Accelerate your personal finance knowledge with this regular feature on Ringgit Oh Ringgit – the Link Roundup! I promise you’ll find these 10 links informational 🙂
1. That 1% Fee Impact – Mutual Funds vs Investing on your own – DividendMagic
When it comes to mutual funds and unit trusts, always follow this golden rule – the less fees, the better.
Those of you with mutual funds/unit trusts with 3% fees or more. You might want to check out this article. You’re losing way too much. A ridiculous amount.
I just checked my own portfolio. I have ASB (0.35% per annum management fee) and a PRS fund (1.5% per annum management fee). Both should be okay, since for the latter I got RM500 free from gomen (it’s RM1000 free now for under 30 years old) and up to RM3000 in tax rebate too.
(Out of curiosity. Those of you who took mutual funds and unit trusts by popular fund managements companies like Kenanga and Public Mutual. How much do they charge as management fee?)
EDIT: I’ve heard anecdotes that you can call them up to nego and reduce your management fees down to 2%. Worth a try if your fee now damn high and you don’t want to stop contributing there.