Malaysians not saving enough

Thursday February 19, 2009

Survey: Malaysians not saving enough

By LEONG HUNG YEE

KUALA LUMPUR: Malaysians are not saving enough and they are not prepared to face a financial meltdown should they lose their job or be retrenched.

According to the latest findings from Citi’s Financial Quotient (Fin-Q) 2008 survey, only two in five (39%) Malaysians actually save and less than one-in-three (28%) make and stick to a monthly budget.

Timothy Johnson

Citibank Bhd head of segment and marketing, retail bank Timothy Johnson said the results from Malaysia show an average Fin-Q score of 51 points out of a possible 100 points, with 54% of Malaysians scoring 50 points and below.

A majority of Malaysians reported in the survey saved up to 20% of their monthly income - excluding the 11% in the Employees’ Provident Fund - and 12% said they do not save anything at all.

In the event of a job loss but with continued regular expenses, one-in-five indicated their savings would last for only four weeks.

On average, Malaysians reported having 11 weeks of savings in reserve,

“Against the backdrop of the current challenging economic environment, these findings are quite worrying,” Johnson said in a briefing yesterday.

He said although the Fin-Q scores in seven of the 11 subject areas have shown improvement, it was not.

“We believe that a lot more needs to be done to ensure Malaysians are truly financially savvy as the detailed survey results revealed that there is still room for improvement,” he added.

The Citi Fin-Q survey comprised 500 online interviews of 40 questions each, rolled out to determine the level of understanding among Malaysians about their personal finances and financial practices. The survey was conducted from Oct 15 -30.

Johnson said more Malaysians were taking an interest in their finances and the recent economic crisis had made saving for emergencies an important element for them.

According to the survey, 56% are somewhat better off now than they were a year ago. Nevertheless, 37% were worried about their financial future. While 86% of Malaysians attempt to follow a budget, less than one-in-three (28) actually stick to the budget.

The Fin-Q also revealed that 30% Malaysians indicated they would “know exactly” and 60% have a “good idea” what to do if they were given six months salary to invest. There was also a 6% increase in the number of Malaysians who have a formal retirement plan and 56% are confident or somewhat confident that their savings will lead to a comfortable life in retirement.

Asked how much would be needed for retirement, Johnson said it was very subjective. He said the answer required thorough thinking and planing as the amount of money you need in retirement had a direct correlation to the style of living you wish to have.

“If you want to retire in Bahamas, you will need a bigger amount compared to living in a house in suburban area,” he said, adding that to gauge the figure, one should look at the current expenses and estimate how they might at retirement.

Johnson also pointed out a fascinating finding in the survey. He said 35% Malaysians believed that money can buy happiness.

He said the Fin-Q was a snapshot of our current level of financial literacy and what we all need to do to better control our finances. Malaysians needed to be disciplined and have good financial management to ensure enough savings, he said.

“I believe Malaysians should provide additional focus on developing and enhancing their level of financial literacy, more so given the current challenging environment.”

Don’t rely on your EPF

Don’t rely on your EPF

Many Malaysians believe their retirement can be funded by their Employee Provident Funds (EPF) savings. This is unrealistic. By relying solely on your EPF savings, you underestimate the amount needed to retire and overestimate how much you can withdraw once retired.

Malaysia’s pension scheme is meant to provide contributors with the basic necessities. Unless you plan to make drastic lifestyle changes after you retire, there is a big chance of exhausting all your funds in just a few years, with escalating living costs and increased longevity.

Living on a quarter of your income

The amount that we have in our respective EPF accounts depends on how much we make. For salaried employees, the mandatory contribution rate to the country’s pension fund is 23% of the employee’s monthly salary; 12% is contributed by the employer and the rest is deducted from the individual’s pay. At age 55, contributors can opt to take the sum along with annual EPF dividends declared to finance the rest of their life. Any withdrawals made before this age, such as to buy a property or pay for medical and educational expenses, will reduce the amount that you receive at retirement age.

All things being equal, with a monthly contribution of 23%, those relaying solely on EPF funds for their retirement will have to live on slightly less than a quarter of their current income every month. Is it possible to live frugally on this sum?

