Public Mutual gets SC nod to double funds size


Public Mutual Bhd has received the Securities Commission’s (SC) approval to double its Public Far East Balance Fund (PFEBF) to three billion units from 1.5 billion units and its Islamic fund Public Asia Ittikal Fund (PAIF) to five billion units from 2.5 billion units to meet the strong demand.

The mutual fund company in a statement said PFEBF’s initial offer of 1.5 billion units (RM375 million) was fully subscribed within the 21-day initial offer, which ended on Feb 12.
The increase in fund size for these funds will enable the company to meet the strong market demand,” chief executive officer Lam Kam Yin said in a statement on March 2.

Read more:

via:Shahibbul Anwar
My 2 cents:
With the recent downturn of several mutual fund, now is the best time to buy ones. If you are practicing regular saving (dolar cost averaging) for long term investing, you don’t need to do any guessing, just continue with your plan and forget about this bearish market.

  1. #1 by Maverick on March 7, 2007 - 5:16 pm

    Hi Irwan,
    First of all, congrates on the effort of providing a useful knowledge about investment. This is my first time here and i’m already enjoying reading all those great threads. like you, i am a fellow malaysian currently studying in germany and would like to invest my money in malaysia. i’ve tried ASB and stokc trading before but never tried unit trust.

    would really like to get in touch with you and get some more info about unit trust. do you think that it is a good time to buy a unit trust now? anf how easy it is to manage it from abroad?

    really hope to get in touch with you..hope you can email me later. take care bro and have a great day!

  2. #2 by Irwan on March 7, 2007 - 8:24 pm

    Hi Maverick, I hope my inconsistent page layout and the ads won’t distract you much. To address your question, about unit trust manageability from abroad, this the advices that I gathered from my readings and dear commenter:

    1) You need to inform to your agent that you will be abroad so he/she could make some preparation for you.

    2) You need to pre-signed at least 2 transfer forms (i would prefer 4) for each fund in case of expected market downturn.

    3) You need to pre-signed at least 1 selling form for later use.

    erm.. that’s all what i could think.

    Last time I talk about transfer/selling my agent quickly said that I don’t need it coz my long term investment is unaffected by minute market disruption. So you might want to prepare for this kind of talk.haha

  3. #3 by happysadmelody on March 8, 2007 - 3:06 am

    I’ve been planning on investing on mutual funds but never really understood it, so I stayed away. I’m a student and right now I’m in a process on tackling my debt which I accumulated during my studies, most of which are my study loan. You can read about that at my blog 360.yahoo.com/happysadmelody and maybe give your 2cents.

    About investing in mutual funds, if you have anybody in malaysia, you might want to ask them to send you a copy of “Personal Money” magazine March07 edition which list down the top performer of mutual funds in Malaysia. One of them is public ittikal.

    The best way before investing in mutual funds is to know how much risk you can handle. If you can handle the risk of losing your money, then just stay with FD, ASB or any investment that insure your cash. If you can handle a little risk, that mutual funds that invest in bonds is for you. The only risk here is when the bonds issuer default.

    For medium level risk taker, you can invest in mixed mutual fund which invest your money in bonds and stock. And for the high risk taker, you can invest in mutual funds that invest in stock only. Public Ittikal is one of them.

    My advice is, if you’re muslim, then invest only in islamic mutual funds for it is better for you. Just my two cents!

  4. #4 by Irwan on March 10, 2007 - 4:06 am

    Hi Amirh, i went to ur blog just now and Im surprised to see how determined and organized you are to settle your debt. I’m sure if you can successfully settle you debt, there is no problem for you to become billionaire.

    I agree that risk tolerant is different for each people. So one should know where they stand before they start investing.

    here is a test that you might want to test.
    http://www.ykconsultancy.com/riskprofile.htm

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