FAQs for Manulife Asset Management Services Berhad Funds (Unit Trust)


FAQs for PRS


 

 

FAQs for Manulife Asset Management Services Berhad Funds (Unit Trust)

 

NON-EPF INVESTMENT - INDIVIDUAL

 

Q1 

Who can invest?
Individuals aged 18 and above on their last birthday.

Q2 •

Can an account have more than one unit holder?
Yes, but only limited to one joint holder.

Q3 

Are there any circumstances in which an individual is not allowed to invest?
Yes, a minor below 18 years old. He / she must invest as a designated account holder together with a first holder who is 18 years old or above.

Q4 

If the Joint Holder is below 18, must the Joint Holder sign on the investment form?
No.

Q5 •

What will happen if the unit holder's cheque payment is dishonoured/ cancelled?
The company will notify the unit holder and his/her UT Adviser and the investment will be reversed and cancelled accordingly.

Q6 •

What are the documents required for investment?
A first time investor is required to submit a duly completed Account Opening Form, a photocopy of NRIC, a Pre-Investment Form, a Suitability Assessment (SA) Form and a Consent On Personal Data And Privacy Form.
 
For subsequent investment in a new fund, the investor is required to submit a duly signed Additional Investment Slip.
 
While for an additional investment in an existing fund, only Additional Investment Slip (need not be signed) is to be submitted.
 
Effective 1/9/2013, all new and existing investors who are investing for the first time (including switching) into Manulife Investment U.S. Equity Fund (MUS) are required to submit his/ her Identity Card (NRIC) certified by a Notary Public or Commissioner for Oaths. It applies to both main and joint holders for joint account.

Q7 •

How does an individual invest in MAMSB?
The prospective investor may contact our Customer Service Hotline at 03-2719 9228 / 1300-13-2323 or visit the nearest MAMSB branch offices.

Q8 

How to make payment for investment with MAMSB?
Payment may be made through MAMSB Branch Offices / Service Centres as indicated in the Prospectuses.
 
Cheques, bank drafts or cashiers orders should be made payable to "MANULIFE ASSET MANAGEMENT SERVICES BERHAD" and crossed "ACCOUNT PAYEE ONLY". Please write your name, new NRIC/Passport number and telephone number at the back of all cheques, bank drafts or cashiers orders.
 
Cheques, bank drafts or cashiers orders payable to the Company must be issued or purchased by the respective unit holder(s). For bank drafts or cashiers orders, a copy of the Remittance Application Form must be submitted together with the required investment documents.
 
A unit holder can issue one cheque for multiple funds and multiple accounts.

Q9 

What is the minimum and maximum amount to invest?
Investors are advised to read and understand the Master Prospectus and the respective Product Highlights Sheet(s) for minimum transaction amount.

There is no maximum limit to invest, however, any investment amount in excess of 10% of the fund size would require the approval of MAMSB's senior management.

Q10 

Where can a unit holder find information regarding MAMSB Funds?
Visit our website at www.manulifeinvestment.com.my to view our fund prospectuses or contact our Customer Service Hotline at 03-2719 9228 / 1300-13-2323.

Q11 

Can a unit holder invest via online payment?
Yes. If he/she is an existing MAMSB unit holder , he/she can invest via Maybank www.maybank2u.com.my or www.rhb.com.my or FPX OCBC.

Q12 

What is the cut-off time for investment?
The cut-off time for submission of investment on any Business Day, is 3.00pm over the service counter, 4.00pm for online payment and 11.30am on a Bursa Malaysia half day trading day.

Q13 

Is there any free insurance provided?
Yes. Applicable only to Manulife Investment Growth Fund with a minimum Net Asset Value (NAV) of RM10,000.00.

Q14 

Can a unit holder nominate a beneficiary for the Free Insurance?
Yes. He/ She is required to complete the "Beneficiary Column" of the Account Opening Form or Unit Holder Record Maintenance Form for an existing investor.

Q15 

How are the units of my investment determined?
Units would be created on the NAV per unit at the end of the Business Day on which the requests for purchase are received or deemed to have been received by the Manager at or before 3.00pm (4.00pm for online payment) and 11.30am on a Bursa Malaysia half day trading day. Any application received after the cut-off time would be considered as being transacted on the next Business Day.


 

EPF INVESTMENT

 

Q1 

Who is eligible to invest in the EPF Members' Investment Scheme?
To be eligible, he/she must be below 55 years old. Please refer to www.kwsp.gov.my for more information.

Q2 

What are the documents required for investing in the EPF Members Investment Scheme?
A completed Account Opening Form or Additional Investment Slip, KWSP 9N (AHL) Form, a certified true copy of MyKad (front and back on the same page of an A4-sized paper). A first time investor is required to complete a Pre-Investment Form, a Suitability Assessment (SA) Form and a Consent On Personal Data And Privacy Form.

Q3 

How often can a unit holder make a withdrawal from his/her EPF account for investment in unit trust?
Once every 3 months.

Q4 •

What is the investment amount?
The amount to be withdrawn must not be less than RM1,000 and not more than 20 per cent of the amount exceeding the required Basic Savings in Account 1. Refer www.kwsp.gov.my for more information.

Q5 

Can an account have more than one unit holder?
No.

Q6 

What will happen if the investment is rejected by EPF?
The company will notify the unit holder and his/her UT Adviser and the investment will be reversed and cancelled accordingly.

Q7 

What are the documents issued to the unit holder once an investment has been made?
A Transaction Statement.

Q8 

Can a unit holder who has lost his two (2) hands invest?
Yes. He/ She can provide a toe print.

Q9 

How are the units of my investment determined?
Units would be created on the NAV per unit at the end of the Business Day on which the requests for purchase are received or deemed to have been received by the Manager at or before 3.00pm and 11.30am on a Bursa Malaysia half day trading day. Any application received after the cut-off time would be considered as being transacted on the next Business Day.

Q10 

Can a unit holder switch units into another fund or redeem the units before EPF disburses the payment to MAMSB?
No. Before EPF disburses the payment to MAMSB, the investment is considered as "Float" units. These units cannot be redeemed or switched into another fund. After EPF disburses the payment to MAMSB, the investment is considered as confirmed units and these units can then be redeemed or switched into another fund.

Q11 

Can a unit holder transfer his/her EPF account to another person?
No.

