I now use versa only. Last return on the app mentiond fund give 2.46%p.a On website said 2.4%. Very decent.

Stashaway is slow.
Versa is faster in withdrawal.
Not sure about liquidity for versa. Going to test soon. It's basically T+1 day.

Account opening is very easy. All from app.

Make sure you check your account after 6pm next business day

Next weekend another payout coming soon

Public Mutual Money Market fund?

PUBLIC e-ENHANCED MONEY MARKET
PUBLIC e-CASH DEPOSIT

This post has been edited by eric.tangps: Feb 20 2021, 11:28 PM

I checked out StashAway thread, opened Account,i used desktop website.
dumped RM50k ,max from Jompay,
payout monthly, calculated daily not bad

T+3D, means on Thursday 25.2.21 i can see my deposit online?

I noticed StashAway used Citibank, so for faster time to receive the withdrawal money which bank (other than Citibank)
is better, any one?

(My experience with eUT PMMF, Maybank is the best, consistently received money by 5.00pm same day)



Versa payout weekly and Liquidity T+1 is better than StashAway, return same?

Now gonna check out Versa.

Anything about versa is they give overnight rates. Which means when your money is stuck in limbo (between fpx and versa) you still get paid.

No difference with any bank when withdrawal time because all are using FOX to transfer the money Fromm the trustee in Citibank

Stashaway simple calculation payout monthly while Versa payout every fortnight

Versa advantages only when deposit during weekend after Friday 12pm subjected extra overnight interest coupled next business day 6pm withdrawal time which is good if you need quick liquidity

Both are currently earning 0.2% per month waiting to see whether Versa can beat last year indicative of 2.46% which most likely will subjected to current OPR

I don't really understand how does payout work, I assume that since we are earning interest daily (and it seems to reflect on the lifetime gains), but those gains are not used to buy units until "payout" day? But then payout would sound a little misleading.

Are we suppose to get a bonus on payout day or something?

Basically payout/distribution is a cash reward of sorts that the fund gives out to investors based on the profit generated from the fund.

When you see the NAV of your units climb (gaining interest), that's actually the potential dividends you're earning slowly increasing over time. Which is why when dividends are paid out, NAV drops (and your versa balance might become negative or seemingly make a loss during distribution day).

For people who invest directly with mutual fund companies typically you can decide to get this distribution credited into your linked bank account, or the fund will use it to buy more units at no sales charge. In Versa this distribution gets automatically reinvested to buy more units.

This rise and dip in NAV is also a reason to actually time when you put additional money into money market funds as distribution is paid out on a regular basis, you'd ideally want to put in additional investment soon after distribution (when NAV is lower) and avoid investing the days just before estimated distribution date (NAV will be higher)

This post has been edited by DragonReine: Feb 21 2021, 06:05 AM

Guys. Im invested in UT, PRS, share market. But i dont get to understand what is money market? Any layman's term?

FD without lock in period and return isn't guaranteed.

Any service charge?
What's the return?
How fast is he liquidaty?

Money money fund think of it as high interest savings account.
They invest in FD, govt bonds and short term bonds 1-3 months to give you higher interest than normal FD (around promo FD rates without the lockup and penalty like FD)

Unlike saving account where you can get instant withdrawal with mmf,you need to wait 1-3days. Depending on funds.

This post has been edited by Ramjade: Feb 21 2021, 09:13 AM

Thanks for the info, so Versa is like SA return 2.4% with better liquidity and daily interest

where can i read about Versa in here, cant find the dedicated thread.

I find it safer to use link provided in here rather than search in google .

Money market sure get alot more attention now FD so low

This post has been edited by ironman16: Feb 21 2021, 10:16 AM

Addition overnight interest when money is in limbo.

Here you go.
https://versa.com.my/
Upon signing up you will get email from both versa and affin hwang.

I have always use mmf VS FD cause I like the liquidity that MMF give.

Wow.. as I am not well-versed in this NAV, so I must ask..do we usually need to time our investment then, in this case, every two weeks only after payout? Will it make any big difference?

FD is only because it more accessible compared to MMF but it will be changing now due to more platforms are encouraging more MMF onboard

Because the amount is so small there is no need to time it a simple it doesn’t make any difference

But always make on Versa to deposit on every long weekend and the weekend that is not being offered payout ie 1st and 3rd weekend to enjoy extra overnight deposit

How much extra are we talking about? What is the rate in per annum term?

IMO if your keeping long term, difference is minimal I personally just deposit the day after they declare dividends.

It's only potential loss incurring if you keep less than a month haha

So you keep for less than a month?

Keep till about dividend to declare, cash out and put back after dividend is announced?

With this strategy can maximize the return the extra overnight deposit?

Extra of RM0.01 per RM100 or RM0.08 per RM500 or RM0.15 per RM1000 or RM1.40 per RM10000

Not much per annum because the overnight weekend returns only kicks in when you deposit every time on the weekend

The purpose of the overnight deposit is to compensate your deposit earnings which are earning interest but indifferent way as compared to normal holdings due to slower execution time