since Eastspring Smallcap is soft closed now, if i were to switch out from this fund, can i switch in again some weeks/months later?

fyi...this is the reply I gets when I directed this LYN subject and post to them...

"Thanks for your email.

Kindly be informed that in the event of portfolio adjustment/rebalancing, the weighted return of performance of individual funds will not tie with the returns of the portfolio. This is due to the fact that the underlying funds reported in factsheets are reflective of positions of the portfolio at the end of the month. In general during portfolio adjustments, the positions of underlying funds change over the period of the month as funds are switched out first then subsequently new funds are switched in. For instance, new underlying funds’ 1-month return is not accurate attribution to portfolios’ 1-month return as these new funds may be included in the portfolio mid-month.

Below is the series of events that took place during Feb’s portfolio adjustment for your reference:

8th Feb –  switch sell Eastspring Investments Global Leaders MY Fund {“EIGL”);
14th Feb – switch buy United Global Quality Equity Fund – MYR Hedged (“UGQE”);
28th Feb – reporting date for month of Feb. Underlying funds reported in factsheets is reflective of positions at 28th Feb.
The model portfolio(excluding cost) return calculation includes the benefit gained during the rebalancing process as the  transaction of selling EIGL took place when it was at a relatively high value and buying of UGQE took place at a dip as markets were experiencing volatility due to sell-offs. In this particular change, we missed out on market downturn during selling. This benefit of rebalancing would not be captured when one performs a quick return attribution on an individual fund basis for a given time period due the different time periods of entry and exit of funds within the month.

We hope this clarifies. Thank you".

anyway....
looking at the variance of ROI results between them and us, and looking at the % of the funds that are involved in the change for the month..... I still have doubt

Here's a table of all their factsheets:



Most of the time, the reported 1M return ROI matches the calculation formula (I'm including the 0.1% differences as being the "same" since I don't have data from the actual start of the reporting period); however there are some big discrepancies that I cannot account for.

I capture my month end profit/loss %  from the managed port from May 2017 till Feb 2018....and I am sure many forummers here do..
but my profit/loss % of end Feb 2018 vs end Jan 2018 is > - 2.5%  variance
to me that is definitely more than the published 1month ROI value...that really puzzle me....
the variance of profit/loss % of my port is not the same as variance of ROI?
maybe it is?

I think it is not the same....
I think i1899 did mentioned something like that a few weeks back when a forummers mentioned that his port lost > 10%

have to really dig up that posts....I think should be from 8 Feb postings....

PRU14 or GE14 hasn't jump start the local market!

Could that be due to the effect of investment timing/top-ups and subscription and management fees?

In the absence of daily data and information about switch dates it is impossible to calculate actual ROI by using NAV values from the individual funds themselves. My calculation was based on the reported MOM growth of a RM10k portfolio which (I assume) is post-subscription fee and has no management fees deducted from it (should be a very small effect). Even using this calculation you can see there are discrepancies in the reported 1M ROI: the biggest of which is the September and October factsheets where the portfolio value has dropped BUT the reported ROI was a positive. So it is likely that the factsheets contain mistakes. Not the first time from FSM. 

fyi...this is the reply I gets when I directed this LYN subject and post to them...

"Thanks for your email.

Kindly be informed that in the event of portfolio adjustment/rebalancing, the weighted return of performance of individual funds will not tie with the returns of the portfolio. This is due to the fact that the underlying funds reported in factsheets are reflective of positions of the portfolio at the end of the month. In general during portfolio adjustments, the positions of underlying funds change over the period of the month as funds are switched out first then subsequently new funds are switched in. For instance, new underlying funds’ 1-month return is not accurate attribution to portfolios’ 1-month return as these new funds may be included in the portfolio mid-month.

Below is the series of events that took place during Feb’s portfolio adjustment for your reference:

8th Feb –  switch sell Eastspring Investments Global Leaders MY Fund {“EIGL”);
14th Feb – switch buy United Global Quality Equity Fund – MYR Hedged (“UGQE”);
28th Feb – reporting date for month of Feb. Underlying funds reported in factsheets is reflective of positions at 28th Feb.
The model portfolio(excluding cost) return calculation includes the benefit gained during the rebalancing process as the  transaction of selling EIGL took place when it was at a relatively high value and buying of UGQE took place at a dip as markets were experiencing volatility due to sell-offs. In this particular change, we missed out on market downturn during selling. This benefit of rebalancing would not be captured when one performs a quick return attribution on an individual fund basis for a given time period due the different time periods of entry and exit of funds within the month.