Q12 

What can a unit holder do if he/ she has damaged ridges on both thumbs / disfigured thumbs or has had both thumbs amputated?
Unit holder may submit a photocopy of duly verified Borang JPN KP12 which can be obtained from Jabatan Pendaftaran Negara (JPN). The KWSP 9N (AHL) Form, a certified true copy of MyKad and the Borang JPN KP12 will be forwarded to EPF for processing.

Q13 

How long will EPF take to process such cases as in scenario Q12?
EPF will take 1 – 2 weeks to process such cases.


 

TERMINATION OF EPF MEMBERS INVESTMENT SCHEME

 

Q1 

Must a unit holder inform EPF when he/she reaches 55 years old?
No.

Q2 

What will happen to the unit holder's account if he/she passes away?
The next of kin of the unit holder needs to inform the EPF that the unit holder has passed away. EPF will then send a release control letter to MAMSB. After the account has been transferred to a non-EPF account, the beneficiary may apply to transfer or repurchase the units from the deceased unit holder's account by submitting relevant documents such as Letter of Administration or Grant of Probate.

Q3 

What is the release control letter for?
The purpose of the release control letter, issued by EPF, is for EPF to relinquish control of the Member's EPF investment to MAMSB. Thereafter, the unit holder has the right to repurchase the units (the cheque is made payable to his name) or transfer the units to a third party.

Q4

If the unit holder reaches 55 years old and continues to contribute to EPF, can he/she invest under the EPF Scheme?
No.

Q5 

Will the unit holder be informed of the status of his/ her account after EPF has released its control to MAMSB?
Yes. A letter will be sent to the unit holder after the account has been converted to a Non-EPF account.


 

CORPORATE INVESTMENT

 

Q1 

Who is eligible to invest?
Any corporation, society, association, government and non-government body that is registered in Malaysia.

Q2 

What are the requirements for a Corporate Investment?
The corporation must submit a copy of the Memorandum and Articles of Association and the Board Of Directors' Resolution to the Manager and other documents that are required for reference.
 
Effective 1/9/2013, all new and existing investors who are investing for the first time into Manulife Investment U.S. Equity Fund (MUS) are required to submit the following documents certified by a Notary Public or Commissioner for Oaths :

1. Certificate of Incorporation / Registration.
2. Identity Card (NRIC) of authorized persons in opening and operating the account.

Q3 

What are the documents required for Corporate Investment?
A first time investor is required to submit a duly completed Account Opening Form and Suitability Assessment (SA) Form with the respective corporate documents:
 
Society / Association - Cert. of Registration & Committee Resolution 
Company (Malaysian) - Form 9, Form 49 & Board Resolution 
Company (Foreign) - Form 13, Form 49 & Board Resolution 
Government Body - Board Resolution 
Cooperative - Cert. Of Registration & Committee Resolution 
Pension Fund - Trustee's Resolution 
Partnership - Cert. of Registration & Committee Resolution 
Sole-Proprietor - Business Registration

For subsequent investment in a new fund, the investor is required to submit a duly signed Additional Investment Slip.
 
While for an additional investment in an existing fund, only Additional Investment Slip (need not be signed) is to be submitted.

Q4 

Are different group signatories with different transaction request allowed?
Yes. Provided it is stated in the Board of Directors’ Resolution to the Manager.


 

COOLING-OFF PERIOD

 

Q1 

Is an individual investor allowed to exercise cooling-off rights?
Yes, however, the cooling-off period is only applicable to any person investing for the first time in any unit trust funds managed by MAMSB and it excludes corporations / institutions, staff of MAMSB and persons registered to deal in unit trusts. Unit holders have the right, within six (6) Business Days of the receipt by MAMSB of their application for units, to call for a withdrawal of their investment.
 
However, for EPF investments' investors are not entitled to cooling-off rights.

Q2 

Are corporate investors allowed to exercise cooling-off rights?
No.

Q3 

What is the procedure to exercise cooling-off rights?
The request to exercise your cooling-off rights must be submitted to any MAMSB branch offices or service centres or head office within six (6) business days commencing from the date of purchase. MAMSB will refund the applicant within ten (10) calendar days upon receipt of the cooling-off notice.


 

REPURCHASE OF UNITS

 

Q1 

What are the documents required for repurchase of units?
A completed Repurchase Form.

Q2 

Where can a unit holder submit the repurchase request?
Any MAMSB branch offices or service centres or head office.

Q3 

Can a unit holder book the repurchase price?
No.

Q4 

Can a unit holder request for the repurchase cheque to be made payable to a third party?
No.

Q5 

What are the conditions for a partial repurchase?
Investors are advised to read and understand the Master Prospectus and the respective Product Highlights Sheet(s) for minimum transaction units and the minimum holding of the fund.

Q6 

For repurchase of units, can a unit holder request for cash payment?
No.

Q7 

How long does MAMSB take to issue the repurchase cheque?
For MPC unit holders, it is company policy that the repurchase cheque be issued within 2 calendar days (provided the following is a business day) from the date of receipt of the duly completed repurchase documents.
 
For non-MPC unit holders, it is company policy that the repurchase cheque be issued within 7 calendar days from the date of receipt of the duly completed repurchase documents.
 
However, the industry practice is 10 calendar days from the date of receipt of the duly completed repurchase documents to issue the repurchase cheques.

Q8 

Can a unit holder request for the repurchase cheque to be banked in?
Yes but only into Maybank or RHB, unless he/ she is a MPC member.

Q9 

Are there any administrative charges for repurchase?
No. However, for special request to dispatch the repurchase cheque by courier or registered mail, the courier or registered mail charges will be borne by the unit holder and will be deducted from the repurchase proceeds accordingly.

Q10 

What is the price used for computation of repurchase?
The repurchase amount will be based on the NAV per unit at the end of the Business Day on which the requests for repurchase are received or deemed to have been received by the Manager at or before 3.00pm and 11.30am on a Bursa Malaysia half day trading day. Any request received after this cut-off time would be considered as being transacted on the next Business Day.

Q11 

What shall the unit holder do if he / she requests for a full repurchase of the investment which has a monthly Standing Instruction?
The unit holder can enclose a "Regular Investment Amendment (RIA) Form" upon submission of a repurchase request. The monthly standing instruction will then be cancelled.


 

SWITCHING OF FUND

 

Q1 

What is switching of fund?
Switching of fund is a facility which enables a unit holder to convert units of a particular fund for the units of other funds managed by MAMSB.