Even EPF officials have consistently highlighted the need for contributors to supplement their retirement funds with other sources of income. According to Deputy Finance Minister Datuk Seri Ahmad Husni Hanadiah, the average Malaysian will have approximately RM120,000 in their EPF account at the age of 55. This amount provides the retiree with RM500 a month to live on for 20 years. While it can be argued that this meagre sum can be stretched to provide for basic necessities (families earning this amount are classified “hardcore poor” and are eligible for government aid), it is not sufficient to provide for those that live beyond the age of 75.

Inflation Surpasses Returns

Inflation is another reason why you should not depend solely on your EPF funds for your retirement.

Inflation pushes up the cost of living. At the very core, inflation means we have to pay more for the same amount (and quality) of goods and services consumed. It eats away the value of your EPF funds. For example, a yearly 5% dividend declared by EPF translates to a real return of 1% if inflation for that particular year averages out at 4%.

As shown in Table 1, the EPF’s annual dividends have been just slightly more than the country’s inflation rate, which is measured by the consumer price index (CPI).

Table 1: EPF and CPI

	2005	2006	2007	2008
EPF Annual Dividends	5.00%	5.15%	5.80%	n/a
CPI	3.1%	3.6%	2%	5.7%*

*Bank Negara’s estimate
Source: EPF and Bank Negara

However, one criticism of the CPI is that it does not reflect the actual consumption patterns of different regions and different income groups. This is could be due to controlled prices for a generic brand of several items in the CPI’s basket of goods and services, including cooking oil, white bread and rice. Controlled prices do not reflect actual market prices paid by the majority of Malaysians, especially those living in cities.

Revisions to the CPI basket are also infrequent - the last revision was in 2005. Recognising these shortcomings, the government reportedly reassessed the composition of the CPI and is considering publishing separate inflation rates for urban and rural areas.

CPI is also a poor reflection of inflation experienced by individuals. In June 2008, the CPI jumped to a 26-year high of 7.7%. However, in reality, most people experience a jump in prices which exceed 7.7%. It is more likely that the good and services purchased, especially in the urban areas, reflect the 40% increase in fuel prices and the 18% increase in electricity tariffs.

As more and more producers start passing down rising transportation cost to consumers, we believe inflation will continue at higher levels for some time. This will eat into the value your EPF savings, especially if annual returns declared for this year do not surpass 5.7%, the estimated inflation rate for 2008.

What Can Be Done?

The first step is to stop depending on the EPF. Take responsibility for your retirement and invest with a clear goal in mind. The objective is to invest in assets such as equities that have historically been able to provide inflation-beating returns.

To get started, here are some tips:

1. Invest now.
The sooner you start investing, the sooner you start building your wealth. Take a long-term view and invest small sums over a long period.

2. Take a look at how much you will need to retire.
This is, at best, a guesstimate of the expenses that you will incur when retired. Aim for a higher percentage of your current income, for example 65% to 80% of what you are earning now to sustain the same lifestyle once you stop earning.

3. Diversify.
This can be easily done with unit trust funds. It is possible to invest your EPF funds in approved local funds but your selected investments must make better returns than EPF’s annual dividends. However you still need to diversify your portfolio with different asset classes and geographical coverage.

4. No matter what happens – whether the market falls or climbs - always keep retirement as a financial goal and stay invested.

http://www.fundsupermart.com.my/main/research/viewHTML.tpl?articleNo=5

Saturday October 2, 2010

Maximising savings

By DALJIT DHESI
daljit@thestar.com.my

WITH longer life expectancy, escalating medical and education costs, most people’s Employees Provident Fund (EPF) savings will diminish over time.

The worst case scenario will be that retirement savings will run out in a couple of years if one has to finance their children’s tertiary education and pay for private medical bills.

So what should a person do to boost his or her EPF savings without losing out on their retirement savings?

Prudential Assurance Malaysia Bhd chief executive officer Charlie Oropeza says depending on a person’s risk appetite, investment time horizon and income, one can opt to invest in, among others, properties, equities, unit trusts and investment-linked insurance plans.

It is important to invest in the right financial instruments to ensure a comfortable retirement.

Citing a retirement survey commissioned by Prudential, Oropeza says Malaysians tend to be conservative when it comes to the type of investment tools they use to save for retirement.

He says most people rely heavily on low yielding bank savings or fixed deposit accounts to grow their retirement nest egg.

