0.2%p.a for bond fund.

eUT charges 2% for equities fund and 1% for bond funds. When there's promo, you can buy at 0% service charge.

How it works?
Instead of using agents who "supposely handle everything for you", you yourself make the decision what to buy and when to buy. Of course you can ask customer service for help at zero cost.

Actually they charge you 0.05% of your bond value per quarter. Since there's 4 quarters in a year, you will be charged 4x a year. The amount you pay will increase gradually as your value increases (even if you didn't topup)

This post has been edited by Ramjade: Jun 20 2017, 04:00 PM

You can park in Affin Hwang Select Bond fund if you can take the decrease in liquidity.

Judging from 10 years return, nope. But can lose money, yes (proof: Trump tantrum when he won the elction. All bond funds took a beating. But unlike the rest, affin hwang drop only slightly)

That's to iron out all the bugs. During beta phase, very little user server can handle. Once go public, there's a surge in users. Server tak boleh tahan so down lo.

FP = fixed price
You need to see they try. If they straight tell you tak boleh means lying to you. Because if got unit then only can open. No unit cannot open. Whether the teller want to try for you is another thing.

ASW2020, ASM, AS1M
MyAsnb

Yes.

Once you have account you can topup any of it.

Are you trying to topup or open account?

Announcement will be made beforehand. No announcement = business as usual.

Insider info already said max level they will drop to is 6%. So with good 1st quarter, maybe return will be 6.1%

No charges.
Yes you need to pay RM100 to open account. No money how to open account? They don't let you open account with RM0
Don't know what's the process now.

What's there to explain?
Simple version:
Fixed price asnb funds are basically FD on steroid/hybrid FD.
Put in money, after one year you will get min 6%

Complex explaination
ASNB is a fund house. The fixed price funds you are buying are unit trust which invest solely in Malaysia stocks priced at RM1/unit.

Whether you buy or sell, it's still RM1/unit. Every year, they give you min addtion of 6% units which you can keep to compound it (grow it) or withdraw for your expenses.

Whether the fund make profit of 10% or 20%, you are only entitled to min 6%. If the fund make a loss, you are also entitle to 6% (paid out via keeping the extra of the 10-20% earlier). This is also known as reserve.

Depend on what reit. Malaysian reit, don't think so. Singapore reit yes. Easily 7-8% (now no more 8%, more of the Singpaore reits are now in the 7% range due to drastic increase in price) a year tax free dividend + capital appreciation + appreciation of SGD vs RM.
Even HK banks (use to give in the mid rage of 5%)/AU bank stocks also can beat amanah saham.

If breakeven for Malaysians stocks maybe Maybank dividend/Public Bank appreciation in price

This post has been edited by Ramjade: Jul 12 2017, 11:28 AM

That may be true last time. But not anymore. Tell me can amanah saham's return keep up with today's increase in price of living? Last time before RM depreciated so badly against all currency yes, Can keep up. Today? No. Price increases faster than amanah saham returns.

Even with decent income, our purchasing power have actually gone down.

Let's give a scenario
5 years ago,
Earning RM9500, monthly essential expenses need RM1000

Now,
Earning RM10000, monthly essential expenses RM2000. (same item) That's what we are facing now. Even with increment in salary, higher cost due to depreciation of RM. Our earning power drop.

One do not need migrate. Just earning powerful foreign currency is enough to cushion the blow. USD/EUR/AUD/GBP/CAD/SGD ke semua boleh use. Have your pick. Cannot depend on amanah saham now. Last time can.

This post has been edited by Ramjade: Jul 12 2017, 09:12 PM

Ok. Let's be practical. This is a DIY for people with kids earning RM5-6k. Takkan cannot save RM1k/month? Even RM500/month also can. Even users of certain credit card can get RM600/year free of charge.
1. Have a emergency cash supply of say 2 years first. At RM1k/month = RM12k/year At RM500/month = RM6000

2. Get whole family insured with medical insurance (no need those that pay you while in hospital - get only those that cover hospital bill). This is because medical bill can wipe out one's savings unless want to stick with govt hosp. For me, I am pro govt hosp but let's not get into that. The decision is up to one to make.