Q2 

Are there any administrative charges for switching of funds?
Yes. RM25 per transaction (deducted from the switching amount) except for :
a. The first 6 switching transactions in a calendar year.
b. MPC unit holders.
c. Monthly Switching Instruction.
d. Switching at NAV Price with sales charge.
e. Switching out from Manulife Investment Asia-Pacific REIT Fund within 30 calendar days of purchase which has a 1% exit fee.
f. Switching out from Manulife Investment-HW Shariah Flexi Fund within 90 calendar days of purchase which has a 1% exit fee.

Q3 

What is the price used for computation of switching of fund?
The switching amount will be based on the NAV per unit at the end of the Business Day on which the requests for switching are received or deemed to have been received by the Manager at or before 3.00pm and 11.30am on a Bursa Malaysia half day trading day. Any request received after this cut-off time would be considered as being transacted on the next Business Day.

Q4 

What are the documents required for switching of fund?
A completed Switching Form.
 
For switching request into a new fund, a Suitability Assessment (SA) Form is required if you have not completed one previously.

Q5 

What are the conditions for partial switching of fund?
Investors are advised to read and understand the Master Prospectus and the respective Product Highlights Sheet(s) for minimum transaction units / amount and the minimum holding of the fund.

If the switching is made to an initial (new) fund, the net amount switched after deduction of sales charge (if any) must meet the minimum requirement of the fund's initial investment amount.

Q6 

What shall the unit holder do if he / she requests for a full switching from Fund A to Fund B and the Fund A has a monthly Standing Instruction?
The unit holder can enclose a “Regular Investment Amendment (RIA) Form” upon submission of his/her switching request. The monthly standing instruction will be credited into the new fund (switched to new fund).


 

ONLINE SWITCHING

 

Q1 

What is online switching of fund?
Online Switching of fund is an online facility which enables a unit holder to convert units of a particular fund for the units of any other fund managed by MAMSB.

Q2 

What is the price used for computation of switching of fund?
The switching amount will be based on the NAV per unit at the end of the Business Day on which the requests for switching are received or deemed to have been received by the Manager at or before 4.00pm and 11.30am on a Bursa Malaysia half day trading day. Any request received after this cut-off time would be considered as being transacted on the next Business Day.

Q3 

What are the conditions for partial switching of fund?
Investors are advised to read and understand the Master Prospectus and the respective Product Highlights Sheet(s) for minimum transaction units / amount and the minimum holding of the fund.

Q4 

What are the conditions for switching into a new fund?
If the Switching request is made to an initial (new) investment, the net amount switched after deduction of sales charge (if any) must meet the minimum initial investment required by the switch-to fund.
 
A Suitability Assessment (SA) Form is required if you have not completed one previously.

Q5 

Can I switch from multiple funds?
Yes. Please submit one request for each fund. For example, if you switch from three different funds, you need to submit three requests.

Q6 

Can I switch from a single fund to multiple funds?
Yes. Investor is allowed to switch from one fund to a maximum of five funds but adviser is allowed to switch from one fund to a maximum of three funds.

Q7 

Are there any administrative charges for switching of funds?
Yes. There is an administrative charge of RM15 per request (deducted from the switching amount) except for :
a. The first 6 switching transactions in a calendar year
b. MPC unitholders
c. Switching at NAV Price with sales charge
d. Switching out from Manulife Investment Asia-Pacific REIT Fund within 30 calendar days of purchase which has a 1% exit fee
e. Switching out from Manulife Investment-HW Shariah Flexi Fund within 90 calendar days of purchase which has a 1% exit fee


 

MONTHLY SWITCHING INSTRUCTION (MSI)

 

Q1 

What is Monthly Switching Instruction?
Monthly Switching Instruction is a facility for an existing unit holder who wish to switch from one fund to another on a regular basis.

Q2 

What are the terms and conditions for Monthly Switching Instruction?
The unit holder(s) and the UT Adviser of the "switched from" and "switched to" fund must be within the same account. All applications must be submitted to MAMSB by the 5th of the month. Otherwise, it will be considered as the following month's request.

Q3 

What is the minimum number of units for Monthly Switching Instruction?
The minimum number of units for each MSI is 100 units.

Q4 

Are there any administrative charges for Monthly Switching Instruction?
No.

Q5 

When does Monthly Switching Instruction commence?
The Switching date is on the 15th day of each month. If the 15th of the month falls on a non-business day, the price will be based on the valuation determined at the end of the next Bursa Malaysia business day.

Q6 

Can a unit holder request to increase, decrease, change funds or cancel Monthly Switching Instruction?
A unit holder may request to increase, decrease, change funds or cancel Monthly Switching Instruction by completing a Monthly Switching Instruction (MSI) Form.
 
For request to change funds or to switch into new funds, a Suitability Assessment (SA) Form is required if the unit holder has not completed one previously.

Q7 

What will happen if a unit holder's fund portfolio does not have sufficient units for Monthly Switching?
In the event of insufficient units in a unit holder's fund portfolio, the Monthly Switching will not be effected for the month concerned. Subsequent monthly Switching Instruction will only be effected when there are sufficient units in the unit holder's fund portfolio.

Q8 

Do I need to inform MAMSB if I wish to cancel/increase/decrease my Monthly Switching Instruction?
Yes, you are advised to inform MAMSB in writing, in the event you wish to cancel/increase/decrease your Monthly Switching Instruction. However, the Fund Managers reserve the right to terminate your Monthly Switching Instruction for payments that are unsuccessful for three (3) consecutive months.


 

TRANSFER OF UNITS

 

Q1 

Who is a transferor?
The person transferring the units.

Q2 

Who is a transferee?
The person to whom the units of investment are transferred to and must be related to the transferor.

Q3 

What are the documents required for full / partial transfer of units?
A completed Transfer Form, a photocopy of NRIC of transferor and transferee, documentations to support relationship, an Account Opening Form, a Pre-Investment (PI) Form and a Consent On Personal Data And Privacy Form if the transferee is a first time investor of MAMSB.

Q4 

Is it compulsory that the transferor's signature in the "Transfer Form" be the same as the one in MAMSB's records?
Yes.

Q5 

What is the minimum number of units for transfer?
Investors are advised to read and understand the Master Prospectus and the respective Product Highlights Sheet(s) for minimum transaction units.

Q6 

What is the required minimum balance of units after a partial transfer of units?
Investors are advised to read and understand the Master Prospectus and the respective Product Highlights Sheet(s) for minimum holding of the fund.