Contrary to the common belief that keeping money in the bank is the best way to preserve capital, Oropeza says this may not be good enough given that interest rates of bank deposits can hardly outrun inflation.

He says regular investing and saving is an effective and convenient way to help one reach his retirement goal.

“Even a little money saved regularly can grow to a tidy sum over time. The easiest way to reach your financial goals is to start investing through a regular savings plan. By setting aside an amount each month, you will be well on your way to developing substantial funds for retirement,“ he says.

Besides putting money aside regularly, he says choosing the right fund and diversification of portfolio is equally important to ensure successful retirement savings.

Portfolio diversification helps spread the risk so that the retirement portfolio is not heavily impacted by one investment. Diversify within the asset class and among several assets, Oropeza advises.

Robert Foo, who is principal consultant of MyFP Services Sdn Bhd, says EPF funds should also be invested into unit trusts. He says investments should be diversified into different funds.

Although EPF has limited the upfront sales charge on unit trust investments to a maximum of 3% of the investment amount, Foo says it is still too high and should be reduced to 1%. Another alternative, he says is to spread this 3% over three years instead of having the investor lose the whole 3% upfront.

If possible, investors should invest through fee-based financial planners who can get funds at net asset value (meaning 0% upfront sales charge), which will be a substantial savings for them, he says.

If the Government is serious about providing ways for Malaysians to fund their retirement, they should allow EPF contributors to invest into offshore funds for greater choice and diversification.

Foo recommends buying a home if one does not own one yet because it is indirectly an investment. He, however, cautions not to over commit and buy a house that will stretch a persons’s finances too much.

Licensed financial adviser Jeremy Tan of Standard Financial Planner Sdn Bhd says another option available for EPF contributors is to withdraw for the purchase of owner-occupied home or settlement of mortgages.

It would only be wise for them to withdraw for this purpose, especially the latter, if the mortgage rate charged by the bank is higher than the average EPF dividend rate.

Based on current mortage interest rates, Tan says it will be more appropriate to keep the monies in EPF to harness the return rather than withdraw for repayment purposes.

On unit trusts, Tan says although this asset class is an option to grow savings, it may or may not provide an increase in returns higher than the EPF’s dividend rate.

The strategy to adopt is to invest regularly and diversify into different asset classes of mutual funds taking into consideration one’s risks appetite, to potentially gain higher returns than EPF rates, he says.

Great Vision Wealth Management Sdn Bhd associate director for tax and financial consulting Darian Lim says those who are not quite sure which unit trusts fund to invest into (there are about 223 approved unit trusts funds) and who “cannot stomach” the market volatility, might be better off just leaving the funds in EPF since it gives reasonable returns at much lower risk.

From EPF’s findings, Lim says about 72% of the members who withdraw their savings at age 55 tend to spend all the money within three years.

He says: “Proper retirement planning is of utmost importance as we slowly move towards a developed nation with better healthcare and medical advancement. People around the world are living longer with those in developed nations having an average mortality age beyond 80.

“As such, everyone needs to have sufficient funds to retire comfortably. It helps to find ways to maximise returns from EPF investments to increase one’s retirement fund.”

Source - http://biz.thestar.com.my/news/story.asp?file=/2010/10/2/business/7126852&sec=business

KWSP - History of distribution rate

New funds added to EPF-MIS

With effective from 1-Sept-2010, there are a list of new funds will be added to the EPF-MIS (EPF Member Investment Scheme). These funds carry maximum of 30% foreign exposure.

Personally, I would recommend a must buy, which is Public Ittikal. This fund comes with free insurance.

http://www.publicmutual.com.my/page.aspx?name=epf_approved_2010

EPF members can buy trust funds up to 30% foreign portfolio

http://www.mysinchew.com/node/39973

2010-06-04 11:55

KUALA LUMPUR, Friday 4 June 2010 (Bernama) -- Unit trust funds with up to 30 percent foreign portfolio will be made available for sale to Employees Provident Fund (EPF) from August onwards, a move that will give more investible options to members.

Restricting them to purely domestic unit trust portfolio, without permitting them access to international diversification and growth potential, can hinder EPF members' ability to spread risk and to enhance returns, the Federation of Investment Managers Malaysia (FIMM) announced today.

However, only funds that meet the performance evaluation criteria that is set fo EPF-Members Investment Scheme (EPF-MIS) will be qualified, it said.