3. Once have emergency cash supply, start accumulating warchest. At RM1k/month = RM12k/year At RM500/month = RM6000
Best place for emergency cash supply and war chest is amanah saham. Nothing is so liquid and give you 6% p.a
- At the same time, amanah saham is doing the heavy lifting for you of growing your money.

If don't want amanah saham, dump your money into Nestle. Give dividend + price never drop. If you look at the graph, it's practically a straight line.

4. Don't bother about applying those RM50k priority bank services as those are "nama sahaja". Don't get better forex rates. Besides by parking with the bank say FD at RM50k, one lose out to amanah saham and Nestle.

5. When salary increase/bonus datang, put it away. Do not upgrade lifestyle. Do not spend your bonus. By doing this, you DO NOT SUCCUMB to lifestyle inflation.

6. Now for the fun part. Since we are earning so little and have so little ammo, which country to invest in. Don't go pick US/EUR/UK. Why? The currency so big. Our currency so small. So what to do? Pick smaller country currency - SGD/AUD/HKD (HKD is basically only 2x our currency even though pegged to 7x USD. eg HKD10000 = ~RM5000)!!! RM still got hope.

7. What to invest? Unit trust can, dividend stocks can. ETF only for S&P500. Rest all not worth using ETF. Most of them can start with 1000 denominator (depending on what you buy)!. No need big amount. I personally invest in dividend stocks as they will be paying me in forei gn currency which I can use to pump it back when opportunity arises and further increase my dividends in the future.

8. Opening investment account need bank account/local address. Let me tell you Not necessary for country like SG/AU/HK. This you need to do research see which broker/investment firm let you do so without a local bank account/local address.

7. But so busy where got time? All application is done via normal mail/online. There's no need to fly here and there. The most is get documents verified by commsioner of oath.

8. How about exchange rate? Bank's exchange rate sucks. Yes. That's true. We have no choice but to suck up to them. Shop around for bank exchange rate. Some banks offer promo prices starting from RM5k onwards. Some RM20k onwards. You will earn back the spread eventually.

9. But SGD3k/AUD3k/HKD6k earn so little return. Everyone starts somewhere. If want quick, learn trading/put into JJPTR.

A very good eg.

NOTE: This is not my statement. Statement belongs to Dividend Warrior (his post can be seen in the link below)

Although this guy is a SGrean earning SGD, what he say can be apply to us. Save like mad, no holiday vacations overseas That's always a tradeoff. You can't have everything in life. YOu must sacrifice something to get something. Either one save like mad and enjoy the fruits later, or give in to lifestyle inflation and work harder later on.

This post has been edited by Ramjade: Jul 13 2017, 11:50 AM

Haha... I wish. It's taken from one forumer here in 2013. I only started in Jan this year.

I agree with Income tax. Minimize your income tax as much you can and pay lesser to govt and keep more for yourself using legal way (tax relief). Good eg is this blogger
http://singaporeanstocksinvestor.blogspot....ouble-your.html
http://singaporeanstocksinvestor.blogspot....d-donation.html

Dividends from stocks are not taxable to the individual. Neither are capital gain from unit trust/stocks (one good thing about being Malaysian)
Foreign source income are also not tax.

Well that's a trade off. You want to enjoy life, you need to fork out money. For me, I prefer that companies paid for my enjoyment via their dividends so I don't need to fork out a sen! That's delay gratification.

Take and maximise what's available as govt are giving us tax relief, they are earning less money. Like PRS. It's supposed to continue until 2021. After that, we don't know whether it wlll be continued or not.

Anyway, ini semua OT. We should be discussing how to maximize amanah saham.

This post has been edited by Ramjade: Jul 13 2017, 05:01 PM