Q7 

Are there any administrative charges for transfer of units?
A RM3.00 charge will be deducted from the transfer. This charge is waived for transfer of units for a deceased unit holder and for MPC unit holders.

Q8 

Can a unit holder transfer his / her units to another fund in another account?
No. Transfer must be made within the same fund in different accounts.

Q9 

What are the documents required for transfer of units for a deceased unit holder?
A Transaction Request Form for Deceased Account, a copy of Letter of Administration or Grant of Probate, photocopy of NRIC of beneficiary(s), an Account Opening Form, a Pre-Investment (PI) Form and a Consent On Personal Data And Privacy Form if the beneficiary(s) is a first time investor of MAMSB.


 

AMENDMENT OF ACCOUNT HOLDER'S PARTICULARS

 

Q1 

How can a unit holder update the company if he/ she has changes in Account Holder's Particulars?
A unit holder may write to us or complete the Unit Holder Record Maintenance Form and submit the form to any MAMSB branch offices or service centres.

Q2 

What are the documents required to be enclosed for change of particulars?
A unit holder is required to enclose a clear photocopy of his/ her NRIC, Passport or Birth Certificate if he/she wishes to update his/her Name, Old/ New NRIC Number and Birth Certificate Number. For other amendments, photocopies of the above mentioned documents are not required.

Q3 

Can a unit holder request for a change of signature? How does he/ she update the company?
Yes. A unit holder is required to complete the Unit Holder Record Maintenance Form and witnessed by any MAMSB staff.

Q4 

Who can authorise a change of signature in the case of a joint account?
For change of signature(s) in the case of joint account, both holders must sign the Unit Holder Record Maintenance Form and witnessed by any MAMSB staff.

Q5 

Can a unit holder request to change the Authority to operate the account in the case of a joint account?
Yes. Both holders must sign for a request to change the Authority to operate an account by completing the Unit Holder Record Maintenance Form.

Q6 

Can a unit holder nominate an insurance beneficiary for his/her free insurance and how does he/she update the company?
A unit holder may complete the Unit Holder Record Maintenance Form and submit the form to any MAMSB branch offices or service centres.

Q7 

Can a unit holder request to change the free insurance beneficiary(s)?
Yes. However, only the Principal Holder may request for change of the beneficiary(s) by submitting a Unit Holder Record Maintenance Form to any MAMSB branch offices or service centres.


 

AUTODEBIT

 
Maybank

Q1 

What is the procedure for submission of Autodebit Form?
The Autodebit Form must be completed and duly signed by the Bank Account Holder(s). The signature(s) on the Autodebit Form must be the same as the specimen signature(s) in the Bank's record.

Q2 

What are the documents required to be enclosed?
A copy of the Bank Passbook / Statement to be enclosed for verification.

Q3 

Can a unit holder submit directly to the banks?
Yes. However, a unit holder may only submit to Autodebit Centre, Maybank Head Office.

Q4 

What is the minimum Autodebit amount?
Investors are advised to read and understand the Master Prospectus and the respective Product Highlights Sheet(s) for minimum transaction units / amount and the minimum holding of the fund.

Q5 

When is the effective date for deduction?
The effective date is on the 28th day of each month. If the 28th of the month falls on a non-business day, the price will be based on the valuation determined at the end of the next Bursa Malaysia business day.

Q6 

When does MAMSB process Autodebit payment?
The Autodebit payment will be processed on the following Business day after the Autodebit effective date.

Q7 

Are there any administrative charges for Autodebit?
Yes. RM1.00 per transaction will be deducted from the unit holder's account for total deduction below RM500.00.

Q8 

Can a unit holder request to increase, decrease, change funds or cancel Autodebit?
A unit holder may request to increase, decrease, change funds or cancel Autodebit by submitting the "Regular Investment Amendment (RIA) Form" or a Letter of consent to either MAMSB or Autodebit Centre, Maybank Head Office at least 14 days before the next investment due date.
 
Suitability Assessment Form (SA) is not required for a unit holder who wishes to change existing instruction to invest into existing funds. However, in the event the unit holder wishes to change existing instruction to invest into new funds, then Suitability Assessment Form (SA) is required if he/ she has not completed one before.
 
However, the Fund Manager reserves the right to terminate your Autodebit request for payments that are unsuccessful for three (3) consecutive months.

Q9 

Who can a unit holder call if the Autodebit Instruction is not effected?
The unit holder may contact Autodebit Centre, Maybank Head Office at 03-2070 8833 ext. 4632/ 3343 or MAMSB Customer Service Hotline at 03-2719 9228 / 1300-13-2323 or visit any MAMSB branch offices.

Q10 

Can a unit holder request to increase the existing Autodebit amount if the Fund has been closed?
No.

Q11 

Can a unit holder have more than one (1) Autodebit for the same account from the same bank account?
No.

Q12 

Can a unit holder have more than one (1) Autodebit for the same account from a different Maybank bank account?
No.


 

FINANCIAL PROCESS EXCHANGE (FPX) COLLECTION APPLICATION

 

Q1 

What are the charges applicable for utilizing the FPX service?
A minimum charge of RM1.50 will be imposed if your FPX investment amount in total is below RM500.00. No charges will be levied if your FPX investment amount in total is RM500.00 and above.

Q2 

How long does it take before the FPX comes into effect?
The FPX direct debit service will commence 21 days from the submission date of forms to the beneficiary bank.

Q3 

What are the standard transaction dates available for FPX?
The standard transaction date available for the FPX Service will be either on the 10th or 28th of each calendar month.

Q4 

What will be the crediting date of the transaction if the 10th or 28th of a month falls on a non-business day?
If the deduction date falls on a non-business day, the units credited will be calculated at the end of the following business day.

Q5 

Do I need to inform MAMSB if I wish to increase, decrease, change funds or cancel my FPX request?
Yes, you are advised to inform MAMSB in writing or submitting the "Regular Investment Amendment (RIA) Form", in the event you wish to increase, decrease, cancel the regular investment amount.
 
Suitability Assessment Form (SA) is not required for a unit holder who wishes to change existing instruction to invest into existing funds. However, in the event the unit holder wishes to change existing instruction to invest into new funds, then Suitability Assessment Form (SA) is required if he/ she has not completed one before.
 
However, the Fund Manager reserves the right to terminate your FPX request for payments that are unsuccessful for three (3) consecutive months.