Among the criteria the funds must have a minimum three-year performance track record, FIMM president Tunku Datuk Ya'acob Tunku Tan Sri Abdullah told a press conference before the annual meeting here today.

Hence, newly-launched funds will not be offered under the scheme, he said.

MySinchew 2010.06.04

EPF members can buy unit trust with up to 30% foreign portfolio from August

Published: Friday June 4, 2010 MYT 12:55:00 PM
Updated: Friday June 4, 2010 MYT 1:26:48 PM
http://biz.thestar.com.my/news/story.asp?file=/2010/6/4/business/20100604125059&sec=business

By DALJIT DHESI

KUALA LUMPUR: Effective Aug 1, funds that have higher consistent returns for at least three years and those with a foreign portfolio component of up to 30% would be made available for sale to Employees Provident Fund (EPF) members.

This meant that funds with less than three years track record and newly launched ones would not be sold to EPF members.

Federation of Investment Managers Malaysia (FIMM) president Tunku Ya'acob Tunku Abdullah said the move would further instill trust and confidence in unit trust investment and enhance investment options.

To achieve the above objective, FIMM would introduce a performance focus methodology to measure funds under the EPF Members Investment Scheme annually.

From Left: Tunku Datuk Ya'acob Tan Sri Abdullah and Lee Siew Hong on Friday. - Starpic by Low Lay Phon

"Funds that consistently have higher performance relative to its peers in the same category will be made available for sale to EPF members. Those that generate returns but not as high as their peers and do not meet a certain criteria, will be suspended for sale.

"These funds can be re-instated when they eventually meet the criteria. The evaluation methodology for sale of funds as well as those with foreign exposure are expected to be implemented in August," he said at a press briefing.

Over RM20b disbursed for EPF members’ investment

Written by Surin Murugiah

Wednesday, 11 August 2010 12:22

KUALA LUMPUR: The Employees Provident Fund (EPF) has to date disbursed over RM20 billion to its appointed fund management institutions (FMIs) under the EPF Members' Investment Scheme since its launch in November 1996. Investment withdrawals are applicable to members who have at least RM5,000 over and above the basic savings required in Account 1 (retirement account), and have not reached 55 years of age. The basic savings required is dependent on the contributor's age and total funds in Account 1. The amount of savings that can be invested must not be less than RM1,000 and not more than 20% of the amount exceeding the required basic savings in Account 1. In an email reply to The Edge Financial Daily, the EPF's general manager for public relations Nik Affendi Jaafar said there were currently 37 FMIs appointed by the EPF under the scheme. He said in general, the performances of the respective funds and returns to investors had been mixed depending on the categories, strategies and objectives of the investments. "Naturally, some do tend to outperform the others," he said. The FMIs are categorised as unit trust fund managers and asset managers. This article appeared in The Edge Financial Daily, August 11, 2010.

Higher return for EPF expected after August!

EPF members can buy unit trust with up to 30% foreign portfolio from August

By DALJIT DHESI

 

KUALA LUMPUR: Effective Aug 1, funds that have higher consistent returns for at least three years and those with a foreign portfolio component of up to 30% would be made available for sale to Employees Provident Fund (EPF) members.

This meant that funds with less than three years track record and newly launched ones would not be sold to EPF members.

Federation of Investment Managers Malaysia (FIMM) president Tunku Ya’acob Tunku Abdullah said the move would further instill trust and confidence in unit trust investment and enhance investment options.

To achieve the above objective, FIMM would introduce a performance focus methodology to measure funds under the EPF Members Investment Scheme annually.

From Left: Tunku Datuk Ya'acob Tan Sri Abdullah and Lee Siew Hong on Friday. - Starpic by Low Lay Phon

"Funds that consistently have higher performance relative to its peers in the same category will be made available for sale to EPF members. Those that generate returns but not as high as their peers and do not meet a certain criteria, will be suspended for sale.

"These funds can be re-instated when they eventually meet the criteria. The evaluation methodology for sale of funds as well as those with foreign exposure are expected to be implemented in August," he said at a press briefing.

