Not holding a pure China fund.
The only China fund I have is mixed with India.

They promoted but with some added notes....

"Currently, we are still maintaining an overweight stance in equities vis-à-vis bonds as we still see further potential upside from on possible trade resolution.
Within equities, we are keeping a positive view on Asian equities, especially Chinese equities because of its attractive valuation and long-term growth story.

Regardless of the market condition out there, we continue to advocate investors to practice diversification when it comes to managing their investment portfolios.
In the late stage of an economic cycle, there is no short of a list for investors to worry about, but that doesn’t stop one from staying invested.

The key to do so is to have a balanced mix of equities and bonds which will help an investor to navigate through both good times and challenging times."

https://www.fundsupermart.com.my/fsmone/art...rns-Over-1Q2019

I take is......have a diversified portfolios, invest moderately and be true to ones' own risk appetite and with money that are not going to be touched for a few years........

It looks like Malaysian market has been missing out from the current world equity rally since January 2019.

[attachmentid=10228001][attachmentid=10228004]

SA will supplement you for the +/-1%

from the below article....
"However, the impact on each bond fund differs by the underlying exposure. For funds that have higher holdings of Malaysian Government Securities, such as RHB Bond Fund (26.2%* of NAV) and Eastspring Investments Bond Fund (16.23%* of NAV) have witnessed a greater magnitude of correction compared to those that have lesser exposure like KAF Bond Fund (0.89%* of NAV)."

How many % of MGS is Nomura I income is holding now?

Ancient-XinG-, do that note of this latest development....for I think you are following onto this fund too....(I think you had mentioned previously....it holds high % of MGS thus maybe it is the reason for its good returns last year....)

I was last month, planning to shift a chuck to Nomura next month......now seems like "hesitated abit".

You have so much confidence in EPF ?

So a quick look on the factsheets of  Affin SBF, Eastspring IBF , Nomura i Income and Asnita, only Eastpring has MGS in its top holdings. ASBF is majority foreign corp, Asnita local corp and Nomura local corp sukuk . Those worried can stay clear of Eastpring Investment Bond Fund.

Are you planning to sell any of your FI holdings ?

Ah thats a good idea for me to consider, so i am guessing you are putting your FI allocation from FSM to a lower risk index SA portfolio ?

Do you mind me asking what risk index and how are your returns so far over there if thats the case

Hi. Thanks for the reply. Unfortunately, I have logged in but still haven't come across any buttons which allow me to edit post. There are 2 buttons "Quote" and "Reply" on the lower right corner of each post though.
Thanks for sharing the Star's article. Personally, I adopt a rather holistic view when deciding on which fund I prefer. I will read the product highlight sheets, the annual/interim report and lastly, the prospectus. A few key indicators:

1. PTR: Too high a PTR can mean most of your money go to market makers and brokers. Should be either some where around 20% (for very low trading), 40% (moderate trading) and at most 80%. Anything above 100% means very frequent trading. This means your total sell or purchase (whichever is lower) value is equivalent to your net asset. For the case of Affin Hwang fund house, most funds', if not all, PTR is over 1 time (100%) (somewhere around 1.2-1.5 times).

2. Management fee: Around 1.5% of NAV (For those who are interested, ASNB FP funds all have management fee of about 0.5-0.6% only!)

2. Total expense ratio: Should be less than 2% of NAV (1.5% is the one you will most likely come across. ASNB FP fund will be around 1.1% only.)

You could have earned say, 8% (annualized return rate) but ended up 6% in the end with all those "hidden charges". Yes, they publish a 6% return on FSM and on their product highlight sheets, but there maybe other funds which can give you a 6% return with lower expense ratio and PTR. Why let the brokers and market makers earn your commissions?

Balanced/Mixed Asset funds should give you an 8% return over the long run. If one aims for 6% I think she should go for ASNB FP. Bond funds on FSM have higher total expense ratio and management fee. No point giving them you hard-earned money. Furthermore, ASNB is more disciplined and cautious in its investment approach.

For securities selection, I opt for high investment grade bonds with a mix of blue chip stocks. Looking at the current bearish domestic equity market, I will leave it to ASNB's fund managers to do their job and move my money to international equity markets. Malaysia market looks bleak in the future. Hence, I opt for Eastspring Investments Asia Select Income Fund.

As for those who prefer double digit return, REIT funds are good choices as they have good risk-return ratio and higher Sharpe ratio and Jenson's Alpha. You earn 15-18% while volatility is just 8-9%. I will look at Morningstar's report and Lipper's rating to have a good idea of how funds compare with their peers.

