I just moved my FD as I have issues with lock in period. So far seem like Versa return are pretty okay to me, just wondering what's it's like comparing to Stashaway or I saw touch n go recent go+

wanna seek some community advise, hope u guys dun mind to share

This post has been edited by unsingable: Apr 9 2024, 11:53 PM

while waiting for responses, you can try this existing thread

Money market fund
https://forum.lowyat.net/topic/4962773/+660

page 34 had some recent posting about comparing these 2...

All info is in money market fund thread.

Versa:
1) 1-2 days withdrawal time, straight to bank account
2) Best returns of the three options you've listed
3) Only FPX transfers for now so can't set up recurring deposit to topup regularly

StashAway Simple
1) 3-4 days withdrawal time, straight to bank account
2) Returns so-so only, on par with non-promo FD
3) Can set up recurring deposit/standing instruction through bank direct debit mandate or JomPay to topup regularly
4) Can be used to park money for dollar cost averaging into StashAway's regular ETF investment portfolios, because can setup recurring transfers from Simple to regular portfolios

GO+
1) 1-2 days withdrawal time, can put in TNG eWallet or bank account balance
2) Returns are less than average non-promo FD rates
3) Cannot do recurring deposit
4) Easy way to transfer/deposit with your TNG eWallet balance, good for heavy TNG user

This post has been edited by DragonReine: Apr 8 2021, 07:45 PM

-Deleted-

(Replied at: https://forum.lowyat.net/index.php?showtopi...st&p=100557837)

This post has been edited by TOS: Apr 8 2021, 07:52 PM

pidm protected?

No. Money market funds are not protected by PIDM.
While money market funds provide more flexibility than fixed deposits, investors should be aware that money invested in these funds is not protected by the Malaysia Deposit Insurance Corp (PIDM).

https://versa.com.my/where-does-your-money-go/

This post has been edited by DragonReine: Apr 12 2021, 06:51 PM

Wonder how safe it is, how long already this Versa?

This post has been edited by spreeeee: Apr 12 2021, 09:16 PM

early this year (2021)

https://fintechnews.my/26051/wealthtech-mal...th-affin-hwang/

Just go their website flip2

https://versa.com.my/

This post has been edited by ironman16: Apr 12 2021, 09:19 PM

I have been using since they launched. Money always comes back to me. Affin Hwang will drop you a receipt every time you buy or sell. So it is safe.

This post has been edited by Ramjade: Apr 12 2021, 09:34 PM

deposited last night, and till now it still show status "deposit in transit".. how long does it usually take?

1-2 biz days from deposit if before cutoff time of 2:30pm, 2-3 biz days if after cutoff time.

You may check their Help Centre > Deposit & Withdrawal >How long does it take for deposit to show in available balance.

I would recommend you read their Help Center articles if you're new to Versa and money market funds. They explain a lot of how it works there.

thanks got it

As per my experience, the money you bank in should invest in 1 - 2 biz days. But it will took few more days to reflect in Versa.

This looks like a great alternative to FD. It's basically FD without the lock-in. I'm loving that fintech companies are starting to eat into banks' margins and hopefully eventually force them to adapt to be more consumer-friendly

Actually, no, technically speaking these fintech companies are working WITH banks rather than forcing them to compete.

That's because MMFs are in fact investing into FDs and many of the fund houses that these fintech companies work with are the investment arm of banking/insurance groups.

MMF essentially are pooled funds that are invested into FDs (and maybe short term bonds), with "special" rates due to investing with large capital. Historically FDs and MMFs are usually about similar profits, it's just that in the past it's difficult for the average retail investor to invest in MMFs due to requiring fairly large initial capital. What fintech does is they play middleman, allowing individuals with poor cashflow to invest in MMFs by pooling resources together.

Fund houses have their own MMFs but usually not advertised widely because it's low profit for them and their agents XD

The reason why Versa is 'higher' than FDs is because our current banking interest rate environment is low + the underlying MMF of Versa, Affin Hwang Enhanced Deposit Fund (HWAEDEP) has corporate and government bonds mixed into its investments, which gives slightly higher returns than FDs at slightly higher risk.

In the past not everyone can touch the MMF as as barrier very high for minimum investment amount of RM10k~RM50k. Think of it as wholesaler.

Versa act as retailer making a pool so small fishes like us can invest RM1 minimum into MMF now. Then Versa will deals with the wholesaler.

It's a good thing and opportunity for small fishes to learn about finance. Otherwise old people still think putting money in FD is the only way to earn interest without the risk to lose money while stock market very high risk and so on.

Your explanation makes sense, thanks

Make sure account verified before and opened before depositing money. Or else it's going to taken longer.

Hi, Anyone have seen drop in lifetime gains after payout? Is this normal? i.e. Yesterday the lifetime gains was rm0.45, today the lifetime gains drop to rm0.21

Did you take out half your capital?