Q6 

Can I opt to cancel my FPX request at participating banks?
No, the unit holder can only cancel his/ her FPX standing instruction via MAMSB in writing at least 14 days before the next investment due date.

Q7 

Do I need to submit multiple FPX application forms to debit from a single bank account for different investment accounts at MAMSB?
No, you only need to submit one (1) duly signed FPX Application Form together with the 'FPX Deduction for Multiple Unitholders' Accounts Form’ (FPX-M).

Q8 

What is the preferred bank account type to be used for FPX facility?
The preferred bank account type is Current Account as the unit holder's signature can be verified online.

Q9 

Can I get my signature verified upfront by my bank?
Yes, provided that you present yourself at the bank for verification of signature. No representative is allowed.

Q10 

What are the participating banks for the FPX facility?
The participating banks are:
1. Bank Islam
2. CIMB
3. Citibank 
4. Deutsche Bank 
5. Hong Leong Bank 
6. HSBC 
7. MBB 
8. OCBC 
9. Public Bank
10. RHB
11. Standard & Chartered 
12. Bank Kerjasama Rakyat Malaysia Bhd 
13. Bank of America Merrill Lynch


 

FAQs For PRS

 

PRS

 

Q1 

What is PRS?
Private Retirement Scheme, in short PRS, is a voluntary long-term investment scheme. It was initiated by the Government, designed to help you accumulate savings for your retirement. Manulife PRS NESTEGG Series and Manulife Shariah PRS NESTEGG Series offer a choice of funds such as Growth, Moderate and Conservative which you can choose to invest based on your retirement needs, goals and risk appetite. The fund options under a PRS are intended to enhance long-term returns for members within a regulated framework. Assets of each PRS are segregated from the PRS Providers and held by an independent Scheme Trustee under a trust.

Q2 

Who is eligible?
If you are 18 years old and above, you are eligible to contribute to PRS. PRS is offered to Malaysians and non-Malaysians as well.

Q3 

Can I open my PRS account jointly with my partner or parents?
PRS only allows individual accounts. Therefore, no joint accounts are allowed.

Q4 

Can I withdraw from my EPF to contribute to the PRS?
The PRS is a supplementary form of retirement savings in addition to the EPF. It is voluntary in nature. Members are not permitted by law to withdraw from EPF to contribute to the PRS.

Q5 

What is the PRS Scheme Structure like?
Contributions to any fund(s) under the PRS will be maintained in two separate sub-accounts by the PRS Providers as follows:

  • 70% in sub-account A which is not made available for pre-retirement withdrawal
  • 30% in sub-account B which would be available for pre-retirement withdrawal once a year subject to an 8% tax penalty on the withdrawal sum

Q6 

Are there tax benefits for PRS contributions?
You may obtain a tax relief of up to RM3,000 every year, for your contributions made to PRS starting from 2012 until 2021. You can claim your individual tax relief based on gross amount invested. Keep the contribution statements to support the claim for tax relief as proof of contributions made for the year of assessment.

For more information, you can visit the PPA website at www.ppa.my

Q7 

Can I withdraw from my PRS fund before I retire?
You may withdraw only from sub-account B, once a year after one year from the date of your first contribution. However, each withdrawal will incur 8% tax penalty based on your sum of withdrawal. The tax penalty is imposed by the tax authority to discourage contributors from withdrawing as the objective of PRS is to accumulate additional savings for retirement.

The remaining 70% in sub-account A can only be withdrawn when you reach retirement age, upon death or permanently departing from Malaysia, without any tax penalties.

Q8 

How can I check my PRS account holdings?
You can check your PRS account holdings through Manulife online portal at www.manulifeinvestment.com.my or the PPA website at www.ppa.my

Q9 

What is PRS youth incentive?
In the 2017 budget, the Government announced a one-off incentive of RM1,000 to all Malaysian youths aged 20 to 30 years old (have not reached the age of 31 at the time the minimum gross contribution amount of RM1,000 is made within the calendar year) who participate in the PRS Scheme from 2017 to 2018. This initiative is to inculcate the importance of saving from an early age to ensure sufficient savings after retirement.

Q10 

How can I qualify for this PRS youth incentive?
You are aged 20 to 30 years old (have not reached the age of 31 at the time the minimum gross contribution is made). You are required to contribute and accumulate a minimum gross contribution of RM1,000 within any calendar year between 2017 to 2018 in a single PRS fund of a Provider. Please note that employer contribution will not be eligible for this purpose. The incentive is NOT applicable to youth members who have already qualified in 2014 - 2016.

Q11 

How do I receive the RM1,000 incentive?
The one-off RM1,000 incentive will not be given directly to you. It will be credited into your PRS sub-account A of the qualified PRS fund. The number of units the Member would receive would depend on the NAV per unit of the PRS fund. Payment will be made on a bi-annual basis and PPA expects to receive and process the pay-out within 3 months from the cut off date of 30 June and 31 December. If you do not manage to accumulate a minimum gross amount of RM1,000 for that calendar year, provided you are still within the age limit, you will need to start all over again the following calendar year to accumulate a minimum gross contribution amount of RM1,000 in order to be entitled for the incentive.

Please note that the incentive is a one-time incentive. For more information, you can visit the PPA website at www.ppa.my

Q12 

Do I have to apply for the incentive?
You do not have to apply for the incentive. PPA will monitor the eligible accounts and compile a listing of those qualified and notify the Government of the individuals eligible for this incentive.

Q13 

Can anyone contribute to the PRS on my behalf?
Yes, anyone can contribute for you. However, contribution to the PRS must be done under your own PRS account.

Q14 

Is the performance of the PRS fund(s) guaranteed?
Returns of PRS funds are not guaranteed and it does not have any statutory minimum dividend policy. You are advised to read and understand the relevant Disclosure Documents and Product Highlights Sheet of the respective PRS funds. If in doubt, please consult our PRS licensed consultants.

Q15 

What kind of returns should I be expecting from my PRS fund(s)?
When you invest in PRS funds, you stand to benefit from a diversified portfolio of assets with just a minimal contribution amount. In addition, the overall risk is also minimized due to diversification within the fund. This would otherwise not be possible if you invest directly in the stock market.

You may also stand to benefit from ringgit cost averaging by investing in a disciplined manner over the long term period since the full contribution can only be withdrawn upon reaching retirement. With this method, you would not be affected as much by the market timing factor.

