Private Retirement Scheme (PRS) is the talk of the town right now. Hwang is the first to launch its PRS funds, and I’ve read its prospectus. In this post, I’ve distilled the most important things you should know about any PRS fund, presented to you in this 15 min video. Note that I am not a PRS consultant, and certainly not tied to any of the PRS provider. Therefore, see if this makes sense to you, else please take my words with a pinch of salt.
To summarize the points I am discussing here:
- Structure of PRS funds (core and/or feeder)
- Check track record of funds if it is a feeder fund structure
- Check the fund manager’s experience
- Check the withdrawal frequency
- Check the withdrawal penalty
- Sales charge, redemption charge, intra-switching fees, inter-switching and processing fees
- Different Management fees for growth, moderate and conservative funds
- Trustee fees
- How this compares to your typical unit trust funds
*Thanks to one of my subscriber, TY for sending me this prospectus in this first place.
Incidentally, you can attend retirement and PRS workshop conducted by Fin Freedom, a leading independent financial advisory firm based in Penang. If you are in Penang, do drop by at their office at D’Piazza Mall, Bayan Baru for the FREE workshop if you bring along 2 friends as a group.
Register before 9 Nov noon for 10 Nov session, and before 16 Nov for 17 Nov session.
More Details below.