Eastspring investment fund - monthly income plan

[Alan9711]

Bought above from a bank after recomendation from the RM. 2,3 months down the road , keep receiving calls from the first RM and others to sell asthey claim am already making profit and is time to sell and buy into other product. I felt the sales commissiion payable to the first RM is not able to recover from the profit and uf i sell, have to pay commision again. At the end , there us no profit gain. Also, when check with them on the commission percent, different RM offer different rate from 4 to 2.5. Anybody encounter same?

[Throttle2]

Bought above from a bank after recomendation from the RM. 2,3 months down the road , keep receiving calls from the first RM and others to sell asthey claim am already making profit and is time to sell and buy into other product. I felt the sales commissiion payable to the first RM is not able to recover from the profit and uf i sell, have to pay commision again. At the end , there us no profit gain. Also, when check with them on the commission percent, different RM offer different rate from 4 to 2.5. Anybody encounter same?

 

 

Dude, make enough profit or not surely you can calculate yourself right?

Whats the rationale for buying the fund?

To trade? Or to tap expertise and diversify?

And what credentials does the RM hv?

If not sure what you buying better dont buy.

 

This is a case for our in house private banker Tedhlw.

 

Calling Teddy to the rescue!

 

 

[RealSabbie]

Private banker where got sell this type of plain vanilla unit trusts one, they usually recommend accumulators, wahahaha

[Ngck]

Private banker where got sell this type of plain vanilla unit trusts one, they usually recommend accumulators, wahahaha

 

cannot sell accumulators the then they try to sell unit trust....

 

but even if unit trust hit target, will kena F upside down for not hitting target for accumulators which is more valuable to the managers

[RealSabbie]

cannot sell accumulators the then they try to sell unit trust....

 

but even if unit trust hit target, will kena F upside down for not hitting target for accumulators which is more valuable to the managers

 

hahaha, great, you are in the know too, ya nowadays really tough to be private banker.

[Ladykillerz]

it is quite hard to earn from investment like unit trust, funds and stuffs.

year to year, the economy cycle is fluctuating like nobody business.

 

i think the best is to invest on properties, currency and/or gold stock.

other than that, either low return or high likely make losses.

 

i always receive calls for short term low interest rate loan, telling me to get the loan and to do investment.

the question is, which investment to invest? talk easy, when it comes to decide on one, unable to confirm which one.

it's somehow like gambling.

[Good-Carbuyer]

it is quite hard to earn from investment like unit trust, funds and stuffs.

year to year, the economy cycle is fluctuating like nobody business.

 

i think the best is to invest on properties, currency and/or gold stock.

other than that, either low return or high likely make losses.

 

i always receive calls for short term low interest rate loan, telling me to get the loan and to do investment.

the question is, which investment to invest? talk easy, when it comes to decide on one, unable to confirm which one.

it's somehow like gambling.

+1. Can not sustain the conversion-free/conversionless accuracy with Duel Currencying either[sweatdrop]. Only managed to breakeven/stoploss with Spot FOREX trading demo last week[shocked]

[Donut]

U are not even sure of your objectives of buying this investment. What's your objectives and rational?

 

Don't trust your RM. they are employed for reasons, and your welfare is not one of the reasons.

[Tedlhw]

cannot sell accumulators the then they try to sell unit trust....

 

but even if unit trust hit target, will kena F upside down for not hitting target for accumulators which is more valuable to the managers

 

Wow you seem to know a lot.

 

Would you like to tell us which private bank do you bank with or work for?

With specific product targets?

 

If its true, name them.

[Tedlhw]

Bought above from a bank after recomendation from the RM. 2,3 months down the road , keep receiving calls from the first RM and others to sell asthey claim am already making profit and is time to sell and buy into other product. I felt the sales commissiion payable to the first RM is not able to recover from the profit and uf i sell, have to pay commision again. At the end , there us no profit gain. Also, when check with them on the commission percent, different RM offer different rate from 4 to 2.5. Anybody encounter same?

 

The monthly income fund is generally meant as a mid/long term holding for some yield, about 4%-5% p.a. thereabouts? I didn't bother to check, sorry.

If that is the case, it is kinda doubtful that you would have recovered your cost.

 

However, like Throttle said, making money or not, you can count right?

 

BTW, i don't know what your arrangement is, but i have never seen anyone being charged for selling a UT.

As for the commission, it is negotiable depending on how valuable you are as a customer.

 

If you feel u don't need advice, buy from fundsupermart.

[Ngck]

Wow you seem to know a lot.

 

Would you like to tell us which private bank do you bank with or work for?

With specific product targets?

 

If its true, name them.

 

2 lines of comments only... know alot meh....

 

i drink kopi and the next table complain loudly one... i just listen only

[Alan9711]

The objective is of course to gain more $ as against putting into fixed deposit which was recommended by the first RM and to eventually enter into a relationship with the RM.(lol).The first objective was met and not the second and what follows was calls from different RM calling every other day to sell and buy into other product.

[Alan9711]

Thanks tedlhw. The divedents was paid monthly and since i bought it low, they (different) RM) kept calling and advise me to sell and yes seling, do not have to pay commission, but thier objective is to try to sell me others products and gain commision from there by undercutting each other from 4 to 2 %.

[RealSabbie]

it is quite hard to earn from investment like unit trust, funds and stuffs.

year to year, the economy cycle is fluctuating like nobody business.

 

i think the best is to invest on properties, currency and/or gold stock.

other than that, either low return or high likely make losses.

 

i always receive calls for short term low interest rate loan, telling me to get the loan and to do investment.

the question is, which investment to invest? talk easy, when it comes to decide on one, unable to confirm which one.

it's somehow like gambling.

I am no private banker but to take short term loans aka balance transfer to invest is a big no no for me, the preferential interest rates usually only last for six months

[RealSabbie]

Thanks tedlhw. The divedents was paid monthly and since i bought it low, they (different) RM) kept calling and advise me to sell and yes seling, do not have to pay commission, but thier objective is to try to sell me others products and gain commision from there by undercutting each other from 4 to 2 %.

Hence you do know your positions and have some knowledge of investing and your purpose of starting this thread is to highlight the in fighting between your bankers to churn your fund? May I ask how much you invested?

[Terras14]

Bought above from a bank after recomendation from the RM. 2,3 months down the road , keep receiving calls from the first RM and others to sell asthey claim am already making profit and is time to sell and buy into other product. I felt the sales commissiion payable to the first RM is not able to recover from the profit and uf i sell, have to pay commision again. At the end , there us no profit gain. Also, when check with them on the commission percent, different RM offer different rate from 4 to 2.5. Anybody encounter same?

 

Hi this fund is previously called pru income if I m not wrong. Is a fund with strong track record and it's for the lonnnng term so 2 -3 months is b-------t. However u shld be able to calculate if u make profit or not and if yes and you see other better opportunities, it's up to you eventually. My 2 cts worth.

[RealSabbie]

Just a bond fund with fanciful name

[Ladykillerz]

I am no private banker but to take short term loans aka balance transfer to invest is a big no no for me, the preferential interest rates usually only last for six months

 

precisely the point!

if a person need to take loan, do you think six months loan duration is sufficient?

more over, investment in short term period, what kinda returns are we looking at?

basically, the banks just want you to tag on it and got stuck with it.

Edited May 6, 2012 by Ladykillerz