Although the underlying risks of investing in PRS funds may be higher, the overall risk position is minimized through its diversified portfolio.

Kindly take note that past performance is not indicative of future performance. You are advised to read and understand the relevant Disclosure Document and Product Highlights Sheet of respective PRS funds. If in doubt, please consult your PRS Licensed Consultant.

Q16 

Is my money safe in PRS?
PRS is regulated under a framework developed by the Securities Commission Malaysia. The PRS forms the 3rd pillar of Malaysia’s multi pillar pension framework and the right enabling environment is crucial for its success.

PPA is a body approved by Securities Commission Malaysia to oversee and promote the growth of the industry, create general awareness and educate the public on PRS as well as protect your interest as a contributor.

Each PRS Scheme is required to appoint an approved PRS scheme trustee to actively monitor the operation and management of the fund as well as to safeguard the assets of the Fund and act in the best interest of the members. The scheme trustee has fiduciary duty to ensure that the PRS providers comply with the scheme’s deed and disclosure document. In addition, the PRS Scheme trustee provides custodianship of the PRS fund’s assets.

Q17 

Why should I choose Manulife to manage my private retirement scheme?
Manulife is a leading Global Pension Funds Provider with more than 76 years of experience in managing pension funds globally. For more than 50 years, Malaysians have looked to Manulife for strong, reliable, trustworthy and forward thinking solutions to their financial needs. Manulife not only has experience in handling investment needs in Malaysia but also has locally based investment professionals in Canada, Hong Kong, China, Indonesia, Japan, Philippines, Singapore, Thailand, Taiwan, United Kingdom, United States, Vietnam, Australia, Uruguay, Brazil and New Zealand. This gives us an advantage in terms of extensive local knowledge and exceptional financial expertise.

Manulife Private Retirement Scheme offers various Conventional and Shariah funds for you to invest according to your retirement objective, goals and risk appetite.

Q18 

How can I sign up for a PRS account?
Speak to our PRS Licensed Consultant or contact our Customer Service at 03-2719 9228

FAQs for Manulife PRS NESTEGG Series Class C Units 

 

CLASS C UNITS FOR MANULIFE PRS NESTEGG SERIES

 

Q1 

What are Class C Units?
Class C Units are a new class of units introduced for the private retirement scheme funds of the Manulife PRS NESTEGG Series (“the Scheme”), which is a private retirement scheme operated by Manulife Asset Management Services Berhad (“the Provider”).

The following are the salient features of Class C Units:

Class C Units
Sales Charge Up to 3.00%* of NAV per Unit.
Redemption Charge The Provider does not intend to impose any Redemption Charge.
Transfer Fee 
(to another PRS Provider)
A transfer fee of RM25.00* will be imposed on a request to transfer to another private retirement scheme operated by another private retirement scheme provider.
Switching Fee
(between Funds of the Scheme or between a Fund of the Scheme and any other fund in another private retirement scheme operated by the Provider)

No switching fee will be imposed on the first 12 switching transactions made during a Calendar Year: 

1.    between the Funds of the Scheme within the same class of Units; or 

2.    between a Fund of the Scheme and any other fund in another private retirement scheme operated by the Provider within the same class of Units.  

A switching fee of RM25.00* will be imposed by the Provider on the Member for each subsequent switching transaction made within the same class of Units during the same Calendar Year.

The Provider may, at its discretion, waive the switching fee based on terms and conditions as may be determined from time to time.

Annual Management Fee Up to 1.50%* per annum of the NAV attributable to Class C Units.
Switching of Units

Switching of vested Units and/or conditionally vested Units in a Fund may only be done with the Units of any other Funds within the Scheme or funds in another private retirement scheme operated by the Provider.

For Class C Units, however, switching of Units can only be done within the same class of units. Members are not permitted to switch their vested Units and/or conditionally vested Units from Class C Units to Class A or Class B Units.

Q2 

When will Class C Units be introduced?
Class C Units will be introduced on 28 April 2016.

Q3 

What are the benefits of introducing Class C Units?
a. The Scheme will be able to grow its net asset value through the injection of additional or new contributions from Members or potential members, and the Scheme will be able to invest in more instruments within the permitted investments of the Scheme;

b. Members who are currently contributing to Class A Units will be able to switch to Class C Units, subject to a switching fee of 3.00%* of the amount switched, to enjoy a lower management fee via Class C Units as compared to the management fee of Class A Units; and

c. Members will be able to redeem their contributions in Class C Units without any Redemption Charge.

Q4 

How do I purchase Class C Units?
You can purchase Class C Units through our:

  • Manulife private retirement scheme consultants;
  • Manulife private retirement scheme distributors;
  • Manulife Asset Management Services Berhad ("MAMSB") branches or
  • MAMSB Head Office located at 13th Floor, Menara Manulife, 6, Jalan Gelenggang, Damansara Heights, 50490 Kuala Lumpur.

Q5 

Which of the funds of the Scheme offer Class C Units?
The Provider has a total of three (3) core funds under the Scheme, which offer Class C Units:

The funds under the Manulife PRS NESTEGG Series are:-

  • Manulife PRS-Growth Fund;
  • Manulife PRS-Moderate Fund; and
  • Manulife PRS-Conservative Fund

Q6 

What is the launching price of Class C Units?
The launching price of Class C Units on 28 April 2016 is based on the last available price of Class A Units.

Q7 

What is the minimum initial contribution for Class C Units?
RM100 or such other amount as the Provider may decide from time to time.

Q8 

What is the minimum additional contribution for Class C Units?
RM100 or such other amount as the Provider may decide from time to time.

Q9 

Are Class A Units, Class B Units and Class C Units managed separately?
No, all classes of Units in each of the Funds of the Scheme are managed under one account.

Q10 

What are the different fees and charges for Class A Units, Class B Units and Class C Units?