Just an advice, one should never follow the "hottest mutual fund" or "recommended fund" blindly. I will give an example based on my own analysis.

RHB Asian Income fund is a recommended fund by FSM and it is a feeder fund for Schroder's Asian Income Fund. You can expect an 8% return over time, but looking at the annual report of Schroder's Asian Income Fund, you can see that the target fund only earns 5.5-6.7% over time. This suggests that the 8% return is amplified by currency exchange effect (MYR depreciated against SGD for the past few years) and not due to the fund's own performance. Moreover, about 18% of the fund's bonds are below BBB+. Simply put, they are junk bonds. These are high yielding bonds that have high risk of default.

Lipper's rating clearly reflect this added risk. RHB Asian Income Fund's preservation rating for last month was 4/5 (1 is the best, 5 is the worst). This fund is at risk of losing a substantial amount of its capital if the atmosphere turns sour. Contrast this with Eastspring Investments Asia Select Income Fund. About 60% of the fund are invested in high grade investment Malaysian bonds. (The rest are invested in China and India through the Dragon Peacock Fund in Singapore.) So, you have less currency exchange risk and at the same time owns high quality bonds and enjoy capital appreciation opportunities from Asia's 2 fast-growing economies.

I would love to invest in the US but I prefer index fund. It is very hard to outperform the US market. Vanguard 500 Index fund is a good candidate but no related feeder funds are offered at FSM.

Something to note for the bond investors. FSM rate high yield bonds as 4-5 out of 10 which I disagree with. High yield, low grade bonds are just as risky as equities and they should carry much higher ratings (perhaps 8 out of 10).

In short, ROI is one thing, but I personally reckon that there is more to mutual funds than just return alone. One should read the fund's reports often. Remember the Enron scandal back in 2001? Had the fund managers read and analyze the reports, they would had escaped the catastrophe. See this for example of illegal mutual fund practice. Frequent trading (high PTR is the indicator) can be alarms for us investors.

wow, a good example of fund houses can change their fund's holding and allocation to reflect/anticipate coming environment.....
(from 60% in MGS to 94% in Corp sukuk in 2 months)
thus what ever predetermined reasons for selection and criteria for buying of that unit trust fund earlier.....all had been distorted.....for by the time those published data reached us......the actual holdings and allocation may had already changed by a large margin.

Anybody still putting money into TA Global tech?

My respond above was in respond to you stating KAF Bond as an alternative to Anita Bond.

What I wanted to convey was sometimes we look at the pure academic numbers and then decide, ah! This is the product I want.

When you click on the BUY icon, then a message pops up, saying, " Min invest is RM 100K ". Can a normal avergae Joe buy? These type of real life limitation, text book don't teach one. You have to be in the market to be in the know. It is called University de'Societe.

Want another example?

Here is another one. RHB Islamic Bond gives a 10 year average return of 6.XX% p.a. Sounds wonderful right? You put in your money and when there is a bull run, you want to sell and put into equities fund, you click on the SELL icon, you get hit with an exit fee of 1% pulak 

Again, does the textbook teach you all these? Does your investment books teaches you all these?
Have you come across any investment books or any Uni Professor telling you all the above donkey tales? The above practical considerations is what that concern retail investors.
And no, I was not even thinking about those high and mighty mkt hypothesis vs TA mumbo-jumbo.

Xuzen

Don't have to look that far also. Those who bought the S&P 500 and will have recorded a handsome 17% gain. HSI also up 15% . Got a thread in the stock exchange section talking about selling all stocks in time for a recession . Was quite active till the recovery lol

Facebook and Microsoft reported well. I think will hit new record highs today ! I think alot depends on AMZN to see whether its sustainable then next month people will look forward for the conclusion of the trade war (fingers crossed)

After so many conversations, nobody is telling what fixed income funds are they holding onto now.

Yeah it does to see what is the methodologies of everyone in terms of fixed income funds now that we face an future that our bond funds are affected.

As for the discussions up above I am very suspicious of new guys coming in beating their chest and sprouting their stuff when there's a motive behind it.

Now I recall a guy who keeps harping on IDS saying oh it's the best fund to cash in. Do it now. So when it went up, he disappeared and the fund tanked. I know one must take things here with a pinch of salt but guys like that especially in stock markets should be crucified

Big fan of Nomura Income Fund. No sales charge, no redemption fee. I have deposited for past 2 months already earning 0.7% months, annualised is around 7%. If you look at MorningStar closely, this fund gave u 8% return in a year before. I treat this like an alternative FD and no penalty should I require to take it out for own use.