 

EPF TO FURTHER INVEST OVERSEAS

EPF TO FURTHER INVEST OVERSEAS

To hasten divestment of equity holdings in GLCs

Ee Ann Nee

Monday, March 29th, 2010 12:52:00

KUALA LUMPUR: The Employees Provident Fund (EPF) has invested six per cent of its fund size on overseas equities and efforts to invest in countries abroad will continue in the next few years.

Its chief executive officer Tan Sri Azlan Zainol told reporters this morning that although the government has directed the EPF to hasten the divestment of its equity holdings in government-linked companies (GLCs) to make the capital market more attractive to foreign fund managers, the move cannot be done in a rush.

"Our investment is portfolio management where we look at the best interest of our members to get the best returns for them. The sellout has to be done properly," he said, adding that there is no timeframe for the move.

Azlan, who was speaking at the opening ceremony of the technical seminar "High Performance in Social Security by Innovation, Change Management and Risk Management, said EPF will be looking at investing 10 per cent of its shareholding stake in public-listed GLCs in the United States, Europe, Australia and Southeast Asia.

It was reported last week that the government directed Khazanah Nasional Bhd and EPF to hasten the divestment of their equity holdings in GLCs to make the capital market more attractive to foreign fund managers.

Analysts said the continuous move to reduce government holdings would attract more international investors who can bring added value to corporate shareholdings as well as make Bursa Malaysia more attractive to foreign fund managers.

It will also increase private sector driven liquidity on the bourse through less government participation and in the process increase shareholder diversity particularly from foreign funds.

On a different note, EPF's chairman, Tan Sri Samsudin Osman, said that Malaysia has yet to fall under the category of an aged nation, the process of aging has already begun.

"Although it is forecasted to take place in 10 years' time, Malaysia should prepare itself for the effects of an aged nation," Samsudin said this morning.

The percentage of the elderly, currently at 4.6 per cent, is expected to increase to 11.2 per cent by year 2020, the year Malaysia aims to become a developed nation, Samsudin said.

"The challenge faced by policymakers and social security organisations is to draw an innovative blueprint on social protection for the less privileged and the elderly. The plan should possess global appeals given the background of regional economic integration and the mobility of professionals and workers," he added.

(http://www.mmail.com.my/content/31701-epf-further-invest-overseas)

More funds will be added to the list?

In Public Mutual, would PSSF and PISSF out of the list in August? I am looking forward PITTIKAL, PAGF and PSF to be in the list.

Public Mutual declares distributions for 11 funds - May 2010

Public Mutual declares distributions for 11 funds

Public Bank’s wholly-owned subsidiary, Public Mutual, declared distributions for eleven funds totalling over RM440 million. The gross distributions declared for the respective funds for the financial year ended 31 May 2010 are as follow: Fund Gross Distribution / Unit Public Dividend Select Fund 3.00 sen per unit Public Ittikal Fund 8.00 sen per unit Public Islamic Equity Fund 1.75 sen per unit Public Islamic Select Treasures Fund 1.25 sen per unit Public Far-East Select Fund 1.75 sen per unit Public Regional Sector Fund 1.75 sen per unit Public Global Select Fund 0.75 sen per unit Public China Titans Fund 1.50 sen per unit PB ASEAN Dividend Fund 1.50 sen per unit Public Balanced Fund 7.00 sen per unit Public Select Bond Fund 4.50 sen per unit Public Mutual Chief Executive Officer Ms. Yeoh Kim Hong said Public Dividend Select Fund has generated a one-year return of 28.91% for the period ended 14 May 2010, according to The Edge-Lipper Fund Table dated 24 May 2010. Meanwhile, Public Ittikal Fund and Public Islamic Equity Fund have generated one-year returns of 21.78% and 23.97% respectively for the period ended 14 May 2010. Public Ittikal Fund, which was launched in 1997, is an award winning fund, having received a total of 20 awards in its category from The Edge-Lipper Malaysia Fund Awards and The Star/Standard & Poor’s Investment Fund Awards Malaysia. Public Islamic Select Treasures Fund, which was launched in 2008, has generated a one-year return of 21.54% for the period ended 14 May 2010. This fund is open for EPF Members Investment Scheme. As for our regional and global funds, Public Far-East Select Fund and Public Regional Sector Fund have generated one-year returns of 19.21% and 16.37% respectively for the same period. Both funds were ranked Top 2 out of 267 funds globally, under the Equity Asia Pacific 3-year returns as at December 31, 2009 by Lipper Global Classification. Meanwhile, Public Global Select Fund, Public China Titans Fund and PB ASEAN Dividend Fund have generated one-year returns of 14.22%, 6.17% and 39.23% respectively for the period ended 14 May 2010. At the same time, Public Balanced Fund, which was launched in 1995, recorded a one-year return of 19.72% for the period ended 14 May 2010, according to The Edge-Lipper Fund Table dated 24 May 2010. As for our bond fund, Public Select Bond Fund recorded a one-year return of 5.87% for the period ended 14 May 2010. All of these funds are distributed by Public Mutual unit trust consultants, with the exception of PB ASEAN Dividend Fund which is distributed via Public Bank branches nationwide. Public Mutual is Malaysia’s largest private unit trust company with 77 funds under management. It has over 2,320,000 accountholders and as at 30 April 2010, the total net asset value of the funds managed by the company was RM37 billion.