I didn't pay much attention to lifetime gains. But I keep track of the total balance and during payout it went up to RM20.xx which was a huge increase compared to previous payouts. I went to i-access since its the direct source right? It shows RM18.xx and then today Versa app today after payout now also shows RM18.xx. I'm sure whatever amount we see during payout isnt final and we can always verify it by login to i-access we need to.

Are the interest earned from VERSA taxable ?

No. Payouts are tax exempted.

Yes, as this is due to the drop of unit price after payout, which will make it look like your gains "dropped'.

It is normal every fortnight after payout issued with lower adjusted NAV and increased units

Lifetime gains not good indicator look at your invested units versus the NAV price

What are the dates "when the units are cheaper" ?

Surely there isnt way to tell when it is cheaper but price is usually at 1.171 - 1.172 when you look at the affin hwang enhanced deposit fund

If that is the case then in the event of the unit price dropped significantly, we will have the chance to even losing out some of our capital as well?

theoretically yes, but this will unlikely to happen.

money market funds NAV while "fluctuates" in reality only goes up and down within a range of 3 decimal points and it's offset by the monthly or in this case every two weeks payout, which will provide compound gains. Functionally, it is about as risky as FD because Versa invests in FD, just at higher than usual rates because they invest in millions of ringgit.

In any case, you shouldn't be using Versa for long term investment, because its interest rate is not even going to beat inflation in long term.

The days after payout happens (usually middle of month and near end of month), but bear in mind it's only around 0.001 sen per unit difference, and it's offset by dividends payment anyway, so unless you are depositing in six-figures this shouldn't matter

Every 2 weekends after payout with units price fluctuating between 1.1712 to 1.1713

The key is to use it to gain the weekend overnight interest after payout and withdraw on Thursday after that

Don’t expect much as every rm100 will gives you only rm0.01 interest which is useful only if you are disciplined not to spend on that particular weekend

Daily unit changes are only rm0.00009 per unit hence don’t expect a lot because it is only 2.18% pa yearly and with payout and weekend overnight interest is another 0.9% additional if you know how to time it well

Just opened my VERSA account.... let's see if it's better than my FDs

Already better than OPR the key is liquidity as FD is a fixed term while MMF is flexible liquidity that is investable to deposits no more than 762 days

My first deposit is still In Transit since 03-June-2021.. what's going on ?

nothing wrong

it takes about 3 working days for the app to update --- 5-7 june are weekends+ph

if not mistaken, fund already reflected in AHAM.

As of today everything shows correctly... considered as deposit on 4 Jun 2021.
Even received receipt from Affin-Hwang in my email.

As long as the cut is after 2.30pm 4 June you stand earn overnight interest of rm0.01 for every rm100 on top

Payout will be this weekend and the next week will be lower price units again which is the cycle every fortnight

Is the overnight interest given daily like GO+ ?

Did you read Versa explanation of overnight interest? It's not the same as GO+. https://support.versa.com.my/hc/en-us/artic...night-interest-

Overnight interest are only given out on weekends and eve of public holidays to compensate you on for the lag in processing of buying the units

While GO+ is basically converting your TnG credits into Ecash while giving you rubbish returns of lower than daily OPR rate minus 0.45% expense ratio fee hence you will only get between 1.3 to 1.47% pa

The differences is their period methodology while GO+ is daily, Versa is weekly payout and SA Simple is monthly

Erm, why the payout units different from "transaction" post in Versa apps compare to "notification" pop up?

anyone facing this issue? I deposit RM500 and receive 0.34 units in notification. But in actual in transaction only show 0.29 units.

The 0.34 is the distribution you received, it should be RM 0.34 not in units.

The distribution(RM 0.34) reinvested then you get 0.29 units.

Hey there. I'm seeing similar issue:




12 June notification says I got 1.02 units, but
10 June transaction says .87 units acquired

What's more, I just did some calculations on my earning since it's been exactly a month I entered:
RM 1.99 gain with RM 1500 means 1.592% interest p.a.
This is worse than 1 month tenure FD!

FYI, unit nav is 1501.99 ÷ 1282.44 = RM 1.17119709 each
I earned 0.87+0.98=1.85 units, so that means I got RM 2.16671462
This translates to 1.7333717% interest p.a. slightly better, but FD has periodical promotions that offer higher.

So is Versa not that great after all?

Wait until Wednesday as unit price adjustment has not been completed yet after payout when the new price is 1.1713 which after adjustment which means more units at a lower price

Your final readjusted is RM1502.12 which is 1.696% pa which is simple interest not compounded by fornightly payout which is higher at 2.08% pa

This post has been edited by xander83: Jun 14 2021, 09:10 PM

FD cannot withdraw anytime you like. You withdraw prior maturity, no interest.
Versa can withdraw anytime you like and still get interest. Big difference.

