First time deposit into Versa this morning, will see how fast it reflects for first time deposit.

Versa is an agent to help invest in money market fund, for MMF it's not like UT where they track unit price daily

The dividends also different from UT lol, I think you misunderstanding thinking that MMF works like UT.

I thought they're separate, my bad.

But my experience generally for 3rd party investment platforms they don't track MMF unit NAV that closely, at least on app.

If really want to see NAV I usually go directly to the fund page.

Received payout for Versa + overnight interest.

Not bad since only started a few days before I get dividends. Most likely migrate SA Simple funds to Versa after a few months.

Tried Allocate Plus but the app so buggy + so many problems just during signing in that I gave up Maybe after they fix the bugs and improve the UI, but the messy user experience is not worth it for me, at least for now.

Too early to comment on returns my reason for migration is the faster withdrawal and the fortnightly dividends are more attractive to me. I prefer the liquidity of Versa over SASimple, because I'm using MMF as an additional place to park emergency savings.

Since I don't DCA from SASimple, there's no particular reason to keep it in Simple.

Edit to add: based on reading Bloomberg analysis PRUISIN (SA Simple) performed better than HWAEDEP (Versa) in YTD, 1y, 3y, and 5y return, so take that as you will.

This post has been edited by DragonReine: Feb 16 2021, 11:15 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 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

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

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.

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

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

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

No laaaa, I meant that theoretically if you deposit it just before dividends declare, then withdraw only a few days later, you MIGHT make a loss. In practice it's incredibly difficult to actually get -ve, will only happen if the MMF is underperforming for whatever reason. Like a recent deposit on Versa of mine still gets net +ve gains even though I deposit one day before dividend declare.

Because their interest calculate daily if you withdraw and deposit like that you potentially lose the interest you could get during those prossessing days. Only Versa to my knowledge calculates those processing days into the dividend they pay you LOL.

If want to be that kind of maximise interest then better to use conditional high yield savings account LOL, less hassle and instant processing time

This post has been edited by DragonReine: Feb 21 2021, 07:00 PM

This is a misunderstanding of how Versa and SA record their deposit. In practice their investing into MMF is the same number of days. Quoting my previous post on this:

Individual preferences. People who use SA for investments + Simple may choose not to migrate to Versa because they don't feel it's worth the inconvenience of register another apps just for MMF

Very cute and interesting visual way to show how long before payout happens on Versa.

Although not particularly useful for experienced investors, it's a nice little indicator for people who are new to MMF investing.

It just tracks number of days until next dividends paid by HWAEDEP It ticks upward every day. Makes people feel anticipation towards dividends payout day haha

It's a form of "gameification" design that's actually quite interesting and might motivate people to hold onto investment longer.

Currently using both. Have put in roughly equal amount of money to track their individual performance.

If you mean transfers between bank account and Versa/SA, so far I've never gotten any warnings from bank, but my bank is used to large sums of money suddenly moving in/out my account 😅 I think for banks they mostly want to find out your source of funds and that they're legit clean money (not from criminal activities/money laundering/terrorist financing), so if you transfer from SA/Versa they usually won't get red flags because they're legitimate entities registered under Malaysia Securities Commission.

Itu best you consult with bank directly or with your lawyer, not a random LYN forumer like me

Only from personal experience with managing bmy family's and my finances and knowledge from research LOL

But I zero direct experience with that kind of situation you describe, so I don't know what will happen or what kind of legal process is involved.

Also asking about suspicious transaction is a bit out of topic with this thread, suggest you start your own thread elsewhere so sifus can discuss better?

This post has been edited by DragonReine: Feb 22 2021, 05:42 PM