How to become a Unit Trust Consultant/Agent in Malaysia?

I’ve always wondered what is it like to become a unit trust consultant in Malaysia?

For those who are involved in the industry, do share your thoughts and ideas.

Some questions that need answering:

1. How to apply?
2. What training program does one need to go through?
3. What ongoing training does one need to go through?
4. Income prospects.
5. Can one become a part-time unit trust consultant and still be successful.
6. What is it like becoming a unit trust consultant?
7. What prompted you to become a unit trust consultant?
8. What prompted you to join the organisation you are in now?

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My Public Mutual Investment Updates (20.08.2009)

I had a look at my Public Mutual online just now and it seems like things are somewhat recovering.

I’m about 10% away from point of breakeven.

I find it rather hard to believe that it recovered rather quickly. If things can rise this quickly, I’m sure that things can go down again just as fast.

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Updates on my Public Mutual Investment (11/07/2009)

So far, total investment has gone down by around 15.52% since the start of the investment. Note, this refers to my unit trust investment only.

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The data below was gathered on the 11th July 2009.

Public Far-East Consumer Themes Fund (PFECTF) >> Up 1.1% since the start of investment.

Public China Ittikal Fund (PCIF) >> Down 28.2% since the start of investment.

Public Asia Ittikal Fund (PAIF) >> Down 22.64% since the start of investment.

Public Islamic Dividend Fund (PIDF) >> Down 19.81% since the start of investment.

Public Far-East Property & Resorts Fund (PFEPRF) >> Down 19.74% since the start of investment.

Public Islamic Asia Dividend Fund (PIADF) >> Down 25.49 since the start of investment.

Public Islamic Enhanced Bond Fund (PIEBF) >> Down 1.06% since the start of investment.

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Weightings of each fund:

PFECTF: 24.8% of portfolio.
PCIF: 20.7% of portfolio.
PAIF: 17.4% of portfolio.
PIDF: 17.4% of portfolio.
PFEPRF: 8.3% of portfolio.
PIADF: 4.1% of portfolio.
PIEBF: 8.3% of portfolio.

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Disclaimer: This article is not a specific nor general advice on managing or investing your money. This article does not constitute a recommendation nor does it take into account your investment objectives, financial situation nor particular needs.

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Credit Cards: Where shall I begin? (A rough guide to credit cards from a non-expert)

Sometimes, it’s hard to understand what’s going on with credit cards. A single bank can come up with many different types of credit cards. All with individual features and benefits (and pitfalls as well!).

Let’s have a brief look at some of the different features of credit cards. Please take note that I’m writing based on my experience and past readings. So, if you notice any inaccuracies or you’d like to add some points, do share your thoughts as well.

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The dangers of a credit card (A look into the disadvantages/downsides)

Like I said in a previous post , it comes with great responsibility to have a credit card.

There are a number of dangers with owning credit cards. Some of them are:

1. You might get yourself in a mountain of debt. If you keep on spending and only pay the minimum amount every month, it’s as if your debt becomes indefinite. Default the payments and you might go bankrupt.

3. Credit card interest rates are the highest. It’s not a cheap debt.

4. Sometimes, it’s hard to stop when you gain momentum in spending, thus leading you to spend up till a point of not being unable to pay.

5. Fraud. Somebody could steal your credit card details and you won’t even know until it’s too late.

6. The perks and rewards that come with the credit card can tempt you to spend more. Often, credit cards reward you by spending more (accumulate points, gifts, and etc.) and this might lead you to do the wrong thing, i.e. spend more.

7. As mentioned again and again, credit card = BAD DEBT.

8. You run the risk of not being able to track your spending. The next thing you know, you are served with a statement to pay by the end of the month, and you realised “Shit, I can’t afford this!”.

As usual, share your thoughts below.

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I’ll be getting my first ever credit card from Public Bank

Due to my being an investor with Public Mutual, I was offered by Public Bank to apply for a credit card. I see some good in owning a credit, so I decided to do so. Read here.

My application has been approved and as of now, I’m waiting for it to arrive.

This will be the first time ever for me to be a Principal Credit Card holder.

[Read more…]

Where do I stand now? Financially speaking of course.

I’ve been blogging about financial freedom for nearly 2 years now. I’ve started my journey towards financial freedom for even longer than that. So, where do I stand now, financially speaking?

Trading

I’ve been trading stocks and CFDs for nearly 4 years. I’ve been able to stay profitable for all these years, and hopefully for a very long time.

I’ve reduced my trading stake due to the lack of certainty we’re having right now. I’ve already reinvested quite a significant proportion of my profits into a new business venture.

So far, for the past few months, my trading account has been advancing, but very very slowly. Snail pace.

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Can I still achieve what I plan to achieve by the time I’m 30?

Truly, the global financial crisis that we are facing right now is taking a toll on me.

My unit trust investment with Public Mutual is down around 35%, and my CFD trading activities is crippling. I’m still making money with CFD but my bank balance is advancing very very slowly. One day I’m up a few hundred dollars and the next day, I’m down a few hundred dollars. I made a loss last quarter but it’s getting better this quarter (I hope). Whatever it is, my trading performance is beating my unit trust investment performance but of course, I can’t be comparing them two. It’s like comparing apples and oranges.

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Third and Final Update of Public Asia Ittikal’s (PAIF) Syariah Compliancy Issue

Thanks to Jean Chai, the age-long issue being discussed (or lack thereof), has been solved.

Jean Chai has brought the matter up to Public Mutual’s ranks and their response has put the issue to rest.

[Read more…]

Folks, I’m not in any way related to Permodalan Nasional Berhad (PNB)!

I need to make it clear that I am in no way related to Permodalan Nasional Berhad (PNB). In fact, I don’t have any relations whatsoever with any other financial institutions in Malaysia, apart from being an investor.

[Read more…]

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