Idk about that Wednesday adjustment... I'll hold on to your word until next weekend then.
How did you get RM 2.12? I tried 1.85 unit * 1.1713 = 2.166905, translates to 1.733524%p.a. is still nothing impressive to me..
And where did you get 2.08% p.a. fortnightly payout? This app is fancy with its growing tree and all, but the interest/unit calculations are confusing af...

Does that mean a midweek withdrawal is still eligible for a pro-rated interest? Sounds good, but my expectation for Versa is "better than FD short term investment", for me to accumulate my bullets for overseas investment... For emergency funds, I stick to FD for its best liquidity.

Agreed as Versa is for liquidity

No need to hold my word as the unit is priced changes every 3 days

2.12 based on after payout with adjustment

2.08%pa is fortnightly payout with adjustment and you can checks from AHAM daily price changes as it was to be even better during month of March and April as it was high as 2.12% pa which seems like due to honeymoon phase onboarding of Versa as the units were as high as 1.1722 before payout adjustment

Anytime withdrawal is available because the unit price accumulation changes with every unit accumulated 0.00009 per unit at every price change since daily

Agreed as Versa is for liquidity

No need to hold my word as the unit is priced changes every 3 days

2.12 based on after payout with adjustment

2.08%pa is fortnightly payout with adjustment and you can checks from AHAM daily price changes as it was to be even better during month of March and April as it was high as 2.12% pa which seems like due to honeymoon phase onboarding of Versa as the units were as high as 1.1722 before payout adjustment

Anytime withdrawal is available because the unit price accumulation changes with every unit accumulated 0.00009 per unit at every price change since daily

I've won this from Ringgit Plus Versa campaign.
Has anyone received the airpod?

Update your app to the latest version since there is bugs on the earlier version

Pricing today has been reflected as 1.1714 so your amount is already been readjusted

Congrats

versa user can register for i-access? or you originally already got account with affinhwang asset management?

I am a versa user, I've received an email to activate i-access

I only receive email for the tax voucher, bottom there they mentioned "The temporary User ID and Password is only valid up to 90 days." but I didn't saw any temp ID inside the email...

anyway, I manage to register/link my account using iaccess (don't know why there exist i-access and iaccess)

i-access and iaccess

heard they are merging the system, but I dont concern much, as my investment there is minimal

Yes, as you're selling the units in MMF at higher NAV, so technically you're cashing in on the pro-rated profit before they actually give it to you in the official payout/distribution.

I've been tracking my Versa since February and comparing to my 1-month auto-renewal FD in Affin, and Versa does actually give slightly more due to compounding and overall higher interest (at around 1.9% p.a.), which is decent considering the relative liquidity, without the hassle of "hitting goals" like for high yield savings accounts. For short term cash storage it's a decent vehicle.

You can track the underlying fund here actually: https://my.morningstar.com/my/report/fund/p...px?t=0P00008ME1 without reading too hard into Versa's way of tracking which is confusing as hell.

Checked Playstore, Versa last update was 9 June so that probably shouldn't be the issue here. I guess it's just their pricing update delay...

The website only has 2 decimal points, unfortunately not helpful to my puny amount tracking lol.

Just checking in today, my account sits at 1502.38/1282.44 units, which translates to pricing of 1.1715012, 1.904% p.a. Indeed looking a lot better... But the ever changing value is confusing and it's giving a perception that I can lose money 😵 does this mean the NAV can only stay or go up in price? Else if it can go down then I assume we should be given equivalent units in return, because my understanding of Versa is like any MMF, there is no negative return.

Hi im new to versa
I deposited 1k on 15/6 and it reflected 0.12 lifetime gain today. Is this normal? How to maximise the interest gained?

It is part of their pricing mechanism which is normal because most MMF are priced in order to extract the profit to payout early

Your calculations are wrong because are using simple method just like FD when the yearly rate is currently at 2.09% after compounded every fortnight because it is not a simple interest calculation

NAV price will go down readjusted but you gain in units as the payout is given as unit basis

Even GO+ only can tracked 2 decimal points when the payout reaches rm0.01

In Versa if you’re are holding term just check every fortnight on Wednesday or Thursday on your units holdings will do

Deposit during long weekends and public holiday eve to gain overnight interest with every rm100 will be rm0.01 interest

This post has been edited by xander83: Jun 19 2021, 04:42 AM

MMFs can, in fact, trend downward, but extremely slowly (see the monthly view for net asset value here: https://www.investing.com/funds/affin-hwang...historical-data ), about on par with how fixed deposits change in offered interest rates.