 

Public Mutual declares distributions for 5 funds - Apr 2010

Public Mutual declares distributions for 5 funds

Public Bank’s wholly-owned subsidiary, Public Mutual, declared distributions for five funds. The total gross distributions declared for the financial year ended 30 April 2010 are as follows: Fund Gross Distribution / Unit Public Far-East Telco & Infrastructure Fund 2.50 Public Islamic Dividend Fund 1.25 Publis Islamic Asia Dividend Fund 0.75 Public Far-East Balanced Fund 1.50 Public Global Balanced Fund 0.50 Public Mutual Chief Executive Officer Ms. Yeoh Kim Hong said Public Far-East Telco & Infrastructure Fund has generated one-year returns of 31.01% for the period ended 9 April 2010, according to The Edge-Lipper Fund Table dated 19 April 2010. “This fund has outperformed its benchmark for the same period,” she added. Meanwhile, Public Islamic Dividend Fund and Public Islamic Asia Dividend Fund have generated one-year returns of 34.43% and 35.27% respectively for the same period. Public Islamic Dividend Fund is open for EPF Members Investment Scheme. As for Public Far-East Balanced Fund and Public Global Balanced Fund, they have generated one-year returns of 25.03% and 19.69% respectively for the period ended 9 April 2010, according to The Edge-Lipper Fund Table dated 19 April 2010. These funds have also outperformed their benchmarks for the repective periods. Public Mutual is Malaysia’s largest private unit trust company with 75 funds under management. It has over 2,320,000 accountholders and as at 31 March 2010, the total net asset value of the funds managed by the company was RM36.6 billion.

 

Public Mutual declares distributions for 2 funds - Mar 2010

Public Mutual declares distributions for 2 funds

Public Bank’s wholly-owned subsidiary, Public Mutual, declared distributions for two of its funds. The total gross distributions declared for the financial year ended 31 March 2010 are as follows: Fund Gross Distribution / Unit Public Aggressive Growth Fund 8.00 sen per unit Public Regular Savings Fund 4.50 sen per unit Public Mutual Chief Executive Officer Ms. Yeoh Kim Hong said both funds have outperformed their respective benchmarks and managed to deliver respectable double digit returns for the period ended 5 March 2010. According to The Edge-Lipper Fund Table dated 15 March 2010, Public Aggressive Growth Fund and Public Regular Savings Fund generated one-year returns of 53.74% and 52.38% respectively for the period ended 5 March 2010. Meanwhile, the benchmarks for Public Aggressive Growth Fund and Public Regular Savings Fund recorded one-year returns of 49.53% and 49.63% respectively within the same period. Public Aggressive Growth Fund aims to achieve high capital growth over the medium- to long-term period through investments in situational and high growth stocks. Meanwhile, Public Regular Savings Fund, which is open for EPF Members Investment Scheme, aims to achieve consistent capital growth with a steady growth of income over the medium- to long-term. Public Mutual is Malaysia’s largest private unit trust company with 74 funds under management. It has over 2,300,000 accountholders and as at 25 February 2010, the total net asset value of the funds managed by the company was RM35.2 billion.