 

Manulife PRS-Growth Fund

Manulife PRS-Moderate Fund Manulife PRS-Conservative Fund
Sales Charge
Class A & B
  • Up to 2.00%* of net asset value (NAV) per Unit will be imposed on walk-in contributors.
  • If contributions are made through our authorized Institutional PRS Advisers or PRS consultants, the Sales Charge will be waived.
Class C Up to 3.00%* of NAV per Unit
Annual Management Fee
Class A 2.25%* per annum of NAV
Class B 1.50%* per annum of NAV
Class C Up to 1.50%* per annum of NAV
Redemption Charge
Class A & B
  • 3.00% of NAV per Unit for withdrawal in the 2nd year after the first contribution to the Scheme.
  • 2.00% of NAV per Unit for withdrawal in the 3rd year after the first contribution to the Scheme.
  • 1.00% of NAV per Unit for withdrawal in the 4th year after the first contribution to the Scheme.
  • No redemption charge from 5th year after the first contribution to the Scheme.
Class C No Redemption Charge
Transfer Fee
Class A & B No transfer fee 
Class C RM25.00*

Q11 

Can a Member switch from Class A Units to Class C Units or vice versa? For example, switching from Manulife PRS-Conservative Fund (Class A Units) to Manulife PRS-Growth Fund (Class C Units)?
Switching from Class A Units to Class C Units is permitted and a switching fee of 3.00%* of the amount switched out will be imposed by the Provider on the Member.

For Class C Units, however, switching of Units can only be done within the same class of units. Members are not permitted to switch their vested Units and/or conditionally vested Units from Class C Units to Class A or Class B Units.

Q12 

How much is the switching fee?
Class A & Class B Units
No switching fee will be imposed on the first 12 switching transactions made during a Calendar Year between the Funds of the Scheme or between a Fund of the Scheme and any other fund in another private retirement scheme operated by the Provider.

A switching fee of RM25.00* will be imposed by the Provider on the Member for each subsequent switching transaction made within the same class of Units during the same Calendar Year.

For each subsequent switching transaction made from Class A or Class B Units to Class C Units during the same Calendar Year, a switching fee of 3.00%* of the amount switched out will be imposed by the Provider on the Member.

The Provider may, at its discretion, waive the switching fee based on the terms and conditions as may be determined from time to time.

Class C Units
No switching fee will be imposed on the first 12 switching transactions made during a Calendar Year: (1) between the Funds of the Scheme within the same class of Units; or (2) between a Fund of the Scheme and any other fund in another private retirement scheme operated by the Provider within the same class of Units.

A switching fee of RM25.00* will be imposed by the Provider on the Member for each subsequent switching transaction made within the same class of Units during the same Calendar Year.

The Provider may, at its discretion, waive the switching fee based on the terms and conditions as may be determined from time to time.

Q13 

What is the procedure for switching from Class A Units to Class C Units?
A Member has to complete the switching form from the Provider and submit it through our:

  • Manulife private retirement scheme consultants;
  • Manulife private retirement scheme distributors;
  • Manulife Asset Management Services Berhad ("MAMSB") branches or
  • MAMSB Head Office located at 13th Floor, Menara Manulife, 6, Jalan Gelenggang, Damansara Heights, 50490 Kuala Lumpur

Q14 

Can a Member maintain his existing account in Class A Units and open another account for Class C Units?
A member can use his existing account to contribute to Class C Units.

Q15 

Can a Member transfer his contribution from other private retirement scheme providers to Class C Units of any Fund within the Scheme?
Yes, he may do so. However, a sales charge of 3.00% of NAV per unit will be imposed.

Q16 

Can a Member who qualifies for the PRS Youth Incentive Scheme contribute to Class C Units?
Yes.

Q17 

Is the tax relief of up to RM3,000 per annum applicable for contribution to Class C Units?
Yes.

Q18 

If existing Members want to contribute to Class C Units, do they need to fill in any application form?
Existing Members will need to complete the Investment Form (choice of fund(s) must be stated clearly) and provide proof of payment when making a contribution to Class C Units.

Q19 

What is the procedure to transfer from another private retirement scheme provider to Class C Units of any Fund within the Scheme?
A new Member has to complete the transfer form provided by the Private Pension Administrator ("PPA") and the Provider’s private retirement scheme Joint Account Opening and Investment Form. Existing Members need to complete the PPA transfer form if they wish to transfer their contributions from another private retirement scheme provider.

Q20 

Who should I contact for more information on Class C Units?
If you have any question, please call our Customer Service personnel at 03-2719 9271 or email us at PRSInfo_my@manulife.com.

You are also welcome to visit our website at http://www.manulifeinvestment.com.my.

*the rate and amount disclosed are exclusive of any goods and services tax.


 

FAQs for Manulife Shariah PRS NESTEGG Series Class C Units 

 

CLASS C UNITS FOR MANULIFE SHARIAH PRS NESTEGG SERIES

 

Q1 

What are Class C Units?
Class C Units are a new class of units introduced for the private retirement scheme funds of the Manulife Shariah PRS NESTEGG Series (“the Scheme”), which is a private retirement scheme operated by Manulife Asset Management Services Berhad (“the Provider”).

The following are the salient features of Class C Units:

Class C Units
Sales Charge Up to 3.00%* of NAV per Unit.
Redemption Charge The Provider does not intend to impose any Redemption Charge.
Transfer Fee 
(to another PRS Provider)
A transfer fee of RM25.00* will be imposed on a request to transfer to another private retirement scheme operated by another private retirement scheme provider.
Switching Fee
(between Funds of the Scheme or between a Fund of the Scheme and any other fund in another private retirement scheme operated by the Provider)

No switching fee will be imposed on the first 12 switching transactions made during a Calendar Year: 

1.    between the Funds of the Scheme within the same class of Units; or 

2.    between a Fund of the Scheme and any other fund in another private retirement scheme operated by the Provider within the same class of Units.  

A switching fee of RM25.00* will be imposed by the Provider on the Member for each subsequent switching transaction made within the same class of Units during the same Calendar Year.

The Provider may, at its discretion, waive the switching fee based on terms and conditions as may be determined from time to time.

Annual Management Fee Up to 1.50%* per annum of the NAV attributable to Class C Units.
Switching of Units

Switching of vested Units and/or conditionally vested Units in a Fund may only be done with the Units of any other Funds within the Scheme or funds in another private retirement scheme operated by the Provider.

For Class C Units, however, switching of Units can only be done within the same class of units. Members are not permitted to switch their vested Units and/or conditionally vested Units from Class C Units to Class A or Class B Units.

Q2 

When will Class C Units be introduced?
Class C Units will be introduced on 28 April 2016.

Q3 

What are the benefits of introducing Class C Units?
a. The Scheme will be able to grow its net asset value through the injection of additional or new contributions from Members or potential members, and the Scheme will be able to invest in more instruments within the permitted investments of the Scheme;

b. Members who are currently contributing to Class A Units will be able to switch to Class C Units, subject to a switching fee of 3.00%* of the amount switched, to enjoy a lower management fee via Class C Units as compared to the management fee of Class A Units; and

c. Members will be able to redeem their contributions in Class C Units without any Redemption Charge.

