I plan to open an account in eUnittrust, just to buy Phillip Master Money Market Fund.

1) If I use online application to open the account (https://www.eunittrust.com.my/acctopen/openaccount.asp) or submit the scanned application form via e-mail (https://www.eunittrust.com.my/pdf/eUTOpeningFIMMCRSform.pdf), the account opening is free of charge, right?

2) Even though I will buy only Phillip Master Money Market Fund, will I still be assigned a Unit Trust Consultant from Phillip Mutual? So, next time when I remit my fund to the account of Phillip Mutual Berhad (Maybank: 514011-379755), do I have to inform the Unit Trust Consultant, before I can buy Phillip Master Money Market Fund?

Thank you for the clarification.

This post has been edited by kart: Sep 5 2017, 10:46 AM

Thank you for your reply, puchongite and tonytyk.

A while ago, I submitted my application via online form (https://www.eunittrust.com.my/acctopen/openaccount.asp).



Do I still need to send a signed account opening form via e-mail to phillipmutual@poems.com.my, even though I submitted my application via online form? It is sort of double work.

But, I will definitely submit the signed Common Reporting Standard (CRS) Form via e-mail, since the CRS is not a part of the online form.

Thank you once again for the clarification.

This post has been edited by kart: Sep 5 2017, 11:14 PM

For Phillip Master Money Market Fund:

Let's say that I just made initial investment in this fund, by paying the money via FPX.

I am not sure, but I guess that it may take several working days to see my holding of this fund, in eUnitTrust (perhaps in "Settled Position").

For now, can I see the floating transaction for the initial investment in eUnitTrust?

For now, when I click "Outstanding Payment" or "Transaction History", there is no record of the floating transaction.

Thank you for your advice.

Got it. Thanks for the quick help, puchongite.

Previously, when we still had passbooks for our saving accounts, we could have given them the first page of passbook.

Nowadays, for saving accounts, e-Statement is given instead by the bank, and the passbooks are being discontinued. I am not comfortable giving my saving account e-Statement to Phillip Mutual or anyone else, since the e-Statement contains the transaction history, which I prefer not to disclose to others.

So, there is no issues, if we do not give our e-Statement to Phillip Mutual, right?

Are you referring to this statement?



I could be wrong, and this is just my opinion.

Assume that RM 10000 is added into Phillip Master Money Market Fund on 1st September 2018. As long as RM 10000 is not fully withdrawn before 1st October 2018 (next month), RM 5.00 for administration fees should not be incurred.

If you withdraw any amount less than RM 10000 within the same month (September 2018), RM 5.00 for administration fees should not be incurred.

This post has been edited by kart: Sep 13 2018, 09:58 PM

PMMMF Return
August 2020: 2.05%
September 2020: 1.9%
October 2020: 1.9 %

Between August till now, OPR did not reduce.

It is weird that PMMMF return reduces by 0.15% , without any changes to OPR.

Such money market fund should have funds in fixed deposit with longer tenure and higher interest (such as 1 year) (interest rate not affected by drop in OPR).

The higher interest helps to cushion the lower interest rate of funds in fixed deposit with shorter tenure (already affected by lower OPR).

Is Philip Mutual keeping more returns in itself for reserve, rather than distributing it to investors?

Yeah, these are just unverified speculation. But, it is saddening to know that PMMMF return is lower than the interest rate of conditional high interest savings accounts.

This post has been edited by kart: Nov 5 2020, 10:42 AM

Correct me, if I am wrong.

Following OPR cut by 0.25% in July 2020, PMMMF return for August 2020 was reduced by 0.25% , as compared to PMMMF return on July 2020.

If I am not mistaken, the drop in PMMMF return immediately follows the drop in OPR this year.

Edit: Corrected rate.

This post has been edited by kart: Nov 5 2020, 11:02 AM

Sigh, PMMMF return decreases from 1.9% to 1.82%, although there is no change in OPR.

This post has been edited by kart: Dec 2 2020, 04:50 PM

Thank you for your suggestion.

Comparison:

PMMMF, 1.82% per annum, same-day withdrawal if withdrawal is performed in the morning.

Versa, 2% per annum, T+1 withdrawal.
https://support.versa.com.my/hc/en-us/artic...y-bank-account-

StashAway Simple, 2.4% per annum, T+4 withdrawal.
https://www.stashaway.my/faq/900001294706-h...l-process-take/

It seems that for Versa, we need to sacrifice the liquidity, in order to get higher interest rate.

This post has been edited by kart: Dec 6 2020, 10:30 PM