We hope this clarifies. Thank you".

anyway....
looking at the variance of ROI results between them and us, and looking at the % of the funds that are involved in the change for the month..... I still have doubt

I admit that their customer service team really nice and tried their best to give an explanation.
But, to me, their explanation doesnt clarify the doubts : "the variance of ROI results between them *-0.6% and the investors *-1.8%".

In fact,
from 31 Jan to 8 Feb, EIGL loss -4.79%.
from 14 Feb to 28 Feb, UGQE gain 1.77%.
So, for that portion of funds *15%?, still encounter loss of -3.10%=1- (1-.0479)*1.0177,
worse than the value reported in the factsheet, for UGQE from 31/01 to 28/02 -0.99%.

Therefore, their 1M ROI should be worse than -1.8%, not better.

Ok, made my mind : i wont touch their managed portfolio.

from the KGF fund 's semi annual reports....
https://www.fundsupermart.com.my/main/admin...ortsMYKNGGF.pdf

can see KGF did holds many stocks from The Components of the FTSE Bursa Malaysia KLCI Index
http://topforeignstocks.com/indices/the-co...sia-klci-index/

anyone have good exp with their CIS? like they really good in advice instead of following the SOP when recommend customer go into fund.
because most of them tend to bring you merry go round balik balik recommended fund. lol

Anyone else notice TAGT has been rising a lot recently? It has hit my ceiling price and I'm considering if the rise is sustainable or not. Which good bond I can intra-switch to later? Any recommendations?

Buying UT is also so troublesome...if drop we will worry, if rise also will worry...zzz

Hang Seng dropped quite a bit today, any predictions for tomorrow ?
Also I tried to switch to FSM by selling my eUT units, because I wanna buy Dragon fund at 0%
Turns out this offer does not extend to wholesale fund ....backfired !

idyllrain, i1899

here is the latest update....

"Pertaining to your previous query.

We wish to update you on our new findings.

We would like to sincerely apologise for the inaccuracy in calculation due to the mistake in recognition of dates. The on-going rebalancing and portfolio adjustment during the end-of month (reporting date) has caused this inaccuracy.

Please find below the calculations that we have worked out accounting for the rebalancing period.

(see attached table and note)


*Please take note that last row in above table is the inaccurate return in factsheet (2/2/18 – 28/2/18). This error occur due to previous round rebalancing was still on-going from 25 Jan 2018 to 2 Feb 2018. As such, system mistakenly capture 2 Feb data instead of 31 Jan data to calculate for overall portfolio return in Feb. (1 Feb 2018 is Federal Territory Day, holiday)

We will re-upload the factsheets soonest possible and rectify the inaccuracy. Thank you".

i1899...nice catch  :thumbsup: 

are they correct this time and "future time"?

where can I download the PRS statement for tax relief 2017?

IDS damn sad... No eye see.....

Did u know what is unlimited money sir.  Mean when u full port is 1000 u are able to top up more the. 1000 in once time.  Same theory as blackjack.. last rm10 next bet will be rm20. Third round is rm40

actually a lot dilemma can occur in UT.

some people say cut lost. some people invest more. if market perform worst. the cut lost people is at winning part. and the vca people at lost. but if the market bounce back, the opposite happen.

and there are also people saying invest 3 to years across the horizon... there will be some fund perform bad or so so even lower than fd across 3 to 5 years..... so how. is it long term investing really making out? easier example will be IDS or Ponzi 1. even with mandate chage also very doubtly will rise back. take IDS as example. people hoo haa say when dip is time to top up provided you have confidence in the fund. looks like the dip never stop...

back to reality. you still need to monitor your fund time to time. interest hike. reits also fall. how much will fall? no one know.
currency instability also affect. see Esther and RHB EMB also know. 1 year return -1.8 lol. my saving accont also perform better......

to cut lose or chipped in.... that's a million dollar question...

Thanks for the advice and motivation. Can i know how do you calculate the valuation (PER)?

Can share how you find the PER for REIT market too?

Per mind to told me what is per

Nice one! Same channel with me. 
Exactly my point... Because when every dip, many here will just say "another great chance to in" but, if we really buta buta trust the wrong fund then how? Isn't it.. But reality is that we cant really predict what will happen in the coming weeks.

And to look further, IDS is really special case, it shoot up too fast, way too fast. And with speculation and others, all people all in to this so called goose that lays golden eggs... Then... shit happen.

Look at Tech stock now... TA Global Tech hit really hard. And no one see that coming....

But still, we need to learn it in a hard way anyway.

IMHO, 2018 market = FI market. Now already into Q2, still not stable... Aduiii Very miss 2017 haha..

Its good to bring up this issue. And its a new milestone for a newbie like me.
Happy investing!