Technology has changed the way stocks investors and traders buy-sell stocks. Those who used to trade through remisier are now trading through online platform or mobile apps provided by stockbroking firm. Now, we find this should be the way tradings be done - fast, cheap, at our control, transparent etc.
The another industry that is tightly related to stocks investing - unit trust industry - will see the same changes as well? We already have, in our market, Fundsupermart from iFast; and eUnitTrust from Phillip Mutual. Both has ventured into this sector for quite some time.
Both of those online platform offers unit trusts from multi-fund houses at competitive rates. Almost all fund houses let both platform to carry their products. In a single platform an investors find himself flooded with more than 100 funds to choose. And the service charge can be as low as 1%~2% or even goes to 0% during promotion time. I personally invest through online platform because of those two reasons. And I come across investors who switch to online investing because of same exact reasons.
Since going online, switching funds in between different fund houses is easy. I can switch anytime based on situation. I would choose the leader of a fund category. Like the recent Malaysia market and ringgit slump, I switched to oversea equity and bond funds and managed to benefited from foreign currency's appreciation.
My biggest problem, initially, was the vast variety of funds. This still remains so to a certain extent. This happened because I was suddenly exposed to many funds. I did not know which to go. I took me some time to slowly learn through fund commentaries, fund fact sheet and market outlook talks. Market outlook talks are the best place to talk to fund house representatives. Make use of Q&A sessions to ask.
Online banking is my another weak point. I am afraid of power failure, halfway through, because my laptop's battery has RIP. Otherwise, it is quite hassle free to make payment or withdrawal through FPX. And many popular banks are available.
Online unit trust has changed the way I invest. It saves me time and costs. Seeing the investment to show instant result without needing to wait to cover service charge is exciting.
Since going online, switching funds in between different fund houses is easy. I can switch anytime based on situation. I would choose the leader of a fund category. Like the recent Malaysia market and ringgit slump, I switched to oversea equity and bond funds and managed to benefited from foreign currency's appreciation.
My biggest problem, initially, was the vast variety of funds. This still remains so to a certain extent. This happened because I was suddenly exposed to many funds. I did not know which to go. I took me some time to slowly learn through fund commentaries, fund fact sheet and market outlook talks. Market outlook talks are the best place to talk to fund house representatives. Make use of Q&A sessions to ask.
Online banking is my another weak point. I am afraid of power failure, halfway through, because my laptop's battery has RIP. Otherwise, it is quite hassle free to make payment or withdrawal through FPX. And many popular banks are available.
Online unit trust has changed the way I invest. It saves me time and costs. Seeing the investment to show instant result without needing to wait to cover service charge is exciting.
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