I FIND the letter from Hasan Mohamed, the deputy chief executive, Treasury & Corporate Support, Bank Simpanan Nasional ("Dividends of 34 sen a unit were paid out" -- NST, June 9), most amusing.
A dividend of 34 sen from 1995 to last year is peanuts. What is more tragic is that the principal sum of RM1 has shrunk to less than 50 per cent.
I would be richer had I slept with the money in the entire investment duration. I wonder if there is any corporate responsibility on the part of those managing schemes where government support is certain.
Certainly, the fund manager must ensure a certain amount of safety net to reduce the risks of the investment.
We have always been persuaded to take part in unit trust investment because we were given the impression that they carried less risk and were handled by professional fund managers on a long-term basis.
However, Hasan's advice was, and I quote: "Investors are encouraged to buy, sell or switch to other funds to maximise the income distribution from the capital appreciation."
How much longer should an investor wait for any capital appreciation if, after 15 years, it has dropped to less than 50 per cent of the offered value?
K.S.L., Penang
letters@nst.com.my
- by nst.com.my
well said ksl of pg. tx. you speak my mind. couldnt agree more. i am selling out all (luckily only 1k) soon if not tomorrow. 50% gone and beware-very troublesome to cash out.
ReplyDeletei am also a victim of Amanah Saham BSN in year 1996 and my money (Initial investment) RM20k will become RM12k if want to sell them now. What the FXXK, if i had invested in share market with buying the finance shares, i get more than 10X return !
DeleteIs this mean the fund tipu orang since launching at year 1995 until 2012 ?