Ignore this post if you're not interested in Public Mutual funds (biggest unit trust company in Malaysia)
You may or may not have heard of it. There is a thing called “Mutual Gold” membership from Public Mutual. You will get this status when you have invested at least RM 100K investment in any of the load funds (i.e. funds that have sale charges). For example, investing in no-load funds (e.g. bond or fixed income fund) is not eligible for this Mutual Gold membership.
By the way, I got this status 2 months ago! :) This is how the package looks like:
It is calculated based on the Mutual Gold Qualifying Points (MGQP). Basically RM 1 of investment is equivalent to 1 MGQP points. You probably haven’t realized, this MGQP is also stated in your investment statement too.
(1) If I’m the second holder of the fund, am I qualified for MGQP?
No. You must be the first holder of the fund to be qualified for MGQP. That also means that you should NOT simply switch to second holder especially you invest together with your spouse.
(2) What are the benefits of being Mutual Gold member?
Well, you can just check it out from the public mutual website here.
(3) If my fund’s NAV drops, will be my MGQP reduced too?
No, it won’t. It will be reduced if you sell your fund or switch to no-load fund (e.g. bond or fixed income fund).
(4) Will my MGQP increase if the NAV goes up?
No too. The capital gain from your investment will not be considered for MGQP. For example, your invest RM1K after 1 year, your balance become RM1.5K, your MGQP will still remain at 1000 points.
(5) Which benefits of Mutual Gold that you find most useful?
For me, I particularly like the following benefits of becoming the Mutual Gold member (well probably you have different list):
- Free personal accident insurance (Well, this is free insurance. Why not?)
- Quarterly statement of accounts (Hope it at least provides more information than what I can get online)
- Free switching fees - 18 switches per annual (No more excuse that I shouldn't switch to optimize my investment)
- Email update for quarterly fund review (Not sure how useful this is, have to check it out)
- Free will writing service (Cool, this is usually NOT free service)
p/s: Well, wish you will get your mutual gold member soon if you're public mutual investor. The next thing is the Mutual Gold Elite which required 500K MGQP(points).