Q4 

How do I purchase Class C Units?
You can purchase Class C Units through our:

  • Manulife private retirement scheme consultants;
  • Manulife private retirement scheme distributors;
  • Manulife Asset Management Services Berhad ("MAMSB") branches or
  • MAMSB Head Office located at 13th Floor, Menara Manulife, 6, Jalan Gelenggang, Damansara Heights, 50490 Kuala Lumpur.

Q5 

Which of the funds of the Scheme offer Class C Units?
The Provider has a total of three (3) core funds under the Scheme, which offer Class C Units:

The funds under the Manulife Shariah PRS NESTEGG Series are:-

  • Manulife Shariah PRS-Growth Fund;
  • Manulife Shariah PRS-Moderate Fund; and
  • Manulife Shariah PRS-Conservative Fund

Q6 

What is the launching price of Class C Units?
The launching price of Class C Units on 28 April 2016 is based on the last available price of Class A Units.

Q7 

What is the minimum initial contribution for Class C Units?
RM100 or such other amount as the Provider may decide from time to time.

Q8 

What is the minimum additional contribution for Class C Units?
RM100 or such other amount as the Provider may decide from time to time.

Q9 

Are Class A Units, Class B Units and Class C Units managed separately?
No, all classes of Units in each of the Funds of the Scheme are managed under one account.

Q10 

What are the different fees and charges for Class A Units, Class B Units and Class C Units?

 

Manulife Shariah PRS-Growth Fund

Manulife Shariah PRS-Moderate Fund Manulife Shariah PRS-Conservative Fund
Sales Charge
Class A & B
  • Up to 2.00%* of net asset value (NAV) per Unit will be imposed on walk-in contributors.
  • If contributions are made through our authorized Institutional PRS Advisers or PRS consultants, the Sales Charge will be waived.
Class C Up to 3.00%* of NAV per Unit
Annual Management Fee
Class A 2.25%* per annum of NAV
Class B 1.50%* per annum of NAV
Class C Up to 1.50%* per annum of NAV
Redemption Charge
Class A & B
  • 3.00% of NAV per Unit for withdrawal in the 2nd year after the first contribution to the Scheme.
  • 2.00% of NAV per Unit for withdrawal in the 3rd year after the first contribution to the Scheme.
  • 1.00% of NAV per Unit for withdrawal in the 4th year after the first contribution to the Scheme.
  • No redemption charge from 5th year after the first contribution to the Scheme.
Class C No Redemption Charge
Transfer Fee
Class A & B No transfer fee 
Class C RM25.00*

Q11 

Can a Member switch from Class A Units to Class C Units or vice versa? For example, switching from ManulifeShariah PRS-Conservative Fund (Class A Units) to Manulife Shariah PRS-Growth Fund (Class C Units)?
Switching from Class A Units to Class C Units is permitted and a switching fee of 3.00%* of the amount switched out will be imposed by the Provider on the Member.

For Class C Units, however, switching of Units can only be done within the same class of units. Members are not permitted to switch their vested Units and/or conditionally vested Units from Class C Units to Class A or Class B Units.

Q12 

How much is the switching fee?
Class A & Class B Units
No switching fee will be imposed on the first 12 switching transactions made during a Calendar Year between the Funds of the Scheme or between a Fund of the Scheme and any other fund in another private retirement scheme operated by the Provider.

A switching fee of RM25.00* will be imposed by the Provider on the Member for each subsequent switching transaction made within the same class of Units during the same Calendar Year.

For each subsequent switching transaction made from Class A or Class B Units to Class C Units during the same Calendar Year, a switching fee of 3.00%* of the amount switched out will be imposed by the Provider on the Member.

The Provider may, at its discretion, waive the switching fee based on the terms and conditions as may be determined from time to time.

Class C Units
No switching fee will be imposed on the first 12 switching transactions made during a Calendar Year: (1) between the Funds of the Scheme within the same class of Units; or (2) between a Fund of the Scheme and any other fund in another private retirement scheme operated by the Provider within the same class of Units.

A switching fee of RM25.00* will be imposed by the Provider on the Member for each subsequent switching transaction made within the same class of Units during the same Calendar Year.

The Provider may, at its discretion, waive the switching fee based on the terms and conditions as may be determined from time to time.

Q13 

What is the procedure for switching from Class A Units to Class C Units?
A Member has to complete the switching form from the Provider and submit it through our:

  • Manulife private retirement scheme consultants;
  • Manulife private retirement scheme distributors;
  • Manulife Asset Management Services Berhad ("MAMSB") branches or
  • MAMSB Head Office located at 13th Floor, Menara Manulife, 6, Jalan Gelenggang, Damansara Heights, 50490 Kuala Lumpur

Q14 

Can a Member maintain his existing account in Class A Units and open another account for Class C Units?
A member can use his existing account to contribute to Class C Units.

Q15 

Can a Member transfer his contribution from other private retirement scheme providers to Class C Units of any Fund within the Scheme?
Yes, he may do so. However, a sales charge of 3.00% of NAV per unit will be imposed.

Q16 

Can a Member who qualifies for the PRS Youth Incentive Scheme contribute to Class C Units?
Yes.

Q17 

Is the tax relief of up to RM3,000 per annum applicable for contribution to Class C Units?
Yes.

Q18 

If existing Members want to contribute to Class C Units, do they need to fill in any application form?
Existing Members will need to complete the Investment Form (choice of fund(s) must be stated clearly) and provide proof of payment when making a contribution to Class C Units.

Q19 

What is the procedure to transfer from another private retirement scheme provider to Class C Units of any Fund within the Scheme?
A new Member has to complete the transfer form provided by the Private Pension Administrator ("PPA") and the Provider’s private retirement scheme Joint Account Opening and Investment Form. Existing Members need to complete the PPA transfer form if they wish to transfer their contributions from another private retirement scheme provider.

Q20 

Who should I contact for more information on Class C Units?
If you have any question, please call our Customer Service personnel at 03-2719 9271 or email us at PRSInfo_my@manulife.com.

You are also welcome to visit our website at http://www.manulifeinvestment.com.my.

*the rate and amount disclosed are exclusive of any goods and services tax.