 

Public Mutual declares distributions for 3 funds - Dec 2009

Public Mutual declares distributions for 3 funds

Public Bank’s wholly-owned subsidiary, Public Mutual, declared distributions for three of its funds. The total gross distributions declared for the financial year ended 31 December 2009 are as follows: Fund Gross Distribution / Unit Public Savings Fund 8.00 sen per unit Public Focus Select Fund 0.75 sen per unit Public Islamic Enhanced Bond Fund 2.00 sen per unit Public Mutual Chief Executive Officer Ms. Yeoh Kim Hong said Public Savings Fund, which was launched in 1981, is the company’s maiden fund. The fund aims to achieve long-term capital appreciation while at the same time producing a reasonable level of income. “According to The Edge-Lipper Fund Table dated 14 December 2009, Public Savings Fund generated a one-year return of 46.08% for the period ended 4 December 2009,” she said. Public Focus Select Fund, which was launched in 2004, generated a one-year return of 45.49% for the period ended 4 December 2009. This fund aims to achieve capital growth through investments in medium-sized companies in term of market capitalisation from diversified economic sectors. Meanwhile, Public Islamic Enhanced Bond Fund was launched in 2006 and recorded a one-year return of 10.26% for the same period. As a Shariah-based bond fund, it aims to provide a combination of annual income and modest capital growth primarily through a portfolio allocation across Islamic debt securities and equities that comply with Shariah requirements. Public Mutual is Malaysia’s largest private unit trust company with 72 funds under management. It has over 2,000,000 accountholders and as at 30 November 2009, the total net asset value of the funds managed by the company was RM34.7 billion.

 

Public Mutual declares distributions for 5 funds - Jan 2010

Public Mutual declares distributions for 5 funds

Public Bank’s wholly-owned subsidiary, Public Mutual, declared distributions for five of its funds. The total gross distributions declared for the financial year / period ended 31 January 2010 are as follows: Fund Gross Distribution / Unit Public Index Fund 5.00 sen per unit Public Far-East Property & Resorts Fund 0.50 sen per unit Public Islamic Optimal Growth Fund 0.50 sen per unit Public Enhanced Bond Fund 2.00 sen per unit Public Money Market Fund 2.50 sen per unit Public Mutual Chief Executive Officer Ms. Yeoh Kim Hong said Public Index Fund and Public Far-East Property & Resorts Fund have generated one-year returns of 45.43% and 92.41% respectively for the period ended 8 January 2010, according to The Edge-Lipper Fund Table dated 18 January 2010. While Public Islamic Optimal Growth Fund, which is a EPF approved fund has generated a one-year return of 35.38% for the same period. As for Public Enhanced Bond Fund, it has generated a one-year return of 10.99% for the period ended 8 January 2010. Public Money Market Fund, on the other hand, has generated a one-year return of 2.14% for the period ended 8 January 2010. Public Mutual is Malaysia’s largest private unit trust company with 73 funds under management. It has over 2,000,000 accountholders and as at 31 December 2009, the total net asset value of the funds managed by the company was RM35.6 billion. .

 

Public Mutual declares distributions for 4 funds - Nov 2009

Public Mutual declares distributions for 4 funds

Public Bank’s wholly-owned subsidiary, Public Mutual, declares distributions for four of its funds. The total gross distributions declared for the financial year ended 30 November 2009 are as follows: Fund Gross Distribution / Unit Public Far-East Dividend Fund 0.25 sen per unit Public Select Alpha-30 Fund 0.75 sen per unit Public Islamic Sector Select Fund 0.50 sen per unit Public Islamic Balanced Fund 0.25 sen per unit Public Mutual Chief Executive Officer Ms. Yeoh Kim Hong said that the above funds have performed well and managed to deliver respectable double digits returns for the period ended 6 November 2009. According to The Edge-Lipper Fund Table dated 16 November 2009, Public Far-East Dividend Fund generated a one-year return of 45.53% for the period ended 6 November 2009. At the same period, Public Select Alpha-30 Fund, which was launched in April this year, generated a six-month return of 24.27%. Public Islamic Sector Select Fund, which was launched in November 2007, generated a one-year return of 33.70% for the period ended 6 November 2009. This fund is open for EPF Members Investment Scheme. Meanwhile, Public Islamic Balanced Fund recorded a one-year return of 21.45% for the period ended 6 November 2009. Public Mutual is Malaysia’s largest private unit trust company with 72 funds under management. It has over 2,000,000 accountholders and as at 31 October 2009, the total net asset value of the funds managed by the company was RM34.3 billion.