Tag Archives: mutual funds

I have 42 million Ringgit

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Or so Public Mutual tells me anyway. I received my Quarter Account Statement for the period ending 30th June 2009 on Saturday as you can see from the picture above (edited slightly to remove some personal information). Most of the report looks okay (actually more than okay due to the gains the markets have made in the last quarter). Then my eye wanders down to the Asset Allocation area of the statement and my eyes pop out.

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Yep, it claims that I have a whopping RM42,385,804.10 in fixed income funds with Public Mutual. Naturally, as much as my wife would prefer otherwise, it’s a mistake as I’m worth nowhere near as much. After asking around on LYN, it seems this is a common error in this quarter’s statement. Everyone seems to have an incorrect entry in the Fixed Income portion but the actual amount varies from person to person. It does make me a bit uneasy that my mutual fund company would be making mistakes like this.

Incidentally, my blog hosting company Bluehost.com had some connection problems for the past two days, which explains why this post is late. Very annoying.

Index funds in Malaysia

Since I got into, well, not exactly an argument, but at least a rather heated discussion over this topic on the LYN forums, I thought it might be interesting to write down a summary of my posts there and also what I’ve learned from that thread. Please note that all of this mostly applies only to Malaysia.

Now I’m just a neophyte investor and I don’t make any claims to exceptional knowledge or skill. But I do take care to read through the basics and try to educate myself in whatever it is I’m getting into. One of the most basic and well known ways to invest your money is through the stock market. You can either do it yourself, picking stocks that you personally believe will do well and pray, or you can entrust it to “professional” mutual fund managers and pray. I’m guessing that most working people don’t have the time or inclination to actually do their own research and will opt for the latter. That’s what I did and this is where things get interesting.

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