The units given on distribution will override any "loss" in NAV however, as usually it's more than NAV drop in value which moves in 3 decimal points (or 0.0x% range relative to past NAV) compounding interest usually covers that problem easily.

example: Jan 2019 has 1.168 NAV, moved up to 1.176 on March 2019, then slipped until current NAV of 1.171

This post has been edited by DragonReine: Jun 20 2021, 12:58 AM

I requested withdrawal yesterday around 1.30pm. Until now no crediting. Isnt T+1?

evening today

I deposited after office hour on Friday till now not reflected is that normal
My first deposit

I’m a bit confused regarding this versa. Do they actually deposite in varying durations of FDs like cash management funds or some other riskier ones like bonds

It's mostly FD and fixed income, no long term bonds:

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

This post has been edited by DragonReine: Jun 23 2021, 02:05 PM

What are fixed incomes ya

usually refers to short term bonds aka "investment grade" corporate bonds

This post has been edited by DragonReine: Jun 23 2021, 02:03 PM

i dont see they invest in bond

No place to read their exact holdings now?

Thanks for pointing out about the compounding interest calculation; indeed not a fair comparison to FD then. taking my example (at a 1-month mark so far) however, I am still not getting a 2.09% like you say, can you please show me how you get it?

To keep my calculations simpler, I'm assuming the fortnightly interest to be 1.904% compounding p.a. although that was based on monthly calc. My current calculation returns 1.9215% simple p.a. Breakdown:
There are 52/2 = 26 fortnights in a year
Fortnightly rate, 1 + (0.01904/26) = 1.0007323076923076923076923076923
Annualized, 1.0007323076923076923076923076923^26 = 1.0192153146108898918543119717508

I'm considering to compare other short-term investments so I want to fully understand if I'm using the right methods to calculate.

It will take 3 days to reflect in your account by today it will show your new holdings

Wrong method because compounding doesn’t work that way because of fortnight units payout coupled with daily interest

You need to calculate based of number of units to give the accurate percentage

Currently Versa paying interest at on average 0.00008 to each unit daily which times 365 days which gives to 2.9% after minus the expense and taxes

You need to refer AHAM daily price to refer on how their calculation because the daily price fluctuates between 1.1711 to 1.1722

Can't use that method you're trying to do, all MMFs based products don't compound in an "easy to calculate with single formula" method. You need to treat it like an unit trust: The only accurate way to gauge is to take the total amount of units you have, times the NAV of the day you're calculating, record that amount down, then continue to track it daily over time. In this case because it's a low volatility MMF, you only need to travck it for a month. You'll get a good idea of the growth rate that way.

This post has been edited by DragonReine: Jun 24 2021, 09:02 AM

His method is wrong because on fortnightly returns while AHAM EDEP is tracked daily

Guys, to gain the max overnight interests before withdrawal,

best timing is to withdraw on Friday night?

Just checked with versa yes they only invest in FDs

No difference. The transaction uou do on Friday night it's counted as Monday morning transaction.

Yes. The fund only invest in FDs and not bonds.

This post has been edited by Ramjade: Jun 24 2021, 06:19 PM

Withdraw on Wed or Thursday after payout is the best

Only FDs up to 762 days maturities hence Versa will always be positive just the return is getting lower now as ppl are starting to withdraw FDs to survive FMCO

Y wed and Thursday best

i withdrew yesterday but the payout only happened this morning haiyoyo

not sure how it works even after reading some info here, quite complicated the way they use units

If you issue withdrawal on Friday they'll only finish deposit to you on Monday or the next business day if it's public holiday on Monday

If withdrawal on Wed/Thu can at least get by Friday evening latest.

Wednesday is after adjustment payout while Thursday is payout on Friday

Even if you deposit over the weekend or Monday the transaction will be reflected by Wednesday while Thursday you can withdraw as well which is how MMF works only to earn short term interests only

If you withdraw yesterday and payout next morning consider fast because it is next business day payout not instant

A whopping 10RM in thats a game changer right there. Too bad I opened up mine too early.

same, many here also long time users, get nothing from opening acc

Well I registered a week ago got nth .

How much did you put in 1st

Don’t expect much as it is only paying daily at 0.006% per RM while banks pay you next to nothing

This post has been edited by xander83: Jun 29 2021, 12:40 AM

Either deposit is still in transit or payout adjustment

sorry if noob question, does the daily interest earning based on total balance or principal?

Example you invest RM 1k (NAV : 1.0000 per unit), then you will get 1000 units. If today NAV become 1.0001, then your total amount become RM 1,000.10

The interest earning will be RM 0.10

My guess is balance.
https://ringgitplus.com/en/wealth-managemen...et%20Management

No need think about how balance calculated. Just know that can earned interest on any money inside there and can withdraw anytime you like without penalty. Sometimes no need to think so much.

This post has been edited by Ramjade: Jun 30 2021, 11:47 AM