They start distribution process today

Yeah, quite normal for MMF, since dividends are actually paid out of the unit NAV (it's same for dividend paying stocks, stock price will drop when dividends paid out).

Generally MMF will perform better than average fixed deposit rates, so if you look at fixed deposits on offer in the market it's a rough benchmark for what the projected % p.a. rate will be.

For both Versa and SA Simple they apparently get rebates from their respective fund houses so they can give a higher projected rate than the fund's projected performance.

This post has been edited by DragonReine: Mar 24 2021, 11:50 AM

MMF and FD's both affected by raised interest rates so they'll likely move up at similar pace.

Versa and StashAway Simple both give higher projected returns than current non-promotional-rate FD, at least for the moment, because both have rebates from their respective fund houses that they pass on down to users.

This post has been edited by DragonReine: Mar 27 2021, 08:25 PM

Promo FDs usually only for certain tenure and require a fairly big sum of investment of at least several thousand "fresh funds" (aka money that wasn't initially deposited with that bank). Some only give that promo rate if you buy investment/insurance products which means you need even bigger starting capital. Even regular FD certificate needs at least RM1k usually. Versa/Simple etc. are designed for people who

1) don't have much capital (since minimum deposit is RM1 haha)
2) want liquidity and don't want to get locked in FD tenures

So target audience is different.

Both have their uses but obviously if you have the financial capability and don't mind that lock in period, please invest in promo FDs 🤣

Even the lowest requirement one on market (OCBC 360) needs minimum RM500 spend + RM500 deposit + 3 bills to pay. If low income earner/gig worker/student/those who rely on allowance like stay at home spouses it's difficult to hit those requirements. Most other HYCASA requires thousand ringgit spending and deposits. Or if like UOB Stash needs very high balance (several thousand).

IMO there's nothing wrong with ths GO+ feature per se, it's nice to earn a few sen with TnG balance especially heavy user.

But IMO it's also mostly something to combat the people who complain about how TnG has no cash out and any money put in is wasted 🤣 it's a way to one-up the other major ewallet competitors who have similar problems and to compete against wider DuitNow implementation. So it's not an ideal investment vehicle, but it does it's job at helping retain existing TnG users la

Normal. For deposits they take around 2 to 3 biz days to complete from receiving the FPX deposit to invest in MMF. 28/3 Sunday non biz day, so should finish later today once money is invested into MMF and they'll reflect in Versa.

If not then better call customer service and check

This post has been edited by DragonReine: Mar 31 2021, 10:47 AM

IMO Versa best because fastest relative to gains (StashAway slow withdrawal at least 3 biz days to arrive back in bank account, TnG GO+ fast transaction but gains bad)

You can invest in MMFs through conventional investment platforms like Public Mutual, Affin Hwang, HLAM, FSMOne etc. Just that compared to the 3 you listed, starting capital + minimum deposit is quite high. The three options you listed because they essentially "pool" users money together and invest on behalf, you can deposit as low as RM1.

Also I recall FSMOne go their own MMF called Cash Solutions, but I never used so I'm not familiar.

This post has been edited by DragonReine: Apr 1 2021, 02:40 PM

"projected" isn't really useful indicator of how much funds will return

MMFs fluctuates like any other unit trust, just that fluctuation isn't very high.

If you want to guess at MMF returns, you need to study the past distribution, YTD, 3-months and 1 year returns.

Versa's partner fund HWAEDEP at the moment is leading ahead of StashAway Simple's PRUISIN very slightly.

Don't read Versa and StashAway's projected rates. They're predictions that look nice to attract customers. The real tracking is following the underlying funds HWAEDEP and PRUISIN, you can follow on sites like MorningStar. Study the 1M, 3M, YTD and 1Y returns, look at the portfolio, and you can make a more educated guess on the actual returns.

PRUISIN (StashAway Simple): https://my.morningstar.com/my/report/fund/p...px?t=0P0000GEZP

HWAEDEP (Versa):
https://my.morningstar.com/my/report/fund/p...px?t=0P00008ME1

PRUISIN's heavier weight in deposits is most likely going to bite the fund's earnings unless low interest environment improves abruptly in later half of the year

I'm not sure GO+ is linked to which MMF, Principal e-Cash Fund got Class A and Class B, so can't get comprehensive data.

To think that in those days for those who don't like conditional high yield accounts the best we could do was FD laddering trick to get this level of % earnings without sacrificing liquidity too much even then it's a very imperfect system because minimum usually need RM1k++

This post has been edited by DragonReine: Apr 2 2021, 05:21 PM

Update almost 2 months later:

Initially started at RM2k first with Versa and RM2000.25 in SASimple

Been depositing same amount on same day (every Monday morning) on both

currently Versa has managed to go past SASimple and has higher balance now

Will continue my experiment for next few months to see if the gap will widen between Versa and Simple, or if there won't be much difference in long run

This promo need to apply thru RinggitPlus platform which uses an automated WhatsApp account Not direct download and apply through apps store.

🤔?? But the article itself more or less spell out the T&Cs tho? Including the minimum deposit needed to qualify for prizes.

Ah true that 😅 I feel like the event a bit disorganized lol

CMF2 a teeny bit better than Simple and GO+ but I don't think can beat Versa's HWAEDEP base I might be wrong, I haven't researched thoroughly into RHB CMF2, only know that it's used for FSMOne users to park extra cash for DCA investing

This post has been edited by DragonReine: Apr 8 2021, 08:06 PM

After fees the projected rate 2021 is something like 2.15 to 2.2%, based on my speculation and the 1M/3M/YTD performance. 2.45% is 2020's final rate after fees

and yep, Versa takes no upfront cost or fees

This post has been edited by DragonReine: Apr 9 2021, 08:33 AM

FSM does this too. It's part of country's measures to prevent money laundering and opening of mule accounts. Registered fintech and financial entities all have to do this.