Being the reader of forum for so many years. But, some posts here force me to register an account to write something.

http://www.morningstar.co.za/za/news/96498...sset-value.aspx

NAV = Total Assest / Units in Circulation

Stocks have a fixed number of shares available. To change its number of shares, a company can either issue new shares or buy back its own shares in the market. By contrast, unit trusts generally have an unlimited number of units, and the number changes on a daily basis, depending on how many units investors buy and sell that day.

The key is the units in circulation of an unit trust changes daily. When an investor buy, units increase and total asset increase; if other parameters unchanged (asset changes, expenses are 0), then NAV would be same. When an investor sell his units, unit in circulation reduce and total asset also decrease; if other parameters remain, NAV wont change.

This post has been edited by i1899: Jul 13 2017, 12:11 PM

According to page 45 of latest annual report of Inter-pac, the largest investor is not FSM.

For Inter-pac Dana Safi, only 1 investor holds 83.33% of the fund on 31/03/2017. The unit held are 3,484,321, shown on page 7.

On page 45, section 10. Units held by the Manager and related parties , shows that it is Inter-Pacific Capital Sdn Bhd that holds 3,484,321 units. Therefore, the largest holder of this fund is Inter-pac itself.

FI won't help if you still hold 70-80% equity funds during big recession when equity fund might drop up to 60% from the peak.
Switching, cut loss, are very important in this scenario.

It is a Global Bond Fund, which will invest in Global Bond at least BBB grade. Clear?

Asset Allocation
• 70% - 99.5% of the Fund’s NAV in fixed income instruments
• 0.5% - 30% of the Fund’s NAV in Liquid Assets

Investment Strategy
The Fund’s investment universe will be in foreign and/or local fixed income
instruments in countries of Eligible Markets where the regulatory authority
is an ordinary or associate member of the International Organization of
Securities Commissions (IOSCO). The Fund will invest in bonds which carry
a minimum rating of BBB- by Standard & Poor’s Financial Services LLC (S&P)
or equivalent by Moody’s Investors Service (Moody’s), Fitch Ratings Inc.
(Fitch) or any other rating agencies. Local bonds rated by RAM Rating
Services Berhad (RAM) will carry a minimum rating of BBB or equivalent by
Malaysian Rating Corporation Berhad (MARC) or any other rating agencies.

PRS inter house switching is called PRS Provider Transfer. I just did it in June, from Affin Hwang PRS Moderate to CIMB PRS.

Just fill in the form at link below, send it with a copy of IC to Fundsupermart.
https://www.fundsupermart.com.my/main/buyse...ransferForm.pdf

The total cost is RM25 + GST + Postage fee. If the amount is small, don't do it.
Please note that, it will take much much longer time compared with normal inter switching, around 4 weeks to reflect the transaction in FSM, around 3 weeks to reflects in www.prsmember.my.

Did you top up (or sell ) your own portfolio since end of May.
Hmm... If you top up your own portfolio, it will reduce ROI.
I think, better use IRR for better comparison.

U r not alone.

I cut KGF on this Monday with ROI ~12%, bought back it since Feb 17.

I invested slowly Inter Dana safi since end of March , did my last entry yesterday to make it 12% of my portfolio, so far ROI >15%.
From my observation, its volatility is not very high la, not higher than india/ china fund.

The numbers look great but a bit weird...

if u concern on concentration risk for 52% port in Spore REIT by Manulife REIT. y still ok with 80% on US tech by Ta global tech?

80% * 30% = 24% in US tech, where US tech PE are generally >30 now. The risk is very high base on valuation....
while, 5.2% in Spore REIT, where PE of Spore REIT are generally at 12.x, still ok worh...

To me, choose a fund solely base on historical data is a dangerous möve. The performance, the volatility, RRR etc etc are all history.

Invest base on current PER of invested market, or valuation may be is better approach.

Everyone has their own recipe. Just for sharing.

Since early of this year, I started to consider PER of different market in my annual asset allocation. Use PER to select the market, and rear view mirror method (performance + downside risk) to select funds within the same market. Anyway, i still new with it. Just for sharing.

Buy market with relative low PE (compare with Fair PE/ historical average PE aka big difference in (current PE - fair PE), not compare PE between different market/sector), is buying a market with a bigger room of increment. Buying market with relative high PE is buying a market with limited room of increase but bigger room for correction/ back to its average value.

Base on my experience, invest base on PE is much much faster than rear view window method.

For example, I entered back KGF in Jan/Feb when the PE of KLCI was 13, and exited last Monday when PE was 16.67 (plus some other reason), fair PE for msia is 16.0. But, if used rear view method, i might enter it in June, when the excellent half year data is out, and still stay with it now.

Note: China PE is low now, but most of greater china fund in FSM invest in China companies list in US (alibaba PER is 68 as i last checked) HK , Taiwan companies. Therefore, you may refer to CIMB GC's master fund Schroder ISF GC for its latest PER of holding. As i last checked, it is 21.04, still not at dangerous level i think.

You can stack & compare the performance using bloomberg as well.



Manulife Dragon Growth is < 1 yr old in FSM, but it is a feeder fund to Manulife Global Fund - Dragon Growth Fund (MNRIHKI:LX), which has >5 yr history. It haven't climbed to its 2015 peak yoi.

This post has been edited by i1899: Aug 2 2017, 12:02 PM

Charts in Bloomberg is not adjusted for distribution eventm but is adjusted for unit split.

Jumping to the fastest running horse aka Best Perform Fund ends up with.

1. horse too tired n going to take a long rest aka Fund flats
2. horse continues running but not the fastest anymore.
3. horse continues running n still be the fastest.
4. The field is burnt n all the horse stop running.
etc
etc

This post has been edited by i1899: Aug 4 2017, 10:47 AM

Y crazy imagination?
They are not imagination. Those are the real scenarios those are happening, happened and will happen on many "investors".

1. horse too tired n going to take a long rest aka Fund non perform after u join
2. horse continues running but not the fastest anymore.
3. horse continues running n still be the fastest.
4. The field is burnt n all the horse stop running. The market collapse, all fund invest in the same market also collapse

The problem here is not jumping horse or changing fund, the problem is what the criteria u used in choosing ur horse. If the method is wrong, you will continue in jumping horse again n again, without stop. if you method is correct, u wont jumping horse frequently.

Meaning u r jobless now? If u were graduated, go to find a decent job first lah.

Even u r great, taking 20% pa from ur investment with a capital of SGD 10K, Ur yearly passive income is SGD 2K only.
While, u can get active income SGD3K/ month or SGD36K per year easily.

Be realistic la. Don't confuse on ur priority now.

Great that u know what u need to do, and counted and planned everything in advance. But, I hope that u execute what u have planned asap.
The first step is go find a decent job instead of pay too much attention on ur investment.

Some points for u,
1. Saving is good, but u need to have consistent income at the first place. Else wise, what to save? Save the leftover of ur expenses?
2. Investment is good, return n dividend is good. But with a capital of <100K and dividend yield 7%, the profit is only RM7K per year. Can u survive with 7K per year?

That's y, for a young person like u, get a good work, and accumulating ur wealth is more important than look at/time market everyday.

my 2 cents only...

I don't think he is waiting for housemanship. I remember he got mentioned his stpm result in LYN . As I know, not possible to enroll medical course with that kind of result.

Sorry, OT.

Thanks for sharing, n good luck to u and all ur followers.

I already dropped KGF and IDS with profit 10% and 15% in less than 5 month. Not plan to buy it back before election, as i found no reason to do it at this moment.

3 REITs related funds in Amfunds, they are:

AmAsia Pacific REITs MYR class - invest 70-98% in in REITs, 2-30% in liquid asset.
AmAsia Pacific REITs plus - invest 70-98% in REITs, 1-29% in real estate equities and liquid asset.

PRS version is feed into AmAsia Pacific REITs MYR class.