Another Online Unit Trust Portal In Malaysia

After only a few weeks of the launched of FundSupermart in Malaysia, PhillipCapital has introduced another online unit trust portal for Malaysians called eUnitTrust. Lets do a quick comparison between the two…

1. Funds selection
Verdict: eUnitTrust represents more funds than FundSupermart.

2. Information
Verdict: Both offer comprehensive unit trust investments, market outlook & funds information. But eUnitTrust edges ahead as it has more reports from the more fund house it represents.

3. Fees
Verdict: Both are winners as they offer 2% sales charges for all equity funds represented, much lower tthan the 5 - 6% traditionally charged.

4. Community
Verdict: FundSupermart is the winner here as it has an active forum where you can discuss and share ideas with fellow-minded investors.

5. Cash Management Funds
Verdict: FundSupermart offers a special Cash Management Fund that pays investors about 3% interest. Buying & selling of unit trust funds can be linked to this account which makes it very convenient compared to eUnittrust where you have to make payment via bank deposit or telegraphic transfer when buying.

So which is better? I suggest you check both out as things would surely improve for both. FundSupermart will definitely expand their funds offerings and eUnitTrust is likely to improve the community feature on the web and also introduce more convenient payment options like online payment.

This is a setback for TuneMoney as many had expected them to be the first to launch an online unit trust portal in Malaysia. And this is also bad news for all the unit trust agents out there…there would be more pressure for the sales charges to come down (which also means lower commission for them) and they would be losing some clients, especially the younger internet savvy ones…time for a career change?