I thought the recent is amazing and since everybody is talking about payout in here.
Perhaps Versa or Affin is distributing red packets via the app.

This post has been edited by GrumpyNooby: Feb 16 2021, 11:30 AM

Nah it's just comment that Versa really does payout dividends in middle of month + end of month as they promised, instead of just monthly compared to SA Simple. Simple usually get dividends one business day after PRUISIN declare dividends which is 7th to 10th of the month.

I thought is the other way around. Affin was giving 2.46 and Eastspring was giving 1.8x%

I thought so too, but Morningstar and Bloomberg both say otherwise:

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

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

unless I mistake funds name then I apologise in advance

based on my testing stashaway simple is around 1.7 - 1.8% on dividend that i received on monthly. switching from stashaway to simple to versa
+ overnight interest when deposit
+ payout every 2 week

need to test apple to apple. currently still transfer bit by bit

my most recent deposit timeline of Versa since it's so near dividend payout date:

09/2 (morning) : Deposit received by Versa thru FPX transfer.
09/2 (evening) : Versa booked units in HWAEDEP at NAV=1.1723, Overnight interest calculated and added in.
11/2 (morning): Dividend paid out and reinvested to get more units at approx NAV=1.1679
12/2 (morning): Versa successfully processed all the above and reflected the total number of new units in Versa.

All in all, quite fast.

This post has been edited by DragonReine: Feb 16 2021, 04:13 PM

Doesn't Versa's deposit process only take 1-2 business days?

From my experience with both...

Versa and Simple record their timeline a bit differently. Effectively they actually have the same timeframe from receiving funds to investing in the MMF (T+3) but Versa is more transparent.

Versa:
They only announce "complete" when the funds is invested into HWAEDEP and they show the complete amount with the units bought in Versa balance.

StashAway Simple:
They announce "complete" when they received funds and it's reflected in Simple balance under Overview tab of Simple, recorded as "Deposit" on that day of receipt.
However if you check the Assets tab, you'll see that it's not invested in PRUISIN yet, with the assets split into % of funds in PRUISIN and in "Cash" form. It'll only reach 100% in PRUISIN after a couple of days when they've completed the buy order in PRUISIN. This is not announced or shown in transactions for SA Simple unless you actively look into the Assets tab of SA Simple.

I see, what about SA Simple's withdrawal process in comparison to Versa?

Simple slower, T+3 to T+5. Versa is T+1.

Versa app update for Android

//v0.0.26 Release Notes:
- Update App User Interface
- Reduce minimum deposit

reduce to minimum deposit of how much?

Rm1

wa, only stashaway simple can fight liao....

RM 1 at nowadays barely can buy something useful and tangible.

😂

Disadvantages of Money Market Funds
Now let's talk about the disadvantages of having your funds in a money market account.


Purchasing Power Can Suffer
If an investor is generating a 3% return in their money market account, but inflation is humming along at 4%, the investor is essentially losing purchasing power each year.

Expenses Can Take a Toll
When investors are earning 2% or 3% in a money market account, even small annual fees can eat up a substantial chunk of the profit. This may make it even more difficult for money market investors to keep pace with inflation. Depending on the account or fund, fees can vary in their negative impact on returns. If, for example, an individual maintains $5,000 in a money market account that yields 3% annually, and the individual is charged $30 in fees, the total return can be impacted quite dramatically.

$5,000 x 3% = $150 total yield
$150 - $30 in fees = $120 profit
The $30 in fees represents 20% of the total yield, a large deduction that considerably reduces the final profit. The above amount also does not factor in any tax liabilities that may be generated if the transaction were to take place outside of a retirement account.

Hi GrumpyNooby,

i remember you used to show us latest Phillip Master Money Market monthly return,
any idea what is the latest rate now and where to get them? Thanks




Borrow money to invest...........

Forget about Phillip already. I dump it for Stashaway simple then Versa.

If you will want Phillip can get from official site. Scroll to the bottom.
It's 1.77%p.a
https://www.eunittrust.com.my/

Thanks Ramjade,

money for short term parking only.
Stashaway is good for that? liquidity like PMMF?
Is opening account easy? Return pa ?%