November 5, 2012

HwangIM PRS Funds Explained

HwangIM PRS SolutionsHwangIM is the first panel member that launch Private Retirement Scheme (PRS) to the public in Malaysia. Hwang PRS Solutions, comprising four funds based on contributors' risk appetite and needs, are targeting guided annual return of between five per cent and 11 per cent. At launch time, three core funds, namely Hwang PRS Growth Fund, Hwang PRS Moderate Fund and Hwang PRS Conservative Fund. The fourth non-core fund, Hwang AIIMAN PRS Syariah Growth Fund will be launched at a later date.

Hwang PRS Growth Fund is targeting those investors below age of 40 years old or have high risk profile, while for Hwang PRS Moderate Fund is a balanced fund targeting those investors between the age of 40 - 50 years old or have moderate risk profile. Hwang PRS Conservative Fund is a fixed income fund with a small portion of equity investment, is meant for those over 50 years old or have low risk profile. Hwang AIIMAN PRS Syariah Growth Fund is a feeder fund for existing HwangIM fund, Hwang AIIMAN Syariah Growth Fund.

The unique feature for Hwang PRS Solutions is that there will not be any up front sales charge. That means all the money invested will be used for buying units. There is also no switching fees between PRS funds and no redemption charge as well. Another positive point for Hwang PRS Solution is that the annual management and trustee fees are on par with the usual unit trust funds.

However, there are some fees involved when an investor invest in PRS funds. Most of the fees involved are being paid to Private Pension Administrator (PPA), the body that administrate the whole PRS schemes. Some of the fees to be paid are account opening fee, pre-retirement withdrawal fee, fund transfer fee (to another PRS provider) etc.   Below is the summary of Hwang PRS Solutions funds information:

Note: If you need to open the spreadsheet in another tab, click here.

You can get the official information about HwangIM PRS